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

• Your Financial Toolkit Video
• Your Financial Toolkit
• Canadian Financial Literacy Database

Government of Canada

• Take charge of your finances
• Paying back student debt
• Budgeting for student life
• 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