As we all know, being a student or young adult in today’s economy makes our financial future a nerve-racking topic. As many others in this position, I’ve been finding ways to minimize my spending in order to put as much of my hard-earned money as possible into savings — for the big purchases ahead, like my first house, car, or other “big-girl” investments. Here are a few things I’ve started doing since the beginning of university that help me feel like I’ll have a smaller financial burden in the long run.
1. Starting my trousseau
Even though I am nowhere close to moving out yet, I’ve started accumulating items for the future — from bedroom and bathroom essentials to kitchenware and home decor. Having these things ahead of time means fewer purchases to make when I eventually move out.
A great way to start your trousseau is by asking your parents, grandparents, aunts, uncles, or older family members if they have items they no longer need. Instead of throwing them out or donating them, they can pass them down to you! Once you ask, they’ll probably think back to when they were preparing their own box and gladly help.
Another reason to start early is that prices will likely continue to go up! I love bargain hunting. Thrift stores sometimes have “like new” items, and liquidation sales or stores closing down (like The Bay, for example) can offer incredible deals on high-quality pieces. You can slowly build your collection over the years without breaking the bank.
2. Spending and saving wisely
The best way to save for your future is to set aside money in a savings account or even invest in stocks. Having more money in the long run means not having easy access to it. Personally, I put most of every paycheck I earn directly into a savings account so I’m not tempted to spend it impulsively. Watching that money grow and earn interest feels amazing!
You can also “trick” yourself into saving by reducing unnecessary spending. We live in a world where we think we need so many things, but most of them aren’t as useful as they seem. If you receive gift cards, save them for when you actually need something rather than using them right away.
Here’s another tip: if you receive a gift you don’t see yourself using, store it away and re-gift it for an occasion like Secret Santa or a White Elephant exchange! People often do this with wine or chocolate — why not other items too? Saving becomes a fun challenge when your goal is to watch your balance grow, and honestly, seeing that money build up over time definitely helps calm those financial nerves.
3. Take advantage of being a student
Being a student comes with numerous free perks and discounts — from free meals (if you live at home, in residence or even the Free Food Alert for my uOttawa students!) to a bus pass included in your tuition. There are many student discounts available for products and services!
You can read more about these in another one of my articles: Smart Money Moves: A University Student’s Guide to Spending and Saving.
Here’s a new one I recently found for my fellow travelers: if you use Orléans Express buses (for Ontario and Quebec students), enter the discount code ETUDIANT2025 at checkout to save around 50% on every ride until December 15th!
Another amazing money-saving tool is the Flipp app, which lets you price-match groceries and other products across various stores. It’s a game-changer, especially for students living on or near campus. With a little extra time and effort, you can take advantage of all these student perks and feel like you have more money in your pocket.
Starting to think about your financial future while still in school might feel overwhelming, but even the smallest steps you take now will make a huge difference later. Whether it’s saving a little each month, collecting items for your future home, or taking advantage of student discounts, you’re already building smart habits that will pay off down the road. Every small action counts — and your future self will thank you for it!