One summer, two school semesters: How not to go broke

It's no secret that it's not easy being a student.

According to a 2015 survey from theCanadian University Survey Consortium, 29 per cent of all Canadian students owe $20,000 or more after graduation, while the average debt for students with loans has climbed to $26,819.

The Canadian Federation of Students says today's students are the most in debt generation in Canadian history. And according to Statistics Canada, over the past few years the nation's averagetuition fees have risen above inflation.

But according to money coach andfinancial planner Leslie Gardner, it's possible to get out of university with little to no debt it just takes a bit of planning.

Gardner sat down with the CBC's BC Almanac to offer tips for students.

Develop a budget

"Thebiggest mistake is that [parents and kids] all don't sit down and look at the numbers," said Gardner. "You need to know how what your numbers are, how much is this going to cost."

Find out exactly how much money will be coming in, from summer jobs to scholarships, and develop a plan accordingly.

Include 'going out' in the budget

Going out is part of the student lifestyle, so including costs of entertainment should be included in spending plans.

"This is a new opportunity and it's exciting for them, so make sure it's included in there but be reasonable," said Gardner.

Be flexible

The learning curve for sticking to a budget can be a little steep, and might take some adjusting.

Gardner says parents and students should be open to making changes along the way, especially after the first few months. From there, it will steady.

Apply for scholarships

"I would highly recommend all students start looking for scholarships and do what they can," she said."There's a lot of money on the table that's left on the table."

Scholarships Canada lists over $100 million in scholarships each year. There are also many scholarships that are unadvertised.

StudentAidBC, the province's student loan provider, also offers grants and bursaries.

Fixed account for bills

Monthly bills are about as certain as term papers during the academic year, and Gardner says one trick to keep you from worrying about your expenses while you're trying to study is to develop a fixed bank account for all your monthly bills.

Each month, Gardner says students should deposit an amount into a fixed bank account. Automate recurring payments and always keep an eye on how much you have in your accounts.

Keep your receipts

"Make sure you keep all of your receipts, because there's some tax benefits that you might be able to get back," Gardner said.

"You can sort it out at tax time," she added.

For a list of tax credits in British Columbia, visit theFinancial Consumer Agency of Canada list of tax deductions and tax credits for students

Stay away from student credit cards

Gardner says student credit cards are appealing, but in the end can become another source of debt.

She says sticking to what you have in the bank rather than relying on credit will make you better off in the long run.

Make your own lunches and coffee every day

How much do you spend on coffee each day?

"Two or threedollars a day can add up to over $300 over a semester. Look into making your own brew each day at a lower cost, it could add up big over four years in university."

With files from CBC's BC Almanac

To hear the full interview, listen to the audio labelled:Financial planner shares tips for university students looking to manage their money