Studying abroad can get really expensive. Especially depending on where you go, how long your stay, and what you spend money on. Making a budget and sticking to it can help make your study abroad less stressful. The best way to plan a budget is to start with listing categories of expenses. Here are some of mine:
Housing
This category can sometimes be just one expense that includes everything or it could be a couple expenses that add up. If you’re staying in a dorm or hotel, this category should be just one expense: rent. If you’re renting an apartment or flat, you might need to pay for water, electricity, or gas separately. Also depending on where you stay, housing can be a daily expense, weekly expense, monthly expense, or just a semesterly expense.
Food
Food is one of the most important expenses to plan for, everyone has to eat. If you’re living in a dorm, sometimes you can have a meal plan included. If you’re opting out of a meal plan or being self-catered as they say at my university, then you’ll have to decide what you’re going to eat yourself. You can buy most of your food from the grocery store and cook for yourself to save money. Another option if you’re not proficient in the culinary arts, is go out to eat. This option can get quite expensive, however. A combination of both is what I do to get the best of both worlds. And you can’t forget your snacks and drinks you grab on your way to or from class.
Connection/ Streaming
This category includes your phone bill, internet if its not included, cable TV, any streaming services, or a VPN proxy if you choose.
There are always many options for phone plans that vary depending on your needs. If you’re going for a couple weeks at most you might not need to get a new phone or SIM card. You can try talking to your phone company about international/ travel plans. My phone company, AT&T, allows us to use our at home phone plan for only $10 a day if we choose. But if you’re going to be abroad for a month or more it might be a good idea to get a new phone plan in that country.
When choosing a plan you need to keep a few things in mind. One is price. how much are you willing to pay. Next, consider what you need. You probably need talk and text most. Unlimited text plans are now pretty standard and don’t cost much with unlimited talk not far behind. Data can also be a need but is sometimes more of a want. Make sure you consider where you’ll be most of the time. Sometimes less is all you need if you’re always going to be connected to the school’s WiFi or at an internet cafe. But if you’re going to be constantly out and about you might choose to have more data to post to Instagram or stream Netflix or Spotify.
Internet and cable in your dorm or flat can be an extra cost you might want. If living on campus, internet is usually included but off-campus it might not be. The same goes for cable. Dorms at my university don’t include cable but you can pay for a TV licence while many flats do include cable.
Finally if you’re like me, you really love your movies and shows and music. I have a growing collection of streaming services including Netflix, Hulu, Prime Video, and Spotify. As a university student, you can sometimes get student discounts of services. I know Amazon Prime offers a 6 month free trial to students with a university email and then $60 a year for up to the next 4 years. In the US, Spotify offers Premium for $5 a month including Hulu and Showtime.
Now to use all of your favorite services and access the same content you might at home, you’ll need a VPN proxy. VPNs are great not only for streaming movies from home but also protecting your privacy when on shared networks. Depending on your needs you might want to do some research on the best one for you. There are a few free ones out there you can try, or use the free trials of ones if you’re only going for a short time, otherwise you can find some VPNs that offer discounts for year long subscriptions.
Going Out/ Transportation
When studying abroad, you’ll probably be wanting to go out a lot to see everything while you can and making the trip memorable. If staying for some time it might be best to space your outings so you don’t spend everything all at once. It might also be useful to pay in cash if going out drinking, as it can be hard to keep track of how much you’ve spent after that third drink.
You might also want to think about how you’re getting back home after a night out. Is it close enough to walk? Should you take a taxi or Uber? Is there public transport you can take? Or do you have a friend with a car who can drive you?
If you’re studying for a semester or longer you might want to go out and explore nearby cities or countries. Europe is especially well connected and easy to travel around. You might want to budget for a trip to London or Paris. But make sure you consider not only how you’ll get there but also where you’ll stay, what you’ll eat, and of course what you want to do while you’re there such as tours or concerts.
Another cost you might include in this category is transportation home if you plan on going back home for breaks.
Essentials
This category includes everything from laundry, to shampoo. When going abroad, its best to pack light and only bringing necessities that aren’t easy to get a hold of once you arrive. If staying a while, you’ll need to wash you’re clothes which includes detergent, dryer sheets, fabric softener, and maybe even change for the machine. There are ways to save like making your own detergent or skipping the fabric softener but don’t forget about laundry completely.
Other essentials you should probably buy once you arrive are your typical hygiene products: shampoo, conditioner, toothpaste, etc. You should probably bring travel size products for the first week you move in but after you’ll need to buy the bigger bottles. If you’re a girl you’ll also want to bring some pads or tampons but don’t bring enough for the next 5 years. Only bring what you need and if you need to, buy more at the drugstore down the street.
Don’t forget where it is that going you’re going. If its somewhere sunny, remember sunscreen, or if you’re going somewhere cold or dry, hand lotion.
Shopping
No matter where you’re going or for how long, there’s a good chance you’ll want to buy something you see walking about. Whether its souvenirs for the family or gifts for your friends, or even just a little something for yourself, budget how much you can afford. If its something you need, like a new jacket because you ripped yours, try to look for discount stores or even thrift stores or charity shops that sell quality goods cheap.
Supplies
You might not be needing to buy new supplies every week or even every month but at least think about the things you’ll be using on a daily basis that you don’t need to bring from home such as pens, pencils, notebook, etc. You’ll also need your dorm supplies such as bedding, towels, clothes hangers, decorations, fans, cleaning supplies or cooking equipment. Some things might be included with your housing so its best to find out what will be provided for you before leaving or waiting until after you get there to buy anything big or heavy.
Medicine
The final category can be a really important one that people sometimes forget. If you have any prescriptions, its probably best to try and get an extended prescription so you don’t have to deal with trying to get it sent overseas or try and get a prescription for it wherever you’re going. I’d also advise thinking of bringing or buying some over the counter medicine for upset stomachs, headaches or common colds so you have them when you need them. And don’t forget to grab some bandages and ointment while you’re at it. Depending on where you’re going, the school or country might require everyone to buy health insurance. The UK is one of those countries, but you pay for it when applying for your visa. If you don’t plan on getting health insurance maybe budget in case of an emergency.
In Short…
So to summarize, the big categories to plan a budget are housing, food, connection/ streaming, going out/ transportation. shopping, supplies, and medicine. You can also include an little extra for anything that comes up or if you know of anything specific you’ll need. Here I have a little worksheet I used when planning my own budget. I’ve also included a blank one at the end.
The numbers come from what research I’ve found about St. Andrews and my own experience. As I have yet to go abroad, my numbers are subject to change. I’m also using both pounds and dollars to make it easier for me to see how much I’ll actually be spending. If studying abroad for a while, you might consider opening a bank account there. Some banks offer deals for international students but fees can build up and end up costing a lot. I’ve been told it’s easiest and most cost-efficient to open an international bank account. This will allow you to withdraw money from anywhere there’s an ATM, depending on the bank of course. An international bank account allows you to withdraw money where and when you need it, in the currency of the country you’re in but also making it easy for anyone back home, such as your parents, to deposit money into that account.
Another tip about money I might give is try getting a job if you’re allowed. In the UK you’re allowed to work up to 20 hours a week on a tier 4 visa. This extra income can really help offset the costs of studying abroad. Just make sure your working doesn’t violate any conditions of your stay in a foreign country and you don’t earn enough to be taxed back home.
I’m always willing to help anyone with any question about budgeting or just study abroad in general. Comment or contact me and I’ll do my best to give you advice. Of course my advice comes only from personal experience and opinions so feel free to get advice from others especially if they can give specific tips for your situation.
Cypher 