How to budget as a post-secondary student

Tackling independence while staying on budget, advice from the 2SLGBTQ+ Business Development Team at TD

This content was created and paid for by TD, separate from Xtra’s editorial staff.

University and College are all about gaining independence, higher education and learning to do many things on your own – like learning to manage your money. For students, establishing yourself can feel challenging when trying to keep your personal interests and values aligned with your financial goals. What’s important, though, is that you establish a financial plan that works for you with the help of an expert you trust.

To ensure that students stay on financial track as they navigate life at school with increased independence, Adam Leroux, National Manager, 2SLGBTQ+ Business Development at TD offers some financial tips that students can consider, or discuss with their friends and family as they enter the second half of the school year, likely with decreased savings, post-holiday season.

Establish your daily routine and learn where you tend to spend your money. Having a financial plan allows you to decide where you spend and where you save. “To properly budget both your time and your money, choose your priorities like deciding to pick up a latte once a week and going out with friends twice a week so you can decide how you spend,” Leroux explains. “The first step in having a financial plan is to know what you’re planning around, and establishing a routine is a great way to make that simple”.

Start a savings account. Budgeting isn’t about restricting yourself—it’s about creating space for the things that matter. For students who may not have much experience budgeting and putting money aside, opening a savings account can be a great way to learn financial responsibility without compromising your ability to enjoy yourself during your formative years, says Leroux.

Meet with an advisor. Like Leroux, TD Regional Managers and expert advisors from the 2SLGBTQ+ Business Development Team are available to provide inspiration, advice, and financial guidance that embody the same cultural spirit, pride, and values that 2SLGBTQ+ students embody themselves. “Certain expenses or life goals may be unique and knowing that there are financial professionals available that understand these students’ needs and preferences can help inspire confidence in the advice they receive,” says Leroux.

The TD 2SLGBTQ+ Business Development team is available for students looking to access the people, products, and services they need to reach their financial goals. TD is here to support 2SLGBTQ+ students succeed in achieving financial wellness, and also help them feel empowered to do it their way, with a financial strategy that celebrates who they are.