1. Explore options such as subsidized daycare facilities,
social housing, and use of public transportation.
Getting a roommate can cut down rental and utility costs.
2. Make sure that all of your monthly expenses are real needs.
For example, choosing to not have Cable can save you money.
Some people are paying both regular phone and cell phone bills
ask yourself if both are needed.
3. Be aware and watch the use of your utilities. Turning off
lights when you leave a room and turning down your heat
at night can save money.
4. Pay your essential bills such as rent, utilities, and childcare
before anything else! If you do not pay these bills interest will
be charged and they can get out of control very quickly.
5. Be a smart shopper! Clipping coupons and opting for no-name
brands can bring down your grocery bills. Also, find out where
there are second-hand clothing stores or thrift shops near you.
6. Find entertainment that costs less (for example rent movies
instead of going to the theatre, do outdoor activities that are
free, and try not to eat out if you can cook at home).
7. Cut out your non-essential costs (for example daily purchased
coffees, cigarettes, lottery tickets, etc). Remember we all
have some bad budgeting habits!
8. Do not try to assist others by lending money if your budget is
already tight.
9. Plan ahead for things like summer childcare costs, damage
deposits, and utility hook-up fees.
10. Use cash whenever possible and your own banking institution.
Bank machines usually charge additional fees for withdrawing
funds.
11. *Finally if you get into financial trouble ASK FOR HELP! Don't
let your financial problems slide or get out of control. Ask
for help as soon as possible to avoid getting into something
you cannot get out of. Bow Valley College Counselors are
available for daily appointments and can assist with financial
difficulties. You may be able to appeal your Student Funding
or access emergency funds if you are faced with a serious
emergency.
