Wednesday, 19 August 2020

How to Live on a Budget as an International Student

How to live on a budget as an international student One of the biggest hurdles an international student faces is the issue of expenses. On a tight budget, students are often expected to manage a list of tasks. With the constant struggle of having to manage finances, it becomes difficult for students to enjoy their education abroad. To ensure that you are not met with this issue on your journey abroad, it is best to plan ahead of time and lay a plan of action. Research goes a long way and this will help you ensure that you have a smooth experience abroad. 

Here are some tips on how you can have an enjoyable experience abroad and at the same time manage your budget. Outline a Strategy Depending on what suits you the best, make a weekly or monthly budget. List all the expenses that you are expecting to incur and list down provisions of how you are going to manage the same. It is great to plan your meals in advance and buy groceries ahead of time. Make sure that you also take into consideration the cost you will incur when traveling. It is best to take a pass and many services offer discounts to international students. 

Making a Budget As mentioned earlier, it is important that you set a budget. Planning your expenses ahead of time will go a long way in helping you. Don’t treat your budget like a piece of paper and make sure that you adhere to the same. It is important that you incorporate provisions for any unforeseen circumstances. Visit Local Stores Its rightly said that familiarity breeds contempt. It is natural to be drawn towards international stores and brands that you have earlier heard about. However, when in Rome be like the Romans. Keeping this thought in mind it becomes necessary that you interact with the locals. Visit the local stores, these stores tend to have great discounts and also offer great produce. It is likely that you have a local store near your accommodation, make sure to visit them. Since it is a local store you can expect to receive cheap products.

 As an international student set on the endeavour to study abroad, make sure you don’t splurge on outside food. By visiting these local stores, you not only ensure yourself economically, quality products but can make sensible decisions. Buy some of the staples that you need which will help plan meals at home. These stores also tend to have happy hours, so make sure to check them out as well. Use Apps As mentioned earlier, make sure to use passes that a range of transportation facilities offer. One such card includes the Oyster Card, which is a payment method for when using transportation facilities in London. Likewise, several study abroad destinations have their individual facilities. Moreover, several restaurants, shops and, a range of other establishments also have their own apps. By downloading these apps, you can make yourself privy to discounts, codes and coupons which come in handy. Remember to Have Fun While it is important to ensure that you remain on a budget, don’t forget to have fun. Enjoy your overseas education experience to the fullest.

 Ensure that you live beyond the walls of your class and the pages of your books. An integral component of your education abroad is the interaction you have with people. These interactions go a long way and come in handy when undertaking networking activities. It is rightly said that the connections you make at this stage in your life come in handy in your professional endeavours. Thus, it is very important that you indulge in going out, ordering takeaway and have fun as an when it permits. Other ancillary factors to consider are exchange rates, interacting with locals and curating your bank account.

 In most cases, your current local bank will have an international outlet as well. Keep a track of what your spending are. As an international student, you are likely to undertake part-time work as well. Part-time jobs are not only important because they allow you to put the knowledge you learnt in the classroom to practical use, but it also allows you to earn some extra money. The exposure you gain whilst working in a foreign country is unparalleled.

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