@freestocks / Unsplash
The holidays bring a time of additional expenses, which can be stressful. Especially for students.
Laura Taron from the Financial Aid Office at Fanshawe says her advice for students during this time of year is to check in with your budget as soon as possible. This way you can assess how much money you have to spend on gifts, or events of the season.
“Especially with online shopping. People aren’t as cost-conscious about how much they’re actually spending, because it’s just coming off of their credit card.”
When it comes to buying gifts for loved ones, Taron suggests using personality and individual skills for a less costly, but more thoughtful present. She says because of the pandemic, people are also looking for ways to connect with others and this is a way to do so.
“Money might be tight, but maybe you’re a really great cleaner. So you can offer to clean your parents house as a Christmas gift,” she says “or maybe you’re a great artist, and you want to draw or paint something.”
Laura also recommends shopping locally for gifts as this will reduce any shipping costs.
The second instalment of OSAP funding should be released within the first week of January. Laura advises students to budget accordingly, because the second deposit will have less than the first that was released.
“OSAP is released in two instalments; 60% in the first term, 40% in the second. So you will generally receive less money in that second term, if that is your second term of study.”
One last piece of advice Laura shares, is for students to not stress about money too much, and enjoy the break and time with family.
“I think that it’s just been such a challenging year. And I think that everyone should really just take this time to relax and get yourselves ready for the next term. The good days are ahead.”
Comments