How to Save Money in Canada as an International Student

Studying in Canada is exciting—but the cost of living, tuition, and fees add up fast.

A few smart moves early on can make the whole experience way less stressful.

Start With a No Fee Account

Having a simple, predictable account makes it easier to manage your money in a new country. That’s where KOHO Essential can help:

• It has a low monthly plan fee that can be waived when you set up direct deposit or add +$1,000.

• Use a prepaid Mastercard® for groceries, bills, subscriptions, and travel.

• Grow your savings with a 2% interest savings rate on your entire balance.

• Earn 1% cash back on groceries, eating & drinking, and transportation.

• You can subscribe to Credit Building for $10/month, it's an affordable way to build your credit history.

• Enjoy unlimited transactions and free e-transfers (never worry about fees when sending money to someone again).

1. Build a Simple Student Budget

• List your fixed costs: rent, phone, transit pass, insurance, tuition payment plan.

• Estimate your variable costs: groceries, eating out, fun, shopping.

• Set a weekly spending limit and track everything in an app so you don’t guess where your money goes.

Even a rough budget is better than none.

2. Save on Housing and Utilities

• Share a place with roommates instead of renting solo.

• Look slightly outside the city core if transit is good.

• Split internet and streaming instead of everyone paying for their own.

Small housing decisions usually have the biggest impact on your monthly costs.

3. Cut Food Costs Without Suffering

• Cook most of your meals at home; save eating out for special times.

• Buy staples (rice, pasta, beans, frozen veggies) in bulk.

• Look for student discounts at grocery stores or use flyers and apps to catch sales.

Try doing one big weekly shop instead of lots of small, random runs.

4. Use Public Transit and Student Discounts

• Get a student transit pass if your city offers one.

• Take advantage of student pricing for museums, events, movies, and software.

• Walk or bike for short distances to cut down on rideshares.

Your student ID can save you more than you think—always ask.

5. Be Careful With Debt

• Avoid high interest credit cards and payday loans if you can.

• If you do get a card, pay off the full balance every month.

• Focus on building a small emergency fund so surprises don’t push you into expensive borrowing.