Skills to help post-secondary students stay afloat

Hands down, the most important financial skill every post-secondary student needs to learn is budgeting.

- LESLEY-ANNE SCORGIE

Second and third on the essential skills list are managing credit and value consciousness.

Make your budget a loud one

A budget is a plan for your money and when you follow one, it helps avoid unnecessary debt. “Loud budgeting” is a new trend where you get to be vocal about what fits your budget, and what doesn’t, without any social stigma. As an example, it’s socially acceptable for students to just say “I’m not spending money on that brand new laptop when I can buy one used, and save the difference for a camping trip next summer” or “Going for dinner doesn’t fit my budget, but coffee does. Want to do that instead?”

Some loud budgeters take it to the next level and post all about their budgeting journey on social media.

To be a loud budgeter you first need to have a budget.

Download any student template from Google that you like, and get building.

For income, this is generally a part-time job, money from parents, and student loans or lines of credit.

For expenses, include your living expenses, cellphone bill, internet, transit pass, books, groceries and other items like social spending.