Smart students who go to study abroad are not just bright in the exams. They are also smart enough to lead their lives in a small budget. But if you are not sure on how to save money, read our article to learn about the tricks to not run out of cash.
You have to stop daydreaming and check your temptation about several things. Of course, you cannot cut out the necessary expenses, but there is something that you can do. Learn to here are lots of smart money hacks for international students who come to study overseas.
Learn to budget
When you come to study abroad, there are plenty of unforeseen expenses. You have to plan a budget and stick to it as you need to manage your money abroad. Even after moving to a place with a low cost of living, you might fall short of cash if you are not spending wisely. Budgeting can be daunting at first, but soon it will help you conserve your savings.
Look for student discounts
With a UNESCO-endorsed proof of student status, you can avail of over 150,000 student discounts across 130 countries. While you study overseas, enjoy discounts on accommodation, entertainment, food & drink, etc.
Use public transport
Private cabs and cars burn a hole in your pocket if you are studying abroad. Find out which public transportation is suitable for you as they are very cheap. Buying monthly tickets and passes can reduce your expenses further.
Search for part-time work
For a student, working alongside studies is a great way to earn some extra money. Most students studying abroad can manage quite a few hours alongside their studies. Students can research the kinds of work available in their city and start applying for them.
In some cities, you’ll find that there are ways to make money fast by helping out family, friends, or neighbors with work.
Take your spouse along with you
Your spouse can help you out gaining money by working part-time. Some countries like the UK allow you to take your spouse on dependent visa and He/She can work and help you in the financial aspect.
Cooking local dishes
Depending on where you study, eating a certain kind of food can be not only tricky but also expensive. Use your time while you study abroad to learn to cook some local dishes. You’ll save money and alongside get a taste for the country’s cuisine.
Open a savings account
Watch out at what you’re spending and calculate where you can save. A savings bank account is where you deposit some money periodically when you study abroad. Get organized with your budgeting and be smart and intentional with your money.
Cancel memberships that you don’t use
Canceling a membership that you no longer use can save you a lot of money, fast. If you have subscriptions to several clubs that you don’t visit and show which you don’t watch, it’s time to hit the cancel button. Once you cancel them, you’ll be grateful for the extra cash left with you.
Live in a city with a low cost of living
Higher education can be expensive in some places but cheaper somewhere else. Choose a city where the standard of living is affordable. You will be able to save a lot of money if the house rent and cost of living and transportation are moderate.
Cut on transportation costs
If you hail cabs now and then, it’s time to resist your temptation. Stop Uber-ing everywhere and start biking or walking. They will definitely save your budget while you study overseas and make you stay super-fit.
Use coupons and vouchers or buy second hand
As a student currently in the position to study overseas, use coupons and promo codes to save money while buying stuff. eBay and Amazon offer great deals on new or refurbished products. You don’t need to buy everything brand new or at full price.
Sell your gently used things
Buy, trade, and sell used goods online or offline for some fast cash. It is a hugely popular trend for students who go abroad to study. Search a consignment shop near you and pack up all those goods you that you can sell out. With online websites, you can even sell clothes from the comfort of your home.
In drawing things up to the conclusion, look for scholarships or other fundraising activities that you can do to have some extra money with you. Scholarships give you money and, at the same time, make your resume stand out. It is something that you must try.