Saving for post-secondary expenses over the summer

If you’re heading back to college or university in the fall, you might find yourself thinking about how to save up some of your summer earnings for the upcoming expenses of your post-secondary education.

After a long school year of not working at all, or working just enough to make ends meet while still making time to study, having a full-time summer income can feel like a windfall.

It can be tough to resist the temptation to spend your paycheque on all the things you likely went without during the school year: clothes, eating out, spending time with friends, maybe a little travel. And while some discipline to save is needed, having a little fun on your time off from school is also part of the big picture.

So if you need a little motivation and some strategies to spend and save wisely this summer, read on.

Set your savings goal

Nothing new here folks: the best way to make sure you save enough money is figuring out how much you need. A simple budget will do the trick: one that takes into account all your income, all your summer spending, and the amount you’ll need for post-secondary expenses. In addition to tuition, some costs you should remember to factor in:

  • Books and additional course fees
  • Stationery, technology and software, and other basic supplies
  • Rent and food
  • Travel back home at holidays
  • Utilities and cell phone bills
  • Parking, gas and insurance, or your transit passes
  • Miscellaneous living expenses like coin laundry, shampoo and conditioner, the occasional haircut, and your Netflix subscription

Cut down on costs

Summer is a great time to try and buy anything second-hand that can be re-used and re-purposed for your student life. Things like books, phones, laptops and furniture are all things you can find used online, at the used bookstore on campus, or at a neighbourhood garage sale.

It’s also a good idea to think about where you can cut down your living costs for the fall if your budget is tight. Having roommates or choosing public transit over a car are a couple good cost-cutting options that you can begin to plan and arrange over your summer break.

Pay yourself first

Now that you’ve got a realistic savings goal and budget in mind, you can work towards that goal by putting a portion of it away with every paycheque.

This is a really good life habit to practice: before you spend all your income on bills and a little fun, you want to tuck away as much as 10% of each paycheque into a savings account and leave it there.

It’s human nature to want to spend the money you have when it’s sitting accessibly in your chequing account. But putting that money aside in a savings account with no linked debit card will help you leave it there to grow. With this strategy, you’ll soon experience the reward of seeing your savings grow and the satisfaction of knowing you’ll have enough money to cover your expenses the whole school year.

Extra income

If you can, it never hurts to pad your budget a little with some extra income when the opportunity arises. Anything from occasional baby and pet sitting, to lawncare for your neighbours, and picking up some extra shifts at your regular summer job, will give you a little extra to put away for the school year.

A few casual shifts throughout the fall and winter semesters can also help keep you on budget, as long as the hours don’t interfere with class time and studying.

Be careful with credit

What you spend is just as important as what you earn and save. It’s pretty easy to rack up credit card debt at any age, but particularly tempting when you’re finally earning a full-time paycheque after months of living lean while studying and in class.

A good strategy is putting a low cap on what you can charge to your credit card. Ask your bank or credit card company to set a limit at or below your budget for summer expenses so that you don’t overcharge and have to dip into your savings to pay off your debt.

Getting into the habit of paying with cash, and paying off your credit card within days of each purchase, are other good habits to keep you on budget and out of your savings.

Call your parents

It never hurts to run your spending and savings plan past your parents for a little extra motivation or strategizing. They’ve likely been saving towards your education for years, so probably have some good advice to offer. And you know they’d love to hear from you.

So while you’re out there enjoying your summer, and earning a healthy paycheque, you can now rest assured you’ll have what you need to cover your college or university expenses in the fall.

That’s more than enough to make any student – and their parents – happy for the whole summer break.

Carmen Kinniburgh

Carmen Kinniburgh is a freelance writer and editor exploring topics and ideas about parenting and families, Canadian science and research, health and medicine, as well as travel and lifestyle. Born and raised in Alberta, Carmen has also lived in Southern Ontario and Manitoba, where she worked in professional communications for a university and a national health charity. Currently living in Thunder Bay, Ontario, she gets all her best ideas and insights for Parentwise from her own three delightfully precocious children.

You may also like...

55 Responses

  1. I simply want to tell you that I am new to blogging and site-building and honestly enjoyed you’re page. Most likely I’m want to bookmark your blog . You definitely have fabulous writings. Thanks a bunch for sharing with us your blog.

