Pursuing an education abroad is every student’s dream. This move would be great for their academic growth, as abroad universities are well-known for their high standards of education. But before taking this step, you need to think about the finances. Living in a foreign country will obviously hike your expenses, and you should be financially prepared to deal with them.
Do not worry, you can easily manage your budget if you play it smart. Here are 6 effective tips that you should follow in order to save money while studying abroad:
Saving money even involves getting the best deals on flight tickets. When you are living abroad, you would ideally look to visit home for the holidays. During these visits, students usually spend quite a lot as airfare is not cheap. But please note that there are many airlines that you can choose from, so you should always compare between a couple of them in order to get the best ticket prices. Also, since there is such fierce competition between the airlines, they keep coming out with discount offers on their flight tickets, so keep an eye out!
You get a fair idea of your expenses once you start living abroad. Of course, the loan you have taken along with your savings will take care of your academic expenses. But you might still feel the need of some extra funds for your expenses. This is where getting a part-time job can help you do just that. You are at liberty to get a job depending on the country that you are in. This is because each one may have different rules regarding the work permits of international students.
When students live away from home, they often get into the habit of ordering food. While this may seem like a great solution for the meals, it sure isn’t for the pocket. Learning how to cook and eating home-cooked meals is not only healthier but would also be cost-effective.
A lot of students do not know this, but there are many services that offer discounts to students. All you need is your student ID card for proof, and you will be eligible to avail these student discounts. Whether you want to go to a store to pick up some new clothes or a restaurant to grab a meal, always check if these places offer student discounts, as this could end up saving you a lot of money.
Swiping your credit card to make payments is very convenient, and can become an excessive spending habit. This is why you should try and withdraw cash only once in a month for all your expenses. This would keep your spending in control, thus avoiding unnecessary expenses.
So, these were some effective tips that you can use to save your money while studying abroad. Apart from these saving tips, it is more important to ensure that you have sound financial backing for your expenses. We at Avanse can help you with an education loan that will do just that, so please get in touch with us for any assistance that you need.
We hope that this article has been helpful to you, all the best!