Studying abroad will gain you the praise-worthy credentials you always dreamed of, but will lose you heaps of hard-earned greenies. Maybe the credentials are not what you’re after. Maybe it’s just the desire to travel the world, visit a new place, immerse into a new culture, and gain the experience of a lifetime.
Regardless of what your intentions are, you will, at some point, be worried about budget constraints. Add your tuition and living expenses to the cost of travel, visiting tourist attractions, amazing must-try-out foods, events fees, and what not. College life is expensive! And when you’re living abroad, you can forget about a happy wallet full of cash.
So, is there anyway you can save money and spend an adequate amount that will still allow you to do everything you want to? Learn the secrets to saving money and you won’t have to cut down on any fun activity on your list.
1) Monitor TheExchange Rate: In case you didn’t know (let’s hope you do), the exchange keeps fluctuating from time to time. So, your incoming earnings measured against the currency of your host country could vary overtime. In simple words, there could be times when your home country’s currency converts to a lot of cash and there could be times when the same amount converts to less. If you’re exchanging a small amount, it might not make a huge difference. But if you’re exchanging a large amount, you might want to check the exchange rate and see if you should wait for a time when your home country’s currency is worth more, or simply apply elsewhere.
2) Look into Scholarships: Can you work really hard to improve your grades and apply for a scholarship? Almost every school offers scholarship opportunities to students who manage to obtain high grade point averages. Check out your school’s scholarship options and see if you meet those requirements. You could also check out the scholarship directory on GoAbroad.com. These grants could take care of a large portion of your tuition fee and more (depending on what they offer). That way, you won’t have to worry about your “leisure” spending.
3) Travel with Low Cost Airlines: If you’re more of an adventure lover, you won’t mind the low cost airlines that are available to students. Many of these airlines offer packages and deals which are definitely worth looking at. You can possibly forgo the fancy lunch option and other services to save up some cash for adventure elsewhere.