Best Ways to Save Money While Studying Abroad

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Sunday — March 05, 2017

By:Study Abroad

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Studying abroad is a once in a life time experience which requires a great deal of efforts and resources. Only students who study abroad are those who really had a wish to go to a foreign country in order to experience a new world full of opportunities, understand world and system better and get quality education. It is no secret that studying abroad can be quite expensive no matter where you are from and where you go. When you go abroad, you will enjoy a lot in your starting days but as the time will pass, you will start to come to harsh reality of the world. This world runs on money. If you want to survive in this world then you must have resources.

If you run out of cash while studying abroad it can cause a little more than just one problem. You will not only have to leave study, you won’t have any place to live nor to eat and eventually you will be deported back to your home country. Why you will run out of resources? There can be multiple reasons for that like there will be huge difference between the prices and currency rates of your country. For more details here see, Unexpected Hidden Expenses You will Face While Studying Abroad. You do get used to these hindrances but everything takes time. When you hit the time when you realize that you longer have the liberty to spend, you see for every way to save as much money as possible. In this article, I have shared all the best ways which can really help you save a great deal of expenses. It is recommended to follow these instructions from the start of the time you move abroad.

· See Also: What City You Should Go in Germany to Study Abroad

6 - Befriend Natives:

It is a great way to save money while studying abroad if you understand. If you are friends with the native and locals of the country, it can help you a lot. Natives of a place know everything about it. They know how to live, travel and spend smart. Just like you know every place in your town or city which are good to visit, who have good food and that are not very costly. If you befriend them, they will take you to places, you did not know about before. They can also help you avoid frauds and cons that, as a matter of fact, save money otherwise they might get double of price out of you.

5 - Use Cash Only:

There are two major reasons to use only cash instead of debit and credit cards. First you must be aware that use of

ATMs, debit and credit cards cost you extra because of the tax deduction and other than that always remember that banks are evil. They also have many hidden un-notified deductions that do not pay heed to. Most developed countries have a higher ration of tax and using it again and again is not recommended.

Now to the second reason why you should not use debit and credit card and use cash only in order to save money while studying abroad. Using cards is like using virtual money which kind of makes you feel like you have not spent much as it is not physical. Using cash a better knowledge of your expenses and helps your keep it in control.

· See Also: Complete Guide to Study Abroad in Canada

4 - Don’t Eat Out:

Eating out at corners and restaurants cost you quite much compared to if you cook at home. It is always the best choice to cook at home because you not only get quality food according to your own taste but you also don’t have the risk of food poison and other bad things. In countries like United States and United Kingdom, restaurants are way too much expensive for an international student to afford. Other choice is fast food which might be cheaper than restaurants but you can’t eat it as it is not very healthy and still costs more than cooking yourself.

3 - Use Skype:

Using Skype will also help you save as it does not cost you anything and with connects you with your family and friends. Calling international numbers is quite costly and you will definitely have a regular urge to talk to your friends and family. With Skype you can easily video chat and even do conference calls that makes it more the service and lesser the cost.

2 - Live Inside University:

Try to get accommodation in university dorms they can help you save money while studying abroad. University dorms are a lot cheaper than renting an accommodation of your own like a house, room or flat. Other than that university hostels also provide the facility of mess which gets you cheap food. If you live in your university dorms, you will quite a hustle and bustle of friends and other fun games with your other classmates. It also helps you in group study and living inside the university will save you the cost of traveling.

· See Also: How is Italy as Study Abroad Destination

1 - Keep Log of Expenses:

Keeping log of your expenses is the best way you can save money while studying abroad. You can regularly write everything you spend and on what you spent. This way you know where all your money is going and if you spend more than needed on something you will know and in future will be able to control it. You can find many applications online that you can install on your laptop and mobiles that will provide you not only a good user interface with that it will also store all your expenses. Otherwise you can also simply write on notepad or keep a little book with yourself this is what I do. As you spend any money, just write it down and have target set that must not be crossed.