Ok, so you’ve funded your flights, housing, tuition, and other basic abroad costs, but how can you actually afford to live abroad for 6 months without spending your life savings? We’ve come up with 6 tips to help you keep your bank account in check and still have the experience of a lifetime.
1. Create a budget
Before you travel, create a budget and stick to it. Calculate how much you can spend per week without spending all of your cash and pick a time to check in with yourself weekly to make sure you aren’t going over
2. Use the ATM less
When you need some cash, take out more than you need. Constant trips to the ATM, especially a foreign ATM, can cost you hundreds of dollars in fees. Keep your extra cash in a locked drawer so you aren’t carrying around a full wallet.
3. Skype it
Sure, it’s important to have a cell phone on you for emergencies, but try to use Skype as much as possible to call home. With an international phone you’ll pay per minute, which adds up fast and runs our quickly. Skype is free!
4. Make small changes
Skip that $5 latte every morning. Cutting the unnecessary cost will save you cash over time; it’s much cheaper to brew a pot in your dorm/flat/apartment/home if you can.
5. Avoid eating out
We recommend checking out the local grub once in a while, but if possible, try to cook at home when you can. Stock up on affordable staples at the grocery store like eggs, rice, veggies, beans and pasta to cook up a quick meal at home.
6. Get an International Student ID Card
Look into buying an International Student ID Card. It provides students with discounts on travel, sightseeing, food, and all kinds of fun stuff.
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