How International Students Can Save Money in Canada

It’s a common misperception that only certain people can afford to study abroad because of the high cost. My own experience, though, proves just how pretty affordable it can be! There are several simple strategies to save money as an international student in Canada.

I’ll give you a brief review of these suggestions below, along with how these strategies can lower your expenses, help you save money, and make your life as a student easier.

1. Apply for scholarships in Canadian universities/colleges

There are many scholarships available for studying abroad! Check first on your college website.

I got a scholarship from my college of $2000 as I was eligible in the criteria of getting 80% in my previous education. Similarly, there are many other scholarships available for international students. Receiving a scholarship will significantly reduce the cost of your studies.

2. Get a Part-time Job for monthly expenses

When you’re a student, you’ll have some time off during the week and on the weekends that you can spend wisely. Working part-time while you’re a student in Canada is a fantastic way to save money. You can apply for part-time jobs off-campus or on-campus to work late evenings or weekends without affecting your study hours. 

I have been working in Walmart as a cashier on a part-time basis, which allows me to manage my monthly expenses and save a significant amount of money.

A few lucrative part-time job options are listed below:

• Retail stores and shopping centers
•  Managing cafes, waiting tables, work at restaurants and fast-food outlets
•  Personal Assistant/Tutoring/Swimming Instructor/Note-Taking/Personal Trainer at Gyms On-Campus Jobs
•  Jobs in libraries for bookkeeping, data entry, and assistants

3. Save on Accommodation

One of the expenses of living in Canada is rent. International students have many options for housing, including shared rooms, dorms, student hostels, apartments, etc., both on and off campus. However, living on campus is usually more expensive than living off campus.

In Canada, most students prefer shared rooms to cut the monthly cost. I had lived in a shared basement room that cost $350 per month. Also, you feel good when you have someone to talk to and share your feelings with. My roommate and I also split groceries, saving our money and time for cooking as we make it together.

4. Get an International Student ID

It’s immensely advantageous to carry a student ID with you wherever you travel. Not only does it serve as proof of your student status, but it can also unlock a wide range of discounts and benefits. This card provides fantastic deals on museums, transit, and excursions, so don’t pass it up! During my recent trip to Montreal, I was surprised to receive a discounted ticket for entry to a beautiful church Notre Dame Basilica and Botanical Garden.

Many companies give discounts to students, particularly courses that need a monthly charge. Before enrolling in anything, be careful to ask if there is a student plan. Several categories are:

• electronic retail
• Streaming providers like Apple Music, Spotify, and Amazon Prime provide student discounts or promotions.
• Restaurant
• banking accounts
• gym subscriptions
• Transits

5. Reduce the overall cost of living – shopping, food, and groceries

Apart from housing and transportation, food, groceries, and other shopping necessities, all go toward the overall cost of living. By using the below advice, you can easily control these costs.

Learn to prepare your meals. No matter where you live, eating out is never a wise choice. Instead, prepare home-cooked meals which are quick, wholesome meals that are full, healthy, and stock your pantry. Then, reward yourself with a takeout or fast food meal once per week.

To reduce the cost of your grocery bill, shop at your neighborhood supermarkets and farmer’s markets. To avoid overstocking, create a meal plan and then go grocery shopping once a week.

You could also have additional miscellaneous expenditures. Shop wisely during Christmas specials or even online, where you could get the same high-quality items for half the price or less. Choose cheaper expenses such as internet and phone bills to save money.

6. Reduce Travel/Commuting Costs

Public transportation in Canada offers student discounts and is quite economical. You can register for public transportation passes and use them for unlimited travel from your house to campus or anywhere in Canada.

Consider walking or biking to your college as a great way to save money and keep fit.

7. Health insurance cost

Many Canadian provinces provide free public healthcare coverage to international students. However, this differs from area to area. For example, suppose the region you live in does not offer general healthcare insurance to international students. In that case, you should obtain private health insurance for your study course. You can search for healthcare insurance providers who offer maximum benefits at cheap premium rates. My college includes Health insurance coverage in fees.

8. Manage your finances by following a budget.

You must first create a budget describing the expenses you will face as an international student in Canada before you can start saving money there. Once you’ve established a budget, keep a weekly financial record of your spending and manage your money by setting aside a certain amount for each expense. Try to save the money you overspent elsewhere to make up for it if you spent more than you intended over the week. You can monitor where and how your money goes by creating and following a budget.

The following is a list of costs you will face when studying in Canada:

• Food and groceries
•  Fees for tuition
•  Cost of the study materials and lodging (Rent)
•  Commuting/Transportation
•  Health Insurance
•  Recreation
•  Phone/Internet communication
•  Travel costs
•  Clothing and personal expenses

9. Reduce your study costs by selecting the appropriate program and location.

Many factors affect the total cost of study in Canada. However, the cost of education is one key component that you may manage to save money by enrolling in colleges with affordable tuition fees.

Several universities/colleges charge lesser tuition fees for graduate/undergraduate courses. Suppose the university/college is reputed and offers an equivalent quality of education. In that case, you can apply and save money. You can also choose an accelerated degree course that you can accomplish in two years rather than a three-year degree program. These programs are known as fast-track programs. You can save a whole year’s worth of living expenses. Choosing the right destination also helps to save money. For example, in Ontario, Living expenses and tuition fees are higher compared to other provinces such as Nova Scotia and Saskatchewan. My point is to research location and college fees before applying for courses.

10. Find low-cost hobbies

Going out to parties and trendy college hangouts is a great way to spend a week’s money in one evening. However, If you want to save money, avoid these more expensive places and instead pursue low-cost hobbies such as:

• Riding a bicycle
•  Visiting the gym
•  University clubs are free to join.
•  Leagues of local sports
•  Associations for local gaming and eSports
•  Hiking

11. A group adventure

Higher numbers can be beneficial for quick weekend outings. Splitting the cost of an Airbnb stay with friends makes it significantly less expensive, and some destinations offer group discounts. Take a few friends on a weekend trip if you want to go somewhere.

By implementing easy budgeting ideas into your daily routine, you’ll be able to save more money while in college and avoid some of the financial pressures. In addition, these suggestions will help you get more sense for your money while studying in Canada!