Money saving tips while study in abroad

study in abroadQuality and cost of living in India and USA has a huge difference. Going for study in abroad is definitely an expensive affair. The students usually have a tight budget to follow, the main focus after study remains how to save money while studying abroad. After arranging money for higher studies abroad, other things like travel, visa fees and cost of living has to be worked upon. Do not lose hope, students’ life in USA can be an enjoyable experience if you plan properly and spend. There are some practical ways for  money saving tips while study in abroad.

1. Keep yourself updated about exchange rates.

Exchange rate is the amount of money you get against currency of a country changed with currency of another country. This exchange rate changes often, so before making any transaction of money be informed of the present rates. Evaluate whether the present rates is beneficial or it’s worth waiting for couple of days. There are different websites that can be followed to know exchange rates for currencies of different countries.

2. Banking fees enquiry

Prior to planning your trip abroad, speak to your bank branch about the costs associated with foreign transactions. The overhead costs includes fees per transaction, commission rates applied for currency conversion and fees charged for using cash points while study in abroad. Without this information you may end up paying huge amount of money at the end of the month.Allot a budget to amount of transaction to be made monthly basis, include this cost in total budget and find out ways to decrease the number of transactions.

3. Travel through Low cost airlines

Students’ life in USA can be very exciting and colorful. Once you are there for studies, you may plan out travel to nearby locations and go for sightseeing. In big cities of USA you may find number of daily flights and many options of low cost airlines that offer special deals all year round. Before booking the tickets at low cost airlines enquire about the excess baggage costs, fees for food, fast boarding and transportation.Such precautions would help you get best and genuine deals.

4. Doing part-time jobs

After doing arrangements for higher studies abroad, at some point of time you may require more funds to sustain your student life. In some countries foreign students are allowed to work at part-time jobs. So before leaving for the foreign country research about how many hours of work will be allowed, general wage, etc. It would help you find a part-time job before arriving at the foreign location.

5. Use debit card to withdraw money

Try to make a single transaction every month, where you withdraw all necessary cash for accommodation, phone bills, and transportation, miscellaneous. This would avoid the temptation to spend money all the time through cash.Credit cards can be used for transactions, as the reward points can be used at various places or get freebies too. Before leaving for the foreign country, ask your credit card company representative about the details.

6. International Student ID card

Student ID card can save on hundreds of dollars! Wherever you go carry it with yourself. Many enterprises offer student discounts like free tours, maps, city guides, etc. In some cases you can enjoy discount up to 10-20%. Keep track of the expiry date of student ID card and if your college issues student discount card, ask for it.

Subscribe to our Newsletter
  • Enter your email address