Learning to save starts with knowing your financial reality and priorities.

Finding money when you don’t have any

If you don’t have money left over, then you are in good company... most Canadians don’t. How can you save for post-secondary education when you don’t have extra cash lying around?  Start by analysing your spending habits. Is there anything in your budget you can eliminate? Are there any costs you can reduce? 

Did you know that if you could reduce your spending by just $1 a day and put it into savings, you could put aside almost $3,000 in five years with the help of the Canada Education Savings Grant (CESG)?   Did you also know that this same $1 a day, with CESG contributions, would equal $17,000 or more over the course of 18 years?  So really challenge yourself. Maybe you’ll find more than a dollar.

Ways to find $1

• Cut out buying a morning coffee.

• Clip coupons and review flyers to reduce the cost of your grocery purchases.

• Turn down your heat by 2°C to save on electricity.

• Wash your clothes in cold water to reduce your energy bill.

• Bring your lunch to work.

• Check the sales rack first when buying clothes, or look at fashionable second-hand shops.

• Use the library rather than buying books and magazines.

• Take advantage of free entertainment and recreational opportunities offered in your community.

There are so many things you can do to find $1 a day to put into post-secondary education savings.