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Let’s be honest! It is quite hard to manage your expenses while studying abroad. Something always comes up and you need to spend money. It does not matter whether it will be a spontaneous night out with friends or you need to buy new furniture for your room. Worry no more! We got you covered! In this article you will find some useful tips on how to save up some money while still enjoying your student life:

Tip 1: Create a solid monthly budget

The first and most important step for spending money correctly is to estimate your monthly budget. Calculate approximately how much you spend on things such as rent, utilities, groceries, university related stuff, ect so you know exactly how to distribute your money. Many banking apps provide functionality to track your monthly spending if you use your bank card.

Tip 2: Apply for benefits and allowances

When studying abroad you may be eligible for different social incentives such as rent, health insurance or maintenance cost allowances. This can reduce your expenses so you can save up for other things. Contact your university or fellow students to find out which grants or allowances you may be eligible for.

Tip 3: Buy food from the local market 

Food is one of the biggest expenses of students. Supermarkets provide a great variety of products but sometimes they may be a bit pricey. Find out budget-friendly supermarkets in your neighbourhood to get the most of out of your budget. Or even better, buy your weekly groceries from the local market in your city. Not only are they fresher and healthier, but they can also be significantly cheaper.

Tip 4: Get thrifty

A great way to save money is to buy second hand. You can easily find everything you need – home appliances and furniture to bicycles, clothes, books,… you name it. In the Netherlands, Marktplaats.nl is the biggest online marketplace for second hand items. But also Facebook marketplace is a great place to start. However, be very conscious and request a viewing before you pay!

Tip 5: Store discounts

Every store, it does not matter whether it is a grocery or a clothing one, has different weekly discounts. Try to keep an eye on these discounts as they are a useful means for saving some money.

Managing your budget is not an easy task. In the beginning it may be quite difficult to navigate with your money, however, if you follow these tips, you will succeed in staying on budget while still enjoying your student life.

 

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