We all dream of studying and living abroad and trying out new things before real life sets in. Then reality strikes like a sledge hammer with one word, “Expenses”. When we think about being away from home, the first word that comes to mind is ‘expensive’! But trust us, there is absolutely no need to worry! Here are the secrets to studying abroad and saving a few bucks along the way.
- Set up a Budget!
Before you do anything, set up a budget. This is key for your survival (or at least the survival of your wallet). By budgeting, you can minimize your spending and expenses by setting up a limit for your spending. This will help you monitor and plan accordingly. Don’t just make it, stick to
- Try out a Part Time Job!
This is a very foreign idea to most of us but it’s a must try when studying abroad. Most cultures highly value students who study and work simultaneously so it’s a good way to assimilate into a culture. Working part time will also help increase your cash flow which will make budgeting easier. Putting aside the money factor, a part time job is a good way to meet new people and have fun! A new and beneficial experience.
- Take the Bus!
Although we are not used to public transport back at home, it’s a must when studying overseas. Not only will it help you save on expenses (A LOT) but it will also save you time (double the win). It may take sometime for you to adjust to the idea but believe it that public transportation will be your savior.
- Avoid ATMs as Much as Possible!
If you are using an international card then the best thing to do is take out lots of cash at once (but don’t take that as an excuse to spend it all quickly). ATM’s charge a mean fee when using an international card so take advantage of this fact and don’t let them steal from your budget.
- Learn To Cook!
We all love food. There is a very VERY big temptation to try all the new restaurants when moving to a new country. If you plan on saving, try avoiding eating out as much as you can. This can save a lot on your budget and will help you learn a new hobby; cooking. Make eating out as a treat once or twice weekly, rather than a daily thing to give it some specialty.
These are the most basic ways to save money and although they may seem minor, trust that they will save you a lot because these daily expenses build up to count for a big part of your budget. If you can plan and manage your expenses efficiently by implementing these tricks then you and your wallet can survive comfortably on your journey abroad.