Financial Literacy for Everyone
tooth fairy

New Tooth Fairy Calculator App
The new Tooth Fairy Calculator app for iOS helps determine what to leave under your children's pillow.
Download now
Calculate now

free materials

Like Us On Facebook
Practical Money Skills Canada is on Facebook. Click the "Like" button on the top of our Facebook page to follow our financial news and tips.
Like Us Now

Follow Us
Canada’s Peter Pig’s Money Counter

NEW Canada’s Peter Pig’s Money Counter
Learning about money is fun with Peter Pig. Kids can practice identifying, counting and saving money while learning fun facts about Canadian currency with this interactive educational game.
Play now

Budget Calculator

Throwing back the curtains on where your money actually goes can be an eye-opening experience. This calculator can help you get a handle on the numbers by tracking your expenses. Keep a log and jot down whatever you spend. In this way, you will be able to take control of your money and your current financial situation.

Income 1
If you get paid once a week, multiply the amount of your paycheque by 52 and divide by 12. This will give you your monthly income. If you get paid every two weeks, multiply by 26 and divide by 12.
Income 2
List any secondary sources of household income here, including a spouse’s income or income from a second job.
Enter the monthly interest you earn on investments here. But only include interest income that can be used to pay for monthly expenses -- not interest earned on retirement accounts or other long-term investments.
If you receive money from a pension account, enter it here.
List any other regular sources of money (income) that you can consider part of your monthly financial outlook.
Your rent/mortgage allowance should include your total monthly spending on shelter. In addition to principal and interest payments, this number should include mortgage insurance, house insurance, property taxes, etc.
Car Payment
Enter your monthly car loan or lease payment here. If your car is already paid off, enter zero.
Car Insurance
This amount is separate from your car payment because it can vary according to your driving record and other factors.
Credit Cards
If you don’t pay your entire credit-card balance off every month, enter the amount you do pay. If you do clear your balance each month, enter zero.
Add up all your education-related expenses, including tuition, books and fees. Enter the total here.
Enter the total amount you spend each month on having a good time. This should include movies, concerts, plays, book and magazine purchases, and so on. Include money you spend eating at restaurants -- or ordering food in -- in this category, not in food expenses.
Include all food-related expenses (minus your entertainment-accounted-for indulgences), including cooking supplies.
Account for any medical expenses here. Include procedures not covered by your provincial health plan. If you pay a premium on your health insurance, add it in. Also take account of your average monthly expenditures for prescriptions and other medically related payments.
This category should include any costs associated with getting you from here to there -- outside of your car payment and insurance. Include automobile maintenance bills, fuel costs, public transportation, taxi rides, parking, etc.
Add up your average monthly expenditures for gas, telephone, cable, electricity and water.
Child Care
Add up not only day-care expenses here, but also what you spend on diapers, wipes, formula and other baby-related purchases.
Every month there will be quite a few expenses that don’t fit into any of the other categories. It’s important to plan for these expenses, too.