T8N August 2017

August 2017 t8nmagazine.com

Money Talks The Importance of Financial Literacy

Student Loans 101 Your Step-by-Step Guide Awaits

Crowdfunding Could It Work for You?

Eggs Are Back Healthy, Economical, Delicious!

Need Help Budgeting?

There’s an App for That T8N August 2017 1

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INTRODUCING THE URBAN DISTRICT

The Urban District transcends your average shopping centre. Reflecting the City of St. Albert’s active population, our vision is to create a vibrant multi-use development that boasts retail, hospitality, medical, professional and residential offerings all anchored by a naturally stunning, lush park space that transforms into an ice rink to be enjoyed throughout the winter months. In the Urban District, the stress of day-to-day errands and appointments dissolves against a backdrop of stimulating sights and exciting discoveries.

RETAIL/ COMMERCIAL 3

This dynamic development will effectively connect the community at every turn with thoughtful, multi-functional spaces that encourage interaction and activity through the seasons. Employing purposeful design, the District is pedestrianfriendly not only to inspire healthy living, but also to ensure visitors can take in the full host of offerings with ease, and convenient access directly from St. Albert trail.

August 2017

Contents CONVERSATIONS 6 Financial Literacy

ARTS & CULTURE 24 IN THE SPOTLIGHT

CITY 11 Habitat for Humanity

26 THEN & NOW

Don’t make cash a cold, hard conversation

Putting the home back in homework

16 MEET YOU THERE

Eggs

The returning champion

of breakfast

Banking in St. Albert Then & Now

28 THE 8S

Becoming a Savvy Student

Tips for cutting costs at the bookstore

18 COMMUNITY CALENDAR

TRENDING 30 Student Loans 101

The Northern Alberta Business Incubator

Nurturing small businesses

since 1989

LIVING 19 FOOD & GATHERINGS

The Toast of the Town Bread is back!

23 TRULY DEEPLY MADLY

May We Suggest…

Financial Apps Using your phone to manage your money

ABOUT THE COVER Know your worth. Then add tax.

- Unknown IMAGE BY BRENDA LAKEMAN PHOTOGRAPHY

Covering the cost of a higher education

32 Crowdfunding (n.)

Investors are only a click away

BACK TO SCHOOL CHECKLIST: 3 School Supplies q 3 New Shoes q 3 New Clothes q 3 Tommy Gun’s Haircut q

140 St Albert Trail • 780-470-4144

From the Editor

T8N MAGAZINE

VOLUME 4 ISSUE 8 August 2017

AUGUST AND EVERYTHING after. If you’re old

enough to know that musical reference, welcome to my 20s! But don’t get nostalgic just yet. We’re counting more than crows in this month’s T8N— we’re counting money. More specifically, we’re counting on changing the conversation around money. Starting with the financial lexicon needed to begin one.

After tackling financial literacy, we looked to our photo essay to capture and explore a different kind of economic education with a visit to Habitat for Humanity. There we met not only an amazing team and organization but also a community of volunteers putting the home back in homework.

CARMEN D. HRYNCHUK EDITOR-IN-CHIEF

The learning didn’t stop there. We explored the world of crowdfunding, financial apps and took a visit to the Northern Alberta Business Incubator. And if you’re heading back to post-secondary this September, you’ll want to check our tips for saving money on textbooks and how to apply for a student loan.

And what’s a conversation about money without talking breadwinners? Delicious ones!

In this month’s recipes, we’re celebrating a staple that’s been stretching budgets for centuries—Bread! We’ve got blueberry focaccia with lemon and thyme, Mediterranean olive bread, panzanella salad and a bread pudding with rum sauce to knock your socks off. Ready to butter up to a good thing? Sounds like good cents, indeed.

PUBLISHER

EDITOR-IN-CHIEF

Rob Lightfoot

Carmen D. Hrynchuk

ART DIRECTION

Carmen D. Hrynchuk, Brenda Lakeman PRODUCTION MANAGEMENT & DESIGN

Correna Saunders PHOTOGRAPHY

Brenda Lakeman FOOD STYLING

Little Fire Creative PROOFREADING

Amy Lightfoot CONTRIBUTORS

Shawna Dirksen, Jennie Drent, Rhonda Kronyk, Markwell Lyon, Robert Michon, Derek Owen OFFICE MANAGER

Janice Lightfoot CONTRIBUTING AGENCIES Image page 6 ©Petr Ciz/Adobe Stock Image page 23 ©aey/Adobe Stock Image page 24 ©vvmich/Adobe Stock Image page 28 ©Olga Iermolaieva/Adobe Stock Image page 30 ©Tomasz Rzymkiewicz/Adobe Stock Image page 32 ©DavidArts/Adobe Stock

ISSN 2368-707X (PRINT)

Happy August.

ISSN 2368-7088 (ONLINE)

For editorial inquiries or information, contact T8N magazine at info@t8nmagazine.com. Have something to say? Letters, suggestions or ideas can be sent to letters@t8nmagazine.com.

Feature Writers

FOR ADVERTISING INFORMATION

SHAWNA DIRKSEN

Shawna is a freelance writer with a strong connection to St. Albert: she lived here for 8 years, and her first writing gig after earning her public relations diploma was with the Arden Theatre and International Children’s Festival. Now in Edmonton, Shawna keeps busy writing for local publications and businesses. When she isn’t hard at work, she enjoys reading, running, skiing, live music and theatre.

MARKWELL LYON

Mark is a writer and occasional editor who is currently studying professional communication at MacEwan University. He has mostly lived in Edmonton and Seoul, Korea.

Rob Lightfoot rob@t8nmagazine.com 780 940 6212 or visit t8nmagazine.com T8N magazine is published 12 times a year by T8N Publishing Inc. Copyright ©2017 T8N Publishing Inc. Reproduction in whole or in part without permission is strictly prohibited.

Content marked by the Sponsored Content icon was produced in partnership between content producers and T8N magazine.

PRINTED IN CANADA

T8N PUBLISHING INC PUBLISHER & PRESIDENT

Rob Lightfoot: rob@t8nmagazine.com Snailmail: #176, 311 Bellerose Drive, St.Albert AB T8N 5C9

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Connect with us!

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RHONDA KRONYK

ROBERT MICHON

DEREK OWEN

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Conversations

a c r y e t i L Fina ncia l cold, h a s a c e k a io n t a s Do n’ t m r e v n ha rd co Dirksen

By Shawna

THERE’S SOMETHING ABOUT money

that makes people squirm. Like the “sex talk,” the “where money comes from” talk is something that doesn’t happen in every household. But how did money become such a dirty word when being financially literate is so important? Whether we’re graduating from school, renting our first apartment, starting a family, launching a start-up or retiring, our finances are 6 T8Nmagazine.com

tied to nearly every major benchmark in our lives. And with the payoffs being so big and the losses being so devastating, it’s time we stopped settling for half-truths and financial advice from the wrong sources.

Instead, let’s start exploring what it means to be well informed about fina ncia l matters — sta rting with learning the lexicon needed to begin the conversation.

Turning the Page on Financial Literacy Being financially literate means having the knowledge and skills to make effective choices about managing money. In 2015, the Canadian Bankers Association conducted a nationwide study on financial literacy, where participants were asked five multiple-choice, financial-knowledge questions. Overall, 13 percent of participants got all 5 questions correct, and 1 in 3 failed to get more than 2 questions correct.

