{"id":361899,"date":"2021-11-02T17:09:00","date_gmt":"2021-11-02T14:09:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/9-budgeting-tips-for-university-students\/"},"modified":"2021-11-02T17:09:00","modified_gmt":"2021-11-02T14:09:00","slug":"9-budgeting-tips-for-university-students","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/9-budgeting-tips-for-university-students\/","title":{"rendered":"#9 budgeting tips for university students"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a2e1caaa8cfd\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a2e1caaa8cfd\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/9-budgeting-tips-for-university-students\/#1_Start_with_the_big_picture\" >1. Start with\u00a0the big picture<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/9-budgeting-tips-for-university-students\/#2_Spreadsheets_are_your_friend\" >2. Spreadsheets\u00a0are your friend<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/9-budgeting-tips-for-university-students\/#3_Make_use_of_student_banking_offers%E2%80%94carefully\" >3. Make use of student banking offers\u2014carefully<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/buradabiliyorum.com\/en\/9-budgeting-tips-for-university-students\/#4_Textbooks_are_just_as_good_the_second_or_third_time_around\" >4. Textbooks are just as good the second (or third) time around<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/buradabiliyorum.com\/en\/9-budgeting-tips-for-university-students\/#5_Work_on_campus\" >5. Work on campus<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/buradabiliyorum.com\/en\/9-budgeting-tips-for-university-students\/#6_Have_fun%E2%80%94but_not_too_much_fun\" >6. Have fun\u2014but not too much fun!<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/buradabiliyorum.com\/en\/9-budgeting-tips-for-university-students\/#7_Limit_takeout_food_and_find_student_grocery_discounts\" >7. Limit takeout food and find student grocery discounts<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/buradabiliyorum.com\/en\/9-budgeting-tips-for-university-students\/#8_Check_your_schools_optional_fees\" >8. Check your\u00a0school\u2019s optional fees<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/buradabiliyorum.com\/en\/9-budgeting-tips-for-university-students\/#9_Ask_for_help\" >9. Ask for help<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong>#9 budgeting tips for university students<\/strong>&#8221;<\/p>\n<div>\n                                                                        University is often the first time many students have to start thinking about how to balance their various expenses\u2014books, groceries, even going out. And sometimes trouble crops up when your financial skills are still playing catch-up with your new-found freedom. When there isn\u2019t much stopping you from a midnight pizza run or buying that third (or fifth) home team sweatshirt, you can easily lose track of your spending. Before long, you can find yourself on an all-instant ramen diet after a weekend of bar-hopping.<\/p>\n<p>To help first-year students avoid these hurdles, we\u2019ve asked university staff, students and finance experts to share their top budgeting tips for saving during the school year.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"1_Start_with_the_big_picture\"><\/span>1. Start with\u00a0the big picture<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Effective budgeting isn\u2019t just about number crunching. \u201cIt\u2019s about having long-term goals and a realistic plan that you are actively working on to achieve your goals,\u201d says Basia Pozin, a commercial banking account manager at TD Bank and founder of Money Matters, an online financial literacy course for young people.<\/p>\n<blockquote><p><strong>RELATED:\u00a0Five easy, tasty recipes for students on a budget\u00a0<\/strong><\/p>\n<\/blockquote>\n<p>\u201cFinancial competency is a form of self-care,\u201d says Lauren Keller, who\u2019s started budgeting for a semester abroad ahead of starting her bachelor of arts at Thompson Rivers University this fall. \u201cKnowing your budget and goals will help you form a plan\u2014you may need to work throughout the semester or pick up short-term jobs during winter and summer breaks to cover expenses,\u201d says Keller. \u201cHaving a plan reduces the time spent worrying about how you\u2019re going to pay for things, so you can focus on passing your classes.\u201d<\/p>\n<p>Once you know your goals, ask yourself questions that will help you understand your priorities, says Pozin. \u201cAm I comfortable taking on more student debt? Is it more important for me to go away for school even if I potentially move back home when I graduate?\u201d<\/p>\n<h2><span class=\"ez-toc-section\" id=\"2_Spreadsheets_are_your_friend\"><\/span>2. Spreadsheets\u00a0are your friend<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<blockquote><p><strong>MORE:\u00a0Six Canadian university students on how they\u2019re fighting climate change\u00a0<\/strong><\/p>\n<\/blockquote>\n<p>You might have rolled your eyes when your mom told you to save your receipts, but it\u2019s a good tip: they can be super helpful when you\u2019re trying to figure out where your money is going. \u201cStudents are surprised to learn that the laundry detergent their family uses costs $15 or that grapes are one of the most expensive fruits you can buy\u2014it\u2019s the little things that catch them by surprise,\u201d says Tracy Hilpert, lecturer at the University of Waterloo\u2019s financial literacy program.