How to Reduce Your Cost of Living as an International Student
How to reduce the expenses in the Following AreasSetting up a Local bank Account
The first crucial step in managing your finances when studying abroad is to open a bank account in a foreign country. You can get assistance from your university in doing this. It's important to research and compare the benefits, offers, and fees of different banks, including their policies on currency conversion and any additional hidden costs. This can help to reduce the overall cost of studying abroad for Indian students.
Maintain a monthly Budget
Studying abroad can be expensive, and Indian students need to budget for not just tuition but also living expenses such as housing, food, transportation, and healthcare. It is beneficial to create a monthly budget and allocate funds for each essential expense. Additionally, it is important to be mindful of spending and save some money for unexpected situations, leisure, or travel.
Make full use of the Student Discounts
In addition to tuition and everyday expenses, Indian students studying abroad also need to budget for travel, entertainment, and other fun activities. Many businesses offer discounts to students for products and services such as museums, cafes, libraries, and transportation. To take advantage of these student discounts, it is important to be aware of them and not be afraid to ask for them from vendors or shopkeepers.
To save on transportation costs, students should investigate if there is a discounted student card for train and bus services. Other ways to save on entertainment and activities include joining a library, purchasing used books or digital copies, and checking with the university or college for any student discounts, schemes, or fee waivers available. These steps can help reduce the overall cost of studying abroad for Indian students.
Part-Time Work is a Must
As a student, you have the opportunity to work up to 20 hours per week and full time during breaks. This can include both on-campus and off-campus part-time jobs, which can help cover your daily expenses and give you financial independence. Additionally, working while studying abroad can also help expand your social network and give you exposure to the working culture of the foreign country. Plus, earning money in a foreign currency can also make studying abroad more affordable for Indian students in terms of rupees.
Adopt Home Cooking
A significant expense for Indian students studying abroad in terms of rupees is food. If you're living off-campus and often eating out for lunch or dinner, consider cooking your own meals. Even if you don't know how to cook, you can learn from online resources such as YouTube. It's a valuable skill to have and can be especially helpful in a foreign country. Eating out or ordering in can quickly add up and increase the overall cost of studying abroad. By purchasing groceries and cooking your own meals, you can save money and also take care of your health. It could be three meals for the cost of one food order.
Make full Use of the Supermarket Sales
Sales events such as Black Friday or garage sales offer great opportunities to find discounts on various items, including clothes, furniture, appliances, and more. These sales can help to reduce the cost of studying abroad for Indian students in rupees. For example, if you are studying in Canada, buying winter clothing such as parka jackets and boots during a sale can save you a significant amount of money compared to buying them at a regular store. Additionally, budgeting for grocery shopping and purchasing items from stores like Walmart, Costco, and Best Buy can also help to reduce the overall cost of studying abroad for Indian students.
Accodomationa can also be adjusted
Saving on accommodation costs can greatly reduce the overall expense of studying abroad for Indian students in rupees. Students can save a significant amount of money by being mindful of their accommodation choices. Compare the costs of living on-campus versus off-campus. Living on-campus at the university may be less expensive and also offer convenience in terms of food and transportation. If living off-campus is preferred, consider sharing an apartment with classmates. Also, if the commute to campus is manageable, living in the suburbs can be less expensive than living in the city center.
Avoid Last moment travel Plans
Using public transportation can help to reduce the cost of studying abroad for Indian students in rupees. Other cost-effective options include biking or walking. If living off-campus, try to find accommodation near a metro station to save on both time and money. If you are studying in a European university on a Schengen visa, take advantage of the opportunity to travel to other destinations by planning and budgeting carefully. Compare prices for bus and train rides before making travel plans and opt for the cheaper option. Additionally, booking nighttime flights (red-eye flights) can be more economical than daytime flights. Furthermore, you can accumulate "air miles" through your flight bookings which can be used for discounts on future flight bookings. These are some ways to help reduce the cost of studying abroad for Indian students in rupees.
How Masterclass Space can Help You with your Overseas Journey?
Masterclass Space as our tagline suggests "preparing for a better tomorrow". We are constantly striving to work and bring a change that can make a difference in the teaching methods and the approach. With the world going digital and so has SAT. the new digital SAT concept might be difficult for students in the initial days and probably in the first year and for this reason we have introduced various webinars to guide and explain the students about the Digital SAT Format.
However, our approach is not limited to just academic excellence, we understand that moving abroad at such as tender age of 18-19 is probably difficult and therefore, our mentor team works and guides our students about the aftereffects, the consequences that they might face and how to deal with them.
Our network has been extended to various universities and the students who have migrated there, we arrange meetings with them to give an honest idea to our students. Being with us at Masterclass Space will give you a top-notch education, with a unique guidance and end-to-end support to prepare you mentally, physically, and emotionally for your new world.
Conclusion
Masterclass Space is dedicated to providing students with practical exam-style questions to help them feel confident and prepared for the actual test. We focus on covering less common subjects and giving our students the best support and guidance. Our team not only shares tips and tricks for success but also provides information about local cultures to ensure our students are well-equipped for any situation. Additionally, we gather mock test papers to help students fully understand each concept. Our ultimate goal is to empower our students to excel and be the top choice for SAT preparation and education and entrance exam training abroad. Don't hesitate, to book your session now!
Contact us at info@masterclassspace.com
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