Based on this study, it seems that an awful lot of Canadians don’t have enough financial knowledge to plan their finances properly.

The good news, however, is that it’s never too late to learn.

Financial literacy is all about asking questions and doing old-fashioned research. “You have to do your homework,” says Mark Brunelle, a certified financial planner with 18 years experience. “Unfortunately, I often see people spend more time planning a holiday or researching which new fridge they are going to buy than establishing a financial plan.”

Brunelle says some clients are reluctant to open up to an expert about financial matters, often because they feel they aren’t where they should be financially, “Money is tough to talk about. I had a good friend of mine tell me that he never asked me for my advice as an expert because he was too embarrassed at the poor state of affairs his financial house was in.”

Even though Brunelle feels that people should talk more about money in general, he points out that being guarded in some circumstances is also wise. “We live in a social-media world where people are sharing everything with everyone, so there is a line when it comes to sharing things about our finances. But that being said, we do need to be more open to talking about money with the important people in our lives and with professionals.” Knowing when to talk and to whom is part of being money wise throughout life.

A Roadmap to Financial Security Our lives and financial needs are constantly changing. As we reach certain benchmarks along the way, it’s important that we adjust our budgets and financial plans to fit our circumstances and life goals. Here’s a look at the financial considerations you’ll want on your radar from childhood to retirement—a roadmap to building a healthy relationship with managing and talking about money.

Children & Teenagers From the time we are five years old and being given money, we start to learn the basics about saving and spending. Many experts say that somewhere between the ages of 6 and 10 is the right time to help your child open his or her first bank account.

Around these ages, your child can start to grasp the concept of saving and accumulating interest.

At most banks, anyone over the age of 12 can open his or her own account. This is also the age many kids get their first jobs or earn an allowance from their parents, so it’s a good time to get started with a chequing account. Kids this age should also be learning how to manage that account by doing oldschool transactions at the bank, as well as learning to keep track of their money with online banking systems and bank statements.

When it comes to kids and money, Brunelle says it’s most important that parents lead by example, “We learn so much from our parents. If your kids see you saving, they will learn from an early stage. You have to walk the walk. It’s like, you can’t smoke and then tell your kids not to. They see [how you manage your money] and will learn from that.”

In our 20s When we enter adulthood, our finances get more complicated. We have to learn how to manage expenses we didn’t necessarily have to think about before, like rent, transportation costs and groceries. You should be learning how to create—and stick to—a household budget at this stage.

Your twenties also marks the first time you might be thinking seriously about long-term goals such as completing your education, splitting rent with others or even buying a home. You’ll likely start to accumulate some serious debt at this age (student loans, for example), but it’s also an age when you begin to establish credit by paying your bills on time. Now is also the time not to spend everything you make.

In your twenties, it’s easy to put off saving for the future; however, it’s important to develop good financial habits while you’re young. “Later is always coming,” says Brunelle. “There are two types of savers: those who save and spend what’s left, and those who spend and save what’s left. Young people need to start the habit of saving right from that first pay cheque. Treat your savings like an expense. Have a systematic payment come right off your cheque.”

Marriage is another milestone many people experience in their twenties. Brunelle says it’s important to communicate with your partner about money from the start, “I always start my meetings [with new clients] with a questionnaire. Each spouse fills it out and [when we go over it afterward] one is thinking they will retire at 50 and the other says 70, so maybe they should talk.”

DID YOU KNOW? When it comes to budgeting, many financial experts recommend the 50/20/30 rule: 50% of your take-home pay goes to needs such as housing, transportation, groceries and utilities.

20% goes to future goals, such as savings, debt repayment and retirement contributions.

30% goes to wants such as cable, Internet, gym memberships, pets and hobbies.

Speaking of retirement, now’s the time to start planning for it. In Canada, the primary ways to save for retirement are to contribute to a registered retirement savings plan (RRSP), which lets you contribute up to 18 percent of your annual income to a maximum of $24,930, or to contribute to a taxfree savings account (TFSA), which allows up to $5,500 a year. And though the perception is that saving more money will be easier when you’re making more money, saving money is never effortless! In fact, freeing up 18 percent of your income is often easier in your twenties before children and mortgages start weighing heavily on your income flow.

Start early.

In our 30s When we enter our thirties, many of us are more established in our careers, are becoming homeowners and are starting our families. As we reach these benchmarks, our financial outlook will change quite drastically.

At this stage in life, you should start protecting your finances: purchasing life, disability and critical illness insurance, drawing up a legal will, reducing your debt and starting an emergency fund. You should also be accumulating some wealth: buying property, T8N August 2017 7

ADVICE FOR WOMEN When it comes to finances, gender should not determine decision-making power. However, in many households this isn’t the case. “In a lot of families, men want to take the driver’s seat [when it comes to finances], but it’s very important that women make sure they are involved in all financial decisions,” says Brunelle. “All parties at the table need to have a say in what’s going on. Statistically, women outlive men. If they don’t pick up [financial knowledge], they won’t know what to do when they’re on their own.” contributing regularly to RRSPs or mutual funds, saving for your children’s education and learning to invest money.

A lot of life changes may be happening at this age, but Brunelle says to take things one step at a time. “Maybe you buy a house or a car or have a baby. It’s time to prioritize your spending. Remember, you need to walk before you can run. Start with protecting yourself and your family financially, and build your way up from there.”

In our 40s As we enter mid-life, we become even more established in our careers, which hopefully means we are earning more money, too.

With your finances protected by the work you did in your thirties, you should be continuing to accumulate wealth, but be adjusting your budget as your financial circumstances change. “Your savings should go up with your income,” says Brunelle.

“If you’re at a point in life where you can afford to spend a little more, you should also save a little more. Think of it as more of a

percentage than a fixed amount, around 10 to 15 percent, and then you can split that up depending on your goals and objectives.”

In our 50s Life and family dynamics can change completely when we reach our fifties. Many of us are in the kids-leaving-home phase. No longer supporting a family, you may notice your expenses start to decrease at this stage.

At the same time, the prospect of retirement is closer than ever before. To prepare for this stage, you should still be focused on financial growth and diversification—paying down your mortgage, contributing to your savings plans and investing.

You should also be making sure you’re financially ready to retire when the time comes. “It’s time to have a close look at your retirement plan and make sure things are on track,” says Brunelle. “Hopefully you’ve been trickling some money into retirement savings already. Again, it’s time to revisit your budget; it should change as your life does.”

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According to a 2015 Statistics Canada study, the average age for retirement in Canada is 63, and one in eight Canadians over 65 still work. If you have a retirement goal in mind, it’s important to crunch the numbers early on (in your twenties) to get an idea of how realistic you’re being about how much you’ll need to save and when you need to begin.

“It’s never too late to start saving for retirement, but the best day is yesterday and the second best day is today,” says Brunelle.

And if you’re planning to rely on your Canada Pension Plan (CPP) or Old Age Security (OAS), you may want to reconsider.

CPP pays out a maximum of $1,114.17 a month (and not all retirees are eligible for

the maximum amount). OAS payments max out at $583.74 a month. “Retirement isn’t a right, it’s a privilege. If you don’t have money saved, you can’t retire. Many people think they can live on their pension or old age security, but subsistence living is just barely getting by. If you want to go on a trip or you want to renovate, you will need some extra money.”

FINANCIAL FACTS According to a 2012 Statistics Canada study, 71% of Canadian families had at least some debt (including both mortgage and consumer debt). That number was up from 67% in 1999.

