Studying abroad can be a transformative experience to dive into a new culture and gain incredible educational opportunities. I have learned through my own personal experiences that one of the most important aspects of studying abroad is budgeting. Now, I know talking about money can stress many people out. Not to worry, the financial aspect does not have to get you down. I will share the most important factors for you to consider when creating your personal financing strategies, guaranteeing you make the most of your time abroad.
Every great adventure starts before you board the plane. It is important to perform research and plan ahead. The cost of living varies in every location. Research before you go to understand the cost of transportation, food, fun, and everyday life. This will help you estimate realistically how much you will need for your whole trip. When I studied in Nice, France, I went all out and created a spreadsheet with my personal expenses so I knew my parameters and what to expect. It may seem tedious, but ultimately, having everything laid out in one document can be game-changing.
Most study-abroad accommodations have kitchens. My advice, use them! Not only is cooking your own meals an amazing opportunity for personal growth, but you will notice the difference in your bank account! Similarly, public transportation options have grown tremendously throughout the last decade. When studying abroad, it can be way more affordable to use the local transportation systems, not to mention you are immersed in the local life!
Lastly, I cannot stress the value of prioritizing your personal plans enough! When abroad, research what you want to do and see most, then figure out how to make those experiences a budget-friendly reality. Plenty of inexpensive, even free, activities in every city can turn out to be better than the expensive ones. Sometimes, the best things in life do not have to cost you a fortune!
By planning ahead and understanding your personal financial situation, you can make the most of your study abroad experience without having to stress about money the entire time you are abroad! So leave those financial worries behind because soon, you will be on one of the best experiences of your life!
Author: Siena Ashdown