Tips for International Students to Save Money: Attending a university might be expensive, and there’s nothing wrong with living within your means, and having spending savvy will help you explore the world and have fun without spending a fortune!
These tips may not leave you rolling in money, but they should help to keep your bank balance looking a little bit healthier each month!
Tips for International Students to Save Money
1. purchased used textbooks.
It’s fortunate that you don’t have to buy every book on your reading list because course textbooks can be quite pricey. Whenever you need them, set textbooks are often available to check out from the library. Even if you only purchase the essential books, you can locate inexpensive used copies online or at your school. When you’re done using them, sell them to regain some of your investment.
You can spend less on items except books that are necessary. It may also be more economical to purchase your own printer, depending on the printing fees levied by your university. Just make sure to first calculate how much printing you’ll need to accomplish.
2. Purchase travel vouchers
Purchasing travel cards will help you save a ton of money, especially if you enjoy traveling. There are travel cards available that frequently come with additional student savings for subway systems, buses, trains, and occasionally even flights.
3. Live near your educational institution…
The majority of student housing complexes are situated close to the college or university, but if at all possible, look for a residence that is strollable to your campus. It will not only encourage you to attend your lectures, but it will also spare you from having to pay for a bus card or a taxi each time you need to travel to campus.
4. Alternatively, think about living off-campus.
Although it will require some math, choosing to live off-campus and commute to class could end up saving you money.
The second largest cost for international students after tuition is housing. Although living on campus may be more convenient for international students, living off campus offers the chance to save some money as doing so might be costly.
You might think about alternating between on-campus living and off-campus housing. This could enable you to spend some time getting used to campus life in your new country before continuing your academic career in an apartment or home. Please bear in mind that having roommates, whether they live on or off campus, will lower your cost of living.
A homestay program is an additional lodging choice you might think about. According to studies, homestay residents who are international students have a high rate of college success. International students can learn the language, enjoy the area with locals, and have a home away from home while paying a low cost by living in a homestay.
5. Be smart with your food shopping
Finding strategies to lower your expenses is important because food will be one of your main expenses. Some of the simplest strategies to save money include shopping at the end of the day when many items are on sale and choosing supermarket value products over well-known brands.
If at all possible, consider cooking meals together with your housemates or making a meal plan. In either case, you’ll be able to perform a budget-friendly “big shop” at the beginning of each week and eliminate the need for too many pricey takeout meals while honing your culinary talents. Making your own packed lunches every day rather than purchasing a sandwich or visiting a coffee shop will also save you money.
6. Investigate dining options.
The majority of schools and universities offer on-campus and off-campus students access to dining halls or campus centers with restaurants. Students can select their own meal plan from a variety of choices, including an “unlimited access” option or a predetermined number of meals at a set fee. If you have access to a kitchen, you might choose to make your own meals instead of purchasing a meal plan because it is frequently less expensive. But it’s important to keep in mind, particularly when the temptation to order takeout is always present.
7. Go to shops that sell secondhand items.
Used goods shops can be great places to resupply while still being a little thrifty. If you can find one, second-hand shops frequently provide a wide variety of things at significantly reduced prices, including apparel for men, women, and children; books; toys; decorations; housewares; films; music; computer games; furniture; and other items.
Others are more specialized, such as those that sell books, bridal attire, or music only. Some of them also sell furniture and electrical appliances.
8. Alternatively, keep an eye out for sales
An excellent strategy to save money is to keep an eye out for seasonal deals and stock clearance. Information and timeliness are crucial when shopping for a deal.
Although there are frequently significant deals after Christmas and at the start of the New Year in most places, the best sale times can vary from country to country. Online, there are now an increasing number of significant sales, like Amazon’s Prime Day. So, find out from others when it would be best to get what you need.
Of course, the most crucial query to ask before making a purchase is, “Do you truly need it?” Typically, buying something is typically a waste of money, even though it may appear fantastic or seem incredibly fascinating. A month’s worth of testing is an excellent idea. Are you still interested after that? If so, get it for yourself and take pleasure in it.
