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Credit cards aren’t like free money

GIF of Johnny asking son how he's going to pay off his credit card for expensive package and son replying "I don't think you understand, I already have it"

Credit cards can be a useful financial tool, but they can also pile up debt quickly. And since most cards have a 20% interest rate, they can take a long time to pay off. Think of credit cards like a really small loan; you haven’t paid for an item until you pay off your credit card.

Start building an emergency fund

GIF of David holding cheque around dinner table saying "Shouldn't we be saving it"

Saving money as a student can be tricky, but it’s important to have some money set aside for emergencies. Things like a broken laptop or additional textbooks can create additional stress, and an emergency fund helps to relieve that by not having to go into as much debt for necessary and major purchases.

Wait 24 hours before making a major purchase

GIF of Johnny aksing his daughter Alexis "what am I going to do with $400 worth of raw milk"

If you’re planning on making a big purchase, it might be a good idea to wait 24 hours to see if you still really need it. That way you have time to think about if you really want it and you’re less likely to buy something impulsively. If you still want it, then great, you can always go back and get it! If not, then you just saved yourself some money.

It’s ok to ask for help

Gif of David and mother cooking. Mother says the next step is to "fold in the cheese" and David asks "what does fold in the cheese mean"

Money can be complicated, and it’s ok to ask for help! That could be asking a family member or friend, reading financial literacy books, or listening to podcasts. We here at the Awards and Financial Aid office are also here for you! We can help you with questions about government financial aid, scholarships and bursaries, and many other funding options while you’re in school, so don’t hesitate to contact us if you’re looking for answers.