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Managing personal finances as a student is a daily challenge. Between tuition, housing and unexpected expenses, every dollar counts. In this article, discover practical tips for managing your student budget, saving wisely, maximizing student discounts and taking advantage of the right methods to build financial stability today.
It may not be the most stimulating activity, but keeping a budget is an excellent way to keep track of where your money is going. In fact, the Autorité des marchés financiers offers a handy tool to help you see things more clearly.
This way, you can identify your financial priorities and reduce unpleasant 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 can take advantage of a number of tax credits and deductions. The income tax return is not only used to declare your earnings, but also to recover certain eligible expenses.
If you’ve paid tuition fees, moved for your studies or are paying off interest on your student loan, you may be able to get credits that increase your repayment and lighten your budget.
Here are some examples:
You can have a youth or student bank account with no monthly fees. Search for financial institutions that offer account opening bonuses.
You can enjoy free access throughout your studies and for a certain period after graduating.
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 score online. This is offered free of charge by your financial institution, in collaboration with the TransUnion and Equifax credit bureaus.
Often, students are not yet exposed to or informed about credit files and scores. If this is your case, consult the following guides:
To optimize your budget, use Chexy to pay your tuition and rent by credit card and maximize your reward points. This approach not only helps you manage your cash flow, it also offers you additional financial benefits. For more details, consult our guides :
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:
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 have one of these 3 CIBC financial products when you register for SPC :
To find out more, consult the following guide:
Many stores offer student discounts. In particular:
For further information, please consult the following guide:
Here are some other personal finance tips and tricks for students:
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 thing to do is to take out a no-annual-fee credit card 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.).
The CIBC DividendMD Visa* Card for Students is the card we voted the best credit card for students in 2025.
The CIBC Dividend® Visa* Card for Students is one of Canada’s best cashback Visa credit cards for students. Sign up for a card and receive up to $125 cash back.
With this CIBC Student Credit Card, you get:
What’s more, with this CIBC Student Credit Card, you benefit from a free free membership to SPC, for instant savings on over 450 in-store and online transactions.
And this CIBC Student Credit Card offers some insurance coverages:
According to Milesopedia 2025, the National Bank Platinum Mastercard® has won the title of Best Credit Card for Young Professionals.
With this offer for the National Bank Platinum Mastercard®, enjoy a rebate on the first year’s annual fee (a $70 value) and receive up to 25,000 bonus points distributed as follows:
With the National Bank Platinum Mastercard®, you can earn 2 points per dollar on grocery and restaurant purchases, and 1.5 points per dollar on gas, EV charging, recurring bills and À la carte Travel.
Since it is an NBC mycredit Mastercard, you can use it at Costco.
Unlike the other two National Bank travel rewards cards, the National Bank Platinum Mastercard® does not require a minimum income.
What’s more, you can take advantage of a wide range of insurances usually reserved for high-end credit cards:
We voted the National Bank Platinum Mastercard® as the best credit card for young professionals in 2024.
By taking a few simple, effective steps, you can strengthen your personal finances as a student, easing your financial stress. Whether it’s through a well-established budget, student discounts or a well-chosen credit card, every decision brings you closer to greater autonomy. Start applying these tips now to move towards a healthier financial life, even during your studies.
Set a simple budget, take advantage of student discounts and deposit your savings in a high-interest account to make them grow.
Choose a card with no annual fee, offering discounts or points on everyday purchases such as groceries, gas and subscriptions.
Keep track of your income, fixed and variable expenses. Set aside a portion for savings and adjust your habits according to your priorities.
A student bank account allows you to avoid monthly fees, receive your loans or grants and better manage your day-to-day transactions.
Savings are here (if you don’t see the sign-up form, please click here):
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