The Indigenous Student Centre recognizes the importance of financial wellness programming and is committed to providing students with the knowledge, skills and resources to make confident, responsible financial decisions throughout their life cycles.
We understand that past relationships with money can often cause Indigenous students to feel anxious, nervous or stressed about finances. With busy academic schedules, jobs and family commitments, it's often difficult to devote time to managing money. However, developing financially smart habits during university is essential to achieving future goals.
Did you know?
Many U of M scholarships and awards are automatically awarded (no application) each year based on academic achievement. Be sure to fill out the Canadian Indigenous Self-Declaration form. This will ensure that you are considered for automatic Indigenous-specific academic awards and scholarships.
Free money! Now that we have your attention, there are certain awards at the university that do require an application form. Why not consider applying for these scholarships and bursaries? There is a lot of money out there that often goes unclaimed, so it's worth your time to take a few minutes to apply. It could place thousands of dollars in your pocket.
Congratulations! You have been accepted to university, but now you may be left wondering how you will be able to afford your post-secondary education. The majority of students pay for their education with a combination of funds such as: savings, scholarships, wages and loans. There are several options to explore, be sure to find the one that's best for you. Here are a few to consider.
Understanding your "wants" vs "needs" is an important part of managing your money. Making a budget and sticking to it will assist you with managing your expenses wisely and responsibly. Check out the tools below to help you stay on track.
The link below will provide you with information regarding opening an account, cashing cheques and keeping your money safe.
"Make a budget and stick to it, and don't forget to save some money for emergencies!"
"Never pay full price. Check out local flyers, shop at thrift stores and clip coupons."
"Make your own meals. It's cheaper and healthier than eating out."
According to work by AFOA & Prosper Canada, Financial Wellness is understood by Indigenous peoples to be: "The continuous process of balancing income, saving, investing and spending to achieve one's life goals (physical, emotional, mental and spiritual) over the life cycle, and to maintain a state of wellness for individuals, family and community (Mullholland and Brascoupé 2017)."