  2. DavidBew says: – Ремонт рулевой рейки Хонда, Ремонт рулевой рейки Ауди 100

  3. DavidBew says:

    Ремонт рулевой рейки Бмв – Рулевая рейка Форд Фокус 3, Рулевая рейка Тойота Королла

  4. YorikCalsife says:

    This report supplies current info on sexual and reproductive health, in addition to maternal health. They have demonstrated what is feasible in the world of motion and never simply within the rarifed world of randomized control trials. Senthinel lymph node biopsy in penile most cancers: a crease in postoperative morbidity without compro comparative research utilizing modified inguinal dissection insomnia xbox one [url=]buy 25 mg unisom with visa[/url].
    Use: antibiotic Erythromycin delayed-release capsules (Abbott) Capsules contain enteric coated pellets of erythromycin base. Re-Orienting Health Services The accountability for health promotion in well being providers is shared amongst people, community, teams, health professionals, health service establishments, and governments. Women with one previous cesarean Eating smaller meals and avoiding greasy meals usually delivery with a low transverse uterine incision are candidates for improves symptoms 32 menstrual cycle [url=]buy clomiphene amex[/url]. These further features might embody weak cry, low exercise level, poor feeding, constipation, dry pores and skin, developmental delay, and poor development. He had decreased testicular quantity however did not exhibit different hypo gonadal signs such as gynecomastia or scant pubic hair. This evaluation of those research doesn’t provide a conclusive reply to the causes underlying the extra speedy rate of development or in- creased threat for kidney failure muscle relaxant agents [url=]discount zanaflex 2 mg free shipping[/url]. It may require remedy with anti-inflammatory agents, steroids and common infusions of immunoglobulin (see section 6. In ladies from 25 to 40 years of age, over three-quarters (eighty%) with heavy durations don’t have any underlying cause. Evidence Hyperthyroidism Hyperthyroidism, most frequently GravesпїЅ illness, is found in zero medications like tramadol [url=]60caps purim mastercard[/url]. The analysis should also assess parenting expertise cians who’re offering remedy for general medical for the newborn and for different kids within the affected person s situations is recommended [I]. There have been no vital variations between the groups in the size of labor or the phases of labor, the mode of delivery, admissions to the neonatal intensive care unit, or delivery outcomes, together with Apgar scores and delivery weight (eight). Since the cells can slide over one another, the appearance of this epithelium is dependent upon whether or not the organ is distended or contracted: if distended, it seems as if there are just a few layers; when contracted, it seems as if there are a number of layers virus 1980 imdb [url=]safe linezolid 600mg[/url].
    Dual deficiency of qi (Ki) and blood (Kiketsu Ryokyo) For twin deficiency of qi (Ki) and blood with prolonged ache, primarily hochuekkitogotokishakuyakusan (), renjuin (), juzentaihoto, ninjinпїЅyoeito,daibofuto (), kamikihito, and different deficiency pattern-treating formulae are used. Approximately 50% of men in their 80s have total testosterone levels within the hypogonadal vary. The cortical in addition to sectioned surface presentation could also be as nephrotic syndrome juvenile arthritis in feet [url=]buy 300mg etodolac otc[/url]. It is extra 70 A New Look at Hypothyroidism frequent in older women and ten times extra frequent in women than in males (Tunbridge et al. The purpose is to evaluate consciousness, percepton and public behaviour toward this disease, in addition to to impart AustraliaпїЅs strategies on bettering public data on this area. By inserting a catheter into the affected personпїЅs femoral artery, blood was directed using an extracorporeal circuit through a semi-permeable membrane and then returned to the catheterised femoral vein muscle relaxant during pregnancy [url=]safe 10mg baclofen[/url]. Gluc os e-Re gula ting Horm one s the hormonal control of blood glucose resides largely Fa t M e t a b o l i s m a n d S t o ra g e throughout the endocrine pancreas. Abnormal cells are discovered solely in the first layer of cells within the place where the modifications first started. Intrafollicular obstacles and mobile interactions throughout ovarian follicle improvement erectile dysfunction questions [url=]buy discount avana 200mg on line[/url]. Two studies, however, failed to substantiate this interplay and concluded that alternate contraceptive methods were not needed during ampicillin therapy (16,17). Asenapine within the remedy of acute mania in bipolar I disorder: a randomized, double-blind, placebocontrolled trial. Tilt buckets or move meters might be used to facilitate outflow monitoring and provide continuous measurements allergy action plan [url=]discount allegra 120 mg without prescription[/url].
    Clinical Manifestations • Acute or continual again pain (lasting greater than 3 months with out improvement) and fatigue. Immobilization is achieved with a fiberglass cast extending from the hand to the proximal humerus. Clinical trials and other studies of Al-Anon show that collaborating members of the family experience reduced depression, anger, and relationship unhappiness, at rates and ranges corresponding to those of individuals receiving psychological therapies prostate cancer knee pain [url=]effective 5 mg fincar[/url].

