Living costs & Budgeting for student life in canada
Budgeting is a tough exercise for many especially so when one is a full-time student. Many unforeseen circumstances happen, the Loans are delayed, and parents may run into financial setbacks, books may exceed the expected cost. It is compounded for the students of the First year as it is the first time they live on their own.
This article aims to provide a few budgeting tips for all students. Many feel that budgeting is not simple but tricky. Learning the exercise is important for now as well as in later stages of life.
Students today live in a technologically advanced era. There is access, and availability of things like smartphones, wireless technology, and electric cars. One can download apps for budgeting in the smartphone and avail student discounts and coupons, or go to free events. Grocery stores, theatres and some retailers offer rebates to students routinely. They can Use the Technology and Internet as a Friend.
Research helps in a big way when money is involved. It can take care of making a big or small purchase. Avoid fanciful purchasing and always opt for research first. Make Comparisons of various products and notice the best value for money. There are online discounts for some purchases. Look for the websites which sell used goods, from people or retailers.
Transportation is a costly affair for the students who do not reside on the campus and prefer to drive to school. It is wise to use public transit instead as it is comparatively cheaper than driving a car. There is a bonus because subway cards and bus passes have reduced pricing for students. When the weather is good, riding a bike or skateboard to school saves money and students can get into shape. Save money by opting for carpooling. One can split the cost of gas also.
Bulk Shopping and Meal Preparation
Shopping is cheaper when done in bulk. Accompany your roommates and friends, and approach the nearest bulk food store to buy everything you need. Accordingly split the bill on the commodities used by everyone. The cost of paper towels, Light bulbs, detergents and toilet paper, can be shared. Cooking meals together lead to saving much money.
Estimated living costs for the academic year
- Food: $1200 – $2500
- Clothing: $800- $1000
- Local Transportation: $800
- Books, supplies, and instruments: $500 – $1500
- Miscellaneous: $900- $1500
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