Frugal student life leads to brighter future

During her university years Kyra Jessup remembers selling the remaining balance on her food card to fellow students looking for a meal.

Unlike others, at the end of the year, she had $150 to spare. She recalls being moneyconscious even as a child. “I was always the one hoarding money.”

Paying for school can be a challenge, but Jessup’s frugal habits paid off. After graduating she only owed $7,000.

“I guess that’s not bad,” she says with a laugh.

According to Statistics Canada, a post-secondary education does pay off. College graduates earn $7,200 more per year compared to a high school graduate; university degree holders bring in an extra $23,000.

Today, at 29, Jessup has a job she loves, as a community engagement coordinator at a non-profit organization in Halifax.

“Everything I have learned along the way, from journalism to advertising and event planning has benefitted me. I actually use all aspects of my education in my job.”

As a student, she cut costs by living with roommates, getting around on foot and learning to cook.

“I learned how to be creative with food. I couldn’t really afford to eat out, so I bought a deep fryer because I love wings and it’s so much cheaper to make it yourself.”

Jessup warns students against using credit cards, a common occurrence among young people getting their first taste of freedom.

“It’s so easy to spend on credit. With cash you’re more aware of how much you’re spending.”

The web site CanLearn.ca/explore offers a wealth of information on how to plan and pay for post-secondary education in Canada. Overall, Jessup says it was well worth it. “It’s not just the education, it’s the responsibility of being on your own, and figuring out who you are. I don’t think you can put a price on the experience.”