Throughout my years of bootstrapping through undergrad and learning and picking up new tricks and habits along the way to save money in order to have a fulfilling student life without breaking the bank.

Here’s a collection of all the tips and tricks I’ve gained through my time in undergrad:

TRICKS/HACKS

Coffee – Getting More for less!

This is a trick that I discovered a little over a year ago, and is more of a perception tactic. I didn’t quite notice the consistency of getting more for less until I bought a quality metal coffee mug to use at my local Tim Hortons or Starbucks.

What you do here is bring your coffee mug which would automatically get you a 10 cent discount, you then ask for a size smaller than what you’d normally order, and since your mug will be bigger than that amount, the barista will usually fill it to the top (about 8 out of 10 times) ensuring that you get less for more!  (I usually ask for a medium at Tim Hortons or a Tall size at Starbucks).

Eight out of ten times, baristas don’t have the time to be anal about giving you exactly a medium or tall size and usually fill your coffee mug to the rim. Also they’re usually pressed for time to serve other customers and don’t get paid enough to really care.

Buy your own timed coffee brewer - Alternatively, if you buy a time coffee brewer, you can cut your coffee costs to a mere fraction compared to buying outside at your local Starbucks, Tim Hortons or (Insert your favourite coffee joint here). You can program the brewer to start brewing your favourite blend of coffee and *voila*, you wake up to the nice smell of fresh morning coffee at a fraction of your costs.

Smoking – getting FREE cigarettes 9 out of 10 times and/or help you quit smoking at the same time!

While I don’t smoke anymore and I don’t judge people who choose to smoke, this is a trick that I discovered during my days of smoking in undergrad where I had made numerous attempts to quit smoking, and decided that I simply wouldn’t buy packs of cigarettes anymore.

I did some research when I stumbled upon this phenomenon. This trick actually has its roots stemmed in Social Psychology. Keep in mind, this trick is not for the shy or meek as you have to actively approach people and ask to buy a cigarette for a dollar. If you’re particularly shy, you might come off as awkward, but it’s pretty much expected that you’re awkward because people who are in the awkward position of running out of smokes do this as well.

Too many times I’ve seen people (usually guys) say, “Hey man, can I bum a smoke off you?” That is NOT the route you want to go and you usually get rejected anyway, which sucks when you really want to feed that craving.

Smoking culture is one that is social and when you offer something of value such as money, over and above the price of what the going rate for what a single cigarette usually costs to (about 50 cents), people are almost always pretty cool and insist that they don’t want your money as they’ve had times where they craved for a cigarette and went the route you did to actively approach to feed that craving as well.

An example script would be:

Me: “Hey, I hate to bother you, but I forgot my smokes earlier and I’m in a rush. I was wondering if I could buy a smoke off of you for a dollar?”

Person: “Hey man, don’t worry. It’s all good. Keep your money. I’ve done the same before and it just sucks”

Me: (this line is key) “Really? I hate being a moocher, I insist though…”

Person: “Naw, it’s cool, man”

Me: “Thanks, I appreciate it…”

Then I usually go into small talk about anything situational and shoot the shit. If they’re a closed off person, I just say thanks give the person a nod of acknowledgement, light the smoke and walk away to give them their space.

It takes a bit of gauging and calibration, but usually 9 out of 10 times, people will want to give you cigarettes when you offer value right from the beginning.

TOOLS

Some of the tools that I use to keep track of my finances is a handy PocketMod weekly that is free and fits in your pocket without being noticeable. I modify the last two pages of my PocketMod to keep track of what I buy.

Microsoft Money – although it isn’t free, this is a great and simple tool to use that is intuitive and gives you clarity on what exactly what your financial situation is if you update it religiously.

I made the daily habit of keeping track of writing my expenses in my PocketMod and at the end of the day, I’d input it into MS Money.

If your financial situation isn’t that complicated, it’s a breeze to set up to put you on your way towards financial mastery.

Mint.com – Although Mint.com is only available in the US for the moment, it is a free online personal money management application that is made simple and easy to use. You can integrate your entire bank, credit card and investment accounts with its intuitive and simple to use interface to keep track of your finances.

Buy used! Or at least attempt a “group buy” – be it textbooks, furniture or electronics, you can save a bundle if you do your research. You can resort to Craigslist, RedFlagDeals.com, eBay or even Facebook to see if there are any used textbooks being sold for the course you’re taking or want to take.

GENERAL TIPS

Buying in bulk – this is something that you can easily do, especially if you know someone who has a Costco membership, you can all make it a weekly or bi-weekly adventure with some frugal friends to load up on bulk food and supplies.

