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FEATURED ARTICLES           Thursday, September 09, 2010                                Email to a Friend

Back to School Money Saving Tips

The university and college experience is about expanding your personal horizons and finding out exactly what you are capable of. For example, how many hours in a row can you stay awake? How much Kraft Dinner can you eat before you can eat no more? Unfortunately, the post secondary experience isn’t cheap and if you want to experience it fully, you’ll need to have some disposable income. Here are some tips that will help you save money from the readers of Canada’s online bargain hunting community, RedFlagDeals.com:

Saving Money on Food and Drink(s)

1. Lots of restaurants and travel agencies offer student discounts to students who have either the International Student Identity Card (ISIC) or the Student Price Card (SPC). You can buy either card for less than $20 and many schools actually include the card as a part of your student fees. Sometimes you can save up to 50% off bus, train or plane tickets with the ISIC card.
2. Eating out is expensive, so cook when you can. If you buy groceries when they are on sale at the grocery store (check your local flyers), you can save even more. If you visit grocery stores late at night, you will often find prepared food, produce, and bakery items marked down significantly because they have to make room for the fresh stuff. (Check the expiry dates!)
3. If you have to drink, you can save a lot of money by drinking at home before you go. Just remember to drink responsibly and don’t drink and drive. (Remember to return your empties for cash too.)

Saving Money on Tuition and Fees

1. If your school allows it and you have a rewards credit card, pay your tuition with your credit card. You can get a ton of reward points (AirMiles, etc.) or you can even get money back if you have a cash back credit card (usually around 1%). This only works if you can pay off the credit card right away of course.
2. Opt-out of the optional club and charity fees you don’t support. The Concrete Canoe Club sounds interesting, but they’ll probably be OK without your $1.50. Most schools will let you opt-out of the health and dental plans if you have coverage through your parents or job. You can save several hundred dollars this way.
3. Check for available bursaries and scholarships. Your school likely has a lot of bursaries and scholarships that you don’t know about and might qualify for. If your parents work for a large company, you may be able to get a scholarship through them as well. Your part-time job may also offer bursaries.

Saving Money on Textbooks

1. Borrow textbooks you need from your friends or the library. This might be difficult around exams, so plan ahead.
2. If you need to buy a book, try to find used textbooks through used bookstores, online forums like the Text Book Trading Forum at RedFlagDeals.com, and campus bulletin boards.
3. If you must buy them new, remember to shop around. Your campus bookstore probably doesn’t have the best price.
4. Sell your old textbooks. Again, the campus bookstore might not offer you the best price for your textbooks, so spend a little bit of time trying to sell them privately.

Other Tips

1. Your psych department is probably looking for students to participate in their experiments and they are usually willing to pay you for your time. If you’re in a big city, you can probably also participate in clinical drug trials (check the local paper). Drug trials pay better, but are more likely to be… unpleasant. You will always be told what the experiment involves before actually participating, so you won’t have to do anything you’re uncomfortable with.
2. Getting an iPod for your birthday is great, but getting cash or things that you really need (clothes, food, etc.) is even better.

Hopefully with help from these tips you won’t go broke while going to school. If you have tips of your own or you’re just looking for a great deal, check out RedFlagDeals.com: Canada’s largest bargain hunting community!

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