How college students are keeping up with the rising cost of living.

Some college students have had to cut back on their day-to-day spending since starting college due to the rising cost of living.

According to madeinca.ca, a website with studies on how Canadians spend their money, 63 per cent of Canadians consider fast food a luxury.

The study also found 60 per cent of Canadians buy fast food at least once a week.

“I have cut back by buying more groceries instead of eating at restaurants as often,” said Justin Lemoyne, a domestic student at St. Clair College.

He said while he does not have a job right now, he saved a good amount of money before he went to college so he would not have to work as much during his time at school.

According to Immigration News Canada, international students have it harder than domestic students when it comes to costs.

The study showed that international students have a harder time finding a job due to them being from a foreign country and have a higher likelihood of being exploited by their employers due to language barriers.

“I’ve been applying since the last three months,” said Shivtar Singh, a St. Clair College international student. “I am still looking for a job right now.”

According to Statistics Canada, the average cost of food went up by 8.9 per cent in 2022.

“I have to cut back on my groceries because it is too expensive,” said Singh. “The cost of vegetables is too expensive, so you have to consider the amount as well.”

Domestic students have also had problems with the rising price of groceries.

“It has been more difficult,” said Lemoyne. “I have been surprised by how much groceries have been going up.”

According to the 2023 edition of Canada’s food price report, the average price of groceries for one person will cost $371 per month this year.

“I have to have a budget if I want to save money,” said Singh. “I do not have a job, so I am planning.”

Some people use financial advisors to help them with their financial situations and create a budget for them to work with.

“To the majority of people in Canada who have a financial plan, it makes all the difference in stability,” said Walter Krause, a banking advisor from RBC Royal Bank.

Krause said budgets are very important to getting to your financial goals, especially for younger people and college students.

“Clients without a budget can run into problems rather quickly,” said Krause. “It is like driving a car with no steering wheel.