Water bottles – having a water bottle handy (having a Nalgene or any aluminum based canteen will do fine) on you at all times can save you time when you’re thirsty and save you money from having to go to buy a drink.

Buying generic brands – this is a no-brainer. Do you prefer buying “Kleenex” brand tissue paper or a no name house brand? Generic brands can offer equal if not better quality compared to brand-name products. You can save money in the long run by buying generic house brands.

STUDENT LIFE

The Pre-drink – let’s face it, getting wasted or “tipsy” is a fact of life for any college or university student before heading out to bars or clubs. It would be wise to buy a few bottles of your favourite booze for mixers and a two-four to drive down your costs of letting loose during the weekend (or any other day for that matter)

Student centre discounts – On campus, your student union or association can influence local stores and vendors in the area to push for discounted prices for your own benefit. You can usually count on heavily discounted movie tickets, comedy club admissions, student rates for cell phones, coupons, freebies etc.  This is your central hub to nabbing great deals on campus.

Joining school clubs, associations or societies – this is probably the easiest way to meet and connect with people who are like-minded, have common interests, and want to expand themselves outside of their immediate social circle. There are lots of free events that are organized, and can be a launching pad for organizing your own events as well.

Buying refills for toner/ink cartridges – you can save a good deal over the long run if you were to buy refills of toners or ink cartridges. They’re usually priced 30-40% cheaper compared to brand new ones.

Additionally, you should use lined paper for rough drafts, and put on your printer on economy mode to save on paper and ink, reserving premium blank paper and high quality printer settings for final drafts.

Washing full loads – as simple as it is sounds, a lot of students don’t adhere to this habit. By doing this, you save on consumption through reduced water, and energy use, and of course our most important resource of all – time! Although the financial savings are not immediate, in the long run, it can save you hundreds of dollars.

Buy disposable razors - If you’re not too concerned about using disposable products and you go through razors like no one’s business, this might help you save a good chunk of change that can help you nab a 2-4 by the end of the school year

The markup that the people over at Gilette or Schick put on their “MachFusion” and any other competing brand with whatever ridiculous name they decide on slapping on to their razors is ridiculous.  Buy their disposable counterpart instead.

TRANSPORTATION

Buy a monthly public transit pass (Metropass) – if you’re commute a lot, this will save you a bundle of money and save you time if you’re constantly on the go.

Carpooling – if you have a bunch of friends or colleagues who live in the same area as you, this can drive down the time and costs of commuting, especially for the driver since gas prices are ridiculously expensive nowadays. The only challenge of pulling this off would be the coordination of schedules.

Zip Car & AutoShare – if you need to move anything or travel longer distances you should check out Car Sharing programs like Zip Car or AutoShare. You must have an impeccable driving record or close to it to take advantage of it, but the cost savings of heavily outweigh the cost of owning a car, as you don’t have to pay for gas or insurance – only a minimal fee to use it at an hourly or daily rate.

FOOD

This expense probably ranks in the top 3 of all your expenses if you’re a student. Here are a few things to keep in mind to drive this cost lower:

Free meals! – you can usually score a few free meals, snacks or drinks if you’re on campus enough to notice the posters for events plastered on bulletin boards that usually jump out at you with such attention grabbing headlines such as “FREE FOOD” or anything along those lines. Even though the organizers know the main draw is free food, have at least the courtesy to hear what they have to say while you’re having a free meal on them.

Cooking for yourself – cooking more than you need – While this is a no brainer, it isn’t until you’re fully aware of all the nuances of your financial situation and you start recording your income and expenses, you’ll quickly realize that this is probably one of the biggest (if not the biggest) expenditures throughout your school year.  Eating out and buying snacks can quickly add up, and before you know it, you’re in a cash crunch for the month.

Investing in some great (and simple to follow) cookbooks would give you the solid foundation in cooking quick, healthy and quality meals at a fraction of the cost of constantly buying take out and eating out.

There are some great cookbooks out there. The ones that have influenced me most heavily are Giada DiiLaurentis “Everyday Italian”, Rachel Ray’s “30 Minute Meals”, Jamie Oliver’s “Cook with Jamie”, and “Student’s Guide to Vegetarian Cooking”.

FASHION/CLOTHING

Clothing – Winners/Threadless/RedFlagDeals/Craigslist/eBay – You can peruse any of these resources in order to find the best deals on clothes. Be it used or new, you can always get away with things that are “vintage” J

Here’s a tip for guys – if you have no idea of how to put together an outfit, always get a girl who is into fashion and has a keen sense of style in order to help you pick out your clothes. It will pay off in the long run, especially if you want to hook up with the cute girl in one of your classes or anywhere else, really.

