November is Financial Literacy Month
Sometimes it’s the little things you don’t know that can have a huge impact on your financial well-being — filling you with stress and ultimately affecting your studies.
And it’s those little things that can turn out to be key to feeling calm about your future and in control of your money.
In an effort to alleviate stress and put you on the path to financial wellness, the Financial Aid and Awards Office has some ideas to help you get ahead.
In recognition of Financial Literacy Month, here are three little-known tips for managing money as a student:
Many student awards are not based on your grades
Leadership, life skills and heritage are just some of the things considered instead of grades in more than 86 per cent of the awards listed on ScholarshipsCanada.com. Do your research and find out which awards apply to you.
Taking longer to complete your studies could be costly
Frequent changes to your program and repeating or dropping courses can prolong the time you need to finish your program. And time is money! Do some research in advance and make sure that you follow your academic plan.
How you spend your money can affect your academic dreams
Too much unplanned spending could result in running out of the money you need to pay your school fees. If you don’t want to come up short, put some “fun money” into your budget!
A little wiggle room in your budget for social activities is a good way to keep on top of your spending and leave you with funds to cover your educational expenses.
Remember, if furthering your education is your goal, then make it your priority when deciding where to spend your money.
Visit the Financial Aid and Awards Office Fun and Games Kiosk on November 18 between 10 a.m. and 12 p.m. in the atrium of the John Molson Building (MB) as part of the Government of Canada’s Financial Literacy Month.