Budgeting and Student Financial Resources
Following a budget or spending plan will also keep you out of debt or help you work your way out of debt if you are currently in debt.
Building a budget forces you to take a close look at your spending habits. You may notice that you’re spending money on things you don’t need. Budgeting allows you to rethink your spending habits and re-focus on your financial goals.
Having a budget will decrease your stress levels because, with a budget, there are no surprises. There are many excuses that people use for not budgeting: “It’s not fun." “It’s time consuming." “It’s depressing." However the benefits – lower stress levels, no surprises, meeting financial goals, etc., make budgeting a worthwhile exercise.
Budgeting Resources
Selkirk College Budget Worksheet - This Excel spreadsheet is already set up for you to input your income, and expenses. It's a great place to start!
Financial Aid Budget Worksheet - This document is a great second alternative for planning and tracking your spending.
Frugal Living Tips
- Simply Frugal Blog – Money Saving Tips, Couponing in Canada, Household Tips, Frugal Recipes
Student Discounts
- The International Student Identity Card (ISIC) is your passport to access student discounts in Canada and around the world. The ISIC Canada Card costs $20 which comes one full year of validity. It offers students discounts on planes, trains, and laptops as well as over 40,000 discounts worldwide.
- The SPC Savings Card costs $10 and offers 10-15% discounts at over 100 participating locations.
- Both the ISIC and SPC cards can be used for a wide variety of discounts listed on the Canadian Student Discount Guide: The Ultimate List.
Financial Consumer Agency
Government of Canada
- Take charge of your finances
- Paying back student debt
- Budgeting for student life
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Student tax information
- Filing student tax returns
- Common types of income for students
- Deductible moving expenses and change of address
- Canada Child Tax benefit
- International students in Canada
- Learning about taxes
- Moderate Standard of Living Tables used by provinces to calculate loan or grant amounts for student loan applicants
CanLearn.ca – Education Planning Tools
- Student Financial Assistance Estimator
- Student Loan Repayment Estimator
- Parental Contribution Calculator
- Education Savings Calculator
Videos – Budgeting and Financial Literacy
- Having trouble budgeting?
- Paying back your debt
- Not such a bargain
- Credit cards: the rules of the road
- Protecting yourself from fraud
- Understand cash advances
- Understand PIN protection
- Find out what your credit report says about you
- Empowering Women: Financial literacy training for Indigenous women
- How do I prepare a budget?
- How do I live within my means
- Understanding credit
Financial Blogs
- Squawkfox Blog - Kerry K Taylor, author of “397 Ways to Save Money” and TedX Speaker “Unconventional Ways to Save Money,” shares how she convinced millions of people to embrace a life of thrift.
Books and PDF’s
- Read The Debt-Free Graduate by Murray Baker. Check out Murray's website
- Money Management & Budgeting by Credit Canada & Debt Solutions