Control yourself!

Much of the advice that I have written in here so far can be condensed down into one extremely reasonable piece of advice: control yourself!

If you find yourself struggling to pay the bills and cant think of how this happened, you need to first be able to take stock of what you are spending.
Do you go out for coffee all the time? Order a lot of take out? Can't help but say yes to that drink/pair of shoes/jeans/diner?
Now is the time to ask yourself if you really need it, and if you do need it, is it really worth it?

I dont imagine that the majority of the students in Ontario are in the same position that I am in, but I do know that I am not the only one. So how do you keep from falling into problems? My advice will always be the same.
Be careful. Be sensible. Resist the urge to buy $150 leather boots,even if they are extremely cute and you love them to death.

There are a few things that no undergrad really ever needs, which also tend to be a huge drain on finances. Want to keep your cash in your pocket a little longer? Avoid the following:

1. Pets. If you cannot afford to feed yourself there is a good chance that you are going to have a hard time finding a budget for kibble.
   
2. Cars. Unless you really need one, take advantage of local public transit. It should get you from A-B (and on weekends to point C) without too much hassle. Buy a car when you can afford gas, insurance, annual plate renewal and tune ups.
   
3. Exotic Vacations. Not everyone can afford to go to Cancun on spring break. Consider a trip to your parents house instead. If you have been doing all your homework then the free meals and laundry should be enough to make you feel like you are in a resort anyway.
   
4. Shopping Sprees. this relates back to what I had been saying about credit cards in an earlier post. Just because you think that you can afford the new Jimmy Choo's at H&M doesn't mean that you actually can. I know. I feel your pain.
   
5. Bar Nights. Lmfao may sing about the glory of shots but if you plan on drinking like a rock star on a regular basis you are going to have to pay like a rock star. And I haven't seen you do any sold out stadium concerts lately.
6. Smoking Pot. you will spend too much on weed to begin with. An lets be honest, who knows what you are going to do when you are high. Ordering porn on your roommates cable account may seem hilarious at the time (and just generally. Good prank idea.) But you are still going to have to pay after.
   

I could go on, but only you know what you have the biggest problem spending money on. Everyone has a weakness and it can easy to justify spending your money when you have your friends spending just as much. Spend smart or don't spend at all.

$10/week - the wait continues

I have learned to live off of $10 a week.

Well, maybe not $10 exactly, but, once all of my expenses have been tallied for the month my flexible personal funds tend to dwindle down to less then $50, or $10 per week.

So, what does this mean? Well, first of all, it means I am going to be really happy when my OSAP finally gets here. Lately I have just been telling myself that it wont be long until I can go Christmas shopping, because that is the one extra expense I really still want to be able to hold on to this year.

I also want to make sure that I am still able to have fun with my friends. The lovely friends aren't all quite as destitute as I am but they struggle with finances all the same and we have all become extremely gifted at finding fun things to do that fit the budget as well as making previously expensive nights out far more palatable.
This has included:

• Splurging on a ticket to winter formal but entirely recycling outfits to make a new look that cost me nothing. A dress good enough to wear once is good enough to wear twice.
  
• watching movies we own instead of going out to the theater. We are a little behind on whats new but have become experts on star wars and back to the future
  
• curbing the drinking. We barely go out to the bar anymore. When we do drink it is at home or a house party where it is $20 for the evening, not $5 a drink plus tip and the cost of food on the stumble home
  
• doing my homework. It is amazing I know, but for some strange reason I feel extremely accomplished when I get good marks from the institution that is eating my paychecks.
  

It can be extremely fun to be frugal and I am not going to let some money problems stop me from enjoying myself. Its not easy, but good things come to those who wait. It shouldn't be long now until my loan comes in.

If you are waiting for your ship to come in too, hold on, you are doing just fine. Now, I am off to go blow bubbles off my apartment balcony.

Whats a textbook grant?

Why in the world do text books cost so much? I maintain a theory that is the the university's way of keeping us all on our toes as we trundle through the beginning of the semester. I mean, once tuition is taken care of you tend to lull yourself into a false sense of financial security. But then, lo and behold, you still have to find an extra $400 to spend on a couple texts books and some course packs (or as I fondly refer to them, the worst quality yet most expensive photocopies in history).

