“Almost every self-help book we have ever forced ourselves to read has been terribly dry and boring. We did our best to ensure that More Money for Beer and Textbooks didn’t turn out that way.”
-Kyle Prevost and Justin Bouchard, co-authors, More Money for Beer and Textbooks.
You’re right guys, it didn’t happen. Well done Kyle and Justin.
More Money for Beer and Textbooks – A Financial Guide for Today’s Canadian Student is an entertaining and well-written manual that gives Canadian students some realistic, honest ways to keep more cash in their pockets as they plan their way towards or work their way through post-secondary education. Today’s blogpost will provide you with an overview of this book and also give you a chance to win your FREE copy.
What to expect?
This book won’t tell you every great beer out there (and there are bunch, trust me) but it will help students better manage their limited finances. Here are a few of the great chapters you’ll read about in this book.
Chapter 1 – How Much Will School Cost…and Is It Even Worth It?
To answer the question, it is worth it but it costs a bunch (up to $80,000 for a four-year degree if you want to live away from home, in residence and use a meal plan). Those costs could be much less if you choose to follow some of the advice by Kyle and Justin in this book.
Chapter 4 – Party Like A Rockstar Student
“If we had taken the money that we “invested” in our favourites brews on campus and had put it in an RRSP, it probably would be about $150,000 by the time we were sixty-five.”
Kyle and Justin, you’re not alone. For those that haven’t been there and done that like the authors of this book (and myself for that matter) they offer some sound advice without spoiling the post-secondary fun that can come along with the academics:
- Partying like a student means figuring out a balance that works for you.
- Partying hard doesn’t have to mean partying expensive.
- Skipping classes is flushing money down the toilet.
- You need to give your body and your bank account the odd day to recover.
Chapter 5 – Gotta Get Away (Student Travel)
If you just have to get away for Spring Break, the co-authors offer some tips:
- Consider being less picky about where you want to go; consider new destinations.
- Look at the websites listed in this book for great travel deals.
- Don’t forget the cost eating out every day; consider going to the supermarket and cooking more of your own meals when travelling.
Chapter 7 – Student Loans…Jackpot! (Not Really)
In this chapter, the co-authors provide you with a complete roadmap for managing your student loan, from the application, to using the funds wisely, to advising you how best to repay the money borrowed.
Chapter 9 – Free Money When You Need It Most (Student Tax Returns)
Something that probably doesn’t get discussed as much as it should, especially for students, is tax preparation and how to optimize your tax refund. This chapter has a host of student-oriented tax deductions to consider. Kyle and Justin also recommend the following:
“We believe students (and everyone else for that matter) should try doing their own taxes at least once, whether it’s on paper or electronically.”
Chapter 12 – Credit Cards and Lines of Credit
While credit cards and lines of credit can throw you off your financial game very quickly, they are not the sole source of evil for students according to the authors. “Much like any other tool, a credit card has perfectly valid uses and can fill a variety of needs for a student.” “Credit cards are not inherently bad. They are a tool that should be used properly but often isn’t.”
Chapter 14 – But I Thought It Wouldn’t Happen To Me (Insurance for Students)
I suspect most students headed to university or college couldn’t care less about insurance, but this is a chapter worth reading. Kyle and Justin outline what insurance is all about, what you should consider while away at school, including contents insurance for a few of your valuables.
The book begins to close out with some final words from the authors about the “real world” after graduation, suggesting not to “succumb to the barrage of consumerism that will be aimed at you in the next years. Companies love to target graduates who are getting their first taste of a steady paycheque and believe they should treat themselves after all their frugal years of study.”
In More Money for Beer and Textbooks, Kyle Prevost and Justin Bouchard provide some straight-forward answers to a host of questions for would-be Canadian students. Heck, if the students don’t have (or care) about these answers, surely their parents will and this book is equally helpful to them. I congratulate my fellow bloggers on producing such a fine piece of work and filling such an important personal-finance niche.
Are you a student who likes beer but also wants to save more money? Are you a parent of a student who wants your kid to focus on saving more money than drinking more beer? Then get the book OR win a FREE copy of More Money for Beer and Textbooks – A Financial Guide for Today’s Canadian Student by entering the giveaway below. Good luck!