<\/p>\n<p>Budget tracking <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>s\u2014or good old Excel\u2014can be a handy resource for recording how much things cost and how often you\u2019re spending. \u201cSpreadsheets are great because when you see your expenses, you\u2019re like, \u2018Okay, I need to cut this many dollars from my spending,\u2019\u2009\u201d says Abhineet Goswami, a neuro<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/sciencee\/\" data-internallinksmanager029f6b8e52c=\"5\" title=\"Science\" target=\"_blank\" rel=\"noopener\">science<\/a> and business student at the University of Saskatchewan and VP of finance at the school\u2019s student union.<\/p>\n<p>Mobile payment notifications can also serve as handy reality checks. \u201cIf you\u2019re just tapping your card, you can\u2019t really see how much you spend until later,\u201d says Goswami. Whereas an app like Apple Pay gives you a daily reminder, helping you to rein in your spending when necessary.<\/p>\n<blockquote><p><strong>READ:\u00a0Why an ADHD diagnosis is often out of reach for Canadian university students\u00a0<\/strong><\/p>\n<\/blockquote>\n<h2><span class=\"ez-toc-section\" id=\"3_Make_use_of_student_banking_offers%E2%80%94carefully\"><\/span>3. Make use of student banking offers\u2014carefully<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Students are eligible for no-fee credit cards, which can be great, \u201cif you\u2019re responsible with credit, of course,\u201d says Anthony Kearl, a bachelor of commerce student at University of Calgary.<\/p>\n<p>Being careful with your credit starts with figuring out how it works. \u201cUnderstand the terms, when your payment is due, and always pay your balance off in full each month to avoid interest costs,\u201d says Hilpert.<\/p>\n<p>Keep an eye out for student perks. Some banks will refund a small percentage of your spending for a given amount, letting you save while reaping the benefits of a credit card and helping you build credit for mortgages, car loans and other things you\u2019ll need in the future, Kearl points out.<\/p>\n<p>And when it comes to opening a bank account, Kearl recommends shopping around. Smaller or online-only banks often have smaller fees and more student perks.<\/p>\n<blockquote><p><strong>READ:\u00a0Self-care tips for post-secondary students\u00a0<\/strong><\/p>\n<\/blockquote>\n<h2><span class=\"ez-toc-section\" id=\"4_Textbooks_are_just_as_good_the_second_or_third_time_around\"><\/span>4. Textbooks are just as good the second (or third) time around<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Thrifting can be easier when you use student or community groups to buy and sell. \u201cTextbooks can be a large expenditure, so make sure to search for OERs (open educational resources) or used textbooks,\u201d says Sophia Fabiano, a third-year biology major at St. Francis Xavier University. \u201cYou can also join your school\u2019s used textbook <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Facebook<\/a> group.\u201d<\/p>\n<p>And thrifting can benefit you on both ends. When you don\u2019t need something\u2014sell it. \u201cI paid for a lot of meals flipping textbooks from the second-hand store to the buyback place 20 steps away,\u201d says Martin Lee, an engineering student at the University of Calgary. The buyback is run by the school\u2019s bookstore; their website lists which books they want to buy back and at what price, Lee says. \u201cThe second-hand store is run by the student union separate from the school\u2014it\u2019s a simple consignment store, mainly textbooks.\u201d Taking advantage of these two resources is like getting a two-for-one deal\u2014you save cash with one and profit with the other.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"5_Work_on_campus\"><\/span>5. Work on campus<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>A steady source of income can help you balance your budget, but balancing work and studies can be challenging, so it\u2019s important to find a flexible employer. \u201cGet a job through your student union or a campus restaurant,\u201d says Brooke Abbott, VP of financial and volunteer operations at Wilfrid Laurier University\u2019s student union. \u201cMost employers on campus will be very accommodating around class and exam schedules.\u201d<\/p>\n<blockquote><p><strong>MORE:\u00a0Reclaiming the Thunderbirds sports team name at the University of British Columbia\u00a0<\/strong><\/p>\n<\/blockquote>\n<p>Talia Dixon, a University of Alberta student and VP of student life at the school\u2019s student union, agrees. \u201cStudent union jobs are designed for students\u2014there are lots of professional development opportunities and they often have flexible hours.\u201d<\/p>\n<div id=\"attachment_1226778\" style=\"width: 916px\" class=\"wp-caption alignnone\"><img loading=\"lazy\" decoding=\"async\" data-sizes=\"auto\" class=\"wp-image-1226778 lazyload\" src=\"https:\/\/www.macleans.ca\/wp-content\/uploads\/2021\/09\/UNIVERSITY-BUDGETING-POSTELNYAK-SEPT24-02.jpg\" alt=\"budgeting tips (Illustration by Sam Island)\" width=\"906\" height=\"545\"\/><\/p>\n<p class=\"wp-caption-text\">(Illustration by Sam Island)<\/p>\n<\/div>\n<h2><span class=\"ez-toc-section\" id=\"6_Have_fun%E2%80%94but_not_too_much_fun\"><\/span>6. Have fun\u2014but not too much fun!<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>\u201cAs a first-year student, it\u2019s easy to get caught up in the idea that you need to spend money to have fun\u2014but that\u2019s really not the case,\u201d says Nathan Szierer, a University of Western Ontario student and CFO of the school\u2019s student council.<\/p>\n<p>Karen Brown, coordinator of student awards and financial aid at the University of Regina suggests looking at what\u2019s available on campus. \u201cCheck out the athletic teams for <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/game\/\" data-internallinksmanager029f6b8e52c=\"7\" title=\"Game\" target=\"_blank\" rel=\"noopener\">game<\/a>s\u2014they\u2019re often free for students to attend\u2014join an intramural team, or have friends over for a movie or board game night. There are so many low-cost options,\u201d she says.