How to Study Abroad on a Budget: Here Are The Top 8 Tips

I know, I know. Studying abroad is often seen as quite a luxury. But there are actually a few tips and tricks to avoid your study-abroad experience draining your bank account. I am feeling quite generous, so Educatly and I are going to share with you how you can study abroad on a budget. Keep reading to learn how to have the time of your life without emptying your wallet. We got you.

 

Here's how to study abroad on a budget:

1. Hunt for scholarships

You already know about this one. But I’m pretty sure you’re lost in the whole process or in the very first stage of wondering how to even start. Well, once you know, it’s quite simple: ask the University, recruiter, or consultant for the available scholarship opportunities. They will be happy to send you a link or discuss them directly with you. Try asking your home University too; it might surprise you.

 

With a scholarship, studying abroad on a budget would be easy! So don’t forget to fill out every scholarship application you might be qualified for; you never know!

 

2. Book cheap flights

I’m sure you’ve heard of people finding crazy deals, like flying from London to Singapore for less than 100 Euros. But, unlike unicorns (which we all wish existed but know they only do in our wildest dreams), cheap flights are a reality. While it might not be everyone’s reality (as it depends on your home country, destination, dates, and a trillion other things), there are plenty of tricks to make sure you get the BEST deals when booking your flight.

 

Also, don’t be scared of layovers. They are the best way to discover a new country without spending the night there. Plus, flights with long layovers tend to be much cheaper. Fancy a croissant in Paris, anyone?

 

3. Pack light

Overpacking is so 2019. There is not a single person who is glad they overpacked! Traveling light means you're free from the hassle of dragging around your bags and packing and unpacking. Also, people who pack light can save money on baggage fees.

 

4. Choose a cheap destination

Make a list of the top places you’d like to study abroad. Done? Now, go to Google and check their currency. Done? Compare the exchange rate to your own. Search or ask someone in the country for costs of living (accommodation, food, and transportation are the most important). If you don’t have any long-lost friends in that country, we recommend using Educatly and contacting international students and alumni.

 

Choosing an inexpensive destination is always the way to go if you want to study abroad on a budget. Besides, that means you’ll have more money to have fun, and skydiving does sound fun.

 

 

5. Get an international card

If there is one thing scarier than expensive flights, it's credit card international fees (and crazy exchange rates from your bank). I just got chills. Anyways, your bank will make sure to tell you — and try to convince you — that their rates are great. The best. The most fantastic rates around. But actually, on average, travelers spend a minimum of 50 Euros a week just on bank fees. In a month, that’s the equivalent of money you would need for a weekend trip to Italy. Yikes.

 

But there’s no need to worry. There are plenty of international cards, such as N26 and TransferWise, that are here to save the day. No fees and the right exchange rate? Yes, please, and thank you.

 

6. Get a part-time job

If your visa allows it (most student visas allow up to 40 working hours per week), it would be smart to consider getting a side job. Nothing too time-consuming, maybe work as a part-time barista. This could also be a great way of meeting new people and improving your language skills.

 

7. Student discounts

Let me tell you something… your student card will be your new best friend. In many countries, showing it when buying something means you’ll get a beautiful (oh, so beautiful) discount or even a free entrance. Who doesn’t love that beautiful, sweet word? Free. Chills, again.

 

Some examples of places where you can use your student card are:

• Discounts at retail shops (like Topshop)

• Free entrance to museums and events

• Discounted public transportation

• Discounts at restaurants

• Discounted or free Amazon Prime membership and movies

 

8. Stick to your budget

Many of us start with a budget and then quit it after the very first week. After the lattes and avocado toasts, we're left with sorrow, regret, and cash-less. However, this time there are no excuses. You have to make budgeting a part of your routine. Write down your spending at the end of each day (many Apps will help you with this), and organize what you want to spend money on and how much.

 

An example would be using the following format:

• Food (X per day)

• Transportation (X per day)

• Accommodation (X per day)

• Necessities (X per day)

• Extras (X per day)

• Emergencies (X per month)

 

Be realistic. There’s nothing worse than setting an extremely low budget that you will never follow. Leave yourself some margin. That way, you’ll be glad to know that you've saved money at the end of each week or month! If you follow these tips, you’re good to go. Planning ahead is always smart; please, don’t forget to have the time of your life. The world is your campus!

 

These are our secret tips to study abroad on a budget!

 

Now, if you want to study abroad, we can also help you with that. Explore countless study-abroad opportunities on Educatly in any field and degree level you can think of. Just sign up now to Educatly to browse through over 40,000 bachelor's, master's, and Ph.D programs all over the world. 

 

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