7 Budget-Friendly Tips to Save Big on Study Abroad Costs

Living and learning in a new country is an experience that is unforgettable and so is the financial expenditure associated with it. Between tuition fees, accommodation, and living expenses, it’s easy to find yourself feeling overwhelmed. 

However, with the right strategies, you can enjoy your study abroad experience without breaking the bank. With this listicle, you can save money while pursuing your studies abroad, and that too with no additional stress or compromise.

1. Choose Shared Housing for Cost Savings

Accommodation is likely to be your biggest expense. Shared housing offers significant savings compared to single apartments.

Consider options like:

• Student dormitories
• Hostels
• Finding roommates to share an apartment

Research online forums and social media groups for international students in your chosen city.
Sharing accommodation can help you save a considerable amount of money each month.

It also makes your overall expenses more manageable.
*Bonus: Sharing a space with other students is a great way to meet new people!

2. Utilize Student Discounts for Maximum Savings

Student life offers many hidden perks, including discounts. Take advantage of student discounts available in your host country.

Discounts are often available for:

• Museums and attractions
• Restaurants
• Transportation services

Always carry your student ID and ask about discounts when making purchases.
Use apps and websites that aggregate student discounts for faster deal-finding.
These small savings can accumulate significantly over time. Consider student discount cards, such as the International Student Identity Card (ISIC), which offers discounts in multiple countries.

3. Use Your Credit Card Wisely

While convenient, use your credit card wisely to avoid unnecessary debt.

Look for credit cards offering:

• Rewards
• Cashback
• Points redeemable for travel or essentials

Pay off your balance in full each month to avoid high interest charges.
Consider cards with no foreign transaction fees to save on international purchases.

4. Use Public Transport

Traveling by taxi may seem convenient but can be expensive. Public transportation is a reliable and affordable alternative.

• Use buses or subways to explore your city and nearby areas.
• Walking or biking is another cost-effective option that also keeps you healthy.
• Research the best public transport options in your area.
• Take advantage of any available student discounts for transportation.

5. Apply For Part-Time Jobs

Taking a part-time job can help you earn extra income while studying abroad.
Many countries permit international students to work a limited number of hours per week.

On-campus job options include:

• Teaching Assistant (TA)
• Research Assistant (RA)
• Library or cafeteria positions

These jobs often provide flexible hours that accommodate your study schedule.
Check visa regulations in your host country for any work restriction.

6. Learn to Cook and Make Your Own Meals

Rapidly depleting budgets is a common issue for study abroad students, often due to dining costs. Learning to cook can help you create healthy and delicious meals at home, significantly reducing expenses.

• Consider meal prepping for the week to avoid the temptation of convenience foods and last-minute takeout.
• Start with simple recipes and experiment with local ingredients to blend flavors from your homeland with local culture.
• Cooking for yourself saves money and allows you to immerse yourself in your new environment.

7. Shop Smart: Take Advantage of Black Friday and Seasonal Sales

If you’re eyeing substantial savings, you definitely need to time your savings. Events like Black Friday, seasonal sales, or end-of-season clearance are excellent opportunities to purchase new clothes, electronics, and other necessities at a fraction of the price. 

Keep an eye on local sales events and use them to stock up on essentials for the semester. Sign up for notifications from your favorite stores to stay updated on upcoming sales.

Quick Tips To Remember

• Create a Budget: Outline your monthly expenses and stick to it.
  
• Use Student Pricing for Travel: Many airlines and rail companies offer discounts for students, making it cheaper to explore your new country.
  .
• Join Student Organizations: These groups often host free or low-cost social events that allow you to meet new people without spending money.
  
• Use Free Resources: Libraries, community centers, and local events can offer free entertainment and educational resources.

If you need help planning your dream study abroad experience, then book an appointment with our expert counselors at Maven Consulting Services. We have helped many students fund both their program costs and stay at affordable prices.

From guiding you through the application process to choosing a budget-friendly course to offering valuable financial advice specific to your chosen destination, we at Maven can make your study abroad dream an attainable reality!