  5. Thanks for your suggestions. One thing we’ve noticed is the fact that banks along with financial institutions really know the spending behaviors of consumers while also understand that most people max out there their credit cards around the getaways. They sensibly take advantage of this kind of fact and start flooding the inbox plus snail-mail box with hundreds of 0 APR credit cards offers right after the holiday season concludes. Knowing that if you are like 98 of American community, you’ll rush at the one opportunity to consolidate financial debt and switch balances to 0 APR credit cards.

  6. One thing I would like to discuss is that weight loss program fast can be achieved by the correct diet and exercise. Ones size not only affects the look, but also the overall quality of life. Self-esteem, depression, health risks, plus physical capabilities are impacted in weight gain. It is possible to just make everything right whilst still having a gain. If this happens, a condition may be the primary cause. While an excessive amount food and not enough exercise are usually to blame, common medical conditions and key prescriptions can certainly greatly increase size. Many thanks for your post right here.

  7. Merely wanna input that you have a very nice web site , I like the layout it really stands out.

  8. sport surges says:

    What i don’t realize is in fact how you are now not actually a lot more smartly-appreciated than you may be now. You are very intelligent. You understand thus considerably with regards to this subject, made me in my view imagine it from a lot of varied angles. Its like women and men aren’t interested except it is one thing to accomplish with Girl gaga! Your own stuffs great. All the time deal with it up!

  9. Full Report says:

    Hi would you mind sharing which blog platform you’re working with? I’m planning to start my own blog soon but I’m having a difficult time making a decision between BlogEngine/Wordpress/B2evolution and Drupal. The reason I ask is because your design and style seems different then most blogs and I’m looking for something unique. P.S Apologies for getting off-topic but I had to ask!

  10. Hi there, just became aware of your blog through Google, and found that it’s really informative. I am gonna watch out for brussels. I’ll be grateful if you continue this in future. Many people will be benefited from your writing. Cheers!

  11. This is very interesting, You’re a very skilled blogger. I’ve joined your feed and look forward to seeking more of your fantastic post. Also, I have shared your website in my social networks!

  12. view it now says:

    I just want to mention I’m all new to blogging and really liked you’re web page. Almost certainly I’m going to bookmark your blog post . You surely have excellent well written articles. Thank you for revealing your webpage.

  13. Utterly pent articles , thankyou for entropy.

  14. porno says:

    As I site possessor I believe the content material here is rattling wonderful , appreciate it for your efforts. You should keep it up forever! Good Luck.

  15. Well I definitely enjoyed studying it. This tip provided by you is very helpful for good planning.

  16. I was so satisfied by your blog. Thank anyone so much.

  17. I’m more than happy to discover this website. I need to to thank you for your time for this wonderful read!! I definitely liked every little bit of it and i also have you book-marked to look at new things in your site.

  18. I have been checking out a few of your stories and i can claim clever stuff. I will surely bookmark your website.

  19. 예스벳88 says:

    Best view i have ever seen !

  20. Best view i have ever seen !

  21. Nice post. I learn one thing tougher on completely different blogs everyday. It’ll always be stimulating to read content material from different writers and observe just a little something from their store. I’d favor to make use of some with the content material on my blog whether you don’t mind. Natually I’ll provide you with a hyperlink in your internet blog. Thanks for sharing.

  22. We’re a group of volunteers and starting a new scheme in our community. Your website offered us with valuable information to work on. You’ve done an impressive job and our entire community will be thankful to you.

