top of page

Spending 101

Welcome to another Finance Monday!

Before we get started, I'll like to introduce a word in Yoruba called Ninalowo, which means; money is for spending.

I believe a balanced relationship with money is crucial. People's relationships with money can be influenced by many things such as background, society, beliefs, etc.

In today's post, we're exploring spending and how to do this on a budget. The best part of making money is spending it, right? So let's have it!

  • Tracking Outflows: Outflows consist of Savings, Investments, Loan Repayments, Necessities, and others. The budget template I attached in the previous finance post (you should purchase it) enables me to track my outflows so I have a sense of what my monthly spending is on average. How you spend and what you buy gives you an idea of your money habits. E.g., Initially, I was spending around $60 on my phone bill. Looking for a better deal came to mind and I was able to save 30%.

  • Finding Deals: Toronto is already expensive, so we're definitely looking for ways to save our coins.

- Food: As a gym girlie, food is important, and I think everyone can agree that after rent, food is the next significant expense. I try as much as possible to shop from Asian Stores, wholesalers (I'll be gatekeeping my protein market for now) and certain popular groceries stores like NoFrills, Walmart and Dollarama.

- Personal Care: Get yourself a PC Optimum card from Shoppers Drug Mart. I get the majority of my personal care items from Shoppers and it is point based. You get points every time you buy from their store and associated stores. A big shoutout to Amazon as well, I compare and contrast prices between Shoppers and Amazon for some products. Also, Sephora is a great place to get personal care items, makeup, perfumes, etc. They offer free fast delivery.

- Deals: Establishments have deals to help save money, whether it's referrals to restaurants, museums or events, always keep an eye out to save some coins. For example, Most establishments have deals on Tuesdays and Wednesdays.

  • Sticking to your Percentage: Some people do 50/30/20, 70/20/10 or 60/30/10. Whatever works for you, stick with it. Figure out items that fall under these categories; Necessities, Savings & Investments and Wants and review them regularly.


  • Know your income

  • Have a budget

  • Track your spending

  • Stick to your percentage

  • Look out for deals

  • Money is for spending but spend wisely.

Cheers to us making better financial decisions.

Recent Posts

See All



Hi, thanks for stopping by!

If you're looking for more blog posts, check out my recent posts.

Let the posts
come to you.

Thanks for submitting!

  • Facebook
  • Instagram
  • Twitter
  • Pinterest
bottom of page