Living in a foreign country is not simple as most people think, and more so when you are a student. The hassles of having to cope with the new environment, homesickness, and living on a shoestring budget are out of this world. And if you don’t have a well formulated strategy, you will experience emotional and financial drain.
To avoid all these challenges and help you focus on your studies, we have compiled a list of money saving tips for you.
- Avoid renting campus apartments
Keep off campus apartments if you are planning to cut down your rental fees. Most colleges will restrict you on the number of students per room. Always go for an affordable apartment and share to bring down your expenses.
- Prepare your meals
Eating in restaurants is expensive, and if you are looking forward to saving some few bucks, then you can opt to prepare your meals at home. If possible, try to prepare meals together to cut down the energy bills. Besides, you can still use your student card on restaurants once in a while when they have crazy deals.
- Avoid credit cards
Credit cards tend to make you spend more. Always make cash sales and ensure you stay within your budget. However, as a new immigrant, you may be required to have a credit card to help you build your credit history, but you should ensure you get one from those banks which do not have annual fees.
- Use public transport
Driving your car in the US is costly. The cost of having to fuel, pay parking fees and maintaining your car is crazy. And if you are planning to save money, then public transport is highly recommended. Better still; most public transport offer discounted charges to students, enabling you to save on your monthly transport cost.
If you are not lucky enough to rent near a subway, invest in a bicycle for convenience.
- Keep off newspapers
Instead of spending money on buying newspapers, you can take advantage of the internet for your news updates.
- Cut down your communication costs
Keeping in touch with your family when in a foreign country is crucial. But making international calls will hike your expenditure. Taking advantage of Whatsapp, Skype, and other online services can help you get connected to your family for less.
- Buy used books
Instead of spending much on new books, take advantage of used books. You can hunt for these deals in craigslist. Alternatively, instead of throwing your old stuff away, you can also make use of the site to sell and make some extra cash.
- Maintain simple hairstyle
Do not go for those hairstyles which will cost you an arm and a leg, but rather keep it as simple as possible. You can as well keep your hair short.
- Shop smartly
Do not buy things that you do not require or had not budgeted. Train yourself to stick to your budget otherwise; you will experience financial runaway.
- Find a side hustle
With the ever-changing market prices, relying on pocket money can sometimes be challenging. Looking for a part-time job can help foot some of your bills. Better still, working part-time while studying increases your exposure and skills which will earn you credit when hunting for jobs after completing your studies.
Are you an international student studying in the US? What are some of the tips you use to cut down your costs? Feel free to share your tips on the comment section below.
