Ricos Budget.

Post Secondary Application Fee

Schulich School of Music Application $66.17

Education

Tuition $7,402.80

Society and other fees $674.33

Student Services/Athletics and Recreation $570.34

Registration/Transcripts & Diploma/General Administrative $326.52

Charges

Copyright Fee $27.30

Information Technology Charge $231.90

Private Music Lessons $1,102.88

SSMU Health and Dental Insurance $245.00

Books (estimate can vary) $1,000

Accommodations

Campus Residence $16,007

Food

Mandatory Residential Meal Plan $5,475

oneCard additional fee $500

Other food costs $204.00

Transportation

4-month pass x2 $394

Clothes

Winter Jacket $140

Other (shirts, pants, socks, etc) $430

 Entertainment

Digital keyboard $549.95

Bicycle $189.99

Health/Personal Care

Basic living necessities $45

Utilities

Cell phone plan (pay to go) $120

Grand Total $35,702.18

What is your educational or career goal? (1 mark)

My educational goal is to at least receive a Bachelor of Music (BMUS), and possibly continue on with my
studies if interested. My career goal is to work as a composer or music teacher.

Which institution do you plan to attend? What expenses do you anticipate? List a range of
specific expenses that you anticipate. What are your expected expenses and i ncome?

I plan to attend the Schulich School of Music (McGIll University), located in Montreal, Canada.

1. Post Secondary application fee

Applying for the Schulich School of Music costs $66.17.

2. Tuition fee

Unfortunately, because I am not a resident of Quebec, I will have to fairly more in comparison to students
currently residing in the city. As a non-Quebec student, I will have to pay $7402.80. Asides from tuition,
there are many other fees within the program that must be paid, and are detailed in the chart above.

3. Books

The cost of books cost roughly around $1000. There will most likely be other books I have to purchase if I
want to perform well in my studies.

4. Accommodations
If I were to attend McGill, I would most likely opt to live in a campus residence, rather than rent my own
apartment. The total cost of New Residence Hall, the campus residence I have chosen to live in, starts
from $16,439, and ranges up to $17,959. The bathrooms in this campus are private, while the campus is
universally accessible. Each room has its own small kitchen, allowing me to cook if I ever desire to.

5. Utilities

While many of the fees, such as internet and hydro, are included in the cost of my campus residence, I
will still need to pay for my own phone plans. Since I do not use my phone to text very often, and only call
when absolutely required, I intend to purchase a pay-to-plan, which costs only $120 for one year.

6. Food

McGill has a mandatory meal program for students living in campus residence. The program has healthy
eating in mind, providing students with nutritious meals. The program costs $5,475, but an additional fee
of $500 must also be paid.However, this money can be spent as oneCard credit on taxable food, vending
machine snacks, or laundry. I plan to save $200, for if I ever decide to eat outside.

7. Transportation

In Montreal, a 4 month pass can be purchased at the cost of $197. Since I will be expecting to stay for 8
months, I can purchase two of these passes, which will cost me a total of $394. I plan to purchase an
inexpensive bicycle as well, for entertainment purposes, and possibly as a method of transportation too.

8. Clothing

Since I will be attending the Fall/Winter semester, I will definitely require a jacket, as the cold weather in
Montreal can reach very harsh levels. A good winter jacket costs at least $140. I will most likely also bring
along with me 3 hoodies, 4 shirts, 3 pairs of pants, 2 pairs of shoes, and most likely a pair of boots.

9. Entertainment

Purchasing a keyboard will be one of my top priorities upon moving to Montreal, as I can play the piano
for fun, and using a piano of some sort will also be required for my studies. Obviously, it is illogical for me
to buy a piano, especially when I definitely do not have the money to pay for one, and I cannot move it
around easily. Because of this, I will be purchasing a Casio digital keyboard for $549.95. Other forms of
entertainment, such as reading and listening to music, does not require money to be spent, as the city
has a library, and I have my own phone.

10. Health/Personal Care

Health and dental insurance is included in the McGill BMUS fees and costs $245.00. For basic
necessities, I estimate that I will spend $50 at most.
3. Where will the money come from? What sources of support do you expect to have? These must
include details on at least two (2) of the following: (2 marks)

1. Savings

My parents chose the Canadian Scholarship Trust Plan (CST) for my Registered Education Savings Plan
(RESP) when I was about a year old. The plan will hopefully pay for some of the fees required to attend
the school.

2. Part-time work

I hope to teach part-time as a piano teacher and theory teacher. I am also planning to find a job as a
piano accompaniment for choirs or music ensembles, and if possible, work for a music store like Tom
Lee.

3. Scholarships and bursaries

I will most definitely apply for the entrance bursary program offered to undergraduates. Scholarships are
offered to student applicants with outstanding achievements, and I hope to receive a scholarship if
possible.

4. What are your short-term and long-term plans for meeting the financial challenges that you
anticipate might lie ahead? Complete the Setting Your Financial Goals worksheet that is attached
below. (15 marks) Make sure this is a well detailed plan (including at least 5 points of detail for
each goal

Attached on the Weebly website

5. What obstacles might you encounter while trying to meet these goals and how will you
overcome them? (5 marks)

Specific goal obstacles are on the Setting Your Financial Goals w

orksheet

When striving to meet my goals, there is a high probability that I will encounter obstacles. These
obstacles will can be financial related, and might include unknown, hidden, or unexpected expenses I
might have not accounted for in my budget. Other financial related obstacles might be the temptation or
mistake of spending more money than I plan for. The easiest way to overcome these obstacles is by
preventing them beforehand, and this can be done by detailing a precise budget, which is the purpose of
this assignment. If a problematic financial situation does occur, I must will myself to compensate and
save money.

Links:
https://www.mcgill.ca/music/programs/bmus/music-composition
https://www.mcgill.ca/music/admissions/undergraduate/finances
http://www.mcgill.ca/student-accounts/tuition-charges/fallwinter-term-tuition-and-fees/undergraduate-fees
http://www.mcgill.ca/studentaid/scholarships-aid/future-undergrads/need#entrance-bursary-program
http://www.mcgill.ca/undergraduate-admissions/yearly-costs
http://www.mcgill.ca/students/housing/offcampus/rent/info
http://www.mcgill.ca/undergraduate-admissions/mcgill-experience/our-city-montreal-canada
http://www.mcgill.ca/undergraduate-admissions/student-life/housing-and-food
http://www.mcgill.ca/students/housing/rez-options/downtown-undergrad
http://www.mcgill.ca/foodservices/mealplans/residential