Have a Plan

It’s a good idea to have a plan of what you will do after university or college before you go.  Not that this plan is set in stone, but going to university to ‘hang out’ is an expensive way to hang out – you can hang out working as a store clerk while making and saving money.

Deciding to pursue a degree in a certain department because you like the subject is nice, but it may not get you to where you want.  Dragon’s Den’s Kevin O’Leary explains in his book ‘Men, Women, and Money’ that there is a passion, and a money-making career.  You can decide that you want to be a visual artist and paint beautiful landscape.  This is a very fulfilling occupation and you will most likely be very happy doing this for hours a day.  However, this is unlikely to pay the bills, at least at the beginning.  So, training for a job, to be employable, is a better financial investment in your education; painting is a fantastic side-occupation and you may want to train for a job that frees you in the evenings and weekends so you can paint, or that is flexible enough that you can eventually work part-time and pursue your love of painting more intently if you have the means.

So, in investing thousands of dollars in education should pay off at the end.  Studying marketing and finances so you can work in a bank is a good plan.  Studying biology because you like animals… not so good.  It’s very important to research what type of paying job (or business you can start) you would like to have, and work backwards from there: you want to work at an animal hospital? Animal Technicians, Receptionists, and Veterinarians are all work there and require specific training.  You want to cuddle animals and play with them? Look into animal training and animal grooming; horseback riding instructor could also be a possibility.

There is an excellent USA-sponsored site that helps you determine what your interests are, as well as defining your skills: http://www.careeronestop.org/ .  You can there fill out free questionnaires to determine what sort you career you may want to launch yourself into.  For some people, it’s difficult to choose.  For others, the interests are well –defined and they know what type of work they want to do.

Some careers require a plan ‘B’.  This is the plan where if plan ‘A’ does not turn out as successful as planned (or completely fails), there is an alternative route to follow.  For example, deciding to obtain an undergraduate in biochemistry and then go to medical school to become a cardiac surgeon is a fantastic plan.  However, not all students who apply to medical school get an offer to join.  In this case, a plan B could be:

- Start a Master’s degree in biochemistry and continue applying.  If the Master’s is completed before acceptance into Medical School, abandon Medical School and apply to Nursing School.

- At the same time as applying to Medical School, apply to Optometry, Pharmacy, Physiotherapy and Dentistry and choose an alternate career based on which program has accepted me.

- Start a Master’s degree in biochemistry and continue applying.  If the Master’s is completed before acceptance into Medical School, start and complete a PhD in biochemistry with the goal of a career in medical-type research.

Of course, as your studies progress, you may change your course; maybe biochemistry and medical school are not so attractive anymore so you are thinking of history.  That’s great – better change now thank to complete a degree you don’t like and have to restart another.  But what is your plan with this history degree? History is fantastic to study, but not so good at finding you a job.  You want to be a history teacher? A tour guide for a city? An educator at a museum? All three options would be fantastic to use your history degree; however, becoming a teacher requires an education degree (and this would be preferred for an educator at a museum too) and a tour guide would do best knowing multiple languages.

So work backwards from your dream job – you’ll get head faster I your career.

Get It for Free

When I wanted to furnish my first apartment, as a university student, I did not have a lot of money.  My mother had given me her (very) old kitchen table and chairs (oh, the feel of plastic cushions under my legs in the summer!), and two very old and low-to-the-ground chairs from a seldom-used office.  We had a few plates, a microwave that weighed almost as much as the fridge and had only one power setting, and the dresser from my bedroom; luckily, I was not moving very far.  We did want, however, a few more pieces to contain our ‘stuff’; a desk, a bookcase, an office chair, etc.

Today’s student has a lot more choices as to where to acquire a few objects to make life more enjoyable.  I just had a look at Kijiji tonight.  In the FREE section, there was a working television offered (not flat screen, but if it works, who cares?), an entertainment center, a couple of couches in decent condition, arm chairs, a couple of beds, a computer desk, two pianos (!), all free for the taking.  In all cases but one, the ‘buyer’ has to pick up the furniture, which of course is difficult for a student without a car.  However, for the price of renting a van for a few hours, you can pick up all of these if you plan it well.    In the same spirit, you can easily give away your old furniture if/when you move away from your college town.

Another, more exclusive, group that exchanges items for free is Freecycle.  Freecycle is a Yahoo group so you have to ask to become a member and the main rule of posting on their site is that everything you offer has to be free – completely free, no trades, no exchange, no conditions.  I have given many items  via Freecycle, but have also received many, many items, such as downhill skis and boots, plants, clothing for myself, an electric kettle, unopened milk (someone had an extra litre from a visitor who drank different fat % milk), and bedsheets.   In my area last night, there were offers for a free single bed (complete with mattress and bedframe), a TV, empty wine bottles (if you make your own wine), a blue vase, and hot chocolate.  You can choose to receive new posting in your email, or check their website throughout the week.