The same 2012 study found that the median debt for Canadian families was $60,100 (up $23,400 from 1999).

Finding the Right Financial Help Overwhelmed by the roadmap? That’s probably because it’s a little overwhelming.

And that’s okay. What’s not okay is thinking you can’t manage it. Many people fail to plan their finances (or do a poor job of it) because the financial world can be so complex. From researching mortgage rates to understanding savings and investment options, to choosing the right insurance, financial management can feel overwhelming. The good news is, working with a qualified financial professional you trust can make things much easier.

But, how do you know if you’re working with the right advisor? Brunelle offers this advice: “If I could tell people one thing, I’d tell them to research their financial advisors.

Make sure you are working with licenced professionals who are accredited properly.”

Brunelle also warns people not to be fooled by flashy sales pitches or too-good-to-betrue “guaranteed” offers. “Unfortunately, too many people get taken in by these types of things. Your financial advisor should be taking his or her own advice and buying the same products he or she is selling to clients.”

In the end, whether we’re flush or financially strapped, we’ve all got money on our minds.

It’s time to open up about our finances and help each other stay on track to a secure financial future. t8n T8N August 2017 9

Habitat for

HUMANITY Putting the home back in homework PHOTOGRAPHY BY BRENDA LAKEMAN WORDS BY RHONDA KRONYK

GO TO ANY Habitat for Humanity work site,

and you’ll hear the sound of hammers and saws, people laughing and lives changing.

This year, Habitat for Humanity Canada is celebrating Canada’s 150th anniversary by completing 150 homes in just five days. Why does this matter in Alberta, one of Canada’s wealthiest provinces? Because, according to Alfred Nikolai, President and CEO of Habitat for Humanity Edmonton, “affordable housing is an issue in every municipality in Alberta.” In fact, approximately three million Canadians live in what’s termed “precarious housing situations.” Habitat Canada directly answers some of this desperate need, says Nikolai, by “changing that rent payment, which is their biggest burden in life, into their biggest blessing.” How does that all begin? Take a look.

T8N August 2017 11

“Jimmy and Rosalynn Carter pick one place in the world each year to come and build— we call it the Jimmy Carter Work Project. For Habitat affiliates all over the world, it’s like applying for the Olympic Games.”

–Alfred Nikolai

The Habitat for Humanity movement began in 1976 in Americus, Georgia. In 1984, Habitat’s most iconic couple, Jimmy and Rosalynn Carter, took their first Habitat trip and have been ambassadors of the movement ever since. The first Canadian Habitat home was built in 1985, and since then, Habitat Canada has built and renovated over 2,800 homes. Applicants, however, aren’t simply handed keys to a new home. They commit to repaying an interest-free loan; contribute 500 hours sweat equity and take workshops on maintenance, budgeting and home ownership. Nikolai says the Habitat concept of a hand-up, not a handout, is imperative because “the most important people are those that need the housing … It’s a commitment to themselves that they can do something about this situation and are willing to work for it.”

12 T8Nmagazine.com

Nikolai says Habitat’s mission is to “help families that are stuck in the cycle of paying most of their income to rent by providing them a safe, decent and affordable place to live.” A Habitat house immediately gives families a living wage by limiting their mortgage repayments to 25 percent of household income, which helps break the cycle of poverty. And the benefits don’t stop when they get the keys to their new home. “When I talk to my families a year after they move into their house, they talk about how it’s changed their children’s perspective on life,” says Nikolai. “There’s a different attitude, a different sense of dignity, a different sense of self-esteem if you own your own home—and there’s pride in your community. But most importantly, there’s pride in yourself.”

A 2015 study of Habitat Canada estimated that for every dollar invested in a home, there was a four-dollar benefit to society. As Nikolai explains, Habitat is able to create assets for the community because “we sell the homes to the families who pay a mortgage to Habitat. The payments get reinvested back into affordable housing in the community of Edmonton.” For example, that means that about $500,000 will be reinvested in Edmonton over the next 10 years as a result of this year’s Jimmy & Rosalynn Carter Work Project.

T8N August 2017 13

2017 JIMMY & ROSALYNN CARTER WORK PROJECT This summer, Habitat Canada, along with 1000 volunteers from around the world, worked together to build 150 homes for 150 families as part of the 2017 Jimmy & Rosalynn Carter Work Project. Fifty-eight of those homes are located at Carter Place in south Millwoods. Seventeen are in Fort Saskatchewan.

Don’t be shy—Habitat for Humanity could use your help! Whether you want to donate cash, materials or lunch, your contribution will be hugely appreciated. And if you donate cash before August 31, Whirlpool Appliances will match your donation. Have renovation or building skills? You could volunteer your time on a building site. Or, if you’re a business owner, why not pay your staff to volunteer for a day—you’ll make friends, learn new skills and help a family make a dream come true. t8n 14 T8Nmagazine.com

T8N August 2017  15

Meet You There

THE NORTHERN ALBERTA

BUSINESS INCUBATOR Nurturing small businesses since 1989

DAR SCHWANBECK DOESN’T mince

words. “Most small businesses don’t know what they need to know to succeed,” says the managing director of the Northern Alberta Business Incubator (NABI). “When you don’t know the way to the top of the mountain, you are going to spend a lot of time wandering in the forest.” After four decades as a business coach and eleven years at NABI, Schwanbeck may know what he’s talking about considering the huge growth the St. Albert-based incubator has experienced during his tenure.

Starting as the St. Albert Business Development Centre in 1989, NABI originally operated out of a single location: a converted school on Mission Avenue. When Schwanbeck came on board in 2006, the staff consisted of himself and two part-timers. NABI has since added two more locations (both in Campbell Business Park) and close to 20 staff. The 16 T8Nmagazine.com

Campbell Centre came online in 2008, while this past June, NABI Commons opened its doors across the street. This new drop-in centre offers counselling, co-working space and other services for people looking to turn their product ideas into successful businesses.

Incubators like NABI are sort of like nurseries for small businesses in that they take care of a start-up’s basic needs, providing advice, shelter (as in office space), administrative and IT support and connectivity with the community and other businesses. One vital service NABI offers is that of providing quick answers to the many questions that business newbies have about bookkeeping, insurance, registration, incorporating and the like.

These questions are important, Schwanbeck admits, but they can also be a distraction.

“They consume an incredible amount of time in most start-ups, and frankly, most of it’s wasted,” he explains. “At the end of the day, that’s not what matters to growing your business.” Rather, a start-up should be figuring out what exactly it’s selling and

NABI SUCCESS STORIES Flavor Fork—A barbecue accessory, which made it onto Season 8 of CBC’s Dragon’s Den. Proline Group—Livestock production packages, for sale to farmers in China and Southeast Asia.

Baleen International—Clean and efficient wastewater treatment systems. who its customers are. “If you can’t describe that pretty succinctly, you’ve got a problem,” Schwanbeck says with a laugh.

Of course, there’s more to NABI than helpful words. It also rents out small, affordable spaces where clients can anchor their businesses.

This is crucial for many start-ups, whose initial space demands are not realistically matched by the supply. “Most small businesses wildly over-invest in space because the only

NABI AT A GLANCE Location: 200 Carnegie Drive, St. Albert Managing Director: Dar Schwanbeck Mission: To guide and inspire start-ups and small businesses to new levels of performance.

