Spending a semester (or longer) studying outside the country is an enriching, life- changing experience. But it’s also very expensive. How can you make the trip without destroying your financial future? Here are three practical things you can do:
- Create a Budget
Budgeting allows you create a spending plan for your money. If you’re going to afford to travel, you need to have a travel savings account and you should be adding to it every month. To be able to save more money, you need to know how you are spending what you currently make. Are there things you can cut out? Could you stop paying for some subscriptions you do not need? Could you prepare meals at home and eat out less?You could create a savings account for this. Figure out what your income adds up to and the next time you get paid, automatically transfer that sum of money into your “travel savings account.” True, budgeting involves some discipline and at times sacrifice. But it can help you keep your eyes on the prize.
- Make More Money
There are some companies out there that make it easier for you to make more money outside of traditional employment. Decide on the options best for you. You could explore on what you can do as a skill. Can you design? Do you love writing? Are you good at organizing events? Each of these platforms caters to unique skills and talents. Figure out which one is right for you, set up your profile, connect with a few clients, and start earning some more money. You should link whatever income you gain directly to your savings account so you don’t get tempted to spend it on something else.
- Save Some Money While Traveling
To achieve this you could start by checking out discounted hotel and flight prices. Choose a cheaper airline to travel with. Touching back on student discounts, there are so many touring companies that offer reduced student rates. Besides traveling, it is important to shop and eat locally. Going to more local based markets and restaurants really helps when you’re on a budget. Avoid any type of phone service provider fees.There are apps such as WhatsApp that allow you to make calls and send unlimited texts to your loved ones for free. The only thing you need to enable you use the app is Wi-Fi.
Follow these tips and your experience will be full of enjoyment and relaxation instead of financial worries.