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"7_Limit_takeout_food_and_find_student_grocery_discounts\"><\/span>7. Limit takeout food and find student grocery discounts<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>While an Uber Eats here and a DoorDash there don\u2019t seem like much, you can be sure they\u2019ll add up. \u201cFood delivery services are likely one of the largest discretionary expenses for university students,\u201d says Szierer. \u201cThat\u2019s because students often push cooking for themselves to the bottom of the priority list, and it ends with them ordering food because it\u2019s the simplest and fastest option.\u201d<\/p>\n<blockquote><p><strong>MORE:\u00a0A Cree family\u2019s canoe is returned after sitting in a University of Saskatchewan storage\u00a0room for years\u00a0<\/strong><\/p>\n<\/blockquote>\n<p>Cooking is always cheaper than eating out regularly, but groceries can also be a big expense. \u201cCheck flyers for deals and know the days that the grocery stores do student discounts,\u201d says Fabiano.<\/p>\n<p>Most universities in Canada have a campus food bank to help students in need. \u201cWhile it might feel strange to access a food bank, students and alumni run services specifically for students. It\u2019s basically a discounted grocery service for cheap fresh produce,\u201d says Dixon.<\/p>\n<p>And if you are still worried about budgeting, Brown suggests considering living in campus housing where there is usually a meal plan. \u201cThat way your costs are set,\u201d she says.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"8_Check_your_schools_optional_fees\"><\/span>8. Check your\u00a0school\u2019s optional fees<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<div id=\"attachment_1226777\" style=\"width: 497px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" data-sizes=\"auto\" class=\" wp-image-1226777 lazyload\" src=\"https:\/\/www.macleans.ca\/wp-content\/uploads\/2021\/09\/UNIVERSITY-BUDGETING-POSTELNYAK-SEPT24-01.jpg\" alt=\"(Illustration by Sam Island)\" width=\"487\" height=\"629\"\/><\/p>\n<p class=\"wp-caption-text\">(Illustration by Sam Island)<\/p>\n<\/div>\n<blockquote><p><strong>RELATED:\u00a0How the pandemic blew my family budget\u00a0<\/strong><\/p>\n<\/blockquote>\n<p>Some schools have additional optional fees, such as health and dental insurance. With an opt-out system, the extra fees are automatically added to your tuition. It\u2019s up to you to contact your registrar and opt out if you prefer not to pay for these services (for example, if you already have coverage).<\/p>\n<h2><span class=\"ez-toc-section\" id=\"9_Ask_for_help\"><\/span>9. Ask for help<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Reach out for help if financial concerns are affecting your studies. \u201cMost student unions know that students sometimes struggle to meet their basic needs and may have initiatives to help make life a little easier,\u201d says Dixon. They often give out discounts, can help you sort out taxes and offer a handful of financial education resources. \u201cOur [council] provides financial literacy programming throughout the academic year, including an annual income tax clinic, to all undergraduate students,\u201d says Szierer.<\/p>\n<p>Remember to give yourself a chance to learn. \u201cIt\u2019s okay if you don\u2019t get it right the first time,\u201d says Hilpert. \u201cBudgets can be changed once you\u2019ve spent some time as a student and know better what things cost.\u201d The important part is \u201ctaking the time to understand your money and ask questions to see how it works.\u201d<\/p>\n<hr\/>\n<p><em>This article appears in print in the 2022 University Rankings issue of<\/em> Maclean\u2019s <em>magazine with the headline, \u201cCounting the change.\u201d<\/em><br \/>\n<span class=\"ctx-article-root\"><!-- --><\/span><\/p><\/div>\n<p><script async defer crossorigin=\"anonymous\" src=\"https:\/\/connect.facebook.net\/en_US\/sdk.js\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/www.macleans.ca\/education\/budgeting-tips-university-students\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;#9 budgeting tips for university students&#8221; University is often the first time many students have to start thinking about how to balance their various expenses\u2014books, groceries, even going out. And sometimes trouble crops up when your financial skills are still playing catch-up with your new-found freedom. When there isn\u2019t much stopping you from a midnight&#8230;<\/p>\n","protected":false},"author":1,"featured_media":361900,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/www.macleans.ca\/wp-content\/uploads\/2021\/09\/UNIVERSITY-BUDGETING-POSTELNYAK-SEPT24-01-766x431.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[71145,67806,10574,76223,72588,47020,74452],"class_list":["post-361899","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-budgeting","tag-editors-picks","tag-education","tag-finances","tag-money","tag-students","tag-university"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/361899","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=361899"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/361899\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/361900"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=361899"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=361899"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=361899"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}