ou most likely have at least a rough budget that you adhere to while going about your daily, weekly, and monthly routines when living at home. But how do you figure out a budget for your study abroad trip? It can be tricky, but doesn’t have to be. A little planning, forethought, and estimation will go a long way to ensuring your trip goes smoothly, as there’s few worse predicaments than running out of money in another country! After reading our tips in this blog, a wealth of information can be found in our free e-reports, Financing Study Abroad and Guide to Pre-Departure.
Things to add to your budget
Of course, the usual suspects should be on here:
- Daily meals/snacks (if not included in your program)
- Daily transport between lodging and the school
- Going out/entertainment (dinners, bars, etc… )
- Souvenirs
- Cell phone/calling card use
- Internet use (Internet cafes or school fees)
- Weekend travel & excursions
- Incidentals: toiletries, film, batteries, etc…
But don’t forget about these important budgeting factors:
- Airline extra charges (baggage, food, drinks, etc… )
- Airport arrival & departure taxes (see Don' Forget About Departure Tax for more info)
- Entry fees/tourist cards
- Visa extensions
- School activity fees not included in your program
- Book fees and deposits
- Lodging damage deposits
- Unexpected emergencies
Ways to save money
- ISIC: If you are a student, get an ISIC (International Student Identity Card). They cost a little over $20, and the savings you can get will really add up! Make sure to review the benefits carefully, and when in doubt, ask if you can get a discount, it can’t hurt!
- If going to Spain or Latin America, contact eXito Travel, specialists in airfare for those studying abroad.
- Skype: Skype is a wonderful tool to use while traveling. You can make free or cheap phone calls, surf the Internet on their worldwide WiFi, and much more. Find out more about Skype.
- Look into free events in your host city or country. Many great cultural experiences are available for free, check the Internet, or better yet, the local newspapers.
- Ask around for the most inexpensive place to shop for groceries
- Know how much the exchange rate is! Don’t get ripped off by finding the best place to exchange your currency. Universal Currency Convertor
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