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B.C. students warned to stick to budgets

Aug 4, 2015

Students can access this free budget calculator at zippitydodog.com to help keep school spending on track.

http://www.zippitydodog.com/dinkytown/student_budget.php

B.C. students warned to stick to budgets

Financial advisors are warning British Columbia's students moving out on their own for the first time to stick to a budget, as figures reveal B.C. leads the country in consumer debt levels.

While the average consumer in B.C. is shouldering debt of $37,000, the Financial Consumer Agency of Canada estimates the cost of a four-year degree in terms of rent, food and other expenses is more than double this amount at $77,000.

Diane McCurdy, a financial planner in Vancouver, recommends students keep a tight rein on their finances.

"You have to really guard your money jealously, manage it carefully and if you come out of university with as little debt as possible, it's such a big leg up," she said.

McCurdy encourages students who take loans to only spend the money on education-related expenses.

With files from the CBC.

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