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Home My WebLink AboutThe Wingham Advance-Times, 1989-05-16, Page 14q7, •.f ..• • • •••-• • . •• • • • 7,!••27.,•..!,."•;',:i.".`-r:',..".1,;',,•"i„. •,•2• .„,.„Y•g!" • i;• Page 14A The Wingham, AdvanceTimes May 10, 1989 4. ••••,. ••;:•••• ANA By Harty L Mardon • -,,,•••• " • ••,;•:tf,•'•::'..,:'44::•4.:;•;•;,f.x.:•:;7,A;ry:"•:.14:::y., • • , „ • VA:V;•••"KIMAitY5T•WX:,VM:•";;WAM'X') f;.....";W:" '44 • ,÷44.4. . , -*• ',if; • •A ' ...0):..Airft y*410:44.4,0W*44140rAlret, OSpr. ;4:,1:4,0:4::ZV 4,44:::;;;XemwSceP: ;$;•4::P:wia.0:00.A.?..:',X4Av4.44-Awix*,46•NW1:14:41( A good number of families start each new year determine_d to oper ate under a family budget system. Alas, many of these well-inten- tioned couples lose interest or con- trol by late April or early May. Professional financial plann say the drop-out pmblem is mai caused by a -widely held perrepti of what the word 'budget" m eans. A lot of people see it as implying they have to scrimp, either by cut- ting back or cutting out certain expenditures. They become restless about the self-imposed spending restraints. In fact, the proper meaning of budget is that it is a plan for using your financial resources over a given time period, generally a cal- endar year. The plan cannot be effective if it is based on guesswork. Therefore, you must first list all of your major sources of revenue for the coming year, by dollar amount. You next list the amount o expenditures under various catego- ry headings, based upon your pas experience and allowing for infla tionary increases. The Manitoba Department of Agriculture's home economics branch compiled a set of sample average budgets for urban families. One sample was of a single -parent mother holding a job and with a, three-year-old girl. She is a renter and does not have a car. The woman's 1989 budget pro- vides for 35.2 per cent of the total ers on 42454,fre-*;;,"4:11:;611:rf.fr.till,L77,iir &goingon shelter. That works on $546.72 per month, or $6,560 Her next largest dollar commitm goes on ancmitiol dnthcaorre.$I4t,1c3irs 0 year. That is 222 per cent of her budget. Food is her third big cost item at $168.91 a month 2,026.96 yearly. That is 10.9 • ' 4P1Pr'n'o.,p4r;•1:,:r.,7, norganfie • aceAs.,i:07,:•• tat -Finally. personal, "re. .64. medicine eheSt supplies cost the ent woman $35.69 a month. That works her out to $439.10 a year, Or_ Z3 per cent of the budget total. Per cent of the budget. Recreation, reading, gifts a contributions amount to $151. monthly. That totals $1,821.82 year, which is 9,8 per cent of budget. Next comes home furni ings and equipment. These cos come to $67.74 monthly or $776, yearly, comprising 4.2 per cent the budget. Clothing for the woman and her daughter costs $10246 month. That totals $1,229.46 for th year or 6.6 per cent of the budget. Because the woman does no have a car, using mainly publi transit, her monthly transpoitatio costs only $54.49 or $643.90 pe t year. That is 3.5 per cent of her bud get. Families with automobiles gen erally spend about. 20 per cent o 'their budget on transportation. Household operation costs com to $21.80 monthly, which total $261.62 yearly. That is 1.4 per cen of the budget. Communication costs only 1.2 per cern of the bud get, at $19.34 a month or $232.10 a year. Health care costs her $41.59 a month. That comes to $499.10 a year, which is 2.7 per cent of the budget. est Her 'monthly expenditures toit.g' or $1,553.26. The year's total Is, $18,6391er nd Other women in similar circuirt- 82 stances to this case may find it prof• per 'table to compare their spending the pattern with the above sample. h- Tastes, and therefore costs, may 'lif- ts fer quite widely. 85 of Of course, the reader will have noted that there is nothing in the sample budget for savings and e investments Yet these are absolute essentials. Family counsellors and t - mancial advisers generally recom- mend about 10 per cent of income n should be allocated to a savings - r investment program. The principle is embraced by the powerful slo- gan: "Pay Yourself First". e Mr. Mardon is manager of cor- s porate communications for t Investors Group Inc.., the Win- nipeg -based finantial planning services company. Gotcha! The first rule of advertising is to get their attention. Our creative department will make your advertising work for you. Invest your advertising dollars with 357-2320 0.000 WENGER PUBLICATIONS THE WINGHAMIADVANCE-TIIVIE WINGHAM COMPUTERS opened recently on the Maki. Ste t. business owner. is Andrea Coulter manages the office, while 13111 McQuiggan B. McQuiggan o Wingham computers'. Bill McQuiggan has taken his can involve anything — right from interest in computers and turned it farming to drafting. into a business with the recent opening of Wingham Computers. Although he does not program, The owner of a computer for a computers, Mr. McQuiggan can number of years, Mr. McQuiggan guide customers to the , best says he understands and appreci- machine and program for their ates their benlifitlisie..Ht„.ehsagsall: enci:ca. e ds He also stocks ames and decided he wo illone -programs tor young ers apply the technology at their sters. . fingertips to get more out of their Since Mr. McQuiggan has kept •-: machines. his nine -to -five job at CKNX, In addition to selling computers, Andrea Coultes of Belgrave, a software, printers and facsimile recent university graduate, is man - (fax) machines, Mr. McQuiggan aging the office. It is open Monday also is involved in hands-on train- through Friday, as well as Friday ing at his Wingham office. evenings and Saturday mornings. Computers have many uses in You don't have to talk computer our lives, be it for business, recre- - ation or education. The possibilities eeze to feel comfortable At Wing - ham Computers, which has every - are limitless, he says, adding there thing that a city store has and more, are more than 7,000 product lines especially people who are willing tc. currently available. listen to questions and explain It is an interesting business and them step-by-step. 11.1111111111111amammeammossissisemeam. MOST -IMPROVED BOWLERS in Wingharres Yt3uth Bowling Council received awards recently 'ehael;Ityla Irvine; fftliii;71111SAyittiiii,SMWMatz idare bicI;D:r. 'Morrison, Jim Hills, Grace Caiini and Robbie McGee.