Paul Martin's Business Update August 21st, 2014

Somewhere along the way, Saskatchewan students were blessed with the frugal bug.

Canada’s major banks have become very adept at crafting interesting surveys that ultimately become news stories which provide the institution with a free plug. This is one of those.

A new survey by BMO Bank of Montreal explored the spending plans of post-secondary students who are getting ready to return to school. What they found is that we prairie folk are a little less extravagant than the national average.

Across the country, students expect to spend just over $1,100 in preparing for classes. This covers everything from books to new clothes to updated computers. But here in Saskatchewan that number is more likely to be around $850. And they are the least likely to update their wardrobe.

While the national average is $1,100, many reported they plan to buy a few other things with the top end of spending projected to hit $2,600.

And how will they pay for it? One of three places: with a student loan, by straight up borrowing or through the assistance of family or friends.

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