10 Tips to Save Money While Studying Abroad

Monday, Dec 19

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How thrilling it is to pursue your higher education at your dream foreign university! But when you choose to study abroad, the money aspect could be quite the challenge for you. In most cases, the students or their guardians are so engrossed in paying the tuition fees that they often forget that they have to spend a lot more to survive in a foreign land. 

Apart from tuition fees, some main expenses include food, accommodation, travelling and entertainment. However, you do not need to worry anymore. The following list of the top 10 tips or hacks will help you save money while studying abroad and ensure a smooth study abroad experience.
 

  1. Travel Economically or Get a Travel Insurance

    One of the best ways to keep some more cash in your wallet is by getting yourself a frequent flyer account. You can mostly avail of this account for free and use your university ID number for signing up. Additionally, you can keep track of your flights, get notified of delays or changes, and most importantly, avail of various rewards and save significantly there.

    On the other hand, getting travel insurance is worth it. While, some of you might be under the impression that this might turn out to be an unwanted expenditure, but it's not. In fact, many universities abroad make it mandatory for their students to have travel insurance. 

    Travel insurance usually covers the financial cost of lost luggage/belongings, medical expenses, flight cancellation, etc. 
     
  2.  Find Affordable Accommodation

    This is one of the prime concerns of most international students. Apart from your tuition fees, accommodation expenses will add up to one of your major costs and probably your biggest worry.

    Consider living off the campus but close to your university. Likewise, choose shared accommodation with one or two roommates. It will also give you the opportunity to make new friends while saving a handful as well. Moreover, you can save a lot of money if you consider suiting yourself in a dorm or hostel. A few study abroad consultants like KC Overseas Education provide free value added services like helping students find  affordable accommodation within their budget. 
     
  3. Use Budget-friendly Phone Service & Free Wifi

    Studying abroad will require you to make local calls as well as international calls. However, you never know when your phone bill will skyrocket if you do not heed it.

    The simplest way to avail of cheap phone service is by using applications like WhatsApp, Skype and Google Duo. Use such applications to text and call for free simply by availing of free Wi-Fi from your university and other places like restaurants. You can also make cheap calls to your hometown through applications like GoogleFi and Rebtel.
     
  4. Make the Best Use of Your Student Discounts

    Consider getting an ISIC card (International Student ID Card) to get discounts on admission activities, visiting tourist attractions, using public transport, availing metro services, visiting museums, shopping and a lot more.

    It is advisable that you check with your university or even consider the advice of any of the best overseas education consultants, like KC overseas, to get detailed knowledge about this service. In most cases, student discounts are guaranteed and might help you to pay off your insurance deductibles. Therefore, make the most of your student discounts and do not shy away from availing discounts from merchants. 
     
  5. Learn to Cook and Make Your Own Meals

    Learning to cook your own meals is a life hack that includes multiple other benefits. If you aim to save money while studying abroad, then this hack can reward you with more savings. 

    Moreover, cooking your own meals will help you stay much healthier and guarantee your overall fitness. Therefore, plan in advance, shop for groceries at a discount, and prepare your meals on the weekends. Also, you must know that cooking is therapeutic and might be a great stress buster after a hectic day at the university.
     
  6. Shop Only During Garage Sales and Black Friday Discounts

    Setting the first step to fulfilling your dream can get you all excited and might influence you to buy all you need at once, but don’t do it. Stop! Hold on for a while. The wait will be much more pocket-friendly.

    Instead of purchasing furniture and all things necessary from traditional markets, opt for the same from garage sales or flea markets. It’s a lot cheaper there. Similarly, for shopping, look out for seasonal sales like Boxing Day, Black Friday and Cyber Monday to get your hands on some crazy and cheap deals.
     
  7. Look out for Free Entertainment Options

    When you study overseas, you will want to explore and check out new places. Most places encompass some attractive local and tourist spots that are worth checking out.

    So, look out for free entertainment options because big cities have plenty of them. Thus, make the best use of your free time by exploring the idiosyncratic museums, cultural shows and local parks without spending a single penny.
     
  8. Use Your Credit Card Wisely

    Using your credit card might pay off now, but it will definitely become a burden in the long run. Hence, consider using your credit card wisely. Honestly! The concept of buying now and paying later is very unhealthy and often leads to overspending and huge debts.

    However, a credit card comes quite handy in case of emergencies, but do consider paying back in time in order to avoid penalty fees and accrued interest charges. Use a credit card that offers benefits like air miles or cash points to save some money there. You can also redeem accumulated points on buying essential items or on shopping. 
     
  9. Bike Around or Travel on Foot

    Buying a car is not recommended as it's expensive and will tag along with other heavy expenses like maintenance, fuel, road tax and insurance.

    Instead, choose biking around, availing public transport or making commutes on foot. These ways won’t simply accelerate your savings but also help in your overall wellness.
     
  10. Purchase Second-hand Study Material

    Another way to save money handsomely or cut costs while you study abroad is by purchasing second-hand study materials and textbooks.

    You can seek help from your seniors or even avail of your university library services. Moreover, purchasing old textbooks and study materials is also a lot more pocket-friendly.

Furthermore, another smart way to save money while studying abroad is by drawing up a budget and planning necessary expenses for food, rent and travel. Planning your budget will keep you aware, push you to cut down unwanted expenses and hike up your savings. 

If you still want guidance on this matter and some more tips from experts in this field then feel free to connect with study abroad counsellors at KC Overseas! 

Need guidance? Let us help you.

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