saving tips for students in Manitoba (if you want to get ahead)

December 16, 2019

Looking for savings tips for students? You’ve come to the right place.

When you’re spending thousands of dollars on tuition and hundreds of dollars on textbooks, saving money can feel more difficult than your calculus midterm or surviving the frigid temperatures of a Manitoba winter.

If you’re studying in Manitoba, you’ll want to take note of the following credit union approved saving tips for students. We go over how to manage your finances and how to save on food, transportation, and entertainment. Yes, students can have fun too!

Finance

Student account                       

Saving tips for students may be hard to follow but at Sunova we make the process a breeze because students bank free. To help make the decision to switch a no-brainer, we offer a variety of perks including:

• No monthly fee
• 40 free (electronic only) transactions
• 4 in-branch debits
• Unlimited Interac e-Transfers®
• Mastercard® with $500 limit (OAC)

See our handy student account page that goes over all the details.

Budget

Once you have the proper student account in place, it’s time to make a budget. As a student and a beginner budgeter, sitting down and realizing your spending habits can be a rude awakening.

However, once you get the hang of planning your expenses and sticking to your goals, budgeting will become your new best friend. Here are a few quick tips to help get you started:

• Beware of overspending
• Understand the basics, like the 50/30/20 method
• Budget with a significant other or family member, so they can help keep you accountable
• Ask for help, like from a staff member at Sunova
• Download a simple excel sheet to track your spending and savings
• Don’t fall behind

If you’re still scratching your head, check out this handy guide on budgeting for beginners.

Food

Make your own

Being hungry and seeking out saving tips for students are two things that don’t really go together. But, when you properly fed, take the following suggestion into account: make your own food.

It can seem a hassle to make breakfast, lunch, and dinner every single day but you’ll definitely be saving money. Here’s how to get started:

• Hop aboard that meal planning train.
• Take advantage of leftovers.
• Make a quick breakfast in the morning. Even if it’s something small, it’ll be easier to say no to your local coffee shop or fast food joint on the way into class.
• Brew your own coffee. It might not seem like much but if you’re spending just $2 a day on a cup of joe and then quit the habit, you could end up saving $500 per year. Now that’s a pretty penny!

Free school meals

Attending seminars, career fairs, club meetings or recruitment sessions are easy ways to get a free meal or two. Keep your eye out for posters on campus, sign up for your university or department-specific e-newsletter, or follow relevant accounts on social media.

Transportation

Bus

If you live in the city where you’re going to school, that’s great! Most cities in Manitoba, like Brandon, Winnipeg, or Selkirk have public transportation systems, which are convenient and cheap to use. If you go to post-secondary school in Winnipeg, the subsidized Peggo card is definitely your best bet.

However, don’t be deterred once minus 40 rolls around. It certainly can be easier to drive and pay for parking but this is incredibly expensive, especially if you are going to school every day.

Carpool

If you live in a smaller town and are commuting to Winnipeg, consider joining a carpool group. Not only is this good for the environment, but splitting gas money will keep you smiling all the way to school. (Even if you’re on the way to an exam).

Entertainment

Stay at home

As tough as it is for many to hear, going out to a restaurant, bar, club, or concert (to name a few) is very expensive. If you have a free night consider the following saving tips for students:

• Host a board game night with friends
• Plan other get-togethers such as potlucks or house parties
• Have a Netflix night or pick up that new book you’ve been meaning to read
• Enjoy a new hobby or get back into the groove of an old one 

Take advantage of free

One of the great things about being a student in Manitoba is the amount of free or cheaper activities there are to do. Whether you’re taking advantage of free nights at museums, exploring The Forks, or visiting one of the provinces many parks (and more!) it’s not hard to find ‘free’ in the area. All it takes is a quick Google search and you are on your way.

School

Rent or sell your textbooks

Renting or selling your textbooks is a great way to make cash and save it too. f you’re taking an elective or course that’s not a core part of your degree or program, consider renting. It’s cheaper and it saves you the hassle of trying to sell it later.

However, if the book you need for your course isn’t available for rent, there are many options to sell it afterwards. Kijiji, Facebook, or your campus’ used bookstore are all viable options.

Student discounts

Obviously, shopping is necessary in life and not everything you do can be free. Darn, right?

But, you should keep in mind that as a student there are many discounts available to you if you have a valid ID. For example, there is the SPC app that offers hundreds of deals to students plus there are tons of deals you can take advantage of, if you’re willing to hunt them out.

Want more saving tips for students?

If you have questions on saving, are ready to open a savings account, or just want to chat, we’re here for you. Find your local branch or get in touch with our friendly Help HQ team. We hope these saving tips for students were beneficial.

Happy saving!