Interesting fact: Over the years, some 300 companies have “graduated” from NABI, while another 4,000 businesses and entrepreneurs have received counselling.

thing that’s available in commercial real estate is 1200 square feet or 1000 square feet,” Schwanbeck says. “The average start-up needs about 80 square feet. So we provide that little space.” Renting office space also has a way of making entrepreneurs feel more accountable because the business feels more “real,” and as Schwanbeck points out, having to pay for that space tends to motivate business owners to work harder.

St. Albert. Schwanbeck estimates that the incubator is home to 130 companies—100 working out of NABI’s buildings, plus 30 virtual tenants—who generated over $22 million in sales in 2016 and currently employ around 300 people. The tenant mix is a diverse one, too, representing almost every sector imaginable—everything from advertising to transportation, manufacturing to education, retail to non-profit.

While all this sounds beneficial for entrepreneurs, there’s also something in it for

So what separates those entrepreneurs who reach the top of the mountain from those

who wander in the forest? In Schwanbeck’s experience, it usually comes down to drive and hard work. “They’re passionate about a product or an idea or a service,” he says of successful entrepreneurs. “They’re prepared to succeed, and they have the discipline.”

NABI’s goal, then, is to supply the smarts and the know-how to make the most of this passion. “Albertans have a can-do mindset,” Schwanbeck says. “I just want to help them be smarter about that. We can do that.” t8n

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COMMUNITY

CALENDAR

Things to do, watch, hear and see this August.

EVENT

EVENT

Capital Region Municipal Golf Tournament This year it’s St. Albert’s turn to hosts this tournament. All the proceeds will go to Valour Place, which is a temporary home for RCMP, members of the Canadian Forces, veterans, families of the fallen and first responders who need medical treatment in Edmonton.

Oilers Hockey School These fully supervised sessions provide kids and teens with expert training in a variety of areas such as off-ice puck skills and hockeyspecific dry-land training, as well as 2.5 hours of ice time from former NHL and WHL instructors.

Date: August 24

Date: July 30 to Aug 4

Location: Glendale Golf & Country Club

Location: Servus Place, 400 Campbell Road

For more info visit: stalbert.ca/exp/calendar/ city-events

For more info visit: nhl.com/oilers/community/oilers-hockey-school

EVENT EVENT

Rock’n August The 21st annual Rock’n August vrooms into St. Albert with four days of nostalgic fun for everyone. There’ll be pancake breakfasts, barbeques, dances, show ’n’ shines and the ever-popular Friday Night Cruise. This annual event raises money for the Alberta Diabetes Foundation; its goal this year is $150,000.

Food Trucks Are Coming

EVENT

Poundmaker’s Lodge Annual Pow Wow The theme for this year’s annual Pow Wow is “Honoring Our Elders: Past and Present.”

There’ll be a drum contest, Iron Man and Iron Woman dance competition, as well as arts, crafts and food vendors. This is a free, family-friendly event open to everyone.

Hosted by Musée Héritage Museum to close out the summer season. There’ll be a beer garden, live music, crafts and games, tours of the grain elevators and, of course, food! Sample “mobile” cuisine from Incredible Edibles, Cookie Love Machine, Afterbite Mobile Kitchen, Dedo’s Food Truck and many more.

Date: August 25

Date: August 8 to 12

Date: August 12 to 13

Location: St. Albert Grain Elevator Park, 4 Meadowview Drive

Location: Various venues around St. Albert

Location: Poundmaker’s Lodge Treatment Lodge, 25108 Poundmaker Road

For more info visit: museeheritage.ca/ whats-on/events

For more info visit: rocknaugust.com

For more info visit: poundmakerslodge.ca EVENT

Come Try Ringette If you want to see what ringette is all about, come out to a free session hosted by the St. Albert Ringette Association.

Image credit: St. Albert Ringette Bring your friends and family to Association experience how much fun this sport is.

Helmets, gloves, skates and registration are required; sticks are available if you need one.

Date: August 26 Location: Servus Place, 400 Campbell Road For more info visit: Sarah at vicepresident@stalbertringette.com or stalbertringette.com 18 T8Nmagazine.com

The Toast of the Town Bread is back!

CARB-COUNTERS, LOOK AWAY. Bread is back,

and the only thing happier than your taste buds are your bank accounts. Historically considered peasant food, bread has been a staple at mealtime for centuries. And this month, we’re celebrating the myriad ways it is loved. We’ve added it to salads and puddings, topped it with blueberries and lemon thyme and have— of course— slathered it with butter. Delicious to no fault at all, this month’s recipes are, well… the greatest thing since sliced bread.

T8N August 2017 19

Blueberry Focaccia with Lemon Thyme Few things taste as good as they smell baking. This is one of those unicorns.

Sweet and savoury with a delicate essence of lemon and thyme.

2 pkgs active dry yeast ( 4 1/2 tsp) 2 1/4 cups warm water 5 cups all-purpose flour 2 tsp salt

1 tbsp extra-virgin olive oil (plus extra for the bread bowl and baking pan) 4 tbsp white sugar

Zest of 1 lemon 2 tbsp chopped lemon thyme 2 cups fresh blueberries

Dissolve the yeast in the water and let sit 10 minutes to proof and bubble.

Place the flour and salt in a large mixing bowl, and mix to combine. Next, slowly pour in the yeast water and olive oil while mixing. Once a sticky dough forms, turn the dough onto a lightly floured work surface, and knead by hand for 7 minutes (the dough will become smooth and round but still be a little sticky). Place the dough in a large bowl coated in olive oil, then flip the dough over so that the top and bottom are both oiled. Cover the bowl with a damp tea towel, and let rest 30 minutes. Punch down the rested dough, reshape it into a smooth ball, cover and let rise for 3 hours.

Preheat your oven to 375˚F, and generously grease a 9-by-13-inch baking pan with extra-virgin olive oil. “Pour” the risen dough out of its bowl and across the prepared baking pan, but do not spread it out with your hands. Leave it to self-level for 20 minutes, then rub olive oil on your fingertips, and coax the dough to the corners of the pan while also dimpling the entire surface of the dough. Drizzle the top with extra olive oil, and leave the dough to rest uncovered for 10 more minutes.

Place the sugar, lemon zest and thyme in a medium-sized bowl, and mix. Add the blueberries, and toss to coat. Next, evenly distribute the mixture atop the dough, and place in the preheated oven to bake for 25 minutes. Remove the baked focaccia from the pan, and let cool 10 minutes before slicing in.

No-Knead Mediterranean Olive Bread

Ricotta & Spinach Crostata

If you’ve been dreaming of Mediterranean waters but have settled for wine on the deck, add a slice of this bread to the menu. Delicious.

Slice these small and serve as appetizers, or large and alongside a salad.

All roads lead to delicious.

3 cups unbleached flour 2 tsp salt 1/4 tsp quick-rise yeast 1 1/2 tbsp freshly chopped rosemary

1 1/2 cups cool water 1 1/2 cups Kalamata olives, pitted and roughly chopped

Place the flour, salt, yeast and rosemary in a large bowl, and mix them together. Add the water, and stir with a wooden spoon until the mixture forms a messy, shaggy dough. Mix in the Kalamata olives until incorporated (switch from the wooden spoon to your hands if that’s easier), cover the bowl with plastic wrap and place in a draft-free place to rise for 14 to 24 hours.

Punch down the risen dough, form it into a ball and place it on a generously floured dinner plate. Thoroughly dust the top with more flour, and loosely cover the dough with waxed paper. Let rise for 2 hours.