With different methods, such as looking online, checking paper ads on bulletin boards, and driving through the student area right after final exam time in the spring, you should be able to find several free items.  The savings will be more if you get an expensive item for free (assuming you were going to buy it otherwise) like a dresser or a coffee maker.   But even little freebies can be welcome if you do not have to travel too far to obtain them.  I have received clothing via Freecycle (for myself and more recently, my children), a curtain rod (perfect size too!), some books, and some plants.  Unfortunately,  I discovered Freecycle after my home was well-furnished; I still donate quite a bit of stuff through it and through Kijiji though, specifying that picking up the item(s) is necessary. 

Just remember that if you can be a bit patient, you may be able to obtain many of your wish-list items for free.

Are Your Bad Habits Wrecking Your Budget?

At some point, I had two part-time jobs, one in the morning and a different one in the afternoon.  With about 45 minutes between the two and a short commute, I would often stop at a fast-food joint during my break.  This (bad) habit not only was not bad for my health, but it also did serious damage to my weekly budget.  Like mine, there are many bad habits that may seem small at first glance, but can accumulate large holes in a tight budget.  Here are some examples:

- Coffee: even a cheap coffee at Tim Horton’s is at least $1.60 each time.  At only three times a week, it’s already almost $5/week…. how much would that be at home? less than 50 cents per week.

- Going over on your cell phone plan limit: it often seems like answering a call or making one is a necessity.  However, many of the calls we make are either non-urgent, or non-important.  Just today, I texted a friend to know if she wanted a shirt I had received but was in a color I didn’t like.  I could have called her from my home line (we have one); I could have emailed her.  Certainly, her answer was not urgent – I was not in a rush to get rid of the shirt, and my friend was not in dire need of an extra shirt.  Keep your cell plan basic, and use free communication methods for anything that is not urgent.

- Snacks: you are hungry going to class but you are late so you don’t make breakfast and buy a pastry first chance you get; or you didn’t think you’d stay on campus this late, and didn’t pack enough food.  Buying instant snacks can be expensive.  The solution is to plan better, and to have emergency snacks in your bag: granola bars; an apple; fish crackers.  Even stopping at the grocery store to pick up a bag of mini-carrots, crackers and cheese will be cheaper to a meal on campus AND will provide more than one meal.  The same is true of your water bottle or your coffee mug; if you leave your drinking container at home, having a drink of water next to you will cost you.  Make sure a water bottle is part of your normal pack at school or wherever you go.

- Forgetting your bus pass: if you use the bus to commute but keep forgetting your bus pass, or you leave your bus pass (or student card if that is your bus pass) at home thinking you won’t need it, you are most likely going to have to pay for the bus if there is a change of plan.  Tie your bus pass to your keys or to your cell phone so you always have it with you.

- Chucking tubes and bottles before they are completely empty: yes, it’s a hassle to get the last drops of shampoo out of the bottle, but if you take the time (add water, shake a lot, and use) for every bottle of every product you use, you will save the equivalent of a full bottle each year or so.  This goes for most beauty products (yes, that last bit of toothpaste too), most soaps (including dish detergent), and the last crumbs of cookies.  I cut in half the tubes of hand lotion and find that there’s a full 3-8 applications left in the tube, holding on to the sides (you can close the tube once it’s cut by inserting one half into the other half).  You can most likely use the disposable razor one or two more times before throwing it out.

- Returning your library books late: I am guilty of this, especially that once in a while, I misplace a library book so even though I’m not forgetting to return it, I can’t return it on time since I can’t find it in time.  I’m trying to find a system that works well for our family, such as having a bag where all books go as soon as we are done reading them, but it’s a struggle (however, I know my library fees are lower than the cost of the all the books we get to read for free so I’m in the clear).  I often spend $20+/year on library late fees.

Of course I could go on and on about habits and how they cost us extra money but you get the idea.  Once way to identify these bad financial habits is to track ALL spending for a week (just write it down in your daily planner) and review what can be eliminated or at least reduced.  I’ve made rules with myself: I do not go to fast-food outlets alone (only with a friend, and then it’s an ‘outing’ that I appreciate); I keep snacks in my desk at work so I never have to go out for a snack; etc.  Find your own bad habits and fix them.

Buying Clothes

Let’s say you need to buy some clothes.  Spending little is the goal here, although making sure the clothes is useful is also very important.  Spending a few tens of dollars extra is worth it if it means having a warm winter jacket that will be comfortable for you during the coldest months.

