Budgeting for Your Study Abroad Program: Tips to Manage Costs

When you plan to study abroad you automatically enroll yourself into a realm of learning where you can immerse yourself, acquire better perspectives, inculcate skills and adapt lifestyle. This also comes up with a challenge that is daunting because you have to step out of your comfy bubble and manage your cost with other prominent survival activities all alone. Managing cost is anyways quite a task where you need to study your requirements, anlayse what’s important, plan with a pragmatic approach. 

In this article we will be enclosing ways to manage your utility bills abroad. So skim through!

1. Research and Plan Early

New cities and adapting into various habitats can be pretty heavy on your pocket. To effectively manage the costs you need to break everything one by one and start planning very precisely and early. When you finalise a city to move in, you can get a brief idea of what in general is the cost of living here for international students. Some specific websites aligns well with your research. You can always refer them for a clearer picture.

Tips: Categorise your expenses into essential and non-essential items. Make the list of extra expenses as well. This will help you understand how much money can help you sustain in a foreign country. You can also add some extra cost as emergency money.

2. Explore Scholarships and Financial Aid

Financial aids can be very helpful in foreign place. They can reduce your financial burden significantly, besides there are many student accommodation providers that can be helpful as they provide perks like all inclusive rent and others. 

Tip: You can ask the study abroad consultants, or research about the scholarships that are available. Make sure you don’t miss out on any for a helpful funding.

3. Set a Realistic Budget

Once you are use to the new place or have a decent idea of how does budget works you can finally work on a realistic budget. Be precise of the expenses and include the expenses based on categories for example: food, travel and others.

Tip: There are many applications online that help you to track your expenses and help you manage your finances. You can take help from them. Don’t forget to add certain extra charges for emergencies.

4. Save Before You Go

It is essential when you plan that you want to pursue for higher education from any foreign country, you need to start savings then and there. Make sure you encourage yourself on cost cutting, part-time jobs, and explore freelancing opportunities that can help you with the expenses and experience. 

Tip: You can look out for a separate savings account or other investment options that can help you stay focused on your goal with all the savings.

5. Choose Affordable Accommodation

Accommodation and rent can be one of the expenses that can cost you a lot. You can always look for options like dorms, shared apartments or homestays that can be affordable and full of facilities. 

Tip: Shared accommodations are also a great choice. You can contact student accommodation providers as well who can help you find a decent accommodation in affordable prices. They even have offers at times that can help you.

6. Cook at Home

The next expense that can be heavy on your pocket is food. Home cook food is cost-effective and also can be healthier and save a lot of money. It can also make you explore the localities better.

Tip: Cooking is basic survival skill. Learning it before you move abroad can be very helpful for you, not just when you are craving something but also when you are home sick.

7. Use Public Transportation

Public transportation is very convienet and affordable. You can always take help of public transportation to explore the city. This can boost your confidence and help you improve your communication skills. 

Tip: Learn about the transportation routes and schedules in your early days of moving in a foreign city.

8. Take Advantage of Student Discounts

There are student discounts applicable at various locations. You can visit museums, theatres, public transportation, restaurants, cafes and others. All you need to carry is your student identification card for better approach.

Tip: Build contact with local groups and clubs, meet new people that can help you know about the discounts and other opportunities well.

9. Monitor Your Spending

One safe way to manage your budget and understand your spendings is monitoring it properly. Regularly review your expenses and make a note of it, keeping track is paramount.

Tip: You can keep receipts and bills of all the expenses so that at the end of month you can analyse your expenses and make note of the necessary expenses. You can also set up an alert on bank account when your balance is low.


Thinking of planning your education abroad can be easy but actually planning it is quite a task. Researching the cost of expenses, exploring funding options, building a budget can be one of the tasks that can once in a while you have never done before. But hopefully this blog will help you understand what can be done, as you major goal abroad will definitely be having stress-free years and not financial worries.

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