Budgeting. “With what money ?”
It seems like the logical reply for Peers relying on Ontario Works or Ontario Disability Support payments. Is it possible to still have money at the end of the month (or a week before the end of the month - even early in the month?) It is. With learning from others and support it is possible to pay the landlord, phone, hydro and still have enough for you.
What is budgeting? It’s planning.
A budget is a plan that represents a life with much less stress - even when receiving benefits, working a part time and/or minimum wage job.
A budget is a system you can rely on to be independent, feel freer, and happier. Having a monthly financial plan provides a personal sense of pride and control, even satisfaction. There’s security in having a full cupboard and rent and phone paid.
Getting started:
Transitioning to something new takes support. An accountability buddy is a great way to get started until new budgeting habits take shape. Giving monthly designated funds in envelopes to a friend to ensure they are secure for rent, weekly basic needs, bills is a good way to begin. Online support groups will keep your new ‘work in budgeting’ determination strong - and keep pride swelling. So what else does budgeting take?
Time: The time investment needed to live within a budget for travelling to and from community meals and possible donation sources may supplement income, and has some benefits: A schedule; better community meals can be pleasant and a way to find out about other services being offered for social/basic needs help.
Mobility: Carrying and transporting food and basic need donations requires good health and mobility, and good footware. Challenges (weather, service disruption) that can change from week to week may need support. Ask for help as needed for your health (pain levels etc.) This is one of many Mutual aid groups in Toronto - there is a network out there to support you!
Work: Living affordably is a job in itself! Locating free and low cost needs and services is hard work. It is possible to transfer that time, trouble and work investment to ‘step’ employment that may be rewarding to look into. Getting involved with a developmental organization is a great way to start. Are any of these in your area?
Healthier habits ahead recommended supports:
Weekly budgeting and financial empowerment groups bolster ability to be frugal and proud of holding onto monthly money! Encouragement and Inspiration below.
The Woodgreen Financial Empowerment Program at telephone: 426-645-6000 ext. 1921
West Neighbourhood House Financial Empowerment Program (and year-round Income Tax Clinic) at telephone: 416-532-4828
The Neighbourhood Organization one-to-one personal financial support at telephone 416-424-2900.
Business Debtors Annonymous and Debtors Anonymous Weekly groups http://www.debtorsanonymous.ca/da-ontario/toronto/
https://www.creditcanada.com/ Credit Canada in Toronto can help you improve your credit score at https://www.creditcanada.com/contact-us/credit-canada-downtown-toronto-office
What are your spending triggers?
If on the job paydays are a trigger time for spending, set up a savings account for paycheque deposit with an auto transfer of a weekly needs-only amount to your chequing account.
Refrain from carrying cash. It can be lost and tracking your spending through your debit card is a helpful guide to learning where to cut back on spending.
If habits such as smoking and other harmful coping habits are hurting you getting physical and financial wellness
Best practices for financial wellness:
Living within one’s means, and aiming toward more income sources is practicing financial wellness. Peers who are working on having lifelong financial wellness provide the practices below:
Taxes up to date (using free tax clinics - you can Call 211 for this - and most every support service).
Cut down and let go of expensive habits with supports starting with your Doctor (smoking, substances including alcohol, overspending and debting).
Get support to leave storage lockers or items that you are used to but drain your monthly finances (such as a car). Grief, loss and ‘overcollecting’ supports are available to move on.
Use alternate services instead of charge services such as Moneymart and bank machines with fees.
Seek free services available including rehabilitation, couselling, lawyers (call 211 or ask Peer services, Community clinics, Social services).
How do they do it?
Financial Determination: Peers supporting Family
“I came from Uganda and am learning English. I live in a respite centre, and work as a delivery courier with my new bicycle I saved for. I’m here alone. I support my family in Uganda. I’m saving for us to have a home here in the future.” - Peer
“I live on my own in an apartment in Toronto. My job is minimum wage. I have a large family from the Phillipines. They live in Toronto and have children in daycare, school and starting university. My Nieces, Nephews and Sisters had good jobs in the Phillipines but we had to go back to school to work in Canada. We support each other and enjoy a lot of family meals. We send clothing, toys, gifts back to family who are still in the Phillipines….” - Peer