In partnership with the Canadian Foundation of Economic Education (CFEE) and the National Bank, our Sault College School of Business and Sault College Students' Union (SCSU) are offering free financial workshops to Sault College students with Help! Managing Your Money on Campus.
The workshops are designed to help support students with comprehensive financial education modules. This is so important, and timely, because more than ever we live in a complex financial world where you experience financial costs, responsibilities, planning, spending, debt, credit cards, and much more. And, that's exactly why CFEE and National Bank have partnered with Canadian universities and colleges to help equip students with the information they need to take on all of life's financial challenges!
Learn more below about the two workshops available to Sault College students:
- Understanding Personal Income Taxes
- Financial Matters Affecting International Students.
Understanding Personal Income Taxes
You will be able to better understand how Canada’s personal income tax system works and how to have more control of your money to lower your financial stress level and increase your financial well-being.
The workshop will cover:
- Canada’s tax system - the more you make the more you pay, both in terms of dollars of income tax but also the percentage of your income
- Tax returns for students – deductions and credits available
- Tax strategies - ways to reduce taxes payable and keep more money in your pocket
Learning outcomes:
- A better understanding of how to minimize taxes as a student by being aware of tax deductions/credits
- Be aware and be able to take advantage of tax efficient government savings programs
- Know how different sources of investment income are taxed quite differently.
50% of students have difficult generally knowing how to manage finances*
57% of students are looking for help preparing and working with a budget*
Financial Matters Affecting International Students
You will be able to better understand how setting goals can lead to more financial security, how Canada’s tax system works and receive tips to help with your spending and let you take more control of your money.
The workshop will cover:
- Goal setting - how you can do it the SMART way and how you can apply goals to your life especially when creating a budget.
- Budgeting and spending – where to control your spending and ways to save your money as an international student
- Taxes - learn the basics of the Canadian tax system and what you need to know about filing your taxes as international students
Learning outcomes:
- A better understanding of how setting goals can help lead to more financial security
- Different methods to budget, some spending tips and how savings need to be a key component of a budget.
- A better understanding of Canada’s tax system and possible ways to invest more tax efficiently
*Based on a survey of Canadian students in the first half of 2020 by CFEE and National Bank asking about their priorities for 2020 and what they want to learn more about.