Need to lose weight on a strict budget, is this ok to do?

It looks good on paper, but it's all about the portion control. Also, try walking in the morning before breakfast. If you exercise after eating you'll just be burning carbs, but exercise on an empty stomache will burn fat. Definitly drink lots of water. Make sure to take good vit supplements so you're not depriving yourself of the essential nutrients you need. Every so often, indulge yourself a little. Get yourself some soy or rice milk ice cream, it tastes great and won't be as fatty as other desserts. Also it'll give you that extra push so you can keep your diet going! Good luck. (: