Six financial tips from the FSU Finance Coordinator

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Anthony Stergiu is the Finance Coordinator at the Fanshawe Student Union (FSU) for the 2018/2019 school year. One of his goals for the position is to create financial awareness across campus and help students learn about budgeting.

Stergiu is enrolled in the finance program at Fanshawe and has been applying skills learned in the classroom to his role as the Finance Coordinator since May of this year. Interrobang spoke with Stergiu and he compiled a list of financial tips for students on how to make the most out of their money.

Take Responsibility

This is the most important tip of them all. Without proper discipline and responsibility even the most well-constructed budget will fail. It is up to you to ensure that you follow and understand the rules you set out for yourself.

Have a well-constructed budget

Ensure your budget accounts for all of your spending, income and expenses. I recommend following the 50/30/20 rule. Put 50 per cent of your income towards necessities, 20 per cent towards financial goals such as saving or investing and 30 per cent towards your discretionary spending.

Seek financial aid

Applying for financial aid is easy and quick. No matter how little or large these grants and bursaries are they will definitely help you save up some much needed cash.

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Buy used

If you need something, odds are someone is selling it on either eBay, Kijiji or Amazon for much cheaper than brand new. This goes for everything from used textbooks to used desks. Buying used will definitely save you a pretty penny.

Sell

If you are like me, odds are you have some old, unused stuff lying around. Instead of letting those things collect dust in the corner of your room sell them online! Even if it is only a little bit of money it is more money than what you had before.

No name brands

If you can get the same products without the extra cost associated with the name brand, do it! Odds are it is going to be much cheaper and the quality difference is typically minimal.

To get in contact with the FSU Finance Coordinator, Anthony Stergiu email: a_stergiu@nullfanshawec.ca.