How to Save Money as a Student While Studying Abroad
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How to Save Money as a Student while studying abroad? Studying abroad is an amazing adventure, but managing finances can be tough. This blog offers 11 hacks for Indian students to save money on accommodation, groceries, transport, academics & more! Learn how to budget, use public transport & explore free entertainment. Make your study abroad dreams a reality without breaking the bank!
Studying abroad is nothing less than an adventure for Indian students. From staying with your parents in your comfort zone to managing things alone in a new city for your studies is not easy. All the things you learn while studying abroad will be helpful to be a global citizen. Managing finance in a new city far away from home is an essential part of your learning. Whether you have taken an education loan or received a scholarship, overspending can create long-term financial burdens.
Having no budget planning and not using money-saving habits can increase your financial stress. Well, worry not! We’ll help you to be financially smart so you don’t need to ask for extra rupees from your parents during your higher studies. Learn how to save money as a student while studying abroad and become financially stable. These money-saving tips can benefit not just you, but your buddies too.
- How to Save Money as a Student?
- How to Plan Your Monthly Budget as a Student?
- How to Save Money on Accommodation?
- Save Money on Grocery Shopping
- Use Public Transport to Save
- Save on Academic Expenses
- Explore Free Entertainment Options
How to Save Money as a Student?
You must have heard the line that “Money is your only best friend in a new place”. Indians going to study abroad can easily relate to this line. When a student plans to study abroad then after choosing a college or university, they plan for accommodation, food and other essential things. All these factors are directly and indirectly related to the hard-earned rupees of your parents. So, it becomes important that you make a budget smartly and value your pocket money.
Tips to Save Money for International Students
Here are 11 tried tips to save money as a student while studying abroad
- Choose Shared Accommodation to Stay
- Wait for Sale to Shop for Groceries and other Essentials
- Cook Your Meals
- Limit the Use of Credit Cards
- Use Public Transport to Commute
- Get a Scholarship
- Buy Second-Hand Products
- Create a Monthly Budget and Be Strict
- Look for Part-Time Work
- Understand the Difference Between Wants and Needs
- Avail Student Discount (If Available)
Tip: Save this on your phone so you remember these money-saving tips for students.
How to Plan Your Monthly Budget as a Student?
You have a limited budget for every month. Without having proper budget planning you can face financial issues ahead. You must create a realistic budget while keeping your expected expenses in mind. There are useful apps for students studying abroad to help with budget planning such as Google Budget, Excel sheet Splitwise and more.
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Tip: Always keep the currency exchange in mind at the time of planning your budget.
How to Save Money on Accommodation?
Students can save some dollars by staying in Student dormitories, hostels and other off-campus accommodations. The house rent will be the same whether you live alone or share with other tenants. Sharing the accommodation can divide the house rent, and you can easily save money. Apart from your tuition fees, accommodation expenses cover a big portion of your monthly budget.
Tip: Try to live near the university campus. You can save travel costs and time.
Save Money on Grocery Shopping
You can easily find tips on the internet such as shop during clearance sales, sticking to your budget and using discount programs. We believe you already know all these tips.
Apart from these most generic tips, try to adapt to local food culture. Indian students take less time to adapt to new things. You can try the local market for shopping. Explore local food culture to save money while studying abroad. Bargain for deals and discover seasonal fruits/vegetables at lower prices. Additionally, consider bulk buying, opting for store-brand products, sharing meals, and taking advantage of student assistance programs for extra savings.
Tip: Ask stores about their clearance sale policy to buy dairy products, bread, cakes and more.
Use Public Transport to Save
Using public transport can save your money that you can use later for other things. Also, you can get a monthly pass for daily travel by using the bus, metro or else. Owning a car as a student is not a good idea. It’s not only the cost of the car but you also need to be ready for increasing fuel prices, maintenance, insurance and more. However, you can consider carpooling where students can divide the total expenses to ease the burden.
Tip: Buying a monthly pass is a great option for you as a student.
Save on Academic Expenses
You are going abroad for higher studies. Is there any way to save money on academic expenses? You can use the PDF edition of a book to save some money. Buying or renting used textbooks can help students to save some money. You can consider selling last semester's books back.
Even better, you can buy those books in India for your studies. There are many online book-renting websites where you can rent books and earn extra money to help your finances. Amazon, ValoreBooks, and eCampus are some popular websites for renting books.
Tip: Buying second-hand books in India at a cheap rate is a good option.
Explore Free Entertainment Options
Movies, parties, clubs, theme parks, and other local attractions are not the only options for entertainment. Students can choose free entertainment options. Universities organize events regularly or you can join the student club for free entertainment.
If you wish to study abroad and want expert guidance, then you can get assistance from Shiksha Counselling Services for free. You can also drop your queries in the comments section below.
The University of Staffordshire UK, ranks in and around the top 100 British Universities. According to the latest Shiksha Popularity Rankings, the University of Staffordshire ranks #107 in the UK.
When it comes to global rankings, Staffordshire University Global Ranking is #638 in the world.
Yes, meeting the English language requirements is one of the major University in Lancashire eligibility criteria for international students. Lancashire Uni accepts major English exam scores as proof of English language proficiency. Students can refer to the table below for the University of Lancashire English language requirements:
English Proficiency Exam | UG Minimum Scores Required | PG Minimum Scores Required |
|---|---|---|
Overall score of 6.0 or higher (with no component score lower than 5.5) | Overall score of 6.5 or higher (with no component score lower than 6.0) | |
Overall score of 80 or higher (with minimum subscores of Reading - 10 | Listening - 10 | Speaking - 17 | Writing - 19) | Overall score of 86 or higher (with minimum subscores of Reading - 15 | Listening - 15 | Speaking - 18 | Writing - 22) | |
Overall score of 61 or higher (with minimum of 59 in each component) | Overall score of 65 or higher (with minimum of 59 in each component) |
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The English language test score required at the Univerisyt of South Wales are mentioned in the table below for the international applicants whose first language is not English
Exam
Minimum Scores
IELTS
6.0 with at least 5.5 in each band
TOEFL
72 overall and a minimum of 18 in reading, 17 in listening, 20 in speaking and 17 in writing
PTE
a score of 59 overall and 59 in each component.