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Murray Baker's The Smart Card-Holders Creed
(repeat aloud whenever you feel the buying impulse)

I will always pay off my credit card on or before the payment due date regardless of floods, sleet, snowstorms, Bay Days, or midnight madness sales.
I will buy only those items which I would otherwise purchase in the course of daily living, without the prodding of TV, radio, magazines, and other advertising media.
Despite the strong bond between me and my credit card, I will never invite my credit card into an establishment where I will be consuming alcohol.
I will remain faithful to my regular credit card and not discard it for a more prestigious or glittery card unless there is a clear financial advantage in doing so.
I will not give my card number over the phone unless I am absolutely certain or the credibility of the merchant on the other end, and I will only give it out when I have initiated the call.
I will not let TV and my credit card mix, regardless of how glittery those cubic zirconia look or how much Billy Blanks promises to change my life.
I will respect my credit card and not burden it with the pressure to lift me from a rut, the February blahs, or the exam-time blues.
I accept that everyone and everything has their limit, I therefore pledge not to push my card to its limit or beyond.

"love of money is the root of
all evil."

--New Testament

How to save a few bucks at Holland College

Dental Assisting Clinic

Teeth cleaning for $10? It's got to be a misprint, right? Wrong! Our Dental Assistants in training are anxious to practice their skills on other students (must have a valid student ID card). Give them a call at 566-9552 to make an appointment. Clinics are held during specific months only.

Automotive Repairs/Preventative Maintenance

Need some work on "ole Betsy" to keep her running through the academic year? Call 888-6443 for an appointment. You pay only for the parts used. The Automotive Technology program is located in Slemon Park.

Culinary Institute of Canada

A cafeteria like no other - with prices to match! Delicious meals cooked and served by our Culinary Arts students. Visit the cafeteria located in the Tourism & Culinary Centre, 4 Sydney Street.

"When it is a question of money, everybody is of the same religion."

--Voltaire

Student Travel
Google "student travel" to find many websites offering discount travel.

Budgeting for Students

Money Management - how we all hate to hear those two words together! No matter how much we earn, most of us voice the same complaint: "I don't have enough money." We never seem to have enough, and we worry about our finances. But the problem doesn't stop there. Some of us spend more than what we have and end up in debt - a position we don't want to be in. Hopefully, you will find some helpful advice, links and tips here to make your time at Holland College a successful one.

Dick Young, CFP, a certified financial planner licensee with Investors Group Financial Services Inc. in Charlottetown has prepared Financial Management 101 - a required course for every post-secondary student. It's definitely worth a look.

Now, let's look at some other philosophies...

"Everyone should have a hobby. Learning how to handle money is the best one."

-- Jack Hurley

Interesting perception. Going to college is expensive - you know the saying - education isn't heavy to carry around (but your debt load can be). Inflation, recession, and other economic factors contribute to the problem.

Money means different things to different people. To you as a student, it means that if you don't have enough money, you won't be able to complete your education. It also means that you need to make several short-term sacrifices and decide carefully what your priorities are. Of course, once you graduate and have a job, things will be easier. After all, one of the reasons you want a certificate or a diploma is to help you get a job that will provide you with financial security.

Financial status tends to be one of the major areas of concern for many people making the transition from employment to being a student, or vice versa. Here's how to deal with this - analyze your finances and prepare a realistic budget (easier said than done, right?). Doing this will give you a sense of control while allowing you to focus your energy on your new initiative - whether that be returning to College or beginning your job search campaign.

"Lack of money is the root of all evil."

-- George Bernard Shaw

Great words of advice....but how do you do it? Here are some other steps you might want to consider taking to help control your money during this stressful time, in addition to preparing your budget:

List all of your costs to reduce all unnecessary expenses
Keep a close record of all your expenses - not matter how small - this will give you an idea of where your money is going every day.
Plan ahead and carry only as much cash with you as you need to do what needs to be done that day. Leave those credit cards at home!
If you're moving to find a job in another area, be sure to save all receipts on all your moving expenses for income tax purposes.

Why is money management (there's those two words again) necessary?

Well, let's see... if you manage your money effectively, you can

live within your means
minimize stress and worry about money
achieve goals you set for yourself
feel good about your ability to balance your budget

Where do you begin?

The first thing that will help you is to plan a budget. You will total up your income and your expenses, and rank your goals in order of importance which will help you save for them.

Preparing a Budget - Five easy steps

What is your income? While you're a student, income could come from a variety of sources; salary from work, scholarships, grants or loans, or allowances from parents, other relatives or guardian.
List all fixed expenses. These are expenses that you need to pay on certain dates and in specific amounts - they remain unchanged - such as your rent. If you have a fixed expense that you pay only once a year (such as car insurance), determine the average by dividing it by 12 (if you are doing a monthly budget).
Estimate all flexible expenses. These are the ones that vary and the ones you have control over such as clothing, food, and entertainment. Now, list them in order of importance to you. Well, you need to eat, and pay for transportation to get to school, so rank these at the top of the list.
Estimate savings. Your goal is to have your income higher than your expenses. Then you will have money left over to spend on something you want. Although this is not always possible, there is absolutely no harm in setting a goal and trying to achieve it.
Evaluate and adjust accordingly. Are you satisfied with the outcome of your budget? If not, make the necessary adjustments until you are comfortable with it. This may mean some lifestyle changes, so be prepared.

Evaluate your budget for one month

What are the results? Your goal is to have more money coming in than going out. If less money is coming in than going out, you have several options:

You can try to bring more money in. For instance, find a part-time job (provided that it won't affect your program).
You can decrease the amount of money you spend. Look at your flexible expenses (such as clothing and entertainment) and see where you can cut down on the costs.
If possible, do both of these things. You need to look carefully at your own situation and see what you can do.

Need extra money? Who doesn't, right?

You need money to go to school. Visit our Financial Assistance page for more information on Student Loans, Skills Development and Scholarships, Bursaries and Awards.

Other websites of interest:

How can you save money?

Live within walking distance. Why fight the traffic when you don't have to. Besides it's good exercise!
If you have to drive, try to carpool. Are there other students in your program who live relatively close to you?
Get a roommate. Why pay for all the rent, utilities and groceries when you can split the cost. Two brains can sometimes be better than one when studying. And for those of you moving to PEI, not staying by yourself can be comforting.
Buy used books whenever possible. Your friends may know people who want to sell used books. Check with your instructor/learning manager to see if they know of former students who would be willing to sell their books. Check the bulletin boards for notices, or put your own up. Word of caution: make sure you are buying the correct version of what the class will be using.
Get a part-time job. Depending on your program and course load, you may be able to work a few hours throughout the week and on weekends.
Don't shop for groceries on an empty stomach. Make a list and stick to it. Eat before you go. You are less likely to buy things you don't really need, like junk food.
Use coupons when shopping - they make a difference!
Take a healthy snack and lunch. You not only save money, but will consume more vitamins and minerals than what the vending machines have to offer. Don't get me wrong....there is a time and place for that quick surge of sugar. Visit our coffee shops and cafeteria if you don't bring your own lunch - they have healthy choices too.
Avoid "impulse buying". Plan when and what to spend. The temptation of buying things you don't need if often what gets people into trouble.

Add your own ideas to this list and check with your friends for more tips.

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