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How to save money when studying abroad?

How To Save Money When Studying Abroad?

Living abroad on a student visa comes with a lot of difficulties and financial strains are one on top. Although many say that it doesn’t have to cost a fortune, no doubt they are right, but managing money gets tougher and tougher if not done from the beginning. That’s why we have created this blog for you! Read along.

Top schemes to save money…

1. Budget your finances

Learning how to budget before travelling abroad makes it a beneficial skill for students as it helps in making a count of all the extra expenditures that makes your money last only for a beat of the heart.

To start with, you make a list of all the things that you regularly spend on in a day, deduct the essential items’ cost, like travelling rent and food. Whatever that you are left with is the extras that you can skip out the next time when you buy it.

2. Give up buying coffee

Having a sip of coffee on your way to work or college relieves your morning kips. However, this also costs a fortune if you think about it. Almost $3 a coffee/day adds up to $1.1K when you just have one coffee in a day.

But if you make it yourself, you can add the saved amount to the savings account!

3. Make the most of the transportation

When you are new to the country, it may seem like taking an uber is the only option as you don’t know much about the nation. However, working your way up to the transportation system and understanding the routes and structure, you should apply for a pass for the public transport.

When travelling to work or college, you can stop uber-ing or using a taxi. Instead, you can start bicycling and even taxi-pooling to save up all that money.

4. Aim for shared accommodation

This is the sole factor that can either give you monetary strains or help save up the most. Living with friends and families is definitely a great way to avoid emptying your pockets. A shared unit/apartment/house comes with shared costs of groceries and other utility items.

In addition, one of the perks of living with others is that you have great company to come back home to.

5. Use the student discounts effectively

Every city in every country has special discounts for students that you must not feel embarrassed to ask for those. Often times it is observed that students do not ask for discounts for movie tickets, restaurants, train tickets, and sports events. Although this

For this, you will need to carry your student ID card, everywhere that you go and avail the benefits of discounts.

The ISIC card gives you UNESCO-endorsed proof of your student status. With this card, you’ll have access to over 150,000 student discounts across 130 countries.

6. Make the best use of Credit Cards

One smart way to save money is to start using earning credits by using credit cards. Although a risky hack, it can become useful in a lot of ways when it comes to saving chunks of money while also building a credit history. To start, you should apply for a credit card from a bank that gives you points or credits every time you use it. You can even apply for an Airline credit card that will give you “air miles” helping you get huge discounts for air tickets.

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