It’s no secret that studying abroad can easily drain your wallet, what with the exchange rates, travel charges, and expenses of living abroad. But there are ways to cut costs when you’re in another country, and lucky for you, we’ve got them all laid out! Here are seven simple ways to save money while you’re studying abroad.
1. Plan Ahead
It might be tricky to plan around classes and other obligations, but you’ll thank yourself later if you do all your travel planning ahead of time. Not only does it get the weight of planning off your shoulders, but it saves you a bunch of money! Ticket prices bump right up around peak travel times (like holidays), and they slowly increase as time goes on, so do your best to plan ahead – the sooner the better!
2. Utilize Budget Airlines
We know that a reclining seat, in-flight meal, and TV in front of you are some great perks of major airlines, but they really aren’t necessary, especially if you’re paying hundreds of dollars for them. Though flying with a budget airline (like RyanAir or EasyJet) isn’t exactly a luxurious experience, it can save you a ton of money. The price for a budget airline ticket often includes a seat on the plane and a small carry-on item – anything more and you’ll have to pay extra. This is an awesome way to travel if you don’t have many belongings and don’t want to pay the price for an extra bag that you don’t even have!
3. Take Buses and Trains
If you’re jetting off from London to Paris, it’s tempting to take a quick flight over. While flights are good for eliminating travel time, they’ll definitely drain your budget, big-time. Consider the much cheaper travel alternatives of coach buses and trains – they’ll often get you to the same destination for a lower cost. The only downside is spending more time traveling – so consider an overnight trip!
4. Stay In
While a $10 meal here and there doesn’t seem like a lot, trust us, it adds up. Going out for meals and drinks can drain your wallet faster than you think! Instead of eating out, consider cooking your meals at home with ingredients from the grocery store (buy store brand to save even more). Instead of going out for drinks so often, invite your friends over for a card night and ask everyone to provide their own drinks.
5. Bank Wisely
In order to avoid all those tricky international fees, make sure you’re banking wisely. Look into your options for international plans; some card companies will charge you more for international payments. When getting cash out of the ATM, take as much out as you can (that still feels safe) at one time. This will help you avoid falling a victim to those pesky ATM fees over and over again.
6. Consider Alternatives to a Hotel
If you’re on a student budget, you shouldn’t be looking at five-star hotels for your weekend trips. While a night at the Mariott might be nice for your stress levels, it won’t be for your wallet. Instead, consider utilizing hostels, friends’ houses, and other alternatives like Airbnb or Couchsurfing. There are an abundance of options for housing that are much cheaper than a hotel!
7. Flash Your ID
Your student ID card is probably a lot more useful than you think! Whether you’re out to eat, visiting a museum, or booking a bus, your student ID card can often score you a student discount. If for some reason you don’t have a student ID, you can sign up for an International Student ID Card (ISIC), which can save you money and get you benefits in a range of different countries. It doesn’t hurt to try flashing your ID!
While traveling around and hitting up pubs can certainly drain your budget, studying abroad doesn’t have to be so expensive! Keep money in mind and utilize these ways to save, and your budget will last you the semester.