First, before you run to the mall, ask yourself if you can buy the item in reasonable shape at a second-hand store.  There are many used clothing stores in most towns and cities; between the Salvation Army, Goodwill, Value Village and a few more upscale stores, you should have plenty to choose from.  If you are hesitating about buying something someone has worn before, remember that clothing in a ‘regular’ store has probably been tried on (so worn for a few minutes) by a few people too!  My friends and I used to visit Goodwill stores in different towns we’d visit; it was always a challenge to make a big ‘find’: a vintage dress, an amazing deal on a winter jacket, a silk T-shirt that feels like a dream.

Here is a clothing philosophy: only buy clothing that is easy to care for; no dry-cleaning, no hand washing (except for pantyhose – see below), no ironing (I hate ironing).  As well, spend more for items you will wear a lot, less for items that will only last a season because of the style, or because it’s for a special event.  A cheaper formal dress makes sense since it only needs to last one evening; a sweatshirt may be worn 3-4 times/week, so buy one that washes well or it will not last more than a few months.  This works as well for shoes: splurge on good quality running shoes if you run, but not on a dressy pair of pumps for one night.

When buying expensive items, we buy neutral color and cut: jeans, dressed pants, dressed shirts, jackets and coats will ‘last longer’ if classic cuts are purchased because they will survive trends, but also we won’t get tired of them as easily.  I recently bought a down jacket for the cold and although the light blues seem attractive, I choose a navy one because it will not show stains as easily and I can match it with a multitude of different scarves and hats.  As well, when buying a more expensive item that is not immediately needed (if your boots are not leaking water), look for sales and plan for annual sales: most items are severely discounted at the end of the season – bathing suits are cheap to buy when autumn clothing comes out; winter coats after Christmas.

Panty-hose are very fragile so they don’t last very long.  I found that buying larger sizes means I need to stretch them less, and therefore they don’t rip as fast.  I’m a size small, but buy size large for panty-hose.  The same can be done with thick tights; although just one size larger is enough (otherwise they look too large): buy medium if you would wear small.  I found out the hard way that ‘non-run’ panty-hose are just that: they won’t run if there is a rip, but you can still rip them if you have nails and are careless when putting them on!  Of course once you have panty-hose, washing them by hand is more gentle on them, as well as putting lotion on your hands before putting the hose on (dry hands can be rough on fragile thread).  And if all these ideas didn’t work well and you have a few pairs of ripped ones, they work wonders under a pair of pants for extra warmth in winter (and nobody seems them!).  If this seems like a lot of work, you can simply save dresses for weather when you can go barefoot!

Finally, remember that being a poor starting student is temporary, and so is the casual clothing style.  Enjoy both!

Jobs That Will Help You Get Your Dream Job

I’m going here on the assumption that your dream job is why you are in school now; if I’m wrong, either I’ve missed something (please enlighten me!) or you are studying in the wrong program.

Working as an ASSISTANT to your dream job is a great training ‘program’ in which you get paid, earn experience, and test out whether this is really what you want to do.  The experience is what is getting you a step closer to your dream job, so get a reference letter before you leave (or right after).

If you can work as a RESEARCH ASSISTANT for a professor who teaches a class that is very important to your degree, you are receiving acknowledgement (for you and whoever will read your resume later on) from an expert in the field that you are so good in this area that you are wanted for work.  Approach professors in the winter term (yes, now) for a summer position; it may also lead to part-time work comes the fall.  In a similar fashion, there exist many student-work programs where the university-bursary program funds part of your salary and a professor or research lab funds the rest of your salary; this works well because the lab is more likely to hire you since they get you at a discounted salary and you get to work in a field you like.  Most of these are part-time during the school year.

Work at almost any job in the INDUSTRY you are interested in.  For example, after your first year of engineering, you are not likely to be hired to work in an engineering firm as a designer; however, can you replace clerks going on vacation during the summer? This will get you a foot in the door, prove to the employer that you are willing to work your way up (and are not so full of yourself that you only want a top job), and make a summer job a great learning experience as how other parts of the industry you will most likely work one day function.  If you are pre-vet (doing the mandatory undergrad before going to vet school), working at a pet shop, at a dog grooming salon (even if you want to specialize in large animals), or a kennel is a proof to future employers (and vet school) that you are committed and focussed on this goal.

Work in an industry connected to your MAIN FIELD of study. If you want to do math research, working in an accounting firm is not where you want to work.  However, it’s related and that gives you two advantages: 1. maybe you’ll find accounting a lot of fun and if you decide not to complete a PhD, you may decide to retrain as an accountant and 2. it shows that you can work in the general field of math.  Same deal if you work at a science day camp: 1. you may find that teaching science (and math) is fun and you could decide on a change of career and 2. you show that you can explore and teach (and therefore train another) in the general field of math and sciences.

