Alumni Said Business School, University of Oxford, UK
5 Money Management Tips For Studying Abroad
Studying abroad is a once in a lifetime opportunity. Once you have determined that you are finally taking in the big leap and studying abroad. You must learn few things that come with it. Perceiving the most essential moment management should be the first to follow. Initiating the process of managing the expenses as well as the funds is essentially important, but challenging too. It requires persistence and self - awareness which comes down to be taken wisely and efficiently. Here are the top 5 essential money management tips that require only a small plan and determination for Students whostudy overseas.
Keep a track on budget
The cost of living abroad can be considerably high. The most important and critical aspect of it is money management. Money management setup can come down to balancing as well keeping a track of the budget. Your expenses should be noted as well as segregated with respect to the living, food cost, bills, internet, toiletries, books, study materials, transportations etc.
Keeping a track is good - but knowing the limit as well as sticking to your budget would help you go far! Sticking to your allowance till the point you get used to it. Once you get hold of it, you wouldn't need to note down everything. Study overseas consultants can help you through a lot in this process.
Keep track and eyes on the exchange rate ( currency )
By keeping an eye on the American dollar and in respect your home currency increases or decreases. You can transfer money more with getting a good exchange rate. You can always connect to Australia/ USA/ Canada education consultants in Delhi to keep a track of it and as to how to do it the best way.
Learn to save on your traveling cost
Being a student not only give you a joy of amazing experience but also offers you some extra advantage. Make sure you utilize a discount on transportation provided to your student I.D. These discount prices during the peak time can bring down your expenses. You can get an additional discount on your airfares, trains, bookings by showing you relevant student identity card. The abroad consultancy in Delhi can give you a brief on the rules and regulation which are essentially required to keep in mind.
Learn to utilize and spend money like the locals
Being a tourist has its own merits, but the worst demerit is getting ripped off by the merchants. All countries have different buying and selling culture. You must follow an effective management and also need to show your negotiating and bargaining skills in case of need. One can also get in touch with the locals to grab best deals from the flea markets as well as find out the places where you can get the offers.
Shop and Save in everything you can
You must become very calculative specifically when it comes to shopping or buying anything. Cook at home instead of eating out. Split bills. If sharing can be done - do remember "Sharing is Caring". Managing your social activities with the fixed amount set aside for recreational or entertainment purpose can make your work much easier. During your session or meeting with the study visa consultants in Delhi - you can always put up questions in this regard to become more clear.
Ditch the notion of luxury and start following the best ways to make your living abroad - convenient, flexible and simple! For more information, you can connect to Map my study, the best study overseas consultants.