Preet Sran is a passionate nursing student who aspires to work in the intensive care unit. She is interested to exploring public health, promoting equitable care and improving health outcomes.
Let’s be real. Being a student isn’t cheap. Between tuition, rent, groceries and those little sweet treats, money can disappear fast. With everything getting more expensive, stretching every dollar is more important than ever. But, you don’t have to give up fun habits to do it!
Take advantage of free money
If you’re not applying for scholarships or grants, you could be missing out on hundreds (or even thousands) of dollars. Many students assume they won’t qualify, but there are scholarships for everything, from academics and extracurriculars to volunteer work and hobbies.
Pro tip: York has a scholarship database, and sites like Scholarships Canada and OSAP offer even more options.
Use student discounts
One of the best perks of being a student is the discounts, you just have to know where to look! Apple, Dell, H&M, Roots, Spotify and Amazon Prime all offer student deals, but there are plenty of ways to save on food and recreation, too.
- York’s Value Meal Program provides affordable meal options on campus, making it easier to grab a filling meal without breaking the bank. The YFS Food Support Centre also offers free non-perishable food and essentials to support students in need.
- If you love fresh, local food, check out Maloca Community Garden on the Keele Campus, which sells affordable produce in the summer and fall. Some grocery stores also offer student discounts on certain days, just ask at checkout!Want to stay active without breaking the bank?
- A Tait McKenzie membership gives you access to the gym, fitness classes, an indoor track, courts and a pool.
- If you commute, stop letting transit drain your wallet by setting your PRESTO card to a student fare. Apps like SPC and UNiDAYS also track discounts so you don’t miss out.
Pro tip: If you cook at home, Odd Bunch delivers “ugly” but perfectly good produce to your door for cheap! For a little surprise, I love Too Good To Go. You get random bags of leftover food at a huge discount. One time I got enough Chinese food to last me a week, another time a huge amount of bread. It’s a gamble, but a cheap one.
The reality of budgeting
With the challenge to save, spend wisely and enjoy university, budgeting as a student definitely takes some planning. Instead of stressing over strict budgeting rules, I like to focus on covering the essentials first. Set a realistic spending limit for non-essentials and save what you can, even if it’s just a little! Some weeks, that might mean saving nothing at all, and that’s okay too.
Pro tip: For budgeting tips, check out the Government of Canada's webpage about budgeting. They break it down into easy steps and even have a budget planner to help you stay on track. Think of it as a cheat-sheet for your money!
Be smarter with spending
Spending adds up fast. Here are some tips to make the most of your money!
- Setting a weekly limit and dedicating a separate checking account just for spending can make it easier to track and manage your expenses.
- Try the “24-hour” rule. If you see something you want, wait at least a day before buying it. This makes you think twice before purchasing and prevents overspending.
- Cooking at home instead of relying on takeout is another great way to save money while eating healthier.
Being a student can have its challenges at times, but managing your money doesn’t have to! By making a few changes, whether it’s finding student discounts, tracking spending or applying for scholarships, you can take control of your finances without giving up the things you enjoy.