Personal Finance
Better Finances for a Better You
Topic: "Personal finance topics for college students"
← Curating the web to find the most interesting and helpful
information about your money.
Infographic of the week
Check up on your financial health from the Financial Consumer Agency of Canada
Checking up on your progress in managing and paying down debt is an important part of maintaining your overall financial health.
Managing and reducing your debt will lead to better financial health →Did you know?
BMP and RBC have indicated that the average student debt is over $26,000 and the interest on private loans and credit cards is likely to be higher than on federal student loans.
Student Debt Statistics In Canada →Word of the week
Student Loan
A student loan is a sum of money borrowed to cover the costs of post-secondary education, including college expenses and other related costs. The primary purpose of student loans is to finance living expenses, books and supplies, and tuition while the borrower is pursuing a degree. Loan payments are often deferred during the time the student is in college and for several months after graduation.
View eligibility details of merit-based scholarships for undergraduate, graduate and postdoctoral studies →Budgeting
5 budgeting tips for college students that can help set you up for financial success by Alexandria White
Creating a budget while in college is a great way to track spending and take control of your finances →Budgeting
As you prepare to settle at your home away from home, it’s vital to estimate the costs you’ll incur beyond tuition to avoid any surprises.
First-year college costs to prepare for beyond tuition by Hanneh Bareham →Infographic of the week
Financial Literacy 101: What Every College Student Needs to Know by StudyCorgi
StudiCorgi has put together a list of practical strategies to help college students become more financially savvy and develop a healthy money mindset that lasts well beyond their college years. Their visual guide outlines the benefits of financial literacy and the key principles that will enable young adults to manage their finances effectively.
Benefits of financial literacy for college students →Budgeting
8 Tips To Help You Control Holiday Spending by Reyna Gobel
Use these eight practical tips to ensure you stay on budget for the new year, rather than getting wrapped up in holiday spending →Budgeting
Creating a budget may seem like a daunting task, but it doesn’t have to be. Learn about the tools and techniques that can help simplify budgeting and help you reach your financial goals.
Options for people who don’t like to budget →Serious stuff
Making financial decisions – including around budgeting, taking out loans or investing – can be daunting, and many college students feel ill-equipped to do so.
Financial Literacy: What College Students Need to Know by Sarah Wood →Investing
How to Start Investing in Canada: 9 Steps to Success by Steven Porrello
1. Assess your risk tolerance 2. Choose Your Investing Style 3. Decide How Much You Can Invest 4. Pick the Right Kind of Stock Investments 5. Choose a broker 6. Open the right investment account 7. Diversify Your Stocks 8. Keep a Steady Eye on Your Portfolio 9. Invest Consistently for the Long-Term
You may only have a little money, but consistently investing a little bit every month grows over time →Did you know?
According to the national average of searches, student loans are the most Googled financial topic, with 2,441,000 searches on average across the US.
The most googled financial topics by state →Budgeting
Budgets are the building blocks of financial stability
- Automate bill payments
- Create a “wants list” to curb overspending
- Use cash or a debit card for your problem spending areas
- Sock away funds for emergencies
- Get realistic with sinking funds
- Save on homeowners and auto insurance
- Gulp your daily “budget smoothie”
- Budget with your partner
- Use a free budgeting app like Neontra
Budgeting
5 budgeting tips for college students that can help set you up for financial success by Alexandria White
Creating a budget while in college is a great way to track spending and take control of your finances →Saving
Our consumer culture pressures many of us to live above our means. The good news is that making a personal and household commitment to a more frugal lifestyle can be a fulfilling, healthy choice and can save you a lot of money.
65 Tips to Save Money Through Self-Reliance By Kale Roberts →Saving
The money-saving tips and tricks I’ve learned while living single learned while living single By Sadaf Ahsan
Image by Freepik - Here’s how a young adult can beat the high cost of living on their own →Budgeting
5 common credit mistakes you should avoid in your 20s by Megan DeMatteo 1) Spending without a plan 2) Using debit over credit 3) Waiting to establish credit 4) Not understanding key terms 5) Getting store cards on a whim
It can be hard to get your finances together in your 20s, learn how avoid common credit mistakes →Infographic of the week
Ranked: Median Student Debt for a U.S. College Degree
According to the Federal Reserve, student loans added up to $1.6 trillion in Q2 2023, making them the third largest category of U.S. household debt behind auto loans ($1.8 trillion) and mortgages ($12 trillion).
The Visual Capitalist ranks student debt by U.S. college degrees →Did you know?
At the national level, full-time graduate students paid, on average, $7,437 for the 2022/2023 academic year, whereas undergraduate students paid $6,834. This represents a 1.7% and 2.6% increase, respectively, from the previous year.
Tuition fees increase for Canadian undergraduate and graduate students →Budgeting
Attending university is the first time that many Canadian students get to practice real-life budgeting.
Best budgeting tips for university students in Canada →Word of the week
Exchange-Traded Fund (ETF)
An ETF is essentially a basket of investments such as stocks or bonds. In this sense they’re similar to mutual funds, but unlike mutual funds, shares of ETFs can be traded throughout the day on an exchange, much like an individual stock.
Learn about the benefits of ETFs →Word of the week
Net Worth
Your net worth is simply the difference between your assets (what you own) and liabilities (what you owe).
See your net worth and take the pulse of your overall financial health →Saving
An epic standard in overpromising and underdelivering was reached when the big banks named their savings accounts.
Check your big bank savings account - you could be making ‘0.000 percent’ interest →Budgeting
While you would be forgiven for being nose-deep in your books, it’s time to take a minute to reflect on how you’re managing your money. Do you have a budget? Or are you spending on the go?
21 money-saving tips and tricks for students →Word of the week
GIC (Guaranteed Investment Certificate)
"Guaranteed Investment Certificates (GICs) and term deposits are secured investments. This means that you get back the amount you invest at the end of your term. The key difference between a GIC and a term deposit is the length of the term. Term deposits generally have shorter terms than GICs."
Learn about the key details before buying a GIC →← Curating the web to find the most interesting and helpful information about your money.