How can I save money while studying abroad?

You can save money by creating a budget, cooking your meals, and exploring affordable accommodation options.

Are there scholarships available for international students?

Yes, many universities and organizations offer scholarships and grants to support international students.

What's the best way to handle currency exchange while abroad?

Use reputable exchange services or ATMs to get the best rates, and consider a multi-currency bank account.

2021-06-15 |

Study Abroad

How to Manage Your Money While Studying Overseas

Which country is best for earn money while studying?

By Grad-Dreams

General

HOW TO MANAGE YOUR MONEY WHILE STUDYING OVERSEAS?

Studying abroad is a popular aspiration among the youth. It has several benefits. Studying abroad gives you access to some of the best international curricula and exposure to various cultures; you develop newer perspectives, and you get to build global connections. The most important part of studying abroad is managing your finances.

#Here is a list of measures you can consider to manage your money while studying overseas.

Plan Your Budget

First of all, you must have a planned budget. You should review your financial status, allocated a sum for your monthly expenses such as rent, groceries, bills, transportation costs, books and stationery costs, laundry expenses, recreational activities. It is essential that you keep aside a portion for unforeseen emergencies.

The habit of creating a budget and abiding by it will help you in the long run as well.

Local Bank Account

It is essential that you have an account with the local banks in your chosen country. Make sure you read and compare different banks' services and select the one that best suits you.

Take Advantage of Students' Discounts

Most counties offer student discounts, and you must take advantage of this. You can get student discounts on public transports, parks, libraries, etc. Students are also offered special discounts for attending seminars, lectures, and other such events in some countries.

Spend Smartly

When you travel to a different place, it is worthwhile to explore the city you live in. However, you must ensure that you do not spend all your money on travel or recreational activities. In fact, there are a few measures you can take to reduce your daily expenses. Instead of living alone, you can share your apartment; you can purchase the student pass for local transport, buy from thrift stores or community stores, cook your food at home. You can also buy used books instead of pursuing new copies. Taking these small steps can have a significant impact on your finances.

You must consult your local friends before you go out to shop. Your friends will know shops where you can get maximum discounts or commodities at affordable prices.

Find a Suitable Part-time Job for Yourself

To cover their additional expenses, usually, international students take up a part-time job. Most countries allow students to work 20 hours a week. Before you take up a job, you must read the rules and regulations associated with it.

The part-time job should be simple and should not require you to invest a lot of your energy and time. Your primary focus should be your degree program. You can also take up freelance jobs in fields such as blog writing, photography, graphic designing. This way, you can work at your own pace and also earn an income.

Contact Grad-Dreams experts for the best international education plans.

If you wish to study abroad, contact Grad-Dreams for the best international career plans.

#Grad-Dreams Education Consulting Pvt. Ltd

Grad-Dreams Education Consulting Pvt. Ltd is a global education and career service company. It is certified by the American International Recruitment Council. Mr. Sunit Survase founded the company in 2003. Grad-Dreams is an ETS Certified Test Administration center conducting GRE and TOEFL exams. It also looks after the registration for the IELTS examination.

Grad-Dreams believes in delivering a smooth experience for students who seek international education. It examines several aspects such as the student's interest, financial status, career options and helps students make the right decision while choosing their degree program and the university.

Grad-Dreams helps students to manage their finance and arrange for student loans.