A penny saved is a penny earned!
As students, we know that money matters. Developing disciplined spending habits is key to our financial well-being, and making small changes to them can lead to big savings. This doesn’t have to be painful. There are fun ways to increase your savings and avoid the pitfalls of the dreaded “impulse buy.”
IGNITE has a number of resources that can help alleviate some of the financial burden students face! Whether through the IGNITE Bursary, the IGNITE Black Excellence Scholarship or the IGNITE Pride Scholarship, we ease your financial stress so you can focus on your student experience.
Who knows, you might even qualify for one! Do you wince when you see your bank balance? Are you deathly afraid of those expenses of yours piling up? You don’t have to be.
Let’s dive in and see the different ways Humber Polytechnic and University of Guelph-Humber students can make (and save) money.
Financial bursaries
The IGNITE Bursary is extremely straightforward; students at Humber apply through MyHumber and UofGH students apply through the Guelph Humber Bursary. The total value of this bursary is $500.
Each student is limited to one bursary per academic year. Fall applications open on Oct. 20, so be prepared to apply around then. The primary stipulation is that you have financial need and are a student registered at either Humber or UofGH.
The application window will remain open until the available funds have been dispersed, so don’t miss out!
The IGNITE Black Excellence Scholarship
The IGNITE Black Excellence Scholarship awards $1000. Back in 2021, this scholarship was created to recognize and support five exceptional students within the Black, African or Caribbean communities.
The scholarship then carried over and it is now an annual award given to students within these groups who have shown leadership ability, academic excellence and have a high level of community involvement.
There is also a financial need component and students must be registered at either Humber or UofGH. You can apply here once applications open on Feb. 1, 2026.
The IGNITE Pride Scholarship
The IGNITE Pride Scholarship acknowledges the unique hardships that the 2SLGBTQ+ community faces, including social stigma and higher levels of financial insecurity.
This scholarship shares some similarities with the IGNITE Black Excellence Scholarship. It also awards five students who demonstrate they have leadership qualities and community involvement, are in good academic standing and are full-time students at either Humber or UofGH.
Keep an eye on our webpage because the applications will open next summer.
Budget management
Although these are all great opportunities that students have available to them, they don’t replace budget management. No matter how much or how little disposable income you possess, this is an important skill to have.
There are many ways to save. Students can save on unnecessary takis runs by checking out the newly upgraded IGNITE Soupbar, which has a medley of different flavours of soup at a great price point—FREE! Simply take what you need—no questions asked—and enjoy a healthy alternative to fast food that is lighter on the wallet to boot.
Spur-of-the-moment purchases that you make are usually the ones that are avoidable. Think carefully before spending on items you don’t actually need. Try to determine which expenses are necessities and which are not.
Tips and tricks to save money
Do you drive to school? Instead of paying for gas and parking, carpool with friends! Splitting costs can often be prudent, and time with friends is always a plus. Better yet, if you live in an area where the TTC or GO Train is accessible, you should consider taking public transit. It’s much cheaper and you don’t have to worry about traffic. It’s also better for the environment!
In terms of school-related costs, you can always find ways to save. Need a textbook for a class? See if you can find it used. Bargain hunting isn’t being cheap, it’s being financially prudent.
If you really want to break bad spending habits, consider what is a want and what is a need. Avoid impulsive buying and really consider if a purchase you’re contemplating will become a regret later on. If it’s worthwhile, spend your money, but be prudent about the amount you are spending and the frequency of purchases.
This process can really help you manage your budget, halt reckless spending and give you greater control over your finances. You will see this reflected in your bank account over time!
It’s time to save!
All of these financial aid opportunities are worth learning about. Knowledge is power, and the more you know, the better equipped you will be when tackling your financial goals. Financial literacy is not a skill that you are born with; it takes time to learn how to build this particular muscle. Like any muscle, it requires training and consistent attention in order to strengthen.
Bad spending habits on even small items can quickly build up and overwhelm you. Saving money (even a little at a time) is the key to financial freedom.
I know I’ve regretted not applying for more scholarships and bursaries when I had the opportunity, but now hopefully you won’t make the same mistake. Remember that these resources are there to help you.
Because what do you have to lose besides debt?
Feature image courtesy of micheile henderson via Unsplash.
Are you looking for even more ways to save your money? Find out how to avoid spending out of stress or boredom!
Follow us on YouTube, Instagram and TikTok for all things student life.
