Studying abroad? Read these essential money tips

More and more students every year are going abroad to start or complete their further education. As great as this path can be, it can be a costly one. If you’ve got money worries about studying abroad, check this out.

Take the right first step

Sometimes, simply getting to the college you need to get to can be the most expensive part of the entire process. Unfortunately, a lot of students have already gone through the stage by the time they realize they could have gotten some help with it! By the time people come to appreciate the need to be wise about money while they study abroad, they’ve already gone through an expensive stage!

If you know you’ll be studying abroad but haven’t yet gone through the college selection and application process? Then you’re still in with a chance of saving a lot of money there. It can all come down to making sure you have the right guidance. This is also essential because of the demand to actually get into these colleges, especially if you’re going to America. Getting help with international college admissions can help you secure a place without wasting money.

Exchange and conversion

Do you know how much your cash is going to be worth in another country? For a lot of people, the temptation is there to base their location decision on how good the exchange rate is. Well, I wouldn’t suggest giving up on an academic dream just because the exchange rate isn’t great. That being said, you definitely need to keep this in mind. A lot of money in one country might not be worth a lot in another country.

Make sure you do a little bit of research on how well your currency can perform in the country of your choice. Another thing you need to consider is the fees that you can be charged for using an ATM. Make sure you talk to your bank before you go studying abroad. It’s very possible they’ll have a plan tailored to international studying that you can take advantage of. They’ll be able to tell you more about ATM fees, and may even supply you with a new card to use abroad.

Earning money

Colleges aren’t cheap. As soon as you’re done with studying, you’ve got student debts to pay off. For many people, this is a strong enough reason to get a job while they’re in college. After all, just paying for everything using student loans isn’t exactly the smartest of ideas! But how exactly do you earn money while abroad? This is an especially tricky question if you’re in a foreign territory and don’t speak the language fluently.

One of the most effective job ideas is teaching your own language to foreign students. Many people believe this requires you to speak their language perfectly, but this isn’t the case. If you’re in a student-heavy town, though, there will probably be plenty of part-time jobs available for you. I would, however, suggest getting a job before you leave. Earn as much cash as you can before you depart on your new academic adventure.

Photograph by Mancala

1 comment

  1. Pingback: Bills bills bills! The ins and outs of earning cash at university | Student Banker

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