Money: a Guide from a Certifiable Non-Expert

Money is a tricky business. Believe me, as someone who is nowhere close to an expert, I completely empathize with feeling lost when it comes to entering the adult world of personal financial management. However, from student-to-student, I have gathered some wisdom from the experts in the Office of the Vice-President of Students and Enrolment that can help us out!

#1: Use your darn Campus Card!

Use your Campus Card for exciting deals both on and off campus! A variety of stores offer student discounts and deals. Deals range from entertainment to groceries to recreational activities. Here is a list of all the deals available to you by using your Campus Card! On campus there are over 450 locations that accept the Campus Card as method of payment. This makes purchasing items easy. Plus, depositing money onto the card is accessible, with options to deposit online, on campus, or by mail! These various options allow you to deposit your way.

#2: Don’t be shy, apply!

The Awards and Financial Aid Office offers a variety of awards which can help reduce the cost of tuition. These range from scholarships to bursaries and awards everywhere in-between. The worst possible thing you can do is not apply, because then you are not considered. Therefore, don’t be shy, apply. Seventy per cent of success is showing up, so put yourself out there. For more information on awards and financial aid at your disposal, visit the Awards and Financial Aid website.

#3: Budgeting is super helpful

If you haven’t already, check out the Awards and Financial Aid office’s amazing webpage on Budgeting Tips. Here are some of the tips mentioned within the webpage which I found helpful. To do a good job budgeting, you need a good framework. Make sure to review all your expenses to best understand your spending habits. To build a good overview of your expenses, visit their Calculating your Expenses webpage. Distinguish fixed costs and variable costs within your budget. Fixed expenses are the long-term costs that stay constant, like tuition, while variable costs are those which vary regularly, such as groceries. To minimize expenses, aim to reduce variable expenses as much as possible, as these are more in your control. Finally, separate needs from wants. By honing in on your needs, you’re able to identify necessities and more critically access where you are spending unnecessarily.

As stated at the beginning of this post, money is a tricky business. But with some demystification, the mysteries of the adult world can be at our fingertips. So, let’s get budgeting and become experts together!