My dream is to study business at the University of Toronto in the future. 

On the official website of U of T, I can see that the tuition fee for the first year is $6100, and the tuition fee for the senior year reaches $15900. At present, I have not found a program I am interested in, tentatively scheduled for $1000 every year.

 

Items: | Fees:
Shelter rent | $700/month 
Food | $500/month
Transportation | $400/month 
Other program fees | $1000/year
Tuition  | $6100 - $15,900/year
Pocket money | $400/month 
Total | $31100 - $40900/year

I really love this quotation, it says the order of saving and spending. Never have a fluke feeling that I can save the remaining money after I spend all this money, because you never know how much you are going to save. The money you save depends on how much you spend. This way your saving plan will become very passive. If you save the money before you spend the left money, you will be careful to calculate every penny and not waste a little. This way of saving money is effective. 

So for my personal way to operate this quotation is that I have to make a long term plan, like If I save $300 per month, pay the interest rate, after 2 year I can afford a car approximately $10,000. Save 300 hundred in the monthly food, drink, housing and transportation, and then carefully allocate the remaining money to saving what I left after spending. If I follow the second way, maybe I can only save $50 per month. 

I chose this quotation because I think don't just save money blindly and wait foolishly for the bank's interest rate, but use the saved money to make appropriate investments. For example, if you have some money lying down in your bank account, you can borrow money from the bank, family or earn money by yourself to buy a house. Rent it every month. Even though you have a huge amount of debt, think about that, you already own a house. In this era of rising housing prices, it is possible that the value of the house will double after graduating from university. 

My parents have saved RESP for me, and half of the half of the tuition has been prepared for me.

I will start working when I am 16 years old, so I have two years to save my money. My goal is to save $500 per month, after two years I will have $12,000.

I have a small condo in China. I am gonna sell it after I graduate and loan to buy a small apartment next to U of T. I will repay the loan with the rent, so my parents do not have to worry about the shelter problem. 

If something changes, something bad will happen. I will borrow from the OSAP, work to pay off debts after graduation.