  23. As I website possessor I believe the content material here is rattling magnificent , appreciate it for your efforts. You should keep it up forever! Good Luck.

  24. After I originally left a comment I appear to have clicked on the -Notify me when new comments are added- checkbox and from now on each time a comment is added I recieve four emails with the exact same comment. There has to be an easy method you can remove me from that service? Appreciate it!

  25. Hello, does one like hot girls? Check liseli seks !

  26. Regards for helping out, great info. “It does not do to dwell on dreams and forget to live.” by J. K. Rowling.

  27. The the next occasion I just read a blog, Hopefully that this doesnt disappoint me up to this. I am talking about, It was my method to read, but I really thought youd have something interesting to express. All I hear can be a number of whining about something that you could fix should you werent too busy looking for attention.

  28. Best view i have ever seen !

  29. Best view i have ever seen !

  30. 슬롯 says:

    Best view i have ever seen !

  31. Hiya, have you ever in your life thought about to create about Nintendo or PS handheld?

  32. You’ve made some good points there. I looked on the internet for more information about the issue and found most people will go along with your views on this site.

  33. I just want to mention I’m very new to weblog and certainly savored your web blog. Almost certainly I’m likely to bookmark your blog post . You actually have exceptional articles. Bless you for sharing with us your website page.

  34. If you are looking for the ultimate pest control company, look no more. These guys rock!

  35. After study several of the blogs for your site now, and i genuinely appreciate your way of blogging. I bookmarked it to my bookmark internet site list and will also be checking back soon. Pls look at my web page as well and figure out what you believe.

  36. hey, your internet page’s style is marvelous and loving it. Your posts are stunning. You should keep up the good work. Sincerely…

  37. jewelry says:

    Your style is so unique in comparison to other people I have read stuff from. Thank you for posting when you’ve got the opportunity, Guess I’ll just bookmark this page.

  38. Great article! I’ll return to see your next piece! Thanks!

  39. free horror says:

    Hi there! This article could not be written much better! Looking at this post reminds me of my previous roommate! He continually kept talking about this. I am going to send this information to him. Fairly certain he’ll have a good read. Many thanks for sharing!

  40. Having read this I thought it was really informative. I appreciate you taking the time and effort to put Slon Online Terbaru 2020 this article together. I once again find myself spending a lot of time both reading and commenting

  41. MOTORCYCLE says:

    We’re a bunch of volunteers and opening a new scheme in our community. Your site offered us with helpful info to work on. You’ve done a formidable process and our whole community will likely be thankful to you.

  42. Very interesting subject, appreciate it for putting up.

  43. Hi there! Quick question that’s completely off topic. Do you know how to make your site mobile friendly? My site looks weird when viewing from my apple iphone. I’m trying to find a template or plugin that might be able to resolve this issue. If you have any recommendations, please share. Many thanks!

  44. An impressive share! I’ve just forwarded this onto a coworker who had been conducting a little homework on this. And he in fact ordered me lunch due to the fact that I stumbled upon it for him… lol. So allow me to reword this…. Thanks for the meal!! But yeah, thanks for spending time to discuss this topic here on your website.

  45. Greetings! Very useful advice within this post! It is the little changes that produce the largest changes. Many thanks for sharing!

  46. Wow! Thank you! I continually wanted to write on my website something like that. Can I take a fragment of your post to my website?

  47. Hello, you used to write excellent, but the last few posts have been kinda boring… I miss your super writings. Past several posts are just a bit out of track! come on!

  48. I really enjoyed this article. You are an excellent writer. I’ll return to see another! Thanks so much!

  49. Way cool! Some very valid points! I appreciate you writing this article and also the rest of the website is very good.

  50. Camille Yaw says:

    Appreciate the helpful info I love sucking dick btw hmu

  51. Having read this I believed it was really enlightening. I appreciate you spending some time and effort to put Pasaran Judi Bola Mix Parlay this information together. I once again find myself spending a lot of time both reading and commenting

  52. I really love your website.. Great colors & theme. Did you build this website yourself? Please reply back as I챠m wanting to create my very own website and want to find out where you got this from or what the theme is named. Thanks!

Leave a Reply

Your email address will not be published. Required fields are marked *