Financial Planning for Post-Secondary Students: 8 Money Mistakes to Avoid
According to the Canadian Millennium Scholarship Foundation, only 54 per cent of university students and 58 per cent of college students graduate from their original program of study within five years. While these numbers don’t take into account students who switch programs and successfully complete them, they do underscore the fact that many students aren’t prepared for the rigours of post-secondary school-something I’ve witnessed first-hand as the Post-Secondary Student Adviser at the Toronto Film School.
We normally associate these rigours with academics, but a leading cause of dropping out-directly and indirectly-are financial struggles, which are often a result of poor money management.
Here are some tips and tricks to avoid the eight most common money mistakes I’ve seen post-secondary students make.