Frequently Asked QuestionsGood-bye Kraft Dinner and Bologna! Some Tips to help stretch those dollars!!!
Grocery Shopping
- plan menus
- buy smaller amounts or in bulk
- don't shop when you are hungry
- shop once a week or every two weeks
- substitute beans and grains for meat
- check weekly flyers for specials
Other Shopping
- buy used books
- shop consignment stores
- ask yourself "do I really need this?"
- shop sales
Tip #1:
If you must eat out, clip coupons. Take advantage of restaurants that offer "all you can eat" buffets, "two for one" specials, and don't be ashamed to ask for a doggy bag for your leftovers! Check the Student Saver Card available at the Student Union Building.
Jobs for Extra Income
- House cleaning
- Babysitting
- Newspaper delivery
- Restaurant work
- Selling crafts
- Telephone sales
- Tutoring
- Yard maintenance
Tip #2:
Go to the Campus Career Centre located in Building 310, Room 109. You may be eligible for a Work Study position on campus or you can check the job postings on file for off-campus work.
Other Savings/Earning Ideas
- Arrange car pools
- Cheap night at the movies or video store
- Trade clothes with friends
- Trade off babysitting services
- Have a garage sale
- Walk or cycle more for transportation
- Recycling depots for bottle deposits
- Community kitchens for food prep
- Instead of gifts, give your time
- Use the library
- Community gardens to grow produce
Tip #3:
Keep an eye on your bank account. Make sure that your bank is providing you with the services that you need. Many financial institutions have special plans designed for students.
Tip #4:
Apply for as many scholarships and bursaries as you can. Besides Vancouver Island University awards, check out community organizations, union affiliations, or your parents' places of employment for possible assistance.
How Much Will My Education Cost and Where Will the Money Come From?
Step 1: How much will it cost?
Returning to school involves both direct and indirect costs. Direct costs are those incurred specifically to attend school, while indirect costs are the living expenses that continue whether you are working or going to school. Let's calculate you costs.
| A) Direct Costs | |
|---|---|
| Application Fees | _____ |
| Tuition Fees | _____ |
| Lab Fees | _____ |
| Student Fees | _____ |
| Campus Parking | _____ |
| Field Trips/Practicum | _____ |
| Examination Fees | _____ |
| Books/Texts | _____ |
| School Supplies | _____ |
| SUB-TOTAL | $______ |
| B) Indirect Costs | ||
|---|---|---|
| (Multiply the amount by the # of months of the program, * = one time only) | ||
| Rent/Mortgage | ______ x ___= | _____ |
| Insurance | ______ x ___= | _____ |
| Utilities | ______ x ___= | _____ |
| *Hook-up Charges | ______ x _1_= | _____ |
| Food | ______ x ___= | _____ |
| Transportation | ______ x ___= | _____ |
| Clothing | ______ x ___= | _____ |
| Recreation | ______ x ___= | _____ |
| Dental/ Medical | ______ x ___= | _____ |
| SUB-TOTAL | $_____ | |
TOTAL OF ALL EXPENSES (Column A + B): $__________
Step 2: Where will the money come from?
| C) Personal Sources | |
|---|---|
| Savings | _____ |
| Family | _____ |
| Part-time work | _____ |
| Other Income | _____ |
| D) Other Sources | |
|---|---|
| Scholarships | _____ |
| Bursaries | _____ |
| Loans | _____ |
| Grants | _____ |
TOTAL INCOME FROM ALL SOURCES (Column C + D): $_________
Step 3: Deficit or Surplus?
Now subtract your expenses from you income to determine if you have a deficit or surplus $_________
Step 4: Do you have a shortfall?
If you do, ask yourself: Is my budget realistic? How can I bring my costs down? How can I increase my income? Are there changes needed to improve my spending habits?
Do not spend what you do not have!