Pinching Pennies: Saving Money in Postsecondary School
By Kyle Quilatan
Published on: September 23rd, 2024
Funding a postsecondary education can quickly get expensive. Sometimes, it is hard to focus on schoolwork while also thinking about spending habits. However, there are several ways to earn money and cut back on spending. Keep reading to learn about some ways to save money while studying.
EARNING
Working part-time
Obtaining a part-time job seems to be the most obvious way to earn money while in school. However, it can be challenging at times to know exactly where to find work. Luckily, most postsecondary schools offer several on-campus jobs that are exclusively for their students. These can include positions at cafes and restaurants, and bookstores and libraries. Some schools, like the University of Waterloo, even have web pages dedicated to helping students find work on campus.
Many schools also look to fill academic-based positions such as teaching assistants (TAs) or research assistants (RAs). For example, McMaster University’s Degroote School of Business offers teaching assistant positions to its students. These opportunities help with earning money and also with building connections and networks within the school.
Partaking in studies
Many postsecondary schools offer volunteer opportunities for students to participate in various studies. The scope of these studies can vary, but many are conducted by postgraduate students at the school. Depending on the nature of the study, students may receive academic credit or financial compensation for their participation.
For example, the University of British Columbia hosts several research studies on campus, encompassing fields like psychology, marketing and kinesiology. Students are free to sign up as participants whenever there are available slots. While the idea of participating in a study might sound intimidating to some, the research being conducted usually is not difficult to complete and is always safe for those participating. A strict set of standards are required for these studies to be approved, so rest assured that nothing dangerous will take place.
CUTTING BACK
Buying second-hand
Not everything needs to be brand new. Sometimes, second-hand products are a better option when they are still in good condition. While this is true for things like clothes and appliances, the same also applies to school supplies like textbooks. Many post-secondary institutions have used textbook options in their bookstores at a reduced price. There is also the option to rent textbooks, though they can sometimes be more expensive than used ones.
There are also ways to get used books from other students. Groups like the University of Toronto Book Exchange on Facebook are places where students look for used textbooks. Here, students come up with their own prices for their books. The books are often much cheaper than those bought directly from the bookstore.
Several libraries also carry copies of some textbooks. This way, students have to access these books for free and save money in the process. However, keep in mind that libraries can sometimes have limited options. It can sometimes be difficult to find a library that has the book you need on-hand.
Cooking at home
Instead of eating out all the time, cooking at home can be a great way to save some money. Buying ingredients in bulk and then portioning them across various meals, or even just buying the ingredients for one meal, can often help to reduce spending in the long run.
Cooking for yourself can also be a generally useful skill to learn and can be made into a fun bonding activity with friends or roommates.
While postsecondary school will always be expensive, there are small ways to help you earn and/or save money here and there. Every little bit counts, so make sure you are conscious of where your money is going.