5 Hacks to Save Money While Studying Abroad

Money is really important in life, but for students who study abroad and can only work a few hours a week, it's especially crucial to save for things like tuition, rent, and other expenses. For students who have just started earning money, managing it can seem overwhelming, making it hard to save. To help you save money, we’ve compiled 5 hacks to save money while studying abroad. These tips will help you have a fantastic time without spending too much.

Avail Students Discounts and Deals

A great way to save money is by taking advantage of student discounts. Many cities offer discounts for students on things like transportation, food, and entertainment. For example, you might find cheaper or even free public transportation passes for buses, trams, trains, and subways. Some airlines offer discounts if you have an International Student Identity Card (ISIC), which can also get you deals on flights and places to stay around the world.

Local stores, restaurants, and attractions often have special deals for students, like "student nights" with lower prices. Places such as Domino’s and McDonald’s sometimes offer special deals or free items to students. Don’t forget to ask about discounts whenever you visit a new place or shop.

Mr. Jamil Ahmed, the study abroad consultant at HS Consultants (Pvt.) Ltd. adds, “check if your university has any partnerships with local businesses. Many universities offer discounts on things like gym memberships and textbooks through these partnerships.”

Here are a few companies with student discounts:

• Apple: Offers lower prices on MacBooks, iPads, and accessories, and sometimes free AirPods with a purchase.
• Microsoft: Provides discounts on Surface devices and free access to Microsoft Office 365 for students.
• Nike: Gives discounts on shoes, clothes, and accessories when you prove you’re a student online.
• Fitbit: Occasionally offers discounts on fitness trackers and smartwatches for students.

Budget Wisely

(insert an image a person tracking budget) Managing your money well starts with creating a budget. Begin by listing all the things you need to spend money on, such as tuition fees, living expenses, and fun activities. Don’t forget to include costs like rent, utilities, food, transportation, and any one-time expenses, like travel insurance.

Using budgeting apps can be really helpful. Apps like Mint or YNAB (You Need a Budget) can track how much you spend and help you stick to your budget. They organize your expenses and send alerts when you’re getting close to your spending limits.

Many students have a limited amount of money from scholarships, student loans, or savings. A good budget helps make sure this money lasts throughout your studies. It’s important for handling unexpected costs, like medical emergencies or extra travel. Since the cost of living can vary a lot between places, budgeting helps you manage your spending based on local costs for housing, food, and fun.

Without a budget, it’s easy to spend too much on things you don’t really need. A budget helps you focus on important expenses like tuition, books, and housing, while also saving some money for social activities and emergencies. Knowing your money is under control can reduce stress and help you concentrate more on your studies and experiences.

Find Affordable Housing Options

Housing is usually one of the biggest costs when studying abroad. To save money, compare different options like dorms, shared apartments, and homestays. Each one has different prices and benefits.

 

Check out deals on housing websites like Airbnb or local real estate sites. You could also look for sublets or find roommates to split the cost. You can also look online for affordable places. Many Facebook or social media groups post ads for roommates and rentals. Cities often have groups dedicated to finding budget-friendly housing.

If you're open to negotiating, you might be able to lower your rent. Making smart choices about where you live can help you stick to your budget and make your time abroad more enjoyable.

Some trusted websites for affordable accommodation

• Airbnb
• Roomi
• Uniplaces
• Housing Anywhere
• Student.com
• Nestpick
• Homestay
• Couchsurfing

Cook Your Own Meals

Eating out or ordering food regularly can quickly drain your budget. To save money, focus on cooking your own meals. Not only is it more economical, but it also allows you to experiment with local ingredients and recipes.

Plan your meals in advance and create a shopping list to avoid impulse purchases. Shopping at local markets or discount grocery stores can help you find fresh produce at lower prices. By preparing meals at home, you can significantly cut down on food expenses and enjoy a healthier diet.

Here are some easy recipes you could try out:

1. Vegetable Stir-Fry

Ingredients:

• 1 cup rice or noodles
• 2 cups mixed vegetables (fresh or frozen, like bell peppers, broccoli, carrots)
• 2 tablespoons soy sauce
• 1 tablespoon oil (sesame or vegetable)
• 1 garlic clove, minced
• Optional: tofu, chicken, or shrimp

Instructions:

• Cook rice or noodles as per package instructions.
• Heat oil in a pan, add garlic, and cook for 1 minute.
• Add vegetables (and protein if using) and stir-fry until cooked.
• Add soy sauce and mix well.
• Serve over rice or noodles.

2. Quesadilla

Ingredients:

• 2 tortillas
• 1/2 cup shredded cheese
• Optional fillings: cooked chicken, beans, peppers, onions

Instructions:

• Heat a pan and place one tortilla in it.
• Sprinkle cheese and optional fillings on the tortilla.
• Place the second tortilla on top.
• Cook for 2-3 minutes until golden brown, then flip and cook the other side.
• Cut into wedges and serve with salsa, sour cream, or guacamole.

3. Omelet

Ingredients:

• 2-3 eggs
• 1/4 cup milk (optional)
• Salt and pepper to taste
• 1/2 cup fillings (cheese, ham, vegetables, mushrooms)
• Butter or oil for cooking

Instructions:

• Beat eggs with milk, salt, and pepper in a bowl.
• Heat butter or oil in a pan.
• Pour egg mixture into the pan and cook for a few minutes.
• Add fillings to one half of the omelet.
• Fold the omelet and cook until eggs are fully set.

You can customize this recipe with your favorite ingredients.

Public Transportation

Public transportation is often cheaper than using taxis or rideshares, and it can save students a lot of money compared to owning a car. Instead of buying or leasing a vehicle, which can be very expensive, students can use public transit, which usually costs less and doesn’t require paying for gas. Many cities offer student discounts on public transportation, and special passes can be much cheaper than single tickets.

For traveling within your country or around Europe, budget airlines, trains, and buses are good options. Using websites and apps to compare travel prices can help you find the best deals. Booking early and being flexible with your travel dates can also lead to significant savings.

By choosing these cost-effective travel options, students can explore more without spending too much. Plus, using public transportation and other affordable travel methods helps the environment, which can make students feel responsible and good about their choices.

Conclusion

Saving money while studying abroad can be easier than you think. By making following the above tips wisely, you can manage your money well and enjoy your time abroad. Just remember to stay informed and make smart choices with your money.

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