“The world is a book, and those who do not travel read only a page.” – Saint Augustine.
Studying abroad is an exciting adventure, but managing your finances while residing in a foreign country can be challenging. As an international student, every penny counts, and smart budgeting is the key to making the most of your experience without breaking the bank. Here’s how you can stretch your money, while enjoying student life to the fullest.
Master The Art of Budgeting
Start with a clear budget. Track your income (Scholarships, part-time jobs, family support) and expenses (rent, food, tuition). There are plenty of budgeting apps that can help you stay on top of your finances. Knowing exactly where your money goes will prevent overspending, and help you identify areas where you can cut back.
Take Advantage of Student Discounts
Your student ID is your golden tickets to discounts on everything from transportation to entertainment. There are varieties of student discounts available across the uk. Apps such as Stagecoach, UNiDAYS, and Student Beans offer loads of discounts for numerous shops and transportation means available for use by students.
Cook at Home
Dining can drain your wallet fast. Instead, learn to cook simple healthy meals at home. Not only will you save money, but you’ll also get a taste of the local culture through grocery shopping and experimental recipes. Consider meal prepping to avoid the temptation of dining outside when you’re too busy too cook.
Share and Save
Splitting costs with roommates or friends is a great way to save. Share rent, utilities, and even groceries to reduce individual expenses. Also, look for used textbooks and borrow them from the library instead of buying new ones-academic resources can be a significant expense.
Find Affordable Housing
Housing is often the biggest expense for students, apart from tuition fees as an international student. Carry out an immense research on university dorms (located on Stag Hill campus, Manor Park and Hazel Farm), shared apartments, or private accommodations near the University of Surrey such as Scape, Guilden Village, Bankside, Ash Grove, The Bridge, and UniLife.
Explore Free Activities
Being on a budget does not mean you have to miss out on fun. Many universities and cities and offer free events, from cultural festivals to outdoor movies and student clubs. Take advantage of these opportunities to connect with people, explore your surroundings and enjoy life without spending a fortune.
Work Part-Time
Many countries allow students to work part-time while studying. A job does not only enable you to earn steady income, but also helps you to gain valuable work experience. Just ensure you strike a balance between your work and academic responsibilities.
Be Smart with Currency Exchange
If you need to transfer money between countries, watch out for fees and unfavourable rates. Use services that offer low rates and competitive rates. Some banks may offer lower fees for international students and better terms.
Plan Your Travel Wisely
Traveling is a huge part of studying abroad, but it can be expensive. Book flights and accommodations in advance. Use student travel agencies and explore budget-friendly destinations. Traveling during off-peak times and utilising public transportation can save you tons of money.
The Bottom Line
Being an international student comes with unique financial challenges, but with careful planning and smart choices, you can enjoy your time abroad without having to constantly worry about your money. So, embrace the experience, live within your means, and make memories that are truly priceless.