But there is hope for surviving this seminal pain in the ass. A couple of years ago the government finally began giving out the TTG, the Textbook and Technology Grant, which helps to give students some extra dough for those pesky books and computers.

One of the main problems with the TTG program is that students seem to be wholly unaware of its existence. And of course, the grant is only values at $150 which may not seem like a lot to help you get by your $800+ worth of supporting course material. But, would you rather someone gave you $150 for books or, lets say...nothing? It's not a lot but the text book grant is something to help you get by and for many students $150 is the difference between being able to eat for a month and a half and being able to study for a course for an entire semester.

To be eligible for this grant you must first qualify for an intergrated Canada-Ontario student loan, so OSAP students should have no problem. For anyone reading out there who is unsure of their ability to qualify, I say try anyway. You never know until you apply.

The main reason that books are so expensive is that the rights to academic material is extremely expensive. University presses are also extremely expensive to run. And lets face it, your profs clearly just love watching you squirm and cry a little bit when you realize just how much you have to shell out for their course. (Kidding!...I hope)

So, if you haven't already applied for the TTG this year, I strongly encourage you to visit their site to learn more about what opportunities for course material funding are available to you. Happy hunting!

Know Your Limit, Play Within It

Recently there have been a number of TV commercials that address gambling as an addiction. Until their presence became strangely prominent in my TV viewing, I had never really given much thought to the dangers of gambling.

Gambling can be extremely seductive, but like all other vices, it should only be undertaken in moderation. The OLG Charity Casino in Brantford is practically located on campus. Its close proximity to the student body would seem to insinuate that students are headed for the slots to unwind and possibly win their tuition, but this does not seem to be the case.

Rather, trips to the local casino seem to be reserved mostly for the exceptional buffet table then the craps. The casino floor is largely filled by elder game enthusiasts, and can serve as an excellent cautionary tale for anyone considering going to get that next bucket of nickles.

The new gambling addicts spend their time primarily online. Like all other burgeoning tech industries, online poker has quickly become a multi-million dollar per year industry, boasting players from all corners of the world. It has also borne the brunt of the blame for the ever increasing number of compulsive gamblers in Canada.

Being a student can be an extremely difficult balancing act financially. For some, gambling may seem like a viable option for getting ahead. The following are a list of symptoms for compulsive gamblers (gambling addicts):

• feeling the need to be secretive about your gambling
  
• having trouble controlling your gambling
  
• gambling even though you don't have any money
  
• family and friends become worried
  

Of course, problem gambling is not just a threat to students. Anyone can be sucked in by the rush of winning or the hope of winning it all back. But, at this financially fragile time in your life, a gambling problem will only exasperate any financial strain you might be experiencing.

If you or someone you know is exhibiting signs of compulsive gambling you should contact the schools therapist. Offered by Student Services and located in the Student Center, the school therapist can help you to organize and address your problems before you run out of solutions. If you would like to know more about compulsive gambling, visit http://www.helpguide.org/mental/gambling_addiction.htm or consult a physician. As the OLG says, know your limit, play within it.

Beware the Credit Bender

Awesome! Wicked! You just got your first credit card! You can finally order concert tickets without having to bug your mom! You can treat yourself to that new outfit you’ve been eying! YOU CAN RENT A HOTEL ROOM!!!

But, before you get too much more excited, you may want to hold your horses. Like Uncle Ben told Peter Parker, with great power comes great responsibility.

Most students don’t stop to consider the importance of maintaining their credit, and many more are unaware of the lasting effects that a bad credit rating can have on their adult lives. Far after that outfit is out of style and the memories of that concert have faded, you just may be in for some serious problems.

Think of your finances as a really good night out on the town. Your credit Is alcohol. Your poor credit rating is that hang over that makes you hate everything about your life the next morning. And sadly, unlike a hangover, orange juice and a nap will only soothe you so much, that credit rating isn’t going away.