Place a large cast-iron pot (with a lid) in the oven, and heat to 450˚F. Remove the heated pot from the oven, and gently centre the risen dough inside (bottom side of the dough facing up).

Cover the pot with the lid, and place it back in the oven for 30 minutes. Remove the lid, lower the temperature to 425˚F and bake for another 15 minutes. Place the baked boule on a rack to cool.

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1 bag of store-bought bread dough (fresh, not frozen) 3 tbsp extra-virgin olive oil 1 large leek, sliced thinly 1 large Vidalia onion, sliced thinly

2 cloves garlic, chopped 6 cups fresh spinach, washed and roughly chopped 3 eggs 2 cups ricotta

1/2 cup cream 1 cup freshly grated Parmesan 2 tbsp freshly chopped chives 2 tbsp freshly chopped dill

Preheat your oven to 375˚F, and generously grease a 9-by-13-inch baking pan with extra-virgin olive oil.

Heat the olive oil in a large pan over medium-high heat, and add the leeks and onions. Reduce the heat to medium, and let the onions cook and soften for 5 minutes, stirring occasionally. Stir in the garlic, and cook for 3 minutes more.

Stir in the spinach, and cook it just long enough for the leaves to wilt and for the liquid to evaporate. Remove from the heat, and let cool 15 minutes.

On a floured surface, roll out the bread dough so that it’s 2 inches longer and wider than your baking pan. Place the dough onto the pan, allowing for the overhang.

To a large mixing bowl, add the eggs, ricotta, cream, Parmesan, chives, dill and cooled onion mixture. Mix to combine, and then evenly pour and spread the filling onto the bread dough. Fold the sides up over the filling, brush the edges with olive oil and bake in the preheated oven for 40 minutes. Gently remove the crostata to a cooling rack, and let sit 15 minutes before slicing into squares with a serrated knife. Serve and enjoy.

Panzanella

Cilantro Lime Butter

Day-old bread’s never had it this good. The perfect salad for tomato season.

This just might be your summer secret weapon. Particularly delicious spread over corn on the cob, shrimp skewers and grilled chicken.

1 large loaf day-old Ciabatta bread, sliced 2 tbsp olive oil (for seasoning the bread) Salt and freshly cracked black pepper (for seasoning the bread) 6 large ripe tomatoes, cored, seeded and cut into wedges 1 purple or Vidalia onion, thinly sliced 1 cup roasted red peppers, drained and cut into strips 1 handful fresh parsley, roughly chopped

1/2 cup Kalamata olives, pitted and halved 2 tbsp capers, drained 3 tbsp freshly grated Parmesan 1/2 cup thinly sliced fresh basil leaves, to garnish Parmesan shavings, to garnish For the dressing 1/4 cup extra-virgin olive oil 3 tbsp red-wine vinegar 1 tbsp Dijon mustard 1 tsp anchovy paste Salt and freshly cracked black pepper, to taste

1 cup unsalted butter, softened 1/3 cup freshly chopped cilantro leaves

1 lime, zested and juiced 1 tsp salt 1/4 tsp cayenne pepper

Place all the ingredients in a small mixing bowl, and mix them together with a spatula until combined and smooth. Taste for salt and pepper, and adjust accordingly. Use immediately, or cover with plastic wrap and store in the fridge.

Brush both sides of each slice of Ciabatta bread with olive oil and season lightly with salt and pepper. Grill the bread on both sides until toasted, and then cut each slice into large cubes.

To a very large mixing bowl, add the cubed bread, tomatoes, onions, red peppers, parsley, olives, capers and grated Parmesan. Toss to combine. Place all the ingredients for the dressing in a Mason jar, and secure the lid. Shake vigorously until combined, and adjust with salt and pepper to taste. Pour the dressing over the salad, and toss to combine.

Let the salad stand at room temperature for at least 30 minutes, then toss in the basil, garnish with Parmesan shavings and serve.

Honey Butter Honey butter was made for cornbread—and French toast and blueberry muffins and banana bread and, quite frankly, any surface that’s spreadable.

3/4 cup salted butter, softened 1/4 cup honey 1/2 tsp ground cinnamon 1/2 tsp vanilla extract

Brown Sugar & Cinnamon Butter This butter makes any breakfast better. Spread it on toast, pancakes and waffles, and watch them disappear.

1/2 cup salted butter, softened 1/4 cup packed brown sugar 1/2 tsp ground cinnamon

With an electric mixer set on mediumlow speed, beat all the ingredients in a mixing bowl until smooth. Use immediately, or cover with plastic wrap and store in the fridge.

Place all the ingredients in a small mixing bowl, and mix them together with a spatula until combined and smooth. Use immediately, or cover with plastic wrap and store in the fridge.

Mustard Butter If you’ve never tried mustard butter, prepare to be delighted.

Add a pat or three to grilled meats, boiled potatoes and pretty much any steamed vegetable.

1/2 cup unsalted butter, softened 1 1/2 tbsp Dijon mustard 1 clove minced garlic 1/2 tsp anchovy paste

1/8 tsp Worcestershire sauce Salt and freshly cracked black pepper, to taste

Place all the ingredients in a small mixing bowl, and mix them together with a spatula until combined and smooth. Use immediately, or cover with plastic wrap and store in the fridge.

T8N August 2017 21

Chocolate Banana Bread Pudding with Rum Sauce Bread pudding is the perfect vehicle for rum sauce. And this one couldn’t be easier or more delicious.

3 eggs 1 cup cream 1 cup milk 1/4 cup packed brown sugar 2 tbsp melted butter 2 ripe bananas, peeled and mashed 2 tbsp spiced rum 1 tbsp vanilla extract 1 tsp ground cinnamon 7 cups cubed brioche

1 1/4 cups mini chocolate chips (we used semi-sweet) 24 pecan halves For the rum sauce 4 tbsp unsalted butter 1/2 cup cream 1/2 cup packed brown sugar Pinch of salt 2 1/2 tbsp spiced rum

In a large mixing bowl, whisk together the eggs, cream, milk, brown sugar, melted butter, bananas, spiced rum, vanilla extract and ground cinnamon.

Stir in the cubed brioche and chocolate chips, and let soak for 20 minutes.

Preheat the oven to 350˚F, and generously butter a 12-mould muffin pan.

Next, fill each mould to the top with the soaked bread mixture and liquid. Top each pudding with 2 pecans, and place the pan in the preheated oven. Bake for 25 minutes or until puffy and golden, yet slightly soft in the middle. Place the pan on a cooling rack, and prepare the rum sauce.

Melt the butter in a small pan over medium-high heat, and then whisk in the cream, sugar and salt. Bring to a boil, whisking constantly, and allow to bubble for 1 minute. Remove the pan from the heat, stir in the rum and allow to cool slightly and thicken. Pour the sauce over the bread puddings, and serve on individual plates with extra sauce on the side. t8n 22 T8Nmagazine.com

Truly, Deeply, Madly

FINANCIAL

APPS Using your phone to manage your money SMART PHONES AND finances—the

two can be an explosive combination in the hands of those who love online shopping too much. However, with some good advice, accountability and planning, downloading some apps to your smart phone can help make managing your money (and even saving it!) a rewarding and educational task. Ready to discover some apps from the App Store (for iPhone users) and Google Play (for Android users)?

Well then, may we suggest...

Flipp Ever wondered how the sheer volume of retail flyers sent out every week makes it possible for anyone to keep track of them.

