By Ada Kohli
Published Aug 08, 2023

Hindustan Times

How to manage money while studying abroad

It can be overwhelming and difficult to manage your finances for the first time as an international student

Here are some tips on how to manage money while studying abroad

Make a budget

It is extremely important to make a monthly, weekly and daily budget in order to track your spending. This will also help you manage your finances better

Open a local bank account

Transferring funds or making payments from a foreign bank account costs much more. Instead, open a local bank account once you reach the country you will be studying in

Additional income

Look for additional sources of income such as part-time jobs or internships to support your living expenses while studying abroad

Avail student discounts

Lots of restaurants, shops, movie theatres and transport services offer student discounts. Make sure you keep an eye out for these discounts to better manage your finances while studying