Tips For Managing Your Money

By University of Waterloo Modified on August 09, 2017

Starting university or college in September? Here are some ways to make your money last.

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You’ve worked hard to earn enough money to make it to university. You’ve spent hours working a job or applying to scholarships and bursaries. Before heading to campus to begin your new adventure, try out some of these tips to help manage your money.

Consider planning a budget. Review your recent spending habits and plan out a budget for the term.

Break down your spending to a weekly scale. Set aside money for things like food, school supplies, clothing, transportation, and fun. Keep track of where you go over in your budget and work on problem areas. Most banks have an app that will help you keep track.

Meet your new bff: used textbooks. Used textbooks are cheaper than buying new textbooks. You’d be surprised at what you can find in the used book store and online.

Upper-year students are also a great resource for textbooks as they’ll be selling their old textbooks at a discount. You can also sell your books when you’re done with them and make some of the money back. Older editions are often still acceptable. Talk to your professor to see what they suggest.

Discounts are lurking around every corner. Grocery stores often have student discount on certain days. Keep your student ID with you to cash in on the savings. Additionally, you can often find free food on campus, if you look for it.

Budgeting can be complicated. If you make some mistakes with your money, that’s ok. Learn from your mistakes and work to get back on track as best you can.