Going to college is one of the best choices you can make. It is an investment in yourself and your future.
With planning and research, you can be well prepared. Here we bring some information on how to create a budget and, be prepared to update it as necessary.
To begin with, estimate your educational costs by filling in the blank spaces for an eight (8) month period in the chart below. Total them up at the end. It is important you make sure your figures are as realistic as possible.
Where do I start?
1.Financial Expenses Checklist
| Education Costs | |
| Costs | My estimated amount |
| Tuition (including compulsory fees? | $ |
| Books/supplies/equipment | $ |
| Rent/Residence/Board (if applicable) | $ |
| Food(fast food, groceries and/or meal plan) | $ |
| Public Transportation (Metropass or ticket prices) | $ |
| Driving(gas, parking, insurance, maintenance, car payments) | $ |
| Child Care ( if applicable) | $ |
| Living Expenses (entertainment, clothing, cell phone, internet, telephone, utilities) | $ |
| Personal Expenses (other miscellaneous costs, i.e. credit card payments) | $ |
| Other | $ |
| Total Cost (This total will be used to determine your financial need) | $ |
2. Financial Resources checklist
Ask yourself the questions provided in the chart to find sources of funding before you begin post-secondary education.
| My Resources List | |
| Resources I expect to have | Amount $ |
| Savings before school | $ |
| Registered Education Saving Plan Contributions | $ |
| OSAP Entitlement | $ |
| part-time job during school | $ |
| Government income is., ODSP, Second Career, etc | $ |
| Parent/Spouse Workplace Bursary/Scholarship | $ |
| Bursaries successfully applied for | $ |
| Scholarship successfully applied for | $ |
| Organization support (such as Girls Guide, Boys and Girls Club) | $ |
| Religious affiliations (church, temple or other religious groups) | $ |
| Other | $ |
| Total Resources (add all your Resources from above list) A | $ |
| Total costs (refer to your total Cost on the previous chart) B | $ – |
| Additional funding that I will need to find (Resources minus Costs) C | $ |
Click here to view or print out your financial expenses and resources checklists.
Don’t be shy. If you have any questions, ask our educational agents at Maple Exchange through the email contact@mapleexchange.ca or just leave a comment on this post and we will get back to you ASAP. 🙂
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