Do you ever think about the financial challenges that can arise when studying abroad? Fortunately, there are many ways to save money and take advantage of available aid and discounts.Therefore, we provide you with some tips and tricks to help you manage your budget effectively and enjoy student life abroad.
Tips and Tricks
Explore Job Opportunities: Besides earning extra money, a part-time job can also offer other benefits, such as discounts at certain local shops or restaurants.
There are also countries that offer additional benefits in this context, one example being the Netherlands. When you work, you have certain benefits from the Dutch government (you must work at least 32 hours per month): free transportation (weekly or for the weekend – you have the right to choose), grant (if the annual salary of the parents is lower than a certain amount) – €400/month, grant (if you live alone, away from home) – €400/month, tuition fees – €90/month (this can also apply if you do not work). However, if the student completes their degree within 10 years, then the grants become gifts from the government, and the only money that will need to be paid back is for the tuition fees.
Choose Public Transportation: In many European cities, public transportation can be cheaper and more convenient than owning a car or using taxi services. Look into local options and take advantage of student discounts.
Find Volunteer Opportunities: Involvement in volunteering activities can not only help you develop skills and build your CV but some organizations also provide financial compensation or other benefits for volunteers.
Reduce Food Expenses: Planning and preparing meals at home can be much more economical than eating out at restaurants or fast-food places regularly. Discover simple and healthy recipes and plan your meals for the week.
Budget Planning – The most important aspect is, of course,budget management. Budget planning plays a major role in studying abroad right from the moment we consider making this decision. Costs in a particular country need to be checked, and the budget has to be estimated and planned accordingly.
To manage your budget and make more efficient financial plans, you can access the budget calculator on the FINS website. You can customize your own budget and track expenses to save money and enjoy student life abroad.
Therefore, students studying abroad can maximize their budget and live more comfortably using these tips and tricks. Explore the available options and take advantage of the resources at your disposal to make the most of your study experience in another country.