FINANCES

Being on top of your personal finances should be a daily habit. Current studies show that 40% of Canadian students after having finished their post-secondary education emerge with student debt waiting for them.

For most of us, lessening the severity or being free of debt is a choice that we can make. Here are a few insights I’ve accumulated over the years with respect to handling my finances.

Compulsive spending – I’ve heard of this trick recently where if you’re prone to making an impulse purchase, you should put your debit/credit cards in a freezer proof bag, put it in a plastic container filled with water and put it in the freezer. If you really wanted to make the purchase, you’d have to thaw out your debit or credit cards, by then, your impulsive nature would most likely subside and you’ll realize how silly the lengths you’re going to in order to buy whatever it is you wanted.

Cash – Use only cash and write down a flexible budget that is within your means. I make it a point to be prepared to spend only the money I have in cold hard cash.

Debit/Credit cards – you can easily break the bank and overspend when you have ready access to debit and credit cards.  In my situation, I prefer to keep the plastic at home and take out only what I’m prepared to spend and leave it in my wallet on a weekly basis.

FREE MONEY!  Grants, Scholarships, etc. – There’s millions of millions of dollars to be had by students who aren’t receiving academic scholarships. Pay attention to your school’s emails and bulletins because they’re not widely advertised.

Once you find out the requirements for the grants and scholarships that are offered to you at your school, be sure to do your research and follow the instructions of how to apply precisely.

Have some close friends or colleagues proof-read your application so that there aren’t any glaring grammatical mistakes and to see if you can get any critical feedback in improving it.

Student Bank Accounts – these plans are built with the student in mind with no fees for your daily banking needs. Look for them as they’re prominently advertised and offer high-interest (3-4%) savings rates. For Canadians, PC Financial, HSBC, ING Direct and ICICI are all great choices.

HEALTH

Go to your school gym! – leading a healthy lifestyle is probably one of the most neglected areas in life for a student. It isn’t impossible if you make it one of your priorities.

When it comes to your gym, you already pay for it or its offered to you at a deeply discounted price compared to traditional fitness centers or gyms. Use it to kill time between classes or blow off steam. Benefits are having more energy to put into your studies in addition to looking and feeling great overall.

Take advantage of your school’s health plan – it’s already included and lumped in with your tuition fees. By having a health plan, depending on your coverage you’re entitled to free massages, free or heavily discounted prescribed shoes or prescription eyewear.

Quit smoking or drinking! – while this is the complete opposite of what I talked about in the “Vices” section, when you’re ready to have fun without the aid of substances and choose to end your reliance on these unhealthy vices, you’re literally looking at saving thousands of dollars throughout your time in school. Your lungs and liver will thank you! If you’re serious about

You can put it this way – that money could be put towards student loans, a car, your own place, or a sweet backpacking trip through Europe!

ENTERTAINMENT

Be the party – throw your own house party, wine tasting party or kegger - This is not only easy on your bank account, if you’re one to throw awesome house parties, your reputation (social proof) will grow and your social life will be much richer. Plus it’s a lot more fun to be known as the person who throws awesome parties on campus.

Just be sure to have a few close friends who are willing to help clean up afterwards if things get messy

Free, discounted cover or line bypass to clubs/bars – Now you’re going to ask “how am I supposed to pull that off?”

While this isn’t easy to begin with, if you have the knack for connecting, relating and schmoozing with people, you can easily plant the seed of familiarity with bouncers by befriending them.

Bouncers usually come off as aloof and cold, but if you’re a regular and genuine in your intentions in befriending them, not just because you want to “use them”, but because you respect him and his role in being a gatekeeper for the venue that you’re patronizing.

If you go to that venue regularly, and engage in sincere banter with the bouncer and MOST IMPORTANTLY remember his or her name, it’s only natural that they’ll treat you like gold if you treat them like gold first.

Rainbow Cinemas (or any other cheap cinema) – let’s face it, a lot of us can’t afford to regularly catch movies at $11 a pop. For those of us who are lucky enough to have discount cinemas within a 30 minute commute, you should exercise this privilege and save over 50% per movie ticket compared to AMC or Cineplex Odeon cinemas.

Movie/Board games night – this a fun and relatively inexpensive way of having fun with friends without breaking the bank. You can provide the most basic of snacks or appetizers and have your friends bring their own drinks/booze and let the good times roll. You can have variations on this like Nintendo Wii night, Guitar Hero, Rock Band, LAN Party, etc.

