Summer To Do List

Tue, 10 Jun 2014 02:42:41 +0000

I’m well aware the summer is sacred and should be filled with all things fun and making some dollars as well. Unfortunately there are a few important things that should be added to your summer to do list that really aren’t that fun but definitely necessary. Recently after reading a great blog post about Student Loans by Latisha at Young Finances I realized student loans should be on my to do list ASAP.

Summer To Do List – The Necessary but Boring Stuff

1. Check in on your student loan totals

Especially as a recent grad this is critical, you need to figure out exactly what you owe and when interest will start accumulating. For some reason the website that I used every year to apply for OSAP is not the same place I use to figure out my total loan due…thanks for the confusion. For all Canadian students, check out the National Student Loans Service Centre, make an account and figure out the total you owe and your loan status. You don’t want any surprises.

2. Budget

Yup, I went there. I know from my previous summers that as soon as I start bringing in money from my summer job, spending limits go out the window. Make sure you figure out how much you need for the school year..and be realistic, and make sure you put that money away. Also take into account that you may want to travel after graduation, the more in advance you start saving the more money you’re likely to have.

3. Check-in on your bank account

For those that have recently graduated your student bank account may expire/change. When this happens you’re likely going to have fewer monthly debit transactions, and fees! Keep on top of this because you don’t want to lose money on fee’s you could have avoided.

4. Take a Summer Course

If you either want to get ahead or have fallen behind a summer course might be a really good option for you. This means studying, doing homework, midterms and exams, but in the end it’s all for the best.

I’m sure the list could go on, but I don’t want to overwhelm anyone here. Keeping track of things like student loans and your bank accounts will definitely help save you hundreds of dollars in interest or fee’s. It’s not fun but having that not so fun summer to do list is key to financial awesomeness.

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Generation Jobless-Are we in trouble?

Fri, 15 Mar 2013 00:42:18 +0000

This isn’t something that we haven’t heard before and it’s all a big mess of debt and lack of job opportunities that keeps getting brought up again and again in the media. The CBC developed a documentary called Generation Jobless at the end of January discussing the issues related to university grads unemployment, underemployment and the connections with debt. You can watch this documentary by clicking the link below (at this time it is only available for Canadian viewers)

Generation Jobless-CBC Documentary

Here are a few stats to think about;

Canada has one of the highest underemployment rates out of all the O.E.C.D countries
1 in 3 Canadian college/university grads between the ages of 25-29 end up in low skill jobs
Average student debt is about $27,000

It’s scary to continue to think that student debt is rising steadily while it’s also becoming harder and harder for Canadian university grads to get a job after taking on all that debt.

This is definitely a great watch, make sure to check it out.

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Do you feel prepared after graduation?

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