Your credit rating will help the bank determine if you are a safe bet for loans. If your credit was bad in university or college you are going to have a lot of difficulty getting a car loan or a mortgage. Because information about your credit tends to hang on for about 7 years, your financial missteps now could very well spell disaster later when you are making important life steps.

So, how do you avoid the bad credit hangover? To begin with, don’t spend beyond your means. Just because you have been given a credit card with a $1000 limit does not mean that you are going to be able to pay it all back. Spend only what you can afford and make payments on time. You won’t just avoid the morning after regret; you will be able to establish yourself as a responsible borrower.

It is also a pretty good idea to pay back more then just the minimum payment whenever possible. Not only will you pay down the amount faster (banks love a solid brownnoser) but you will also save yourself some serious interest.

Don’t be afraid to treat yourself when you get that first taste of credit, but make sure you are shopping with restraint. A credit card is a tool in establishing yourself as a financially independent adult, try to save the shopping sprees for those special occasions.

Christmas in November - Planning to Shop on a Budget

Everyone I know hates the holidays. There are a lot of reasons for it, I know a lot of children of divorce... and a lot of cynical scrooges as well. I myself have always loved the Christmas season. Its a great time of the year to spend time with family and friends, and I cant help but love the food and music that go along with it.
That being said, Christmas can be a huge chore for students who cannot afford to deck the halls or come a wassailing into the mall, and I am no stranger to how that feels. So, how do I avoid the holiday blues when the rent is due?
Well, to begin with, there is a reason this post is being made in early/mid November. You have to plan for the holidays early and be as realistic as possible. Nothing gives a well thought out Christmas card more value then not being able to afford to buy a gift. If you mean something to me, this is the perfect time of year to tell you. If you think it is cheap, then you certainly wont be receiving a card from me next year.
Of course, Christmas is about giving and receiving as much as I would like to avoid it, but this too does not have to mean a financial disaster. Participating in a secret Santa gift exchange (something I have done with all of my friends since my first year of university) is a great way to save money and have a lot of fun.
By holding a secret Santa exchange you only have to buy a gift for one person, and the group will normally agree to a price cap around $20. This way, everyone still receives something and no one breaks the bank.
Pot luck dinners and quick holiday drinks at peoples homes (as opposed to those seductively cozy looking bars) are also excellent ways to save money during the holidays.
You don't have to be a hero this holiday season, just use your head and take time to appreciate the people around you. You wont just save some cash, you might just find the reason for the season.

Interview - Dave Prang, director of student services

Recently I had the opportunity to get in touch with Dave Prang, the director of student services on campus. I wanted to ask Prang about what services are available to students, such as myself, who are struggling to get by.
Student services are supposed to be there to help enrich the life of students at Laurier. Prang listed several different services that are available to students in need of a hand, including light financial counseling through counseling services, the WLUSU student food bank and the scholarship, OSAP and Bursary opportunities that are available through the Student Awards Office.
So, really, the services that are available to studnets to offer them support on campus are limited. That being said, these are still vital services which can and have helped me out in my hour of need.
The student food bank particulairily seems to function to help those who are in the middle of a real pinch and just need some food to get by.
Of course, students are not the only ones who are struggling to get by these days. The current recession has affected student services budget, something which Prang made note of; "WLU SS went through a budget rationalization exercise, where we carefully examined each of our budget lines, and made some cuts. Overall, we have noticed an increase in Counselling Services demand, Writing & Study Skills Resource Centre, Accessible Learning and the Student Conduct Board. We have moved to a largely part - time staff in Counselling, to be more flexible and allow for longer hours of service Wed-Fri."
Overall this would seem to suggest that while there are services out there for students, they now have to be more proactive if they wish to access them.
Prang also spoke of the importance of volunteerism on campus, stressing that it is a great way to get involved and gain experience that future employers will value. However, Prang also encouraged students living on a budget to be realistic. "Volunteerism can be extremely rewarding and valuable to career prospects, but if a job is what is required to help pay the bills, it can be difficult to balance those commitments. One thing to always keep in mind, is that no one is perfect! Try your best, but also allow yourself to not have to be "perfect" to everyone!"

If you are interested in getting in touch with student services you can find them on the second floor of the Student Center on Darling Street.