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Education & Training

Create a Student Spending Plan

Setting up a spending plan before you start school can help you manage your money and save you a lot of stress. 

A spending plan is a budget that helps you:

  • Understand what you can afford
  • Plan to reach your goals
  • Get the most for your money
  • Make your money last until the end of the school year

All that's required is a little organization and about an hour of your time each month to record, review, and revise your plan.

Get started with the spending plan below to figure out how you'll pay for school and living expenses. 

Note: If you're planning to apply for a student loan, visit Alberta Student Aid to learn about the funding available to you before you create your spending plan.

Spending Tips for Students

  • Stay on track with your educational goals by creating a summer spending plan to guide you during the summer months.
  • Always have 1 or 2 months of expense funds saved for unexpected costs and unplanned income delays. It can take up to a month after you start a summer job before you get your first paycheque. Tuition deposits are often due before loan certificates are cashed and RESP redemption forms can take 4 to 6 months to process. 
  • GST cheques are sent out in October, January, April, and July. Use these to cover unexpected expenses.
  • April tax refunds are a great way to pay off any debts incurred during the school year. Save extra refund money to supplement your fall income.
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