








Buying Your Own Food
Choosing the Right Bank
Budgeting for Success
Transportation & Travel
Housing
Taxes
Cost Effective Buying
Employment
Miscellaneous Expenses
Smart
Shopping
Average monthly food
budget - $200
• Using coupons and reward
systems (Air miles,
Optimum points, Groupon etc).
• Keep an eye out for sales
• Shop the flyers!
• Buying in bulk
• Eating healthy on a budget
•
Common
Mistakes
Eating out
• Not enough time to cook?
- Make food in bulk
• The little things DO add up
• Don’t let “lazy meals” become a regular
choice
• Find easy-to-make student recipes that
fit your budget
•
IN A BANK








IN A LOAN/ LINE OF CREDIT
Free Account Usage
Free Debit
Transactions/Withdrawa
ls
No Minimum Balance
Free Savings/Chequing
Account
Free Credit Card
Branches & ATM’s
nearby
Online/Mobile Banking
Fraud Protection







A long payback period &
ability to pay off anytime
A low interest rate & if
it’s fixed
Interest only payments
while in school
Ability to combine (Bank
loan + Government loans)
Borrowing the right
amount
Administration charges &
other hidden fees
Always shop around
before choosing
•
Apply for scholarships!
•
Entrance Scholarships (automatically awarded)
•
•
•
Check for scholarships offered by your
parent’s employers or your place of
employment (Ex. Team Tim Horton’s
Scholarships, McDonalds etc.)
You can search for scholarships that apply to
you on the myUWindsor portal under the
“Financial Matters” tab (click on “Awards” from
the menu on the left)
Visit www.uwindsor.ca/awards





Consider your willpower and ability to budget
If you are unable to pay the monthly statement,
high interest rates just add to your debt
Can help you build a credit score – if you use it
wisely
They can offer some perks like 1% cash back,
points programs, ability to shop online
Need to use it responsibly and not spend past
your means or it is a hard cycle of debt to break
Tips for Using
Credit Cards
•
•
•
•
•
•
Stick to one Credit Card
Make reminders in your
phone/calendar to pay off
your balance
Pay the FULL statement balance
Start with a low limit ($500)
Don’t use cash back with a
Credit Card, only a Debit Card
Keep all your receipts and go
over your credit statement to
ensure accuracy
• Try not to make purchases
that you know you cannot
pay for in the very near
future
• Assess your financial
situation to see if you can
afford your credit card
purchases
Every year, thousands of people are victims of identity theft
Here are ways to reduce identity theft:
1.
2.
3.
4.
5.
6.
7.
8.
9.
Shred all documents with important
information
Do not provide any confidential information to
unsecured websites or unfamiliar sources
Carry the least amount of identification you
need
Never disclose our credit card number by
phone or email
Beware of “phishing” scams. These emails are
meant to try and get you to wire transfer them
money in regards to false events.
Beware of emails from unknown senders.
Virus’s or Trojans can be used to hack into
your computer to take information
Keep all your receipts and then go over your
credit card statement to ensure accuracy
If any of your identification is stolen, report it
immediately and close any accounts
Choose difficult passwords
Your ability to manage your money is crucial to your
survival
 In order to make a budget, you have to calculate how
much money you have coming in and how much you
need to put out
Here are the steps:

1.
2.
3.
4.
5.
6.
Establish how much money you have at the moment to put towards
your year
Calculate your revenue – income for jobs, parents, scholarships
Calculate your expenses - insurance, gas, rent + hydro, phone bill,
food, tuition, books, travel expenses, social events, miscellaneous
costs
Once you’ve established your financial situation (Revenue – Expenses),
analyze if you need a loan/line of credit
Plan a budget per month/week to allocate how much money you
should be spending on various things
Keep track of your spending and see where your money is going – you
may be surprised at how much money is “wasted” on silly things




If you have a set plan of how
much you’ll spend, only
bring that much with you.
That way you can’t spend
more.
If your parents are willing to
help you, use that to the
fullest!
Review your expenses on a
monthly basis and ensure
you’re on track with your
budget
Make realistic estimates
when budgeting to avoid
having insufficient funds
Do You Really
Need a Car?
If you are living near campus or have public
transportation available, is it worth having a
car?
• Assess the cost of insurance, gas, parking and all
those unexpected repair costs that you will incur.
Explore your “green” options – walking, biking
• Visiting home?
-Train
-Bus
-Plane
-Carpool
Scenario: Round trip to Toronto
• Most locations offer discounts on tickets for
students

By Bus: $89

By Train: $160 OR $60 (Based on
• May be expensive to visit home
Special Via6 offer)
-plan with your family to

By Plane: $657

By Car: $60 (approximate if
decide how many times you
carpooling)
can afford to visit
•








Great way to meet students
Heavier involvement with
campus life
Convenience for campus
activities
Support and care for
establishment
Ability to switch rooms if
necessary
Can be paid for with
scholarships targeted at
residence
Internet is available for free
Secured entry






Risk of having problems
with roommates
Smaller living space
Possibility of shared
bathroom and kitchen
Might not have air
conditioning
Rules you have to abide
by
Meal plan is compulsory





Option to choose
roommates
Can make food & buy
groceries, which can
save money
If near campus, can be
as practical as residence
Look for all-inclusive
housing
May have more freedom
in terms of rules








Once lease is signed, there is
no backing out
Problems with roommates
can occur
Internet/Cable is expensive
Have to deal with a landlord
for maintenance issues etc.
Not as easy to meet other
people
Might need to buy furniture
No secured entry (unless in
some apartment buildings)
Might not have air
conditioning





Deadlines &
How to file
What is income?
What is
deductible?
Forms you need
Keep your
documents!
You’re not the only one
 Used book sales
 Online sources
 Used furniture

Resisting temptation
 Going over the
border
 Alternatives to
transportation





Overworking
Focus on what
matters!
Working summers &
budgeting
Working on campus




Beware of the dangers of
gambling
Be realistic and know when
to stop
Online Poker, Betting,
Casino, Bingo & Scratch
tickets
Prioritize your money –
wasting it on gambling is
not a smart decision on a
budget




Consider alternatives to spending money
when going out
Responsible drinking
Budgetised consumption
Know how you’re getting home








Cheap classes at St. Denis
Detroit Tunnel Bus
-Renaissance Centre
-Detroit Institute of Art
Summer Festivals
-Beaverfest
-Bluesfest
-Epicure
University Players
Concerts at Blind Dog
Intramural sports
Palace Cinemas – Cheap
Tuesday movies
Specials happening at your
favorite places











Odette Sculpture Park
Windsor river front
Jackson Park
Lancer games!
Ojibway Park and Nature Centre
Art Gallery of Windsor- Free
Wednesdays!
Summer festivals
-Carousel of Nations
-Fireworks
-Art in the Park
Windsor Symphony Orchestra – free
summer concerts
School of Music – free events
Join a club and attend events
Volunteer!
DRINKING
SMOKING / DRUGS



Prices
Quitting
Illegal &
consequences


Prices
e-CHUG
challenge


Are you paying for
only the services you
use?
Establish what you
can cut out and what
you may want to add
(ex. long distance calling)

Use Skype to
communicate with
friends and family
Being a university student doesn’t
have to mean being in debt
 Budget your money, take
advantage of services that can help
you and spend wisely to ensure
financial success