If you are studying anything related to business, working in retail will teach you a lot and look great on your resume; moreover, these jobs are the easiest to get as a student AND you can work part-time during the school year as well.  My sister worked for a few years in a chain restaurant, moving from cashier to manager of the employees.  She learned to work as part of a team, to budget, and to lead.  After her degree in marketing and business, she started working at a bank and quickly moved up to manager, surely thanks to her great previous experience.

Many coop programs are designed that way: you work some terms and study others, but at the end of your degree, you already have experience in your field and fantastic connections to a few companies who may choose to hire you.  In teachers college, the practicums are included in the program.  However, if you are doing a degree beforehand, working at camps or before and after-school care will earn you ‘bonus points’ on your application.  As well, good references from your practicum mentors will help you get the job you want.

While every job opportunity is not the most financially-wise, it ‘pays’ to look beyond the salary.

Using Leftover Food

Left-over foods that you would normally throw out are like free food if you can re-purpose them.  Here are two examples from my own kitchen.

Broccoli Stem Soup

I don’t really like eating the stems of the broccoli; when I cook broccoli, I just like to eat the smaller ‘twigs’ and the florets of the broccoli. The large ‘trunks’ of the broccoli can be tough.  However, I found a way to use them that is delicious: broccoli stem soup. 

First, ‘peel’ the broccoli stems to remove the tough outer skin.  Chop the peeled stems in small pieces.  Heat up approximately 3-4 cups of water in a pot.  Before it starts boiling, add a pouch or cube of chicken or vegetable broth concentrate. Add the broccoli pieces and let simmer until the broccoli is soft.  Take the pot off the heat and, using a stick blender, puree the broccoli and broth together.  Put back on the heat and add roughly 1-1.5 cup grated cheddar cheese (any kind you like; you could probably use Cheez Whiz if you wanted).  Let the cheese melt, stir well, taste and adjust seasoning (salt and pepper to taste).  Et voilà, great homemade soup!!

Crumb Muffins

This is a great recipe that uses cereal, cracker and cookie crumbs, or any combination of these.  Whenever you have a few bits of cereal at the bottom of the box or bag (you know when the cereal becomes like a ‘powder’ at the end) or cookie or cracker crumbs, pour them inside a plastic jar or container and seal it.  When all the crumbs together reach 1 cup, you are ready to make muffins.  Do NOT use bread crumbs, cake crumbs, or anything soft or moist crumbs (I tried, it doesn’t work).

First, soak the 1 cup of crumbs in 1 cup of milk, until the crumbs are soft and have absorbed the greater part of the milk (15 + min; you can do this in the fridge and leave for the day).  Add 1 cup of flour, ¼- ½ cup of sugar ( ¼ if using cereal or cookies; ½ if mostly crackers), 1 egg, ¼ cup vegetable oil, and 2 tsp baking powder.  Now, add some ‘bits’: ½ cup chocolate chips, ½ cup raisins, or ½ cup of nuts.  Also add a flavour: 1 tsp vanilla or ½ tsp cinnamon, or 1 tbsp coffee syrup.  Grease a 12-cup muffin mold (or use paper cups in the muffin pan) and fill to 2/3 each muffin holder.  Bake at 375⁰F for 20-25 min.  Remove from the oven and let cool 10 min before removing from the muffin pan.  Enjoy!  These can be very healthy if you use healthy cereal crumbs for your base and they freeze well.

Shopping Is NOT a Hobby

Got a bad grade on an assignment? buy a CD to feel better.  Get a good grade on a lab report? treat yourself to a new sweater.  Having a bad day? a designer coffee will fix everything. 

Is that how you behave? No wonder your finances deserve a D.  Shopping is NOT a hobby, nor is it ‘therapy’ (the myth of ‘retail therapy’ is just that, a myth).  Shopping, when you live on a tight budget, should be only done when items are needed (and the fewer the trips, the more you will save on time; the fewer the trips, the fewer the number of temptations for buying things outside your budget).

If you feel good, find a fun and cheap way to celebrate.  For one thing, you already feel good, so you don’t need anything else to make you feel good.  So enjoy a good book and a break from studying.

If you feel bad, let’s look at the cause and, independently, how to feel better.  I’m not talking about curing clinical depression – that needs much more than a good coffee, or a pep talk.  Depression is a disease, NOT a state of mind that people need to snap out of.  However, if you feel blue, a bit melancholic, it isn’t spending that will make you feel better.  There are several studies that have shown that activities that make us feel valuable are one of the most effective ways to feel good and happy.  I remember, as a grad student, feeling lonely when my boyfriend had to work for weeks at a time at a project out of town, including weekends.  So I found some volunteer work to do, and at the end of my shift, I felt I had made a (small) difference in the world and I went home happy. 

Find your happiness outside the mall.