Amanda, A Working College Student
Amanda goes to college downtown and works uptown as a waitress. Between school supplies, transportation, hanging out with her friends and shopping for groceries and other necessities, she is focused on the present but is positioning herself to be able to look forward to owning a home in the future. Amanda has taken out a student loan to help her with her studies but to avoid borrowing too much, she works to pay rent and earns $1,000 each month.
June 2010
Amanda Discovers Chequing Account Convenience
Amanda is in college and working part–time as a waitress. She lives with roommates and shares in the responsibility of domestic bill payments. Because she’s not around the apartment very much, setting herself up with a Campus Chequing Account has made all the difference in convenience for her. Conducting transactions has also become less expensive. With no monthly maintenance fees, unlimited debit transactions, surcharge-free use of ATMs on the EXCHANGE® Network and much more, she feels confident that she’s not getting charged for every time she needs to write a cheque or set up a withdrawal. Amanda also signed on to telephone and online banking access when she opened the account and arranged for direct deposit of her pay. The less running around she has to do, the better. Now Amanda pays her bills on time, hassle free with no additional fees.
See other student account options.
April 2010
Amanda's Mortgage Strategy to Suit Her Lifestyle
Amanda knows she is a few years away from being able to obtain a mortgage, but wants to take command of her spending. Aside from her student loan, Amanda has some credit card debt that she would like to reduce. She decided on a consolidation loan that allows her to take all the high interest payments and reduce them to one single payment, at a lower amount and lower interest. With her Invest the Rest Savings Plan still in place, she will even be able to top up those payments on an annual basis.
February 2010
How Amanda Saves with Her Invest the Rest Savings Plan
Amanda has taken out a student loan to help her with her studies but to avoid borrowing too much, she works to pay rent and earns $1,000 each month. Durring the 4 months she has off in the late spring and summer, Amanda is able to work full time but finds that she spends more too. To help her stick to her savings goals she signed on to the Invest the Rest Savings Plan and was able to make the next school year a little easier. This is how she did it:
Chosen rounding increment per transaction: $2
Saves between $35 and $40 each month
At the end of one year Amanda has saved $435
How Amanda allocated her savings:
With the full time hours she worked during the summer Amanda was not only able to save enough to pay much of her monthly rent for the following school year but she was able to treat herself with a spring break getaway with her school friends.
