Studying in Canada is exciting, but let’s be honest—money is always part of the story. Tuition is high for international students, housing prices in cities like Toronto or Vancouver are daunting, and even groceries can feel expensive if you’re not used to Canadian prices. It’s easy to feel like your bank account is shrinking faster than you can refill it.
That’s why budgeting isn’t just a “nice idea.” It’s survival. And more than that, it’s about building a student life where you don’t constantly stress about every dollar. Below are ten practical tips—tested by countless students before you—that may help stretch your money further. Some are obvious, some are a little unexpected, but all are worth considering.
1. Track All Your Costs, Not Just Tuition
When universities advertise tuition fees, that’s only part of the picture. International students in Canada also face housing, utilities, transit, food, textbooks, phone bills, and sometimes health insurance.
One of the best budgeting tips for international students is to track your actual monthly expenses, not just the “official” numbers listed online. Apps like Mint or YNAB (You Need a Budget) are popular, but even a simple notebook works. After a month, you’ll see patterns—like how late-night Uber Eats orders quietly drain your budget.
Being aware is half the battle. Once you know where your money is going, you can start plugging the leaks.
2. Find Affordable Student Housing in Canada
Housing is usually the biggest cost for international students. A one-bedroom apartment in Toronto can cost over $2,000 per month, while a room in a shared apartment might be under $1,000. Vancouver is similar, and even smaller cities are getting expensive.
For most students, shared housing is the cheapest option. You might live with two or three roommates, which isn’t always glamorous, but it cuts rent dramatically. Check websites like Places4Students, Kijiji, Facebook Marketplace, or even your university’s housing office.
Another overlooked option is student co-op housing. These are community-style residences where everyone shares responsibilities, and rent is usually much lower than market rates. They’re especially common in cities like Toronto, Montreal, and Ottawa.
3. Cook at Home to Save on Food Costs
Eating out in Canada adds up quickly. A fast-food meal might be $12, while a restaurant dinner easily hits $25–$30. Compare that to cooking at home: $50 worth of groceries could feed you for several days.
Stock up on affordable staples—rice, lentils, pasta, beans, eggs, and frozen vegetables. Grocery chains like No Frills, FreshCo, Walmart, and Superstore are often cheaper than smaller specialty stores. If you’re in Toronto or Vancouver, you’ll also find Asian and South Asian markets with better prices on certain items.
Tip: Cook in bulk. A big pot of curry or chili can last three or four meals, and you’ll spend less time cooking during busy study weeks.
4. Use Student Discounts Everywhere
One of the easiest ways to save money in Canada is simply to ask: “Do you have a student discount?” You’d be surprised how many businesses say yes.
International students can often get reduced prices on:
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Public transit passes (U-Pass or discounted monthly cards)
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Movie tickets
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Software like Microsoft Office, Adobe, or Spotify Premium
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Museums, galleries, and cultural events
Some phone carriers even offer cheaper “student plans” in September. Carry your student ID everywhere—it’s basically a money-saving card.
5. Rely on Public Transit Instead of a Car
Owning a car in Canada might seem appealing, but for students, it’s usually a financial trap. Insurance alone can cost $200+ per month, and that’s before gas, maintenance, and parking.
Public transit is much more affordable. Many universities include discounted transit passes in tuition fees. In places like Montreal (OPUS card) or Vancouver (U-Pass BC), students can ride unlimited for a flat monthly rate. If you’re commuting daily, this is far cheaper than paying per trip.
And yes, transit isn’t perfect—buses get delayed, trains get crowded—but it’s still the budget-friendly choice.
6. Buy Secondhand Textbooks, Furniture, and Electronics
New textbooks in Canada can cost $200–$300 each. Instead of buying from the campus bookstore, look for used copies on Facebook Marketplace, Kijiji, or even Amazon. Some students resell books directly through campus clubs or online forums.
The same goes for furniture. In student-heavy neighborhoods, you’ll find secondhand desks, chairs, and kitchen supplies for cheap—sometimes even free if you’re quick. Just be cautious with mattresses (bedbugs are a real issue in big cities).
Bonus tip: Resell your own items when you’re done with them. That $80 textbook can turn back into $40 at the end of the semester.
7. Work Part-Time Jobs for Students in Canada
International students in Canada can usually work up to 20 hours per week during classes and full-time during breaks. Part-time jobs help cover everyday costs and may even give you networking opportunities.
Popular student jobs include:
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On-campus positions (library assistant, teaching assistant, research jobs)
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Café or restaurant work (free meals often included)
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Retail jobs (student-friendly schedules)
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Tutoring, especially if you’re strong in math, science, or languages
If possible, pick a job that either boosts your career skills or comes with perks. A shift at a clothing store with a staff discount may save you money in two ways: wages plus cheaper clothes.
8. Understand Canadian Health Insurance for Students
Healthcare in Canada is public, but international student coverage depends on the province. For example:
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In British Columbia, students must enroll in the provincial plan (MSP).
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In Ontario, international students usually need private insurance provided by their university.
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In Alberta, many students are eligible for the public plan.
It’s crucial to know what’s included. Basic plans may not cover dental, vision, or prescriptions, so you might need to budget separately for those. A small monthly premium is far better than facing a surprise $1,000 medical bill.
9. Avoid Hidden Bank and Currency Exchange Fees
Many international students rely on family money transfers. If you’re not careful, banks take a big cut through poor exchange rates and transfer fees.
Instead, explore cheaper options like Wise (formerly TransferWise), Revolut, or Remitly. These platforms usually offer better exchange rates.
Also, open a student account with a Canadian bank. RBC, TD, CIBC, and Scotiabank all have student packages with no monthly fees, and some even include perks like free credit cards or gift cards for new accounts.
10. Budget for Fun (Yes, Really)
It may sound strange to include “fun” in a list of budget tips, but it’s important. If you cut out every social activity, you’ll burn out and end up overspending later.
Set aside a small “fun budget.” That could mean $30 for a movie night, or one meal out with friends each week. Some students even create a separate “joy fund” account just for this purpose.
The key is balance. Living in Canada as an international student is not just about survival—it’s about experiencing the culture, traveling to nearby cities, and making memories. A little budgeting flexibility helps you enjoy the journey.
Final Thoughts on Budgeting in Canada
Managing money as an international student in Canada is not always easy. Housing is expensive, food costs are rising, and tuition isn’t getting cheaper. But with some planning and a few smart strategies, you can avoid financial stress while still enjoying your student life.
These top 10 budgeting tips—finding affordable housing, cooking at home, using student discounts, relying on transit, buying secondhand, working part-time, understanding healthcare, reducing banking fees, and setting aside money for fun—are simple, realistic steps anyone can take.
At the end of the day, the “best” budget isn’t the strictest one. It’s the one that helps you pay your bills while leaving room for friendships, travel, and the experiences that make studying in Canada worthwhile.