Know How To Be A Finance Guru While Studying Abroad

Don’t worry Champ, you are not alone in the financial juggle.

Almost every study abroad student faces financial issues once through their journey. And it is very normal too, as you were not used to doing so much financial planning while you were home. Most of the finances were managed by your parents then and you need not take all the money matters into your hands. But now as you are all by yourself and have to manage everything, you need to run ahead of the expenses and plan them before if you don’t want to run behind the overspending. 

Are you not sure how are you going to manage all this? Don’t worry. We will help you by giving you some tips that you can follow to manage your finances and be a finance guru while you study abroad.

Financial Tips To Follow  

Make note of all the tips that are mentioned below and remember to follow these, make your financial plan and in no time you will be a champ at managing finances:

Make a budget 

Any financial planning starts with making a budget. If you are not a person who can run on a budget or financial scheduling, I am sorry bud but you can not succeed in becoming a financial guru. So if you really want to be better at this, take a pen and paper at the start of each month and pen down all your finances and spending that you will be required to make. Make a list of all the monthly expenses, and set a budget. This does not mean that you will have to strike out all your leisure expenses. You just need to manage them and systemize them in a way that they do not exceed the required or allowed limit. Make sure at the end of the month you have not ever spent, if you have, then re-plan your budget and limit the expenses.

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Make a list of your spending priorities

Segregate your priority spending from your non-important spending. Separate the spending that can wait. You will need to pay your rent and fees every month, also the expenses of food can not wait, but a trip can definitely wait if you are short on budget or a random shopping can wait another month. Similarly plan for yourself and first spend on what is important.

Rely on self for basic works

A big part of your money is going to go on your food expenses, cleaning expenses, laundry, etc. and this big part can also be saved and used at a better place if you try cooking for yourself. At first, you can start by cooking one meal and eating others our, later you can cook for yourself all the meals and save a whooping amount. Similarly, you can start by doing laundry on Sundays and save money on that too. Saving for these basic activities will give you a lot of money that can be used in your leisure.

Look for sales

Though the students do not have this much patience, if you can build then it will be of great help for you. Be patient in your shopping, wait for the seasonal sales. Shop when there are sales and you will end up saving a lot of money. If not offline, all the online shopping platforms always sell items at cheaper prices and also come up with many sales every couple of months, shopping online can also help you in your mission. 

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Take up part-time jobs 

If you feel like your expenses are way greater than the amount that is available to you, then find an alternative to earn extra money. Most of the study abroad students take up part-time jobs along with studying. There are plenty of options available. Aptiona like teaching, data entry, being an agent, giving courses, etc. there are plenty of options, you just need to find the best for yourself and make a side income to support your expenses and also add experience to your resume.

Take public transports

You will need to travel a lot if your accommodation is far from the university or if you are an enthusiast. You definitely can not remove the cost of travelling completely, but it can be cut through. You can replace the private transport system with public transport. Public transport costs way less and can save you a handful of money each day.

Use student card

If you are a student, you have an advantage. Advantages of playing your student card. You can save plenty of money by using your student card for travelling, sightseeing, and museums and some of the cafes also give discounts to the students. Every time you go to a new place, without shying away do ask if there are any student discounts. It will help you master your plan of savings.

It is a sure fact that if you can adopt these habits then your finances will never run out and you will have a very systematic and managed lifestyle. You may also help others in managing their budget and get inspired by you. So don’t wait for the next time you run out of money, start your planning now and be an expert at it.

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Hope this blog on How to become a finance guru while studying abroad be of use to you and help you make your finances systematic. To read more such interesting blogs, kindly follow Infotainment and to read about studying abroad follow Leverage Edu.

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