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5 Ways to Save Money While Studying in Canada

It’s exciting to be starting out on a new part of your life, as an international student living in Canada. However, it can be a little daunting too; especially when it comes to finding enough money to live on.

Of course, it may be possible to work while you are studying. This can be a great way of getting a few more dollars in your pocket. However, if you want to be able to live well as a student you also need to manage your money carefully. So, how can you save money so that you make best use of you budget?

Be smart with your budget

The most important step when it comes to saving money as a student in Canada, is to have a planned budget in place. this is because having the figures in front of you means that you are less likely to overspend.

It’s easy to create a budget. You just need to set some time aside to list all of your income such as student loans, money from parents and part-time earnings. Then, you need to list expenditure such as rent and your phone contract. Ideally, you should also put some money aside towards savings in case of any emergencies. Subtracting your expenses from your income shows you how much money you can afford to spend. You then need to work out how you can make best use of this money.

Brush up on DIY skills

While you may not be responsible for carrying out any household repairs, it’s still useful to be able to fix items such as furniture. Having this ability means that you can repair damaged items rather than having to spend money on new ones. For instance, you may be able to stick damaged items or paint over chips and wear and tear. These are pretty basic skills that it does not take much time to learn.

Be creative when buying textbooks

Every student knows that textbooks can be expensive to buy. However, you do have options. You may be able to borrow textbooks from the campus library or buy second-hand copies. Many students also choose to swap textbooks amongst each other or to sell their used textbooks on at a cheap price. You may be able to take advantage of this. There are several creative options to consider as an alternative to buying a brand new textbook.

Make Skype your best friend

If you are away from home for the first time, and living in a foreign country, you need to be able to talk to other people. Canadians are approachable by nature, so you should be able to make new friends easily.

Save Money Studying in Canada
Save Money Studying in Canada

However, you will still want to be able to speak to your friends and family back home. One of the most cost-effective ways to do this is to use Skype. You can make Skype calls on your phone or you can choose to video chat. It’s a great way of feeling as though you are still connected to what is going on at home.

Do not pay to exercise

Exercise is important if you want to stay healthy and optimize your ability to study. This does not mean that you have to pay to go to a gym. There are plenty of ways that you can get exercise free of charge; such as walking as much as possible, or cycling.

If you want a varied exercise regime, you can start investing in some gym equipment for your home. If you are living with housemates, you may all want to invest in a shared mini gym where you can work out.

You want to make the most of your experience as an international student living in Canada. These tips on how to save money should help you to do this.


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