Free Events – Check out for free festivals/events or heavily discounted events around your city.  In Toronto, there are great free cultural events like the Taste of the Danforth, Nuit Blanche and Open Doors.

TV/movies online – don’t buy cable! You can download all the shows you want to watch or stream it through the internet through various websites. You can check out www.surfthechannel.com or if you’re American, you can resort to www.Hulu.com.

STAYING IN TOUCH (communication)

FREE Long Distance! – Using Skype is the cheapest way to keep in touch with family and friends worldwide without incurring any fees. All you need is access to a computer, headphones, mic and of course an internet connection and presto – free long distance!

If the person you want to talk to doesn’t have access to a computer, you can still call their landline through Skype as well with their highly competitive long distance rates at just a fraction of a cost compared to traditional long distance providers.

BEYOND YOUR WALLET, CREDIT CARDS, BANK ACCOUNT AND THIS ARTICLE…

While I don’t claim this to be a comprehensive guide to handling your student finances, I wrote this purely from my experiences so not all of my tips may apply to your individual and unique situation.

Having the knowledge on savings is great, but taking it to the next level by measuring your finances through personal finance software or tracking solutions/tools is crucial. They all help paint a clear and vivid picture of what sort of financial ground you stand on – be it firm or shaky.

When you’re on top of and measure your finances, you become fully conscious of where you’re money is coming and going, you’ll be less likely to throw yourself into financial turmoil.

To make this happen, it’s 20% mechanics and 80% psychology – meaning that your mindset is one that is budget-oriented (or “frugal”) and your beliefs towards money are in line with how you want your financial situation to be. It’s easy to be measuring everything you spend down to the penny, but if you’re still spending it if it grew on trees, then it totally defeats the purpose of doing it in the first place if you’re not making any progress and not making the changes towards your beliefs of money internally.

When you slowly make small improvements on a daily and consistent basis, you’ll see a slow and gradual progression of your financial situation, eventually feeling empowered by your new outlook and beliefs towards your finances. That belief that you’re cultivating can lift yourself out your financial situation by staying accountable to your vision and attaining financial freedom as a student!

If there or any gaping holes I’ve left out or you have tips of your own, feel free to leave your feedback or constructive criticism in the comments section!

With tax season upon us, the majority of Canadian post-secondary students who don’t know how or care to do their own taxes most likely decide to walk up to the local H&R Block cough up $30 to have their income tax return, compared to those fortunate enough have their parents, family member or friend do it for them.

For those of you who already know how to do your own taxes, did you know that you could file it online for free? With a partnership between UFile.ca and the Canadian Federation of Students, you can file your taxes online and on time for free can be found here. Conversely, as that promotion applies only to students, everyone else can use StudioTax found here.

As for those who aren’t fortunate of having their own taxes done for them, don’t despair! You can have your income taxes done for you for FREE through the Community Volunteer Income Tax Program (CVITP) run through volunteer initiatives supported by the Canada Revenue Agency.

After scouring the internet, here’s a list of free tax clinics that I found run by your school’s student union. (If your school isn’t listed, here are alternative services that are under the CVITP program if you follow this link)

• University of Alberta
• University of British Columbia
• Brock University
• Carleton University
• George Brown College
• McMaster University
• Mohawk College
• Ryerson University
• University of Toronto (St. George Campus)
• University of Toronto (Scarborough)
• University of Waterloo (Undegraduate students)
• University of Waterloo (Graduate students)
• University of Western Ontario
• York University

Here are some common things to bring with you to make sure your return can be prepared:

* Photo I.D. and S.I.N
* Rent Receipts
* Medical Receipts
* Charitable Donation Receipts
* Public Transit Passes (Monthly or longer)

Information Slips
* T4, Statement of Remuneration Paid
* T4A, Statement of Pension, Retirement, Annuity, and Other Income
* T4E, Statement of Employment Income and Benefits
* T5007, Statement of Benefits
* T5, Statement of Investment Income
* 2005 Notice of Assessment for Tuition carry forward amount
* RC62, Universal Child Care Benefit (UCCB)
* T2202A, Education Amount Certificate

Furthermore, I’m pretty sure you can attend any one of these free tax clinics even if you don’t attend the school that’s hosting the clinic, provided that you can prove that you’re a student.

If I accidentally omitted your school and you know that your school does in fact have a free tax clinic, please post it in the comments so everyone can benefit! Thanks!

- Will