{"id":30744,"date":"2019-11-15T13:24:30","date_gmt":"2019-11-15T18:24:30","guid":{"rendered":"http:\/\/blog.studyabroad101.com\/?p=30744"},"modified":"2019-11-15T13:24:30","modified_gmt":"2019-11-15T18:24:30","slug":"managing-your-money-during-your-stay-overseas","status":"publish","type":"post","link":"https:\/\/www.studyabroad101.com\/blog\/2019\/11\/managing-your-money-during-your-stay-overseas\/","title":{"rendered":"Managing Your Money During Your Stay Overseas"},"content":{"rendered":"

Studying abroad\u00a0costs around $13,000 in fees<\/span><\/a>\u00a0on average, but there are many other costs to take into account. If you move to a renowned city like London or Paris, then you can expect to pay more for accommodation, food and activities. You can save cash by moving to a country with low living costs, but you still have to be\u00a0good at managing your money<\/span><\/a>. When dealing with a foreign currency, it can be hard to gauge how much something costs, causing you to overspend. Luckily, there are a few simple habits you can implement to ensure you don\u2019t run out of money during an amazing year spent studying overseas.<\/span><\/p>\n

Research Your Destination Country<\/b><\/span><\/p>\n

In order to budget effectively, you will need to become familiar with the price of essentials in your destination. You can find specific advice for different countries online;\u00a0this review of XE Money Transfer<\/span><\/a>,\u00a0for example, offers particular advice for New Zealand. Being a relatively expensive country, it is important for students located in New Zealand to\u00a0set their budget accordingly<\/span><\/a>, while for other countries you might be able to set a less strict budget.<\/span><\/p>\n

Convert All Your Purchases<\/b><\/span><\/p>\n

Download a currency converter app so that you can see the exact price of everything you buy. The\u00a0average person overspends when abroad<\/span><\/a>, and it is very rare that someone stays within budget. This is especially true where the value of the currency is significantly lower than your own. When guessing, people tend to estimate a price to be lower than it really is, so use a currency converter to ensure accuracy.\u00a0<\/span><\/p>\n

Furthermore, some items that are familiar in your home country may be vastly more expensive abroad, even if general living costs are lower. When you convert the price, you\u2019ll find better deals on locally sourced products.<\/span><\/p>\n

Explore The Options For Free Fun<\/b><\/span><\/p>\n

Studying abroad is a time to really enjoy yourself, but this doesn\u2019t necessarily involve spending money. If your budget is tight, think about entertainment options which don\u2019t cost a penny. For instance, many museums in the UK are free, while other countries will have plenty of nature you can explore. This could end up being a more fulfilling and memorable experience than that things you pay for.<\/span><\/p>\n

Studying abroad is an amazing experience, so don\u2019t ruin it by landing in financial problems. Do your research beforehand, keep a close eye on currency conversion rates, and explore free entertainment options. With these three tips, you will find it easier to properly manage your finances while studying overseas.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Studying abroad\u00a0costs around $13,000 in fees\u00a0on average, but there are many other costs to take into account. If you move to a renowned city like London or Paris, then you can expect to pay more for accommodation, food and activities. You can save cash by moving to a country with low living costs, but you […]<\/p>\n","protected":false},"author":21,"featured_media":30745,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_ppma_block_editor_authors":""},"categories":[464],"tags":[],"ppma_author":[684],"class_list":["post-30744","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-students-2","author-abroad101"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t