How to Study Abroad and Not Go Broke

Let’s face it, budgeting for studying abroad is difficult. You have no idea how much money you will actually need to buy groceries, travel, eat out, go clubbing, etc. Take it from me, a girl that studied abroad her senior year of college, you will spend a lot of money, but there ARE ways of saving money and cutting costs. Here are my tips:

1. Eat out as little as possible. Buying groceries and cooking at home will always save you money. A €10 dinner out can get you chicken and rice from the store and last you four or five days.
2. When you do eat out, be aware of the prices at each restaurant. The tourist attractions like the restaurants right on the edge of the Duomo, are going to be more expensive than the hole in the wall restaurant on the side street one minute away. Plus, the food is better most of the time.
3. Buy fewer souvenirs. I know you think that every place you go you are going to want something to remember it by, a shot glass or a bookmark, but let me tell you from experience…you rarely look at these things when you come home. I bought a shot glass from every place I went to in Europe and I regret it because now they are sitting in a box in my closet collecting dust. Plus, who in the world needs thirty shot glasses?!? Pictures get the job done just as well, if not better, and are free.
4. If you are a museum goer make sure to show your student ID. Most museums abroad give students discounts or free admissions, so make sure you have that golden ticket wherever you go.
5. Utilize public transportation or, even better, walk. If you are in a new city, make sure you always do some research on public transportation before you arrive. Taxis can get expensive, so if the destination you are going to is within walking distance, then give it a shot, or consider how much a bus/metro ticket is.
6. Give up buying coffee. A daily cappuccino might look cheap at first only spending €2 or €3 each time, but think about how much that adds up to over the course of a semester. You could be spending over €200 on just coffee, and that doesn’t even count the croissants. Try making your own coffee at home and investing in a cheap portable coffee mug to bring to class with you.
7. Take advantage of the free activities. You don’t always have to go out and pay for concerts or sporting events, as there are plenty of free events that take place around all cities every night. Look online or ask your program’s site director about the free activities. Some include park concerts, movie nights, game nights, etc.
8. Create a budget and stick to it. If you have a budget to go by and tell yourself that you can only spend X amount each week and try your hardest to stick to it, then you might find yourself saving a lot of money on impulse buys.
9. Utilize hostels. While traveling from country to country, always look into the hostel options versus a hotel. Hostels can be much cheaper than booking a hotel for a couple nights. Make sure you always do your research and read reviews.
10. Stay in and drink versus going out to a club. Drink prices at local bars or clubs abroad can get to be a bit pricey depending on the city, so think about buying a bottle of wine at the local grocery store and having a night in with some friends.

Saving money can be easy if you make your own set of rules to stick to. That way you can come home from studying abroad, having had the best time ever, and still have a savings account.

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