Many students at some point have thought countless times about ways to save money for study abroad. Higher education is not very cheap and one may think paying for that alone is a lofty enough goal. Study abroad can cost much more considering any extra things you may need for your stay out of country. However, in this post we’re going to show how you can get money and save money for study abroad.
10 Ways to Save Money for Study Abroad
And here’s this list! Take notes, implement them, and save money for study abroad!
1) Savings Account
Opening a savings account is one of the best, and most popular, ways to save money.
Saving money may seem boring, but think about the benefits you can get after graduating from a prestigious university. The main rule of effective saving for a bank account is to limit the amount of access you have to the funds so you aren’t tempted to buy unnecessary items. It can be easy to start saving now by opening a saving account since saving account is an ideal option when you want to save money for study abroad.
2) Cut Costs
Whatever your current costs are, you still can save.
- You can read books on budgeting to increase your financial awareness.
- You may cut your transportation costs by carpooling.
- If you want to cut down more expenses to save money, you can start by cutting out unnecessary costs such as Netflix or spotify subscriptions and eating out.
- Impulse buying can also be a place to cut out expenses.
Few people realize that TV subscriptions and eating out excessively takes significant amounts of money each month.
- Try to buy food in a community supermarket, and
- Cook at home to save a great deal of money.
- Save money by also watching regular “free” television or just read a book.
Soon you will notice that a lot of money is spent on things that are not worth it. For example, refuse using a taxi or buying ice-cream/coffee every day. It can be a very useful way to save money for study abroad and also might help with a healthier lifestyle.
Related: Big Costs You Can Do Without
3) Find a Job
If you don’t already have a job, this would be a great opportunity to find one or more jobs. This will be ideal to help save money for study abroad. The Internet offers unlimited opportunities for earning money even for children. Side hustles have become very popular in today’s modern society since it is becoming a necessity.
Related: 50+ High Paying Side Hustles
One of the options is to be employed by a writing service and start writing essays. If you’re lucky to find a job at a custom essay writing service, you can collect a decent amount of money and pay for education.
You can also start a blog to get a little more money for your savings. (Starting a blog only costs $24 for the entire first year!!)
- Serving as a waiter,
- cleaning homes,
- driving for Uber/Lyft, or
- dog walking are also wonderful options for earning money without too much effort.
By working multiple jobs, you can learn how to become financially independent. This can be the first step to independent life while studying abroad.
4) Save Change
By saving change, one can collect a fair sum of money in order to save money for study abroad. You will need a special bottle to put coins inside, but it should be difficult to take them from this bottle. Don’t underestimate this approach of saving money – you can collect approximately $300-$500 per year! The amount depends on the size of the bottle, however. Ask your parents for help – this will leverage your efforts. Indeed, this is a painless way of saving money.
You probably never knew that significant capital is hidden at home.
- Old books,
- used clothing,
- home and kitchen accessories that your family doesn’t use…
You can extend this list. Offer your old clothes that still look good to your friends or use the internet to sell these clothes. I had this experience a couple of years ago: the money I earned by selling unnecessary things was a source of additional funds for me for one year! Also, I earned some additional money by selling this essay. Therefore, set your priorities and get rid of rubbish with obvious benefit!
6) Use Coupons, Promotion Codes and Discounts
Now we all have vast opportunities to use coupons, codes, special discounts, free subscriptions, memberships and promotions. This can be helpful when you are tyring to save money for study abroad. Few people can afford to buy brand name clothes at full price. Great deals are available on e-commerce websites and anyone can take advantage of this.
7) Eat at Home
Eating out takes significant amounts of money each month, but few people realize it! Try to buy food in a community supermarket and cook at home to save a great deal of money. Count money you saved on street food and tell me “thank you” in one year when you count the money you “earned” in this way.
8) Stop Impulse Buying
Yes, cute teddy bear or modern game clicker sounds seductive, but do think if you really need all these things. Immediate gratification fills us with positive emotions for a couple of hours (that’s it! Totally not worth it!!). Saving money is something different. So, you should set priorities.
9) Launch a Company
This sounds like the craziest idea, but now starting a company is easy with the help of special websites like Kickstarter. Search on the internet for them and read their conditions. This can be the first step to your success, not only to earn a couple of bucks.
10) Use Low Costers
If you’re an international student, use low costers and special student discounts to buy flight tickets. This will help save significant amounts of money for your education. Browse websites that are offering plane tickets with discounts. You can even expand your travel geography in this way because some tickets are really cheap.
Save Money for Study Abroad – Conclusion
There are many ways to collect money. You can save (focus on spending less) or find a job (focus on earning more). It doesn’t matter if it’s essay writing or serving as a waiter in a community pub – you have a wide choice to earn money nowadays. You just need to be creative and inspired to collect money for your studies.
Are you looking to save money for study abroad? What is your plan for saving??
AUTHOR LaTia Longuemire
My name is LaTia Longuemire. I enjoy writing, singing, and cooking in my spare time. My passion is helping others. At this stage in my lifetime, I'm primarily focused on my children. They are everything that keeps my world spinning.