For most students, starting college or university means handling their own finances for the first time. Student loans and new credit cards can feel like a windfall, but they come with responsibility and can lead to financial trouble if not handled properly. This guide aims to help students avoid some common financial mistakes, control their costs through proper budgeting and graduate with a plan for getting out of debt.
What it costs to go to school in each province
Tuition is just the start. Add in student housing, books and school supplies, food and recreation, a phone plan and return trips home, and the cost of university soon adds up exponentially. Here’s what you can expect across Canada.
A five-step plan to help university students manage their money
Learning to manage your money while at college or university is important for your current – and future – financial health. Here’s what you need to put in your financial tool kit.
Eight money tips for students
While money management for students is a big topic, encompassing everything from budgeting to navigating loans, there are some simple steps to trim spending.
Some postsecondary students and their parents are about to make a $20,000 mistake
Lacking proper guidance, some students enroll in programs that don’t produce jobs in their field of study. Picking a school and program for the wrong reasons could be an expensive mistake.
Five money mistakes students should avoid
Financial management is something most postsecondary students will have to tackle from the first day they step foot on campus, but few know how. Here are some of the most common money mishaps.
Money mistakes millennials make and how to prevent them
Misusing credit cards and not sticking to a budget are just a couple of the expensive mistakes student make when they begin to spend their own money.
Keeping a lid on the cost of groceries
Managing a grocery budget is no different than managing any other budget. The key is creating a plan and sticking to it.
The ‘Can I Afford to Move Out?’ Calculator
Just over 42 per cent of Canada’s young people aged 20 to 29 lived at home with their parents, according to the latest census data. Can these members of Generation Y afford to move out on their own? This calculator lets you know.
Student debt should be tied to earning potential after graduation
If students are going to borrow for an education, they need to understand how much debt is okay, and how much is too much, given the school and course of study they’re attending.
How to achieve work-study balance and cut down on student debt
With the average undergraduate university tuition up about 40 per cent from 10 years ago, it is little wonder that many students feel the need to support their studies with part-time work.
Six tips that can help minimize student debt
Student debt can be worthwhile if it allows a student to create higher earning capacity. But the debt needs to be managed. Here’s some advice for students who want to borrow prudently for an education.