How To Study Abroad On A Budget
Are you planning to study abroad but have budget constraints? Learn some tips to study at foreign universities without spending a lot of money.
When you are flying to a different country or a state to pursue your education, you should be excited about your experience. But sometimes the stress of being able to afford all of it sort of takes the joy away. You will have to put extra effort right from the beginning to get your budget set and make that studying abroad a stress-free duration.
Here are 7 ways you can cut down your costs and study abroad on a budget.
Select a country for your budget:
The very first thing to do is to identify your budget. To understand that you need to analyze how much you can afford for your fees and how much can you draw in for your stay during the time. Once you know your budget, select a country or a couple of more options where you can pursue your education without feeling financially burdened.
Browse through different courses:
Studying abroad doesn't mean you will only have to do MS or MBA or other courses and universities that charge you extremely high fees in the name of tuition. You will have to sit down and check what course is more suitable for you and what course fits your budget frame well.
Get inputs from your counsellor:
When you decide to study abroad and choose where you will do the same, you approach a counsellor for further guidance. You can ask your overseas educational consultant on how to live and study on a budget without any hesitation. Most of the students who go abroad do face the same question and they have experience in sending their clients to the right places. Hence, they also will have the information you are seeking. Hence, keep this question in top priority in the next meet with your counsellor.
Check for scholarships:
Every country has its own scholarship schemes. You will have to apply for all the scholarships you are eligible for. Get all the documents ready and apply for the scholarship schemes. Most of the time if you have good credits and exceptional entrance exam score, there are chances of you getting the scholarship which can bear your tuition fees partially or completely. This will be very helpful for you to get financial aid and study in the budget.
Cut down travel costs:
Book your tickets at least 50-100 days prior to your departure. This will help you avail a lot of discounts and hence doing so will help you save extra dollars. Every minute saving is important when you are getting on an adventure as such. You will have to be very particular about what you eat and how you live.
Work on a strict budget until you adjust to the scenario:
Stick to "living like a local" logic. Most of the times, when you travel abroad for studies, you will have to get out of the tourist mode and start adapting to the atmosphere as a local. You will have to stop spending money on expensive restaurants and cook at home instead. Cut down heavy transports and use public transport for saving up. You will have to mend into all the living situations as a local. That way you can strictly follow the budget throughout the year.
Use student discounts:
Most of the universities have benefits for students. Even the local stores and other places in the city would have student discounts and much more. Get yourself a manual on all of it and use the service that is available. You have to save up money in every way possible. Only then you will be able to live on a budget.
Earn some extra dollars:
Along with spending money, also try to earn some. A lot of students work part-time on-campus jobs. Some of them freelance, some students also become Youtubers. All you have to do is check with your university regulations and policies on students working part-time. Some universities allow off-campus for international students while some don't.
Follow a strict accounting method:
You can study and earn at the same time, the challenge is to manage your accounts in such a way that you don't feel the burden of it. There are some great accounting techniques which you can use to increase your savings. Out of which Kakeibo is on top. Kakeibo is a Japanese technique to increase your savings by 35%. As we all know Japan is an on top when it comes to their economy and personal finances. Everybody in Japan considers Kakeibo as their life-saver. You can get Kakeibo journals and much more available in the market. Also, you can learn how to do it on the internet. There are a lot of books and articles written on this accounting method.
Focus on studies and get internships:
In the middle of experiencing and exploring you might ignore your academics. Make sure you stay on track and on the mark so that you can apply for internships by the end of your semester. That way you will also be able to increase your credits and land a well-paying job.
These are some of the ways you can save, earn and manage your money when you study abroad. The only way to fill the bridge between studying and experiencing is by balancing everything during your stay.
So, good luck with your study abroad experience!
Today many students want to go abroad for higher education or making a career but everyone cannot afford the cost of the same in the initial phase. This article is a good source of information for the students to understand the gamut of these things in details and to take these preventive measures to manage life with limited resources.
When one plans to go abroad, on the cursory look, it appears so exciting and thrilling that the student even goes for costly educational loans from the banks. After the completion of education, it is not necessary that the student will be able to secure a good job there itself. He might come back but may not be able to get suitably placed in his country so he will have the problem of repayment of the loan. So these aspects are to be understood in these aspirations. Those students who can willingly work in those countries while completing their educational courses are tight pressed for their schedule but that is a better way rather than asking money from the home or taking a loan. Foreign countries allow the students to work for some stipulated time in a week and I think that is a good opportunity which students should avail.