Let’s Talk Money: Expenses

Expenses are items you must pay for on either a one-time or ongoing basis (e.g., monthly, or yearly), such as housing, food, tuition, books, computer or other equipment, clothes. Links in this section may help you think about the different kinds of expenses you have, and ways you can reduce expenses from month to month.

Types of Expenses

Here are some costs to consider when creating your list of expenses for your budget. Individual expenses may vary based on your personal circumstance.

Living Expenses

Estimating all of your costs will help give you an idea of the budget you will need. Review this comprehensive list of potential costs as you plan your budget and add in the amounts that apply best to you.

Tuition & Fees

The amount of tuition you pay depends on factors such as your program and year of study, course load and campus. View the fee schedule for your program of study and include it in your budget.

Food & Grocery

There are ways to save on grocery shopping. For example, shopping with coupons, or using an app like FLIPP, will show items on sale for the week.

It can be daunting living on your own, having to grocery shop and cook.  The University of Toronto Student Union (UTSU) provides information about healthy eating, shopping and budgeting.

Housing

This source provides useful local information about housing costs in the Greater Toronto Area (GTA), links to find your own housing, and things you should know about renting in the GTA.

Learn more about managing your money. Check out these topics.

BUDGETING


Manage your money to better understand where you stand, and minimize your money-related stress.

CREDIT


Credit is money that you borrow, with the understanding that you will pay it back. It can help cover some of your costs, as well as accrue points to help you further.

AWARDS


Think: scholarships, loans, government grants, and UTAPS. Money which can be worth applying for.

EXPENSES


Understanding your expenses will help you gain a bigger picture of your budget, and how to help with your financial stability.

WORK


Have you heard of the Work Study Program? Or Experiential Learning? You’ll find opportunities through here.

DEBT MANAGEMENT


Manage your debt can set you up for future success. Find resources about debt, and things to consider.

WAYS TO SAVE


Student discounts! Savings on TTC, entertainment, and more. Check out all of these awesome ways to save.

TAXES


Taxes do not need to be scary. Need help with understanding or filing your taxes? This is where you need to be.

OTHER RESOURCES


Find workshops, videos, and extra resources curated just for you.