Getting admission into an institution abroad is one crucial task but knowing the money-saving tips for international students determines how well you will be able to manage yourself in the new country.
The majority of international students worry so much about the process of gaining admission abroad and end up living in debt and trouble during their studies. All this can be avoided if you follow the money saving tips for international students in this guide.
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Money Saving Tips For International Students
Living away from home is no easy task and requires a lot of discipline. Here are the money saving tips for international students.
1. Buy Used Textbooks
One of the biggest expenditures you will make while in college after payment of tuition fees and accommodation is buying textbooks. Unlike high school textbooks, college books are more expensive, but the good part is, you can save some money by buying second-hand books.
Currently, more and more college students are fond of buying used books instead of brand-new ones. Not only will you end up saving money but most used books have notes and highlights that can you more insights while studying and also help narrow down the research you need to make.
If you are interested in getting used books, you can ask some of the seniors in your department or check online. You can check the bookstores around if they allow renting of books, that way you can also end up getting used to textbooks too.
2. Consider Living Off-Campus
Depending on the place of study and university, accommodation fees may be more expensive than tuition fees. Housing expenses is one of the biggest expenses international student faces when they get to their study destination. While it may be more comfortable for international students who are new to a country and their standard of living to live on campus, living off-campus provides the opportunity to save a huge chunk of bucks.
For those new to the country, it is advisable to spend at least one year on campus to adapt to the country’s standard of living before moving off-campus. But keep in mind that whether or not you live on campus, it is more affordable if you have roommates to help cut the cost of living.
Similarly, a good alternative to try out is to consider a homestay program. It is known that international students who live in a homestay have a high chance of success in school. This helps them quickly learn the country’s standard of living, explore local spots with natives and have a home-away-from-home experience all at an affordable price.
3. Get a Job while Studying
Whether you get your admission into a new school as an international student via a scholarship or any other source, it can be difficult to make ends meet. Luckily, most study abroad destinations allow an international student to take up jobs while studying.
Upon arrival, international students are not permitted to take up jobs off-campus until after six months in most countries. You can, however, get a job on campus and begin earning some bucks to make ends meet.
Jobs on campus are not just a means to earn extra money, but they’re a pretty good means of integrating yourself into campus life and making new friends. And after six months, if you want to earn even more, you can take up part-time jobs.
4. Go for Student Discounts
Once you receive your student ID card you can begin to enjoy discounts available to students pretty much anywhere. Take advantage of this opportunity and always go for student discounts!
The most popular places that offer discounts to students range from restaurants and movie theatres to insurance providers and even big tech companies in the country. Apple, HP, and Dell are some of the popular tech companies out there that offer discounts to students.
In addition, many public transportation companies provide discounts to students around their route. This can help you save a ton on transportation. So, always remember to move with your student ID and go for student discounts!
5. Cook at Home
Let me repeat it, cook at home! Meals from restaurants may be spicier and tastier but cooking at home is one of the money saving tips for international students that will help you save a lot of money.
No matter how buoyant you are with money, cooking at home will always be advisable. You can get your groceries weekly and cook by yourself. Otherwise, you will end up spending around $60 to $100 daily on an average meal that most times won’t be satisfactory.
6. Shop at Second-hand Stores
Everybody loves the scent and look of new items, but the goal of money saving tips for international students is to be economical and save money as much as possible. Second-hand stores are excellent places to get yourself supplies while maintaining a bit of frugality.
If you are lucky to find one in your study destination, they often sell men’s, ladies, children’s clothing, books, ornaments, kitchenware, computer games, music, videos, furnishings, and other assorted goods at a very affordable rate.
Also read – Top 10 Richest Universities In The World
7. Keep Track of your Spending
It might not be an exciting task to do, but keeping track of your spending is the way to ensure you don’t overspend your budget and land yourself in trouble.
To start, you can create an income and expenses spreadsheet. The income spreadsheet could contain money from student loans, bursaries, scholarships, parents, and part-time job(s) if you have any. While the expenses spreadsheet should contain all your outgoings such as your rent, mobile phone contract, and transportation fee (if required). This will help you see exactly how much you will be left to spend every month.
Keeping track of your spending is one of the hardest money saving tips for international students to keep, but be rest assured that you’ll live debt-free if you follow this tip and other money saving for international students featured in this article.
Conclusion
Like I said earlier, you will always be tempted to get stuff you don’t need but if you have a well-planned routine to follow and records to keep, you will make effective use of whatever penny comes your way.
Hope you found these money saving tips for international students guide helpful?
Which of the above money saving tips for international students do you find more effective?
Feel free to share with us via the comment section below.
image: University of Pennsylvania