9. Make home calls using Skype.
One method by which international students can save money on cell and landline calls is by utilizing Skype to contact home. All you need are headphones with a microphone, an internet connection, and a free Skype account.
You can talk to anyone in the world for free using Skype if they are also using it on their computer. You can see each other on your computer screen for free if you both connect cameras to your computers. You can also communicate for free. Even if the person you want to call doesn’t use Skype, you can still call them for a very low cost on their home or cell phone.
10. Fly for less
As an international student, it’s easy to spend thousands of dollars a year on travel or flights back home. However, it is feasible to locate excellent airfares. Wikipedia offers a list of inexpensive airlines you might want to start with.
For instance, a lot of websites let you set up an alert for when the cost of flights to your location drops. Being flexible with your travel dates could help you save hundreds, and if you need to take a connecting flight, it might be less expensive to book a flight to your connection first, then another flight to your final destination.
11. Make use of student discounts
It’s crucial to remember that simply being an international student might earn you some extra money. If you display your student ID card before making a purchase, many establishments in your town might provide special prices and discounts. Make sure to ask if there is a student discount offered if you don’t see a sign, because you could be able to save a lot of money on entertainment, food, coffee, and other items. There are other discount cards you may buy, such as the ISIC card, that can provide students with even bigger discounts.
12. Cut your own hair.
Although it may be difficult for some, cutting your own hair can help you save hundreds of dollars annually. If you wear your hair short, you’ll typically need to get it cut more frequently; think about wearing it longer to avoid this. If you absolutely must cut your hair, look for a classmate who is studying beauty or a related subject, so they might be able to assist you!
13. Avoid going to the gym.
Naturally, investing in your health should always be at the top of your list of things to do. However, many people pay a lot each month for a gym that they hardly ever use. So, instead of spending more money, look for other ways to stay in shape. Whenever you can, try to travel by foot. Start cycling or running to get around or for leisure. Or, if you have a little extra cash, investing in some weights and gym equipment for your home may be worthwhile, particularly if you have the space. Share the cost with your housemates if they’re interested!
14. Take the time to look for low-cost insurance.
You might have to pay a significant amount for health insurance if you study in the US, among other nations. However, there will always be insurance to purchase, whether it be study abroad insurance, travel insurance, or valuables insurance (which covers course fees and more). In order to get the greatest deal available, browse around. Keep in mind that paying a little bit more for insurance is preferable to having to pay thousands for medical expenses or because your laptop broke.
15. Keep track of your spending.
Even if it’s not the most enjoyable job, managing your money is the best way to prevent overspending and financial trouble.
You may start by making a spreadsheet that lists your income from parent support, part-time jobs, scholarships, and loans for students, as well as your usual outgoings like rent and phone bills. The amount you have available to spend each month will then be clear to you.
With the ability to check your balance at any time via your mobile banking app, staying within your budget has never been simpler. The majority of student bank accounts provide interest-free overdrafts, which will help you get by if you do go over budget.
16. Pay your bills on time
It might also be much simpler to pay your bills on time if you keep a close eye on what is coming into and going out of your bank account.
Utility costs are typically included in rent when you live in residence halls, which makes budgeting a little simpler. However, you will often be responsible for paying for your gas, electricity, water, and internet if you share a student house. To ensure you obtain the greatest offer and keep costs down by conserving energy, use comparison websites.
Your recurring bills will be easier to manage if you set up direct debits or standing orders so that they are paid automatically each month. You’ll avoid any late payment fees by doing this, and you might even get a discount.
As long as it is managed wisely, splitting bills among roommates can work (one pays the power, another pays the gas, etc.). Whenever you pay a bill on behalf of your roommates, make sure they immediately reimburse you for your portion. Likewise, pay back your flatmate as soon as you can if they paid a bill on your behalf. By doing this, you can prevent any unneeded conflicts from arising if someone habitually forgets to provide their fair amount.
17. Be sure to pay the appropriate taxes.
If you work part-time while going to school, you’ll probably have to pay taxes like everyone else. You might not have to, but if you do and you don’t pay your taxes, you risk a sizable fine and a host of other penalties. So, once more, do your research and check to see if there are any additional costs.