Tucking Away for Tuition

I'm sure I've written a post on saving for college before, but there have been some new developments my life that have inspired me to write yet another post. I was recently accepted to an Ivy League university after spending the last year and a half at a smaller college. I received my acceptance letter yesterday and I can hardly contain myself. But after the excitement subsided, I quickly realized that I have a mere four months to come up with a significant sum of money, yikes! With two planned holidays coming up, and a barrage of other expenses about to come my way, how on earth was I going to swing this? Well, luckily for me, this isn't the first time I've landed myself in this predicament, so it's time get creative.

Carefully Construct a Weekly Budget

I'm really careful with my money, but there are certain funds that get lost in on-a-whim purchases like coffee, clothing, a night out at the movies and things of that nature. Because I don't have time to start up an RESP or Education fund, I have to start making drastic changes in my weekly budget. If you're in a similar boat, set aside an afternoon, grab yourself a calculator, a pencil, copies of all your bills and paystubs and scratch out your entire financial existence down on paper. Include everything from your car expenses, rent, utilities, groceries, toiletries, prescriptions and any other expense you anticipate incurring. Factor in debt-repayment if necessary, and an amount that you are able to set aside for your future.

No Vacation - Opt for a Stay-cation instead! 

Unfortunately, I have two specific trips that are planned for the summer, both weddings that I will be attending, and I won't be able to get a refund. But this news will obviously restrict my budget while I'm in destination. If I didn't stand to lose out on a significant amount of money, I would be staying home and enjoying the city in the summer months. Look, everyone needs a break from life, but taking an expensive holiday is not in your budget if you're going back to school, so opt for a unique experience at home. Go camping, take a small roadtrip, explore your hometown!

Grounding My Wheels

Maintaining a vehicle is expensive and with gas prices through the roof, it makes little sense for me to be throwing my money away on fuel when I have a perfectly good bicycle and a city full of bike lanes! It's better for me, and I'll be giving mother nature a break!

On the Hunt for Money

Finally, while I'm busy squirreling my own funds away, I need to go knock on a few doors to see if I can scrounge up some extra money. I'm talking about applying for scholarships and bursaries. I've always had the attitude of take no prisoners! I will apply to absolutely  every single scholarship I can get my hot little hands on, and then some! Here hopes I make it to September without ending up in the poorhouse!