Flipp does a pretty good job. There are a few apps in this market niche, but Flipp rises to the top for not only having most of the coupons and ad flyers in circulation but also for allowing you to search for specific items or deals at stores near by. The downside to the app is what it costs you in inkjet cartridges—you’ll need to print coupons off at home to use in-store, as retailers cannot scan them off your phone. However, by printing only the coupons you want to use, you can reduce that carbon footprint while still saving money. And maybe you’ll find a deal on ink!

Stock Trainer

Fast Budget

With a little luck and a lot of competent advice from a stock-market professional, it’s possible to double your investments in a tenyear span. For the rest of us who can’t pull that off, there’s Stock Trainer, an app that teaches users how to navigate the market by buying and selling stocks with virtual money.

You get 20,000 virtual dollars to invest, and the app charts your success...or lack thereof.

There’s no real “training” in that the learning is self guided, but it’s basic enough to understand and gives you access to every bit of stock performance data the pros have. Learn things others aren’t, and give this app a try!

Competition to Spending Tracker, Fast Budget isn’t as visually appealing, but its basic ledger-sheet format is easy to navigate, and the ingenious inclusion of an in-app calculator (no flipping back and forth here!) makes this product a winner just the same. And fear not about casino night, as it even has a preformatted category to track gambling losses. Not sure which one to use? Give each a try, and see which one works best for you!

Spending Tracker With credit being easily accessible and invitations to spend lurking around every corner, it’s easy to forget about the bottom line: our account balances. Spending Tracker is one app designed to identify your spending habits and show you how to live within your means. It’s easy to learn (thanks to an intuitive, user-friendly format), but requires some work—meaning, you’ll have to enter all the data relating to your expenses, bills and spur-of-the-moment purchases yourself.

Can’t be honest with yourself, or don't want your partner to know how often you’re in overdraft every month? Then this probably isn’t the app for you. Want to learn financial discipline amidst your efforts? Spending Tracker is a great place to start.

GasBuddy What’s one of the great North American pastimes? Watching the fuel prices go up and down. And though we’re not as hardcore about it as our southern neighbours, Canadians also love to go searching for the cheapest gas. In that sense, GasBuddy is the perfect app to get this done. Some users complain about the aggressiveness of ads and other usability issues, but it still does what it says it does, and that’s all that matters. And GasBuddy’s not just for big cities. Whether you’re in Lumby, Langenburg or Legal, this app will tell you where the cheapest gas is and how to get there from your current location. How can you go wrong with that? Go do some humblebragging if this one’s already on your phone. t8n

T8N August 2017 23

EGGS

The returning champion of breakfast EGGS HAVE BEEN with us for a long

time, and despite the decades-long health scares associated with them, they’ve come back into our breakfasts and into our lives. With the recent popularity of high-protein and naturalistic diets, many of us find ourselves eating them on a daily basis. They’re healthy, they’re cheap and they’re incredibly simple to cook. Welcome back, eggs. We’ve missed you.

A Storied Past Humans have been eating eggs for longer than any history book can remember, and for good reason. Eggs, whether they come from chickens, ostriches or songbirds, were the ultimate health snack for early hunters and foragers. They’re easy to come by, nutrient rich, and can be eaten in a huge number of ways. In fact, the desire for eggs was so strong for early humans that chickens became one of the first animals to be domesticated. Egg farming began in South Asia about 10,000 years ago, and over the centuries, the practice has spread to every corner of the globe.

A Natural Super-food Eggs are among the highest protein foods available, with a count of only about 75 calories per egg. This fact alone is what made them such a super-food for early humans, and it’s what continues to make them such a popular choice today. But the high-protein content isn’t the only value they have to offer. Eggs are a good source of iron and 13 essential vitamins, all of which you should be consuming daily.

24 T8Nmagazine.com 24 T8Nmagazine.com

DID YOU KNOW? Egg cartons are a Canadian invention. The first egg carton was created in Smithers, British Columbia, in 1911. Prior to that, eggs were stored and transported in baskets. Breakage was such a common problem that it gave rise to the idiom, “Don’t carry all of your eggs in one basket.”

Heart Disease Myths The debate over the true health value of eggs has been raging among nutritionists for decades, and it even continues today.

It all started in the 1950s, when American dietary researchers found some very sparse connections between high-cholesterol eggs and heart disease. The idea of cholesterol wasn’t understood very well at the time, and by linking these two ideas, researchers inadvertently launched an anti-egg craze that would last for decades. These days, nutritionists understand that there are different types of cholesterol and that we need some in our diets to stay healthy. Eating eggs is one of the best ways to get that “good cholesterol” into your diet.

How Do You Take Your Eggs?

What is the best way to eat an egg? It depends on what your diet requires. If you’re cutting back on fats, go for poached

or hard-boiled eggs. These methods allow you to get all of those coveted nutrients without all of the fat content that comes in a frying pan. If you’re looking to maximize your protein intake, make sure you avoid soft-boiled or over-easy eggs. Cooking eggs all the way through helps to break down the proteins into a form that our bodies can more easily absorb. If you want to focus on the vitamin content, the opposite holds true.

Cooking eggs for too long will break down many vitamins and anti-oxidants, and in those cases a runny yolk is your friend.

A Trendy Breakfast This year saw the rise of a new fad that is taking social media by storm: The cloud egg.

Cloud eggs look a bit like fried eggs, but with an egg-white that looks like a fluffy cloud.

How are they made? Separate the egg whites from the yolk and beat the whites into stiff peaks. Then, spread them onto a baking sheet in the shape of a fried egg, make a divot in the middle and place the yolk there.

Bake in the oven until crisp, and make sure to post a picture on social media for all your friends to see. t8n

FUN FACT The colour of an egg (brown, white or even blue) depends on the breed of the hen that laid it. The colour of the yolk, on the other hand, results from the diet of the chicken. Corn feed results in a darker yolk, while grain feed results in a lighter coloured one.

Hand-Crafted

French Macarons

French Macarons, $16 per dozen.

*Also available in gift packs.

Open Tues-Sat 10am-5pm (6pm Fridays) 780 458 2922 I overthetopcakes.ca 2 Sir Winston Churchill Ave (corner of Levasseur Rd), St. Albert

T8N August 2017  25

Then & Now

BANKING IN ST. ALBERT THEN & NOW

YO U R O P TI O N S W H E N it comes

to banking in St. Albert today are virtually unlimited. You can bank with any of Canada’s big five, with a smaller independent branch, with a credit union or even electronically through an online bank. Getting to this point, however, was a long road with a fair share of ups and downs. In fact, for many decades, there were only two options available: bank with the one operational financial institution in town, or hide your money under your mattress and hope for the best.

1910s For St. Albert’s first 50 years, if residents wanted a bank to manage their finances for them, they had to take a trip into Edmonton and visit a bank there. But for a growing town, this was hardly ideal, so in the early 1900s, local business owners united with the goal of attracting a major financial institution to the little town on the banks of the Sturgeon River. In 1912, they achieved their goal when the French-Canadian Banque d’Hochelaga agreed to open an office in town to serve the citizens of St. Albert. It was small at first, consisting of only one small desk in a rented space on Perron Street. But that would soon change.

1920s In 1920, the Banque d’Hochelaga office had become successful enough that it was able to transition into a full-fledged branch. A new building was even constructed to house the branch—the same building where St. Albert’s Art Gallery can be found today.

