Proven ways for International Students in Canada to Save Money

Useful Tips

The last thing you want in addition to the stresses of adjustment and study-load, is to have money problems. So what is it you can do to keep the money woes under control? Let’s take a look at some proven methods by which you can stretch your savings while you are studying there:

  • Create a Budget- Probably one of the biggest mistakes international students make is that they don’t plan their spending properly. Figure out exactly how much money you have and plan your entire annual budget accordingly. Also, understand and have very clear-cut demarcations about what a necessity is and what has to be categorized as a luxury. Fill that out in a diary and stick to it without faltering
  • Phone Calls- Most international students have a problem with managing this particular expense. When you are homesick and want to hear a familiar voice, you call home. But you end up paying hefty international calling rates. The best way to keep this in check is to use Skype or international calling cards. It can make a significant difference to your pocket
  • Learn to Swap- You will soon find out that if there is something you do not want, someone else in your college will. Ranging from books, bags, shoes and every other bric-a-brac you can think of is swappable. You can always trade things you don’t need with something that you really need. Classified ads and auction sites are excellent mediums for trades. You can also host a swap soiree or post signs around your campus’ boards
  • Shopping Right- Do all your grocery shopping at the larger supermarkets and scout for weekly discounts. Don’t go to the local grocery store unless you really need to- you will end up saving huge amounts of money
  • Books- When you are in college, there are certain books you can’t do without. Buy the ones that are required for the curriculum, but also scope your college library for everything else. If you get lucky, you might also find a second year student who doesn’t need his/her books any longer- you can use those; save yourself some money and do your bit for the environment too
  • Entertainment- It’s important to keep a tab on eating-out costs and also curb your entertainment activities. This does not mean you have to spend the weekend moping around in your dorm room. Simply look for on campus activities that are free or ones that you don’t have to spend too much on

In short, be judicious with your money and be constantly aware about how you are spending it. Look for scholarships and part-time jobs and slowly but surely, your wallet will be heavier and you will have peace of mind.