5 reasons to buy life insurance—right now + MORE Aug 21st

If you’re working to improve your financial situation, a few strategies may come to mind: paying down debt, building an emergency fund, investing inside a tax-free savings account (TFSA) or a registered retirement savings plan (RRSP), or putting your money in other savings vehicles. These are all important elements of a strong financial plan, but there’s another piece of the puzzle that is often overlooked: having life insurance.

“People who decide to put insurance in place typically have looked at their financial situation, often with the help of an advisor, and identified risks that they are uncomfortable with and want to address,” says Randy Little, a Certified Financial Planner with Desjardins Financial Security Independent Network in Ottawa. 

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Let’s face it—life as a student can be challenging. You have to pay for tuition and textbooks (and housing, food and more for those not living at home); combine that with not having a full-time income, and the need for extra money is real. If you don’t want to feel constantly strapped for cash, consider these tips to make some dough, keep spending in control, crush your savings goals and tackle student loan debt early.

How to make money as a student 

Here are several ways you can earn some extra money on the side while juggling school.

Pick up a part-time job

One of the most common ways to access extra money is having a part-time job. Consider working in retail or at a restaurant, or getting a seasonal job, where you can work at a tourist attraction or resort. Having a summer job is a great way to obtain professional skills while enjoying time off of school and having a lighter course load. 

When I was in university, I worked on campus as a teaching assistant and a research assistant…

I’m currently paying off some credit card debt and was wondering if I could apply for a line of credit to consolidate my debt at a lower interest rate and reduce my monthly payments. Is this a smart idea? —Nicole

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