Though Banque d’Hochelaga was successful within the town, on a national scale, things looked bleak. In 1925, the company was 26 T8Nmagazine.com

Image credit: Musée Héritage Museum, St. Albert Historical Society fonds Bank of Montreal, 1978

bought by Quebec’s Banque Nationale, and St. Albert’s bank found itself under new management.

had competition from the growing credit union movement that was sweeping across the country.

1930s

1960s

In the 30s, Canada was in the middle of the Great Depression, a time when banks all over the country were failing. The purchase of Banque d’Hochelaga by Banque Nationale had only put off the inevitable. In 1937, St. Albert’s only bank closed its doors, leaving residents without a bank for the next 18 years.

In 1962, the Bank of Nova Scotia opened a branch in Grandin Mall, finally giving residents a second option when it came to banking. The next year, in 1963, these options expanded even further when St. Albert Savings and Credit Union opened a full-time office on Perron Street, which allowed them to serve their members on a more regular basis.

FUN FACT Until 1934, currency in Canada was printed by individual banks. Early citizens of St. Albert would have had Hochelaga-branded dollars, whereas Edmontonians would have had Imperial Bank-printed ones.

Everyone agreed though that a dollar was worth a dollar, no matter where it came from.

1970s

1940s While the Great Depression had led to the temporary collapse of Canadian banks, it gave rise to a new financial institution: the credit union. St. Albert Savings and Credit Union began in the early 40s as an alternative to banking. With the absence of any banks in town, this credit union became very popular despite being open only two days a week.

1950s By 1955, the banks had made a comeback, and the Bank of Montreal purchased the vacant Banque Nationale building downtown.

Though it was the only bank in town, it still

By the 1970s, virtually all of the cities and towns in the region had built their own credit unions, and in 1975, many of them (including St. Albert Savings and Credit Union), merged to form Capital City Savings.

Capital City Savings would continue growing for the next 30 years, at which point it would undergo a rebranding and become the Servus Credit Union we know today.

Today Banking today is incredibly stable compared to those early years. Back then, if any one branch had closed or left town, it would have crippled the city. It took over a century to attain this stability, but the effort put in by our predecessors has certainly paid off, and it will undoubtedly be enjoyed by generations to come. t8n

DID YOU KNOW? A bank is a private for-profit company run by a board of directors; a credit union is a membership-based non-profit organization where all members have an equal say in how their finances are managed.

ST. ALBERT SOCCER ASSOCIATION 2017-18 Indoor Soccer

Online Registration: Aug 1–Sept 7 www.stalbertsoccer.com

Edmonton & Surrounding Areas Welcome!

Please visit website for program details and fee listings COMMUNITY SOCCER

• U4–U18 for players born in 2000–2014 • Adult Indoor Programs: Coed & Masters CLUB SOCCER Impact Tryouts Aug 28–Sept 7 • U9–U18 Impact club teams are formed through open tryouts • Pre-registration required SKILLS DEVELOPMENT PROGRAMS Separate registration required for all additional training programs

TALK WITH YOUR FEET, PLAY WITH YOUR HEART! T8N August 2017 27

The 8s

BECOMING A SAVVY STUDENT

Tips for cutting costs at the bookstore THE PRICE TAG on university textbooks is

getting higher all the time, a fact that comes as a constant shock to first-year students.

Depending on the area of study, the final bill is often hundreds of dollars, sometimes even breaking the thousand-dollar mark. If you’re a student yourself or know of someone who is just beginning the post-secondary phase of his or her life, here are some tips on how to keep that bookstore bill to a minimum.

1. Buy Used: This first tip should come as no surprise.

Don’t buy new textbooks if you can help it. Students are always eager to make back a little cash at the end of the semester, so it’s easy to find used textbooks. Publishers are always printing “new and improved” editions of the same book, but quite often, the older versions will get you through just fine. Make sure you know what specific changes have been made to the text before you commit to an older copy, but if you can find last year’s edition for half the price, your wallet will thank you.

2. Don’t Buy Early: Professors sometimes announce their textbook lists months in advance, and it can be tempting for eager students to get their shopping out of the way and maybe even get a head start on the readings.

But many professors use textbooks as supplementary reading materials, and if you don’t struggle with the material, you might find that the whole semester has gone by without you so much as opening the front cover of your $100 book. Always wait until the first day of classes before you start your shopping, and don’t be afraid to ask your professors how relevant the textbooks will be to the course. Don’t be afraid to return unused books if it becomes clear that they won’t be needed, and remember that sometimes the best option is not buying the book at all.

3. Go Online: Online trading sites like Kijiji are full of used textbooks that you can get for a low price. But there is also valuable textbook information out there.

If the students in your faculty have a Facebook group or online forum of any kind, find it and join it. Older students are usually more than happy to share their experiences of last year’s classes, including information about where the best deals are and which older editions still contain all of the current information.

28 T8Nmagazine.com

4. Check Copyright Dates: Make sure to check the publication date on your books. In Canada, copyrights expire 50 years after the death of the writer. For those enrolled in the arts, many of your novels and history books will have entered the public domain long ago, and are available to be legally downloaded for free online.

5. Go to the Library: Whether it’s the public library or your school’s library, you’d be surprised at how many of your textbooks are just sitting on the shelves. This won’t be the case for those students enrolled in the sciences or engineering, but for those humanities electives that everyone has to take in their first year, the library will be your best friend. Science textbooks are constantly changing, but Shakespeare will always be Shakespeare.

6. Consider Rentals: Online textbook rentals are becoming more and more popular, and many publishers are offering rentals themselves. If the price tag seems too high to justify, check to see if there is a rental option. This usually comes in the form of an online textbook that will expire once the term is over, but physical rentals exist as well. Sometimes these prices will be better than buying a used copy to keep, and other times not. Make sure you do your research, but always keep this option in mind.

7. Ask Your Friends: If you have friends or relatives who have gone through the same program as you, chances are that some of them have held on to their old textbooks.

This might be because they wanted to keep them to use as reference materials throughout their careers, or it could be that they just didn’t get around to selling them. Whatever the case, these friends might be willing to lend the book to you for the term if you promise to return it once the course is over.

8. Keep Books in Good Condition: If all else fails, buy your textbooks at full price and sell them when the term has concluded. It’s rare for you to earn all your money back from the sale, but to justify a higher price tag, keep the books as pristine as possible—no underlining, folded pages, highlighter marks or coffee stains. Good luck with that. t8n

STUDENT LOANS 101 Covering the cost of a higher education

BY MARKWELL LYON

THOUGH IT’S A solid investment, a

higher education does not come cheap in this country. According to Employment and Social Development Canada, Canadian post-secondary students (or their parents) paid an average of $16,600 for schooling in 2014 –15.

Over four years, that’s a price tag of nearly $70,000. For many Canadians, that reality means they will have to figure out how to apply for a student loan. But worry not—with a little help, it’s not as intimidating as it might appear.

Know Your Loans The first thing you’ll need to know is what sources of funding are out there. The most common type is the government student loan.

Through the Canada Student Loans Program (CSLP), the federal government covers up to 60 percent of a student’s financial need.

The rest is provided by the provincial and territorial governments. How these governments work with the feds varies across the country.

Here in Alberta, the Ministry of Advanced Education offers provincial assistance alongside federal loans. This streamlined process means that Alberta students need only apply once—to Student Aid Alberta—to get both provincial and federal loans.

