Leaving your community for school or work is one of the biggest transitions you'll make. There's a lot happening at once — new city, new people, new routines — and money is part of all of it.
This isn't a lecture about being responsible. It's a practical guide to avoid the common traps and start strong.
Before you leave
- Open a bank account if you don't have one. You'll need it for everything — rent, groceries, tuition payments. Set this up at home while you have your ID handy
- Understand your funding. If your band is funding your education, know exactly what's covered (tuition, living allowance, books, travel), when payments arrive, and what happens if there's a gap
- Get your documents together — Status card, provincial health card, SIN, birth certificate. Keep copies of everything in a secure place (a photo on your phone works)
- Know your Section 87 status. Once you're living and working off reserve, your income is generally taxable. This changes your financial picture
Beyond band funding, check Indspire (the largest Indigenous scholarship program), your school's Indigenous student services office, provincial programs, and private foundations. Many go unclaimed every year because people don't apply.
Your first budget
You don't need a spreadsheet. You need to know three numbers:
- What comes in each month — band funding, scholarships, part-time work, family support
- What's fixed each month — rent, phone, internet, transit pass
- What's left — this is what you have for food, supplies, and everything else
If number 3 is tight, that's normal. Most students are working with slim margins. The goal isn't to save — it's to not run out before the next funding payment lands.
Plug in your numbers and see your money picture in a few minutes. Open the Budget Tool →
Textbooks — can be $500-1000+ per semester. Check the library, buy used, or ask professors if older editions work. Many courses now use free online materials.
Damage deposit — usually one month's rent up front, plus first month's rent. Budget for this before you move.
Winter gear — if you're moving somewhere colder than home, a good winter jacket and boots are an investment, not a luxury.
Food costs — cooking is dramatically cheaper than eating out or campus meal plans. Learn 5 meals you can make. Rice, beans, eggs, and frozen vegetables will carry you far.
Travel home — this adds up fast if you're far from home. Budget for it or look into whether your funding covers travel.
Credit cards and debt
Banks will try to give you a credit card. Credit cards aren't evil, but they are designed to make spending easy and paying hard.
- If you get one, treat it like a debit card — only spend what you have in your bank account
- Pay the full balance every month. Not the minimum. The full amount
- If you can't trust yourself with a credit card, a prepaid one works for building credit without the risk
- Student lines of credit can be useful but they're still debt — only borrow what you'll actually need
Services like Afterpay, Klarna, and PayBright split purchases into instalments. They feel harmless but they train you to spend money you don't have. Miss a payment and you'll pay late fees. It's debt with better marketing.
Homesickness and money
This one doesn't show up in most financial guides, but it's real. When you're lonely or homesick, spending money can feel like comfort — eating out, buying things, going out with new friends. It's a pattern to notice, not to judge.
Connect with your school's Indigenous student centre. Most have regular gatherings, cultural events, and people who get what you're going through. The sense of community they provide is worth more than anything you can buy.
Filing taxes for the first time
If you're earning income off reserve, you'll need to file a tax return. But even if you're not earning income, file anyway — you'll get the GST/HST credit (a quarterly payment of $300-500+/year), and you'll need a filed return to qualify for many provincial benefits.
Many campuses and community organizations run free tax clinics from February to April. They're staffed by volunteers who can file a straightforward return in 20 minutes. Bring your T4s, tuition receipts, and Status card number.
Last updated: March 2026