Accept it! It's a known fact that most college students live on a budget. Without a limited budget, as students you are likely to get yourself into a cycle of debt.
Debt or budget, neither of it is fun or easy. It is always better to be smart about the way you spend your money.
The key to financial success is to keep a track of how you are spending your money. It is not wrong to live within your means, rather than beyond.
Here are a few tips on money-saving for international students, during your stay overseas:
- Rent text books instead buying brand new one's.
- Impulse shopping? Stop it, now!
- Always pay bills on time, you can avoid late fees by this.
- Bad credits follows you everywhere; it is always better to pay off your credit card bills as quickly as possible.
- Use public transport to save on fuel.
- Share your dorm or room with trusted friends or roomies. You can split rent and utilities of course.
- Consider phone bills that have plans or tariffs that included unlimited SMS and free calls.
- Student discounts are usually available. Shop where they offer discounts. Don't forget to show you ID.
- Are you a fitness freak? Join the gym on the campus instead of investing for a gym in town. Many schools offer gym membership for free or at reduced rates for students.
- Do have any used stuff like clothing, furniture or gadget that you no longer need? Sell them!
- Do not buy unnecessary school supplies. Type in notes and other stuff on laptop. Go Green!
- Borrow books from the library, don't rent or buy them if not really important.
- Try volunteering for the causes you like, gives you experience along with a little pocket money.
- Open a savings bank account. Make sure to put in some saving every week or month. End of the year, you will have a handful.
- Keep a track of your finances. It will prove difficult if you are light-hearted about where your money is going.
- Don't take a loan for anything that is not related to your education.
These are a few healthy tips that will help you save considerable amount of money.