Essential Tips to Save Money When Studying Abroad

Your application is finally approved! Congratulations! Are you ready to start an amazing era for your career? Hey! It is ok to be nervous, we understand! But no reason to worry! Thousands of students choose to study abroad, in the countries which dominate their branches. North Italy for architecture, USA or Switzerland for economics and administrative sciences, France for gastronomy, Germany for agriculture and stockbreeding. This list goes on whereas we do not live in a world pushing us to complete our studies in one particular country. When it comes to professions, the sky’s the limit in today’s world. Studying abroad will be the best experience you have ever had and you will come back home with amazing memories. 

On the other hand, studying abroad can be a bit of a struggle when it comes to finances. Especially, if you are coming from a country with a lower currency, a metropolitan city like Paris, Tel Aviv, Copenhagen or London can give you second thoughts. These cities are considered the most expensive cities in terms of rents, food, and utilities. Actually, independent from the country, controlling the cash flow is essential for every student. Thus, you better follow the money-saving tips for students we have listed below:

  •  Start saving right now!

Why delay? You better save money to study abroad starting today. Keep your budget tight and maybe get a part-time job to earn some cash. Most college students apply for tutoring, working an on-campus job, getting an internship, babysitting, bartending, and CEO writing. You can also throw a garage sale to get rid of old stuff whereas you can fill your pockets. This amount will comfort you a lot for a good start in a new country.

  • Apply for financial aid!

Scholarships and grants can be life buoys in a foreign country. There is a multitude of organizations supporting students, especially the ones with high degrees. Contacting your university’s financial aid office or your study abroad advisor may also help you to find out about potential scholarships and grants you can be eligible for. There are national scholarships you can apply for like Goethe Institute or British Council for Erasmus Programmes. Plus, talking to your city’s municipality can be an option if they have a draft budget for students in need. 

  • Own comprehensive health insurance!

Life is full of surprises and unfortunately, they are not all sunshine with pink roses. There will be times when you need health support at some point. Health services can be incredibly pricey if you do not have insurance. What’s more, they can affect your issue negatively in the case of delay. For this reason, we highly recommend you to search deeply to find the best insurance provider with inclusive offers. Please note that you must travel to the clinic or the hospital with your passport and insurance card in tow. In most cases, you will have to pay for the medical expenses upfront and then claim them through your insurance.

  • Have a local SIM card!

It is not a secret that international calls can be an arm and a leg for students. But more than this, how can you live without cell data? Will you look for a hotspot every time? Once you’re on the ground for your program, it is wiser to purchase a SIM card as soon as possible. You can keep in touch with your family and friends through Facebook, WhatsApp, or simply skype them. Before choosing your local SIM operator, you can keep an eye on local phone plans, internet packages, and other costs. 

  • Speak their language!

Are you headed for a Non-English speaking country? You may take it as a disadvantage, but this is probably a tremendous plus. “Learn a new language and get a new soul.” says a Czech proverb. Acquirement of another language opens a door to a new aspect of life. When you talk to locals in their language, they will appreciate your efforts and welcome you calmer. If you don’t speak a foreign language already, that is okay. Thankfully, most study abroad programs allow joining foreign languages classes from the beginner level up. Furthermore, dance courses, parties, a homestay with a local family or local friends can work wonders to develop your speaking and listening skills.

  • Find a conventional payment method!

While carrying cash is an archaic way these days, most students prefer to travel with a debit card in lieu of cash. The comfort of cashing out money from the ATM as needed is priceless as foreign ATMs distribute money in the local currency. At this point, it is crucial to alert your card provider in advance not to have an “Oh! No!” moment if your ATM card or credit card is declined suddenly.

  • Get an International Student ID Card (ISIC)!

An ISIC card will be your magic wand in a new country! Serving spectacular discounts in restaurants, museums, movies, and other sightseeing adventures, these cards are a must to carry with you! Plus, most airports enable commission-free foreign currency exchanges for ISIC cardholders. You can simply ask for it from the faculty administration before you leave. The best part? Wait for it! These cards are also usable when you get home due to their internationally recognized status.

  • Enjoy it to the fullest!

OK! This one is not an actual tip to save money for study abroad, yet we want to underline that this part of your life will be a magnificent experience. Beautiful memories of new friendships, cultures, landscapes, history, and more important than all, the wisdom of “We are all the same in deep, no matter where we were born”. Enjoy every single moment of it!

Our digital wallet, Jeton serves hassle-free and secure international money transfers through the state-of-art Jeton App. To meet our high-standard services and multi-currency prepaid cards options, contact our dedicated customer support today. Carry your financial experiences to the next level with us!


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