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Laura's Budgeting Case Study Analysis

Laura receives $1,004 monthly from Ontario Works and $825.73 monthly in federal and provincial benefits. She pays $600 in rent and $144-165 monthly for utilities. She has a $100/month cell phone contract and some credit card debt requiring a $100 monthly payment. Laura takes her kids to restaurants on Fridays and for coffee, and the kids may need new clothes. Based on the information provided, Laura's expenses exceed her monthly income.

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Usman Ali
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1K views2 pages

Laura's Budgeting Case Study Analysis

Laura receives $1,004 monthly from Ontario Works and $825.73 monthly in federal and provincial benefits. She pays $600 in rent and $144-165 monthly for utilities. She has a $100/month cell phone contract and some credit card debt requiring a $100 monthly payment. Laura takes her kids to restaurants on Fridays and for coffee, and the kids may need new clothes. Based on the information provided, Laura's expenses exceed her monthly income.

Uploaded by

Usman Ali
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
  • Budgeting Case Study
  • Laura's Budget Worksheet

BUDGETING CASE STUDY

Laura is a mother with two children, ages 10 and 12. Laura has been on Ontario Works for
three months now and receives a monthly amount of $1,004.00. She also receives the
maximum monthly Federal (CTB and NCBS) and Provincial (OCB) benefits that total $825.73. It
is often her experience to get near the end of the month with very little money to spare.

Laura and her kids live in a friend’s basement apartment where she pays $600/month for her
rent. She also has to pay her hydro and gas separately, and it costs her around $144.00 per
month for hydro and anywhere from $45 to $120 for her Union Gas bill, depending on the
month and the season of the year.

Laura has a cell phone and is currently on a contract that runs at $100/month for her texts,
calling, and 4 GB of data. She is thinking about getting cable, but, for now, seems happy
enough with Netflix.

Laura has some credit card debt that she has carried over from when she got divorced. The
credit card company is looking for $100/month, but she isn’t always able to afford the full
payment.

She is looking for work and has been to some interviews recently. She is still waiting on getting
a bus pass, so for now, buys bus tickets for herself and her kids.

Laura likes to have a family night each Friday, a time where she and the children enjoy a meal
out, usually keeping the cost between $20 and $25 per night, and then coming back to the
house to watch a movie together.

The children are growing quickly and may need some new clothes for school and some of their
extracurricular activities.

Laura walks the kids to school and will go to Tim Hortons for a medium coffee as she makes
her way home.

Put Laura’s Budget Together

Based on the information above, in your group, use Column B to begin building Laura’s budget.
• Does she have enough money to pay for everything?
• What changes might you recommend to Laura?
• Can she afford adding cable at $60 a month?

BUDGETING CASE STUDY 1


LAURA’S BUDGET WORKSHEET

Budget Item Column A Column B Column C Column D


(Previous (Budget) (Actual (B – C = $)
Month) Spending)
INCOME
Salary or benefits
Child Tax Benefit
Other
TOTAL INCOME
BASIC EXPENSES
HOME
Rent or mortgage
Property tax/Condo fee
Home insurance
Utilities (hydro, gas)
Cable
Phone
Repairs
TRANSPORTATION
Public transportation
Car loan/lease
Car repairs, gas
Car insurance/license
LIVING EXPENSES
Groceries
Child care
Medical/dental
Loan payments
Basic clothing
Life, housing insurance
Emergency fund
Hair
Other
OTHER EXPENSES
Restaurant/Entertainment
Clothing (extra)
Gifts
Other
TOTAL EXPENSES
INCOME – EXPENSES

2 BUDGETING CASE STUDY

BUDGETING CASE STUDY 1 BUDGETING CASE STUDY Laura is a mother with two children, ages 10 and 12. Laura has been on Ont
2 BUDGETING CASE STUDY LAURA’S BUDGET WORKSHEET Budget Item Column A (Previous Month) Column B (Budget) Column C

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