Transcript Personal finance

Simple Tips for Students

Keep a spending list
 You may be surprised to find out where your
money is going
 Once you find out where your money is going,
consider ways to reduce spending
 For example, if you take taxis a few times
throughout the month, consider purchasing a
bus pass
 Changing small things can add up to substantial
savings

Consider getting a part-time job
 Most students have enough time to hold down a part-time job
○ Time management a concern? Consider attending the S.T.E.P.S.
Session, “Taming the Chaos” (www.uwindsor.ca/steps)
 Job-search musts
○ Start early – Apply for summer jobs at the beginning of the Winter
Semester
○ Talk to people – Tell people you are looking for a job and use your
connections
○ Be persistent – If you are genuinely interested, show it
○ Be prepared – Cover letters, resumes, and interview skills (Check
out www. uwindsor.ca/cce )
 Look into the Work Study program
○ Part-time jobs on campus for students demonstrating genuine
financial need (www.uwindsor.ca/awards - click on Work Study)

Consider getting a part-time job cont.
 Potential on-campus jobs
○ Event security or pub staff
○ Teaching or graduate assistantships
○ Exam proctoring or tutoring
○ Working in a Residence Hall or at the St. Denis Centre
 Tips to remember:
○ Look for jobs that allow you to study while working, or in the least
that are flexible to fit your student schedule
○ Tell your summer employer that you are interested in returning
○ Ask to have your cheque automatically deposited – you’ll be more
likely to save this way

Limit your use of debit & credit cards
 The benefit to using plastic: IT’S EASY
○ You can make a enormous purchase with your debit or
credit card in a matter of seconds
 The problem: LOSING TRACK of where your
money going
○ A few bucks here, a few bucks there – and all of a
sudden you’ve gone over your budget
 The solution: USE CASH
○ To keep daily spending in check, use cash instead
of your credit or debit cards
○ It might not be as fast, but it helps you visualize
just how much money you’re actually spending

Be smart when buying textbooks
 You can’t eliminate this cost, but you can reduce it
 Are textbook required or suggested? Determine which textbooks
you must have
 Where to find used books?
○ The University Bookstore (labeled with a “used” sticker and
stored with the new books)
○ Posted for sale online (i.e. “New At UWindsor” Facebook group)
or on bulletin boards around campus
○ The UWSA Used Bookstore (www.uwsa.ca/used-book-store)
 Talk to your peers who have taken already taken the class,
sometimes it is possible to simple borrow the book
 Check out if your textbooks are on course reserve at Leddy
Library (especially helpful for “suggested” textbooks)

Consider transportation costs
 The trip home
○ Consider all options: Car, bus, plane, train
○ Can you save by purchasing tickets early? In bulk?
○ Do you have an ISIC Card? Available through the UWSA
(www.uwsa.ca/student-resources)
 Ask yourself: Do I really need my own vehicle?
○ The costs of having your own car can really build up (E.g.
insurance, gas, repairs, regular service costs
○ What other options are available?
○ Consider carpooling regularly and split the gas

Steer clear of pointless costs
 Return your library books and movie rentals on time
 Cancel your old gym membership - The St. Denis
Centre is free for all students!
 Avoid overages on your cell phone – Stay within your
minutes/texts or consider changing your plan
 Watch where you park – Parking fines can add up
quickly!

Take advantage of scholarships/awards/
bursaries
 Why are they so great? Because they are free money
 Scholarships are, for the most part, based on your grades –
another reason to put in a good effort
 Bursaries are a gift of money to students who demonstrate
genuine need – because not everyone’s an A student
 Connect with the Student Awards and Financial Aid Office
today to get informed about available scholarships, awards,
and bursaries (http://www.uwindsor.ca/awards)
 Also consider…
○ Any affiliations, clubs, and/or teams you are a part of
○ Your parents workplace and professional affiliations
○ Searching awards online (e.g. studentawards.com)
 Don’t hesitate - apply as early as possible
References


http://financialplan.about.com/od/studentsandmoney/a/1000
BestSecrets.htm
Baker, M. (1996). The debt-free graduate: How to survive
college or university without going broke. Toronto:
HarperCollins.