MoneyFlex

By Sandy Yong on May 12, 2025
Estimated reading time: 9 minutes

By Sandy Yong on May 12, 2025
Estimated reading time: 9 minutes

Here are several ways you can create habits that encourage saving and smart spending so that college or university life can be less stressful.

Let’s face it—life as a student can be challenging. You have to pay for tuition and textbooks (and housing, food and more for those not living at home); combine that with not having a full-time income, and the need for extra money is real. If you don’t want to feel constantly strapped for cash, consider these tips to make some dough, keep spending in control, crush your savings goals and tackle student loan debt early.

Here are several ways you can earn some extra money on the side while juggling school.

One of the most common ways to access extra money is having a part-time job. Consider working in retail or at a restaurant, or getting a seasonal job, where you can work at a tourist attraction or resort. Having a summer job is a great way to obtain professional skills while enjoying time off of school and having a lighter course load.

When I was in university, I worked on campus as a teaching assistant and a research assistant. This was a convenient way for me to earn extra cash in between classes so I could pay off my credit card bill every month and enjoy a night out with my friends—without worrying if I could afford it.

Enrolling in a program that offers a paid internship or co-op is an excellent way to gain work and industry experience and make some money.

What’s more? These types of co-ops can often pay more than the minimum wage. The average co-op earnings is $12,400 per work term in Canada—a win-win situation. Be prepared to pay a co-op fee. Depending on whether you are a domestic or international student, on the number of placement terms, and on which year you enter into the program, the co-op fee can range from $485 to $1,063 per work term. This helps to cover the cost of running the program, including helping students’ job searches and interview prep. The amount you earn during your work term will more than make up for it.

Plus, you can add this experience to your resume to help you stand out from your competition when you graduate and start your career.

Let’s not forget about the scholarships and bursaries that you may be eligible for. Each year, there are countless financial aid opportunities to apply for, and you could receive hundreds to thousands of dollars to help pay for tuition. It can really be worth the time to apply if you meet the criteria, which can be based on academic performance and/or community involvement.

Do some research to find out which ones you qualify for and would most likely be granted. Be sure to submit your application before the deadline. By........

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