The best money-saving tips for international students are simple: make a budget, use student discounts, cook at home, and take public transit. Here are eight practical ways to save abroad.
Studying abroad is a life-changing adventure where you can build global friendships, experience new cultures, and explore a brand-new country. But managing the cost of living abroad can be a challenge. Whether you want to cut daily costs or need a better budgeting strategy, these tips will help you manage your money wisely and make the most of your time overseas.
Know your costs before you go
Compare tuition, rent, and monthly living costs in 11 study destinations with our cost of living guides.
8 Money-Saving Tips at a Glance
1. Create a Student Budget
Start by setting up a budget, and stick with it. Think of it as your financial roadmap. The point is not to avoid spending, but to spend thoughtfully so you can afford what matters most. A simple app or spreadsheet is enough.
- Income: List your sources of money, such as scholarships, savings, or family support.
- Fixed expenses: Note costs that stay the same each month, like tuition, rent, and phone bills.
- Flexible spending: Track costs that change, such as groceries, dining out, and travel.
2. Take Advantage of Student Discounts
Your student ID is like a magic pass. Restaurants, movie theatres, clothing stores, and even some phone plans offer student discounts. Always ask: "Do you have a student discount?" You might be surprised how much you can save.
Tip! Consider getting an International Student Identity Card (ISIC). It gives you access to student discounts around the world, including on flights and hotels.
3. Cook at Home
Cooking is one of the easiest ways to cut costs. Eating out is enjoyable, but it adds up quickly. Shop for groceries, visit local markets for fresh produce, and make cooking a social activity with friends. Cooking at home saves money and is often healthier too.
4. Use Public Transportation
Public transit can be your best friend. Look into monthly student passes, or free transport options linked to your student ID. Do not overlook walking or cycling either. Both are affordable, good exercise, and a great way to explore your new surroundings.
5. Consider Part-Time Work
If your visa rules allow it, think about a part-time job. Working on campus, in a café, or at a local shop can help ease financial pressure while giving you valuable work experience. It is also a great way to meet people and improve your language skills.
Note: Most countries limit how many hours international students can work during term time. Treat part-time work as extra income for day-to-day costs, not as a way to pay your tuition. Check your visa conditions before you accept a job. See visa guides by country.
6. Open a Local Bank Account
Opening a bank account in your host country can save you money by avoiding foreign transaction fees. Many banks offer student accounts with no monthly fees. Do some research before you arrive, so you are ready with the documents you need.
Find programs that fit your budget
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7. Buy Pre-Owned Items
You do not have to buy everything brand new. For textbooks, furniture, or clothes, check thrift shops, online marketplaces, and your campus buy-and-sell groups. At the end of each semester, many students sell their belongings at bargain prices. Buying pre-owned is cheaper and better for the environment.
8. Explore Free or Affordable Activities
Studying abroad is about more than classes. Look out for free or low-cost activities like local festivals, museum free-entry days, and outdoor concerts. Join student clubs, go hiking, and follow your school's social media for upcoming events. Great experiences do not have to come with a high price tag.
Frequently Asked Questions
It depends on your country and city. Rent is usually the biggest cost, followed by food and transport. Our cost of living guides break down typical monthly budgets for each destination. Compare living costs by country.
Cooking at home and using public transport are two of the easiest ways to save. Pair them with a simple monthly budget and student discounts, and the savings add up quickly.
No. Part-time work can help with everyday costs, but work hours are limited for students in most countries. Most student visas also require you to show you can pay your tuition and living costs before you arrive.
Share our parent's guide to building an international student budget. It walks families through total costs, monthly budgets, and sending money safely.
Managing money as an international student does not mean missing out. It is about making smart choices with your spending. By following these eight tips, you can save money, reduce stress, and enjoy a rewarding adventure abroad. Ready to start your journey? ApplyBoard is here to help you find the right program.
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