Being a student is no joke. It comes with a lot of stress. You might be living away from home for the first time, learning to take care of yourself, having a job and the obvious… adjusting your lifestyle from going to high school to post-secondary. But one of the biggest stress students around the world face is being smart with their money. School and textbooks itself are very expensive but on top of that you need to eat and go out once in a while. You can use these tips to help you have money for the year!
- Buy or rent used textbooks and sell last semester’s books back
- Have you ever bought a brand-new textbook only to flip the pages twice the entire semester? Textbooks are a huge financial strain on students. This is why you should opt into buying used textbooks or simply renting it from the store. Used textbooks are significantly cheaper than a new book just because it has a couple of distressed pages. If you don’t mind this, then renting or buying used is the way to go. That being said, once the semester is over, and you know you won’t need the textbook for later, you should probably sell it. You can post your textbooks on school Facebook groups or sometimes even sell it back to the bookstore.
- Never go grocery shopping when you’re hungry
- Walking around the grocery store when you’re hungry isn’t the smartest idea. You’ll be tempted to buy anything and everything you see. Which only means a grocery bill you could’ve avoided if instead you went grocery shopping when you weren’t hungry.
- Always pay bills on time to avoid late fees
- Late fees can start to pile up if you don’t act fast and pay your bills right away. A good way to keep track of bills and payments is to set reminders on your phone. This way, you’ll be updated when your payment dates are approaching.
- Use your student card for discounts
- You can use your student card for more than taking it to the exam hall. By showing your student card, you are eligible for the student discount (around 10-15% off). There are many places in Ottawa that offer student discounts with your ID; museums, grocery stores and retail stores.
- Create a budget and keep track of your spendings
- Being a student can get hectic. But one thing you should always be on top of is your spending. Allocate the money you are willing to spend for the month and divvy it up into categories: rent, food, school supplies, going out, etc. As the month goes on, make sure you note all your spending and ensure that you don’t overspend. I promise, it takes a lot more will power than you’d think.
About the Author
Cindy Naveenan is a third-year bilingual accounting student at Telfer. She is currently completing her first CO-OP term with Deloitte as a Tax Analyst.