Many private financial institutions also offer funds in the form of a student line of credit (LOC). These are flexible, allowing students to borrow money as they need it and to repay it at any time. However, the student will probably need a co-signer. And unlike with government loans, LOC interest rates can fluctuate and students may have to make monthly interest payments while they are in school. Another thing to consider is that you get tax credits for paying interest on a government loan, but not on an LOC. Even so, LOCs can be a good source of additional 30 T8Nmagazine.com

funding, especially for students in professional programs. Check with your bank to see what it can offer.

HOW WE COMPARE Currency services provider FairFX compiled this list of the most expensive places for a post-secondary education in 2016.

The total includes average annual tuition and living cost, in Canadian dollars.

U.S.: $77,200 Australia: $52,800 New Zealand: $48,800 Canada: $40,800 Hong Kong: $32,000 Are You Eligible?

So let’s say you’ve decided to apply for a government loan, as most people do. What are the eligibility criteria you’ll have to meet?

Broadly speaking, you’ll have to be a Canadian citizen, permanent resident or have protected person status. You’ll also have to be a resident of the province or territory where you are applying. Furthermore, the school and program you wish to attend must be designated, and you’ll need to be registered in a minimum number of courses. You will need to demonstrate your financial need, as well. Finally, there are annual and lifetime loan limits that can affect your eligibility.

Keep in mind, however, that there are many fine points and exemptions to each of these criteria. For example, Student Aid Alberta and the CSLP each determine financial need slightly differently. And given that we’re talking about bureaucracies here, the rules can and do change from one year to the next.

Make sure to check the appropriate agencies and their websites for the most accurate info.

The Application Now for the fun part—the part where you get all the money. As mentioned, you apply for both federal and provincial loans through Student Aid Alberta. This is done online (except in some rare situations). If you applied to school online through ApplyAlberta, then you’ll be using the same account. Otherwise, you’ll be prompted to create a new account.

If this is your first time applying, be sure to do so at least two months before the start of school, as there will be further steps before your money will be disbursed.

After signing in to your account, you will start an application for the upcoming school year by filling in information about yourself, your program of study and your finances.

It’s fast and easy, but here’s a pro-tip anyway: before starting your application, have a few things at hand. You’ll be asked for your Social Insurance Number, your Alberta Student Number and the total income from line 150 of your last tax return. You’ll be prompted to provide contact details for an emergency contact, as well. It’s also a good idea to have a breakdown of expenses from your school for the upcoming year. That’s because you’ll be asked to request separate amounts for tuition, fees, books and supplies, and computer costs. You’ll save yourself some hassle if you already know how much you need.

Submit your application, and your eligibility amount will be automatically calculated. To finish, enter how much of this amount you wish to request. If you want to be awarded the full amount, just leave the space blank.

Getting Your Money If this is your first application in Alberta (or your first in several years), a student award letter and the Master Student Financial Assistance Agreements (MSFAAs) will be sent to you. There will be two MSFAAs—one for your Alberta loan and one for your Canada loan. These one-time legal documents set out the terms and conditions for your

loans. You must confirm your personal details and provide banking information before signing the agreements and returning them, along with copies of your ID, through Canada Post. After that, you mostly sit back and wait, and your funds will be disbursed to you at the start of each semester you plan to attend.

Down the Road You can keep your loans interest-free for the duration of your studies either by receiving more loans or by notifying Student Aid Alberta and the National Student Loans Service Centre that you are still in school. Once your studies are finished, you will have a six-month grace period before repayment begins. During this time, interest will accumulate on your federal loans, but not on your provincial ones.

When your grace period ends, you will be asked to agree on a repayment schedule, including the method of payment, the size and frequency of payments and other similar details. Stick with your payments, and you will be debt-free again faster than you expect—and all the wiser for it, too. t8n

TIPS FOR REPAYING YOUR LOAN Here are some helpful tips for paying off your student loans, courtesy of Student Aid Alberta.

1. Make your payments on time.

2. Increase your payment amount.

3. Make payments every two weeks instead of every month.

4. Make extra payments whenever possible.

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CROWD •FUN •DING (n.)

Investors are only a click away EVERYONE HAS A dream project: the

Reward Models

perfect artistic or business idea that would be so successful, if only you could find the money to get started. In the past, to start a big project you would need to attract some private investors or get approval for a serious loan to reach your goal. With crowdfunding, this is no longer the case. Crowdfunding gives creators access to potentially thousands of Internet strangers who are ready to invest in a dream.

The reward model is usually what people think of when they hear the term crowdfunding. In exchange for a backer’s financial contribution, creators will give them an agreed-upon prize.

These rewards typically come in tiers based on how much you’re willing to give and can be something like your name in the credits of the project, a free copy of the finished product or even exclusive behind-the-scenes privileges.

What Is Crowdfunding?

The concept of crowdfunding has been with us for a long time and describes the act of financing a project using many small donations.

Things such as community fundraisers, and even buying war bonds, can all be thought of as forms of crowdfunding. But thanks to the online world, the idea has taken on a whole new life.

In modern crowdfunding “creators,” as they’re commonly known, take to Internet platforms such as Kickstarter or GoFundMe to pitch projects to the online masses. Anyone with a credit card and a shared interest in the project can become a “backer” and donate money to the cause. If the creator reaches their funding goal, they receive the money and can start their project. If the financial goal isn’t met, all money is returned to the backers.

Creators benefit from this process by being able to reach out to like-minded investors that they otherwise wouldn’t have access to. What do backers get out of the process? There are a few different models of backer benefits.

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DID YOU KNOW? New York’s Statue of Liberty and many of Wolfgang Amadeus Mozart’s concertos were crowdfunded projects complete with backer rewards.

Donation Models Donations models are exactly what they sound like: a donation. Backers typically receive nothing in exchange for their support, other than the satisfaction gained from performing a kind deed. This model tends to work best for ventures that don’t produce an actual product, such as charity initiatives or community-works projects.

Equity Models The equity model serves to fund whole businesses rather than specific projects and turns backers into investors. Instead of getting a one-time token of appreciation, backers get shares in the company, potentially leading to a continuous share of profits.

In Canada, equity crowdfunding is regulated.

Unaccredited backers can only invest up to $2,500 into a company. This might seem unfair, but it is designed to protect public interest. Equity crowdfunding projects have a failure rate between 70% and 90%, and the purchased shares can’t be bought or sold on the stock

market. Additionally, these companies are not obligated to be transparent to their investors, so be careful about funding projects like these. The potential reward might be greater, but so too is the risk.

Debt Models With debt or loan models, backers give their money to projects of their choice with the expectation that they will be repaid (with interest) after the project has made a profit.

Whereas banks would perform a detailed risk assessment before giving you a loan, individuals are usually not quite as strict. This model is ideal for risky or niche ventures that banks wouldn’t approve.

Unfortunately for creators looking to use this model, Canadian law dictates that loans of this nature can only be given by accredited institutions, meaning that Canadian creators must seek international backers for their debt-based projects.

Risks Before you start investing in crowdfunding projects, you should know the risks. Many creators are not professionals in their chosen field, and if projects fail or turn out differently than promised, refunds are not guaranteed.

Always do background research on the creator and the project before you invest your money in their cause. t8n

FUN FACT What can be crowdfunded?

Anything you can imagine. Movies, books, games, businesses, festivals, legal fees, tech and more. One infamous 2014 Kickstarter campaign even raised over $55,000 to make a simple potato salad.

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