8 Tips On How To Cut The Costs If You Study Abroad?
While studying abroad, you may discover that there are lots of expenses you did not plan for. These expenses can really bring a person down; especially if you are one struggling with finances. Thus, if you find yourself in a situation where you need to get a hold of your finances and want to save by all means possible, we have some tips for you.
If you are trying to spend less money, you should know by now that — it is much more difficult to spend cash than it is to swipe your card. Several times, I find myself holding on to cash in hand a bit more than I do my debit card. This is why you’d need to sign up for a local bank account while studying in a foreign country, or check if your own bank has any options in that location.
Have a budget
Take for an instance, you are attending one of the top dental schools in the world, and the dental school cost is giving you very little to spend on other necessities. You’d need to know exactly how much money you have and how much your expenses are. It might be daunting to even take a peep at the figures, but it is better that you know, that way; you can draft yourself a budget plan. This is one of the first steps to take, before you can start saving.
Finding accommodation is the next best thing to plan out while studying abroad. And your best options are to either to stay at a hostel, with friends or an on campus accommodation. It may not be the best environment; having to share your space with others, but it will save you the cost of spending so much. Studying abroad is not a week-long vacation, and so you have to get the most for your money. Make all these arrangements as soon as you decide to study abroad, because hostels can get full fairly quickly.
Be sure to plan your travelling trips during low seasons, to help you save some money. The places you visit will also be quieter and you would be able to get to all the main attractions. Travel on weekdays and after your holidays. Perhaps convince the school to do a group trip so that you and all your classmates get to travel and explore a bit.
Find out from the locals which method of transport is cheapest where you’ll be staying abroad. In some areas, the bus might be the cheapest option and in others, it might be the train. Therefore, when deciding what public transport system to use, make sure it is safe enough for late travels and in case a class runs over time. There is usually a discount if you travel every, you may need to check it out and see if you can buy a monthly ticket.
There are certain benefits that come with being a student, and you need to tap into that. Many shops give you student discount if you present your student card. You need to look up these benefits and make use of every one of them. Some include free travel opportunities as well as sightseeing and museum visits. I do not see why you should not use these benefits, so go right ahead.
Plan your meals
We spend a lot of money on food and many times, it goes to waste. You do not have to live on ramen noodles if you are on a tight budget. But you can plan out all your meals for the week and compile a grocery list. Go to the shop after you have had a meal so that you are not tempted by all the yummy food. It is important that you stick to your grocery list and build your meals around items that are on sale.
Find a job
I know your time is already counted for and that school is keeping you busy. But there are students who pick up part-time jobs to aid their little expenses, and you might benefit from doing the same as well. You could simply apply for weekend waitressing or walking dogs on a Saturday morning. But whatever be the job you pick, make sure it does not cut into your school and study time. Use your extra cash to buy things you cannot afford on your normal budget. This can be your ‘we only live once’ money.
Studying abroad is a great opportunity for anyone, but it comes with its own set of challenges. It’s ideal to make the most of this amazing opportunity but things like money can really spoil that experience. This is why you should try to live within your own means. However, remember that this will not last forever and that after your studies; you’ll have a bit more financial freedom. But for the meantime, spend your time learning about different cultures and make new friends. Gain as many memories as you can and do not sweat the small stuff. This is a story you can tell to people for the rest of your life, so make sure it’s a good one. Good luck on this journey!
About the author: Rebecca Morrison is a content manager and guest post blogger. She likes her work as it is her hobby — writing. Her life credo is “Never give up!” She dreams of becoming an illustrious author and blogger.