Students are generally limited in their resources. However, this is not a subject to be taken lightly. Controlling your personal finances as a student can help you reduce or avoid debt and enter the job market with the best possible financial situation.
This article covers the basics of personal finance for students. Then, we share books and courses on personal finance, discounts available to students and tips for building your credit file as a student.
It’s not the sexiest thing to do, but it’s a great habit to get into so you know where your money is going. The Autorité des Marchés Financiers offers a tool to help sort it all out.
This way, your priorities are focused and there are fewer surprises at the end of the month.
Contact your local ACEF (Associations coopératives d’économies familiales) for a range of budgeting and financial education services. These non-profit organizations also provide information on consumer protection.
On its website, ACEF offers clear, objective information and personal finance tools for all age groups, including students. For example, in the personal finance section for students, you’ll find the “Student Budget” tool (in French only).
As a student, you are entitled to deductions and tax credits. The tax return is used not only to declare your income, but also to claim expenses you have incurred.
If you’ve moved to go to school, paid your tuition fees or are paying interest on your student loan, you’re eligible for more money in your pocket.
Here are a few examples from the two sites concerned:
You can have a youth or student bank account with no monthly fees. Search for financial institutions that offer account opening bonuses.
You can benefit from free tuition throughout your studies, until some time after graduation.
Use our bank account comparator to check out our range of accounts for students. For example:
Many financial institutions also give you access to your credit rating online. This is offered free of charge by your financial institution, in collaboration with the two major credit bureaus, TransUnion and Equifax.
Often, students are not yet exposed to or informed about credit files and scores. If this is the case for you, consult this guide ” How credit scores are calculated in Canada “. Also, check out this guide to learning ” How to build a credit file as a student in Canada. ”
To make the best decisions for your financial situation, it’s important to know as much as you can. Personal finance for students is no exception.
Here are some of the best resources for personal finance. You’ll thank yourself later!
Finally, read our article Spending money wisely, or how to get richer
There are also free courses on personal finance. As a student, now is the perfect time to take these online courses:
Use the power of your student card for special offers and discounts at many stores!
The ISIC (International Student Identity Card) is for students 12 years of age and older as well as for people 30 years of age and younger. For $20 a year, you get discounts at various businesses, museums, Via Rail, hotels, tourist attractions, transportation and ready-to-eat lunch boxes. It is accepted in 130 countries. For more information: isiccanada.ca
The SPC (Student Price Card) offers students significant discounts on a wide range of products and services, including travel, shopping and dining.
SPC Card membership costs $11.99 per year. However, you can obtain the SPC+ Card free of charge if you hold one of these 3 CIBC financial products when you register for SPC :
To find out more about the SPC card, consult this guide: Students and the SPC card: Save on travel and everyday expenses
Many stores offer student discounts, with the simple gesture of showing your student card.
More personal finance tips and tricks are available for students.
First, you can find a cheaper mobile package by comparing the various products on the Protégez-Vous website.
Then, don’t hesitate to join loyalty programs to maximize your savings.
Finally, use online shopping portals such as AIRMILESSHOPS, Aeroplan eStore or Rakuten to make your purchases.
In Canada, there are several credit cards for students. Getting your first credit card when you turn 18 helps you build up your credit file and gradually improve your credit score.
Indeed, the notion of credit history is very important in the calculation of the credit score. The best solution is to take out a credit card with with no annual fee that you’ll keep for as long as possible: it’ll be one of the cornerstones of your credit file (alongside other financing such as a student loan, a car loan, etc.).
To find out more, consult the guide “The best first credit card for student“.
The CIBC Dividend® Visa* Card for Students is the card we voted the best student credit card of 2025.
Very easy to use and understand, it offers :
CIBC also provides free membership to SPC.
According to Milesopedia 2025 Awards, the National Bank Platinum Mastercard® has won the title of Best Credit Card for Young Professionals. It has an annual fee of $70, but it’s well worth it with the points it gives, its advantageous rewards program and its comprehensive insurance.
What’s more, this credit card also comes with valuable mobile device insurance. So if the cell phone or tablet purchased with this card is broken, lost or stolen, the warranty offers up to $1,000 replacement or repair!
Studying is a stressful time, especially as mid-term and final exams approach. However, mastering your personal finances as a student is something you shouldn’t take lightly for later!
And remember, there are ways to chill out, take it easy and relax. Have a great school year!
Read on with our articles for students:
Budgeting isn’t the most exciting thing to do. But it’s a great habit to get into so you know where your money is going. Several resources are available, including the AMF (Autorité des Marchés Financiers) website and the ACEF (Associations coopératives d’économies familiales) website.
Managing your money properly as a student is really important. For this, there are tips and tricks such as budgeting, reducing recurring expenses and adopting good consumer habits. In addition, take advantage of student discounts at grocery and retail stores. Also, open a student bank account (with no monthly fees during your studies) and get your first credit card to build up your credit file.
Controlling your personal finances as a student can help you reduce or avoid debt and enter the job market with the best possible financial situation. The first step is to set up a budget and understand where our money is going. Next, you need to cut back on spending, taking advantage of student discounts at grocery stores and other retail outlets. Finally, you need to open a student bank account, with no monthly fees during your studies.
The basics of personal finance for students begin with an assessment of expenses and income (if any). Then enter this information into a budget to understand how much can be allocated to each category of expenditure. For help, ACEFs offer personal finance tools for all age groups, including students. Next, students need to find out what deductions and tax credits they are entitled to claim on their tax returns. Finally, check out grocery stores, retail outlets and banks that offer student discounts.
Savings are here:
