Financial tips for Post-Secondary Students

Kathy Buckworth, an award-winning author and parenting expert with personal finance flair, has compiled tips for students and parents on how they can save money during this expensive time, as it continues to be a challenging transition for students learning how to live (and save/spend) independently. Below are her top tips and best practices to help first-year students lighten the load on their wallets!

Kathy’s tips not only show how parents and students can save money, but also help them put extra cash in their pockets by shopping second-hand for big-ticket items and necessities. In fact, according to Kijiij’s 2017 Second-Hand Economy Index Report, last year alone, Canadians spent $29B on second-hand goods, while saving an average of $843 when choosing to buy used over new! As explained in detail below, some of the top categories where students can save the most are technology, textbooks, furniture and décor, and autos, with savings of up to 75 per cent!

Kathy Buckworth’s Tips for Post-Secondary Students 

  • Use the second-hand economy to alleviate costs: Buying used over new can help students and families cut costs on important school items including textbooks, tech items, furniture and décor, and autos. Nationally, searches on Kijiji for student-related supplies and accessories such as textbooks, laptops, printers, desks, and mini-fridges peak between the months of June and September– so many Canadians are already turning to the second-hand economy in search of savings leading up to the new school year. Here are the some of the top categories and finds on Kijiji with the greatest savings:

o    Technology: Electronics/Computer equipment have among the highest savings potential when buying used over new (per Second-Hand Economy Index). In looking at a few recent listings, you can find items up to 75% less than retail prices!

o    Textbooks: Since they’re only useful for one or two courses at a time, buying second-hand textbooks can save 50% or more, helping to ease the strain on student budgets.

o    Furniture & décor: From decorative pillows and desk lamps, to wall art and housewares, students are sure to be on the lookout for ways to personalize their dorm or living space. Plus, furniture offers the highest perceived savings to Canadians when buying gently used over new – with Canadians saying they’d likely pay nearly 4.5 times more to buy new (per Second-Hand Economy Index).

o    Autos: Whether they’ve saved through high school or parents are looking to buy a first car for their kid, Kijiji has a wide range of options with more than 1 million auto listings at any given time! And buying a used car is a great way save on high-value and quality cars – there are so many options of vehicles to choose from that are less than 5 years old and in great condition.

  • Create a realistic budget while away at school. This should include: tuition, residence, meal plan, books, and incidentals (entertainment, transportation, etc). A simple spreadsheet that you revisit monthly can help ensure you’re on track.
  • Get a no-fee bank account. Most financial institutions offer a no-fee account for students, along with a no-fee credit card, which can help build your credit history, and provide a financial safety net.
  • Take advantage of student discounts wherever possible. Carry your student card at all times to take advantage of savings!
  • Consider getting a part time job on campus during the school year. There are normally quite a few campus jobs available at school, with variable time commitments required so you can manage work and school.
  • Check into scholarship awards, bursaries and grants. Many go unclaimed from universities/associations because students aren’t aware of the range available.  I recommend visiting also go direct to the school you are attending to see what options are available.
  1. I enjoy you because of your own efforts on this web site. My niece really loves participating in investigations and it is easy to understand why. All of us notice all about the compelling ways you give insightful tricks on the website and invigorate response from other people on the issue while my simple princess is now learning a lot of things. Enjoy the remaining portion of the new year. You’re the one doing a superb job.

  2. Thank you so much for providing individuals with remarkably memorable chance to read in detail from this web site. It can be so great and as well , stuffed with a good time for me personally and my office mates to visit your site nearly three times every week to read through the latest secrets you have. Of course, I’m so certainly fulfilled with the cool solutions you serve. Certain two points in this article are in fact the most effective we have all had.

  3. I simply wanted to thank you so much all over again. I’m not certain what I would have accomplished without these basics shown by you over that area. It had become the frightful problem in my circumstances, nevertheless taking a look at the very skilled manner you managed that forced me to jump over fulfillment. Extremely grateful for the support and thus hope you comprehend what an amazing job you have been undertaking training people by way of your web page. I am sure you haven’t encountered any of us.

  4. I and my friends have been viewing the best solutions found on your web blog and then suddenly I had a terrible suspicion I never thanked you for those secrets. Those young boys are actually for this reason passionate to read through all of them and now have pretty much been using those things. We appreciate you indeed being well accommodating and then for making a choice on variety of quality information millions of individuals are really needing to be aware of. My very own sincere regret for not expressing appreciation to earlier.

  5. I must show my thanks to you for rescuing me from such a crisis. After surfing through the world-wide-web and coming across notions which were not pleasant, I thought my entire life was done. Existing without the answers to the issues you have resolved through this short article is a crucial case, and the ones that might have in a negative way damaged my career if I had not encountered your web page. Your training and kindness in handling every item was important. I am not sure what I would have done if I had not encountered such a thing like this. I’m able to at this time look ahead to my future. Thanks for your time so much for this impressive and result oriented help. I won’t hesitate to endorse your blog post to any person who will need care on this area.

  6. I have to express some thanks to you just for rescuing me from this particular difficulty. After exploring through the world-wide-web and seeing thoughts that were not powerful, I was thinking my life was well over. Living without the presence of approaches to the issues you have resolved all through your entire article is a critical case, and those which may have in a negative way damaged my career if I had not discovered your site. Your natural talent and kindness in touching the whole lot was priceless. I don’t know what I would have done if I had not come upon such a thing like this. I’m able to now look ahead to my future. Thanks so much for your specialized and results-oriented help. I won’t think twice to refer your web blog to any individual who would like guide about this subject matter.

Leave a Reply

Your email address will not be published.

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>