Budgeting tips and tricks
Planning to pursue postsecondary education is a big decision and should not be taken lightly. A postsecondary education is an investment and should be treated as such.
Saving and budgeting for college and university is necessary to successfully complete your education. Learn how to make a budget, and stick to it!
Financial Aid and Awards presents Thrifty Thursdays, a series of workshops to help you stay on track financially.
Workshops being planned for the summer term include:
- Money, money, money: All the sources of financial aid and awards
(new and current students)
Thursday, May 18 from 12:30 to 1:30 p.m.
Thanks to all those who attended our previous workshops:
- Budgeting basics: How to manage money during school
- Money troubles: How to manage debt and financial stress
- You’re accepted: How to finance your program
- You’re graduating: How to plan for OSAP repayment
- Tax time: How to get and maximize your tax slips
If you’d like a copy of the information, please email Financial Aid and Awards.
Check out the My Budget tool, located on MyGCLife under Money. With a budget in place, you will be able to effectively manage your money, save for expenses and prepare for emergencies.
The budget template includes educational expenses, housing, food, transportation, miscellaneous costs and health insurance, as well as sources of income from scholarships, grants, bursaries, RESP, loans, OSAP and work. The template is intuitive and easy to understand.
Budgeting – the foundation of sound financial planning
- Review your budget monthly
- Are you on target?
- When you subtract your expenses from your incoming money, does it balance?
- What extra expenses can you reduce if necessary?
- Plan for the future
- Try to save money as often as possible, even if it is only $5 at a time
- Keep organized records of all your financial affairs (receipts, etc.)
- Maintain a good credit standing
- Even in emergencies, limit credit card use and available credit
- Explore part-time jobs at the college
What should I do to prepare for the cost of my education?
Saving for your education is the key to success. How you fund your education is a decision that needs to be made early on.
If you are applying for a private student line of credit at a bank or financial institution, different rules and procedures may apply, so check with your bank or financial institution’s procedures and deadlines.
The more money you save for your education, the less debt you’ll face after graduation – it’s wise not to expect full funding of your education from another source since it’s not always available.
Financial Aid and Awards provides a centralized service located at the Barrie Campus within the Office of the Registrar.
Please note, all Financial Aid and Awards services are available between 8.30 a.m. and 4:30 p.m., both in person and remotely.
Hours: Monday to Friday, 8:30 a.m. to 4:30 p.m.