Study Abroad
Photo from Canva
By Geetika Arora
Studying abroad is an exciting experience, but managing finances can be challenging. Here are 10 tips to help you manage your money while studying abroad.
Video from Canva
Creating a budget is the first step in managing your finances. Determine your expenses and income and allocate money accordingly.
1
Photo from Canva
Research the cost of living in your destination country to better understand expenses such as food, transportation, and housing.
2
Photo from Canva
Finding affordable housing can save you a significant amount of money. Consider options such as shared apartments, homestays, and university housing.
3
Photo from Canva
Using public transportation is a cost-effective way to get around. Purchase monthly or weekly passes for further savings.
4
Photo from Canva
Cooking at home can save you money on food expenses. Visit local markets and grocery stores for fresh and affordable ingredients.
5
Photo from Canva
Many businesses offer student discounts. Carry your student ID and look for discounted rates on transportation, food, and entertainment.
6
Photo from Canva
Entertainment expenses can add up quickly. Limit expenses by exploring free events, visiting museums and parks, and taking advantage of student discounts.
7
Photo from Canva
Using credit cards can be convenient, but it’s essential to manage them responsibly. Pay bills on time and keep track of spending to avoid accumulating debt.
8
Photo from Canva
Mobile banking apps allow you to track your spending, pay bills, and transfer money from your phone.
9
Photo from Canva
Earning extra money can help offset expenses. Consider part-time jobs, tutoring, or freelancing to supplement your income.
10
Photo from Canva
Managing finances while studying abroad is crucial to making the most of your experience. Follow these tips to stay on budget and enjoy your time abroad.
Photo from Canva