7 Ways to Save Money while studying abroad
Author : Sridhar Kongara | Published On : 26 Apr 2021
Got your visa approved and excited to study abroad. Many students face challenges with their monthly budget and spend for the things they don’t need.
Despite popular belief that studying and living abroad is costly you can earn and save while studying with these tips.
Being a group of Overseas Education Consultants our tips have helped our students to cut down their living expenses and save considerable amount of money to support their further education or rest of the fees.
If you want to save money while studying abroad and wish to minimize expenses follow these tips and contact us for customized budget plan to help save your money.
Student Discounts: The first and foremost thing any international student ought to do is to get a student card. You can get special student discounts up to 30% for your public transport and can save on entry tickets as well tourist destinations. Many of the tourist attractions has special day for International students with which they can avail maximum discounts.
Accommodation: One of the major expenses while studying abroad is accommodation which constitutes up to 50% of your budget. It is always advisable to use share accommodation with fellow students or friends which can help you to reduce costs by 20%. It might look small but in the long run it will help you to save considerable amounts of money.
Transport: Make use of local transportation or commute by foot or buy yourself a bicycle which will help you to minimize transport expenses. Public transportation is quite expensive and an alternate to save on transport is to look for accommodation near to University within 15 or 20 minutes walk able distance. This will help you to cut down on transport cost and save money.
Part time jobs: Majority of International students do part time jobs to help them support with their living expenses. Most of the countries legally allow international students to work for 20 hours/week. Work for the legally permissible limits and concentrate on studies as well as the main purpose of living in a foreign country is for Education.
Minimize expenses: Don’t expect to live a rich life same as in home country if you cannot afford it. Cut down on costs like Shopping, Eating out, Partying and spending on unnecessary items and make a track of all the expenses so you can plan out how much costs can be reduced for the coming months.
Do your own work: second to accommodation food & laundry constitutes 30% of your total budget. Cooking by yourself, doing your own laundry will help you to cut down costs. Cooking by yourself necessarily doesn’t mean that you can cook whatever you feel like eating. Spend most of your budget on veggies and include meat only on some special occasions where you feel like it is important to celebrate.
Stick to budget: Make a budgeting of everything and on which necessity how much do you need to spend. It will help you to minimized unnecessary expenses and be able to spend on what is more important. Make sure you stick to budget plan otherwise you might regret later for the un necessary expenditures.