Managing Your Money for School
You're planning on becoming a Poor Student, so you better start by lowering your expectations about what life will be like while you study. You'll eat a lot of low-cost food. You'll wear your clothes until they are threadbare. You'll live in crowded, if not bug-infested, quarters. Hey, that's the life of the poor student. And maybe it'll help you focus on what you don't want for the rest of your life.
If you're going to school to par-taay, to drink your face off, to take six years to get a three-year degree, scram now. You're wasting your time on my site because you won't find anything I say interesting.
School is serious business. It's very expensive. It takes a ton of effort (or you're not doing it right), and it's not forever. Short-term pain for long-term gain, that's school. If you do it right, you'll graduate knowing what you need to make a life for yourself and your family. You'll have learned to be frugal. You'll have learned to prioritize. And you'll be strong, because you had some rough spots, but you got through them.
That's not to say that there aren't lots of people who graduate from school without the good sense God gave a goose. I've met them. People still living off their parents. People who prioritize the car they drive over the food they put on the table for their children. People who are still KIDS. Through years of college, trade-school, university, they succeeded in NOT GROWING UP. Poor things. Poor things the people who will have to live with them.
But that's not you. You've decided to do this whole post-secondary thing right. You've made plans for a career. You've applied for scholarships. You've been saving for tuition. Now it's time to learn how to manage your money.
Since you're potentially going to be dealing with lump-sum amounts (summer-work savings, a scholarship, RESP money, a bursary, or a gift from your parents) and you'll have lump-sum expenses (tuition, books/supplies/first & last months rent), you need to figure out those first, so you know how much you have left to plug into your Student Cashflow Worksheet, which will be your monthly budget document.