When I first thought about budgeting, all I could picture were limitations, restrictions… handcuffs, honestly.
Who has time to think about money when you have class till 10 p.m.?
Learning how to manage your finances can feel overwhelming — especially if no one ever really taught you how to feel comfortable checking your bank account in the first place. Gaining independence sounds exciting, but it also comes with moments of discomfort, confusion, and yes… sometimes embarrassment.
These are a few things I started doing in university that helped me feel more in control of my money — without sucking the fun out of student life.
Get Comfortable Looking at Your Bank Account
We all know it’s easier to tap your card than it is to open your banking app and look at what’s actually inside.
But both matter.
If the thought of scrolling through past transactions makes you anxious, you’re not alone. I’ve been there. Independence comes with a learning curve, and sometimes that includes realizing you spent $50 at cafés in one week without even noticing.
And that realization can sting.
The goal isn’t to judge yourself — it’s to build awareness. Knowing how your money moves is the first step to managing it properly.
If this is your first time budgeting and you don’t know where to start, don’t overcomplicate it. Using a free, pre-built budgeting template — like the ones offered by Microsoft Excel — can make the process way less intimidating. You’re not starting from a blank page, and as a bonus, you’ll get more comfortable using Excel.
If you’re more of a listener than a spreadsheet person, podcasts can be an easy entry point. Young Money with Tracey Bissett is made specifically for students, new grads, and young professionals trying to get a grip on real-world finances. It breaks down budgeting, investing basics, and entrepreneurship in a way that actually makes sense — no guilt, no shame, just practical advice you can apply right away.
If you’re a McGill student, the Financial Literacy Centre is a great resource. Talking about money can feel intimidating, but these centres exist to support students — not judge them. Learning how your money works for you makes everything else feel less scary.
“We Have Food at Home”
Speaking of that $50 coffee habit…
Small purchases like coffee runs, food delivery, subscriptions, and sweet treats add up faster than we realize. And listen — I am fully on board with ending the shame around ordering Uber Eats.
But every second day? That may be a sign you have a slight problem…
This is hard to admit, but Uber Eats was the death of me in university. Not because I didn’t know how to cook — I was just lazy (lol). Waiting in the doorway while the driver called out “Bobby?” with a bag of Taco Bell for five people was humbling, to say the least.
The same goes for subscriptions. Beyond the obvious ones — Netflix, Prime, Disney+, Crave — there’s also ChatGPT, Notion, Canva, Apple Music (or Spotify, depending). You will never fully escape subscription life, but you can decide which ones actually add value to your academic and personal routine.
While writing this, I found an article from Maclean’s really helpful. It breaks down what students are actually spending their money on, and seeing those patterns laid out is oddly grounding. Maybe you relate — maybe you don’t — but at least now you know. And knowing is kind of the whole point.
The top 5 things I spent my money on in University:
- Food — groceries + a lot of Uber Eats.
- Social life — cactus club happy hour (I miss you).
- Clothes — no explanation…
- Books & academic materials — an unfortunate must.
- Subscriptions & small conveniences — Apple Music student plan, Uber One, and other “it’s only $5” expenses.
Honourable mention: the gym. I didn’t spend extra on the gym because yoga and gym access were included in my student fees — one of the few line items I actually used (and loved). A good reminder that you’re paying for more than you think… whether you use it or not.
A tip that applies to both eating out and subscription overload: student discounts.
I took full advantage of Uber One for students and the Apple Music student plan. Sometimes it feels like a workaround to get the discount — but come on, you’re getting a degree. You can figure it out.
FOMO Is Real (But It Doesn’t Run Your Life)
Okay — maybe this is a bit of a fib. FOMO definitely exists.
But it doesn’t have to dictate your spending.
You don’t have to go out every weekend. And you definitely don’t have to go out every day of the weekend (there are only two — let’s relax).
There is absolutely no shame in staying in. Student housing communities like Palay make that easier by offering shared amenity spaces you already have access to — movie rooms, gyms, outdoor spaces, and study rooms. When I lived at Palay, I took advantage of the amenities (especially the movie room). It also made me realize how many of University Apartments communities across different cities offer the same kind of benefits — and how underrated that actually is.
Are these spaces always as aesthetic as the new café you keep seeing on TikTok that you need to study at? Maybe not.
But they are free.
Well… kind of.
But girl math applies.
Social media has a way of making it seem like everyone else is doing more, spending more, and living louder than you are. But social media isn’t real life.
So go watch a movie in the movie room. I won’t tell if you won’t.
The Bigger Picture
Managing your money in university is really about understanding — and accepting — that you won’t be able to do everything you want to do right away.
And that’s okay.
You’re not behind. You’re not failing. You’re exactly where you’re supposed to be. University is an investment in your future, and sometimes that means making short-term sacrifices so long-term goals are possible.
That’s what your twenties are for — learning, adjusting, and figuring it out as you go.
Resetting your relationship with money doesn’t mean restriction. It means awareness, balance, and choosing what actually supports your life right now.
See you next week,
Liv
