5 Practical Guide for Students to Budgeting in a Foreign Country

 

1. Maintain a detailed list of expenses and income

You can start by making a detailed budget note to manage your expenses. Keep a list of your main routine expenses such as food, transportation, accommodation and other unexpected costs. Set a limit for each expense, so you can keep it under control.

2. Use the campus facilities

Take advantage of the free facilities offered by your campus, such as the library, swimming pool, gym, student clubs and organizations, etc. Some of these facilities may help you save on spending.

3. Working part-time

While you are studying abroad, try to work part-time. This can help you to make an additional income for your needs or long-term savings.

4. Looking for scholarship and financial support programs

Normally, every student has the opportunity to apply for financial support for international students who plan or are currently studying abroad, whether it is from the government or private institutions. You can also search for available scholarship programs. Find out and try to apply, but your reason needs to be strong. Do remember to read the terms and conditions.

5. Save money on food

Try to start cooking by using the kitchen facilities available in your dorm or apartment. You can shop for groceries by utilizing discounts, try to note a specific time to get a special price. Also, you can bring meals to campus. These 2 things can minimize your food expenses.

Yep, lets start practicing the 5 tips above, so that you can achieve financial freedom. Even though you haven’t worked full time, you can start good habits from now on, while still a student, be diligent in noting your budget!

For further information about studying abroad or others, you can contact us by visiting our instagram. You can get a free consultation through +62 812-1268-6969 or come directly to EduPlan Indonesia office.

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