When you are studying abroad, one of the toughest things is to NOT SPEND more; because till now you would have got your pocket money from your parents and there is a high chance that you wouldn't have managed the expenses till now. But, when you live abroad you are burdened with all the groceries, clothes, etc., that you have buy on your own and you gotta manage it well.
Trust me, it is going to be difficult. I have seen many people, who have the new-found liberty to spend as they wish and at the end of the semester, they will be asking for money again from their parents. I wish that, you will not be in this position. The main reason for this is, you are in a new financial system, with new currency and different pricing methods.
You may think that, studying abroad and living alone will train you to be an successful adult. In reality, the money management process comes as the first step that you will be taking towards becoming an adult. So, here are some tips that will help you to spend less.
- Online Banking:
Most of you will be having a Deutsche Bank - "Blocked Account", which you would have opened during your VISA approval. But, did you know that, Deutsche Bank Germany has a brilliant Online banking system, which shows your monthly expense over the year, also the predictions and it also gives you your budget. I feel that, everyone must use it and make the most out of it. - Know what you are buying:
When you are in a new country, with a new language and you will definitely find it difficult to get to know, what you need to buy. Which will result in you, buying whatever you see and thus spending a lot more than what you need.
You should be spending like what the locals will do, rather than spending like a tourist. When you are going for studies abroad, it is like you are going to be there for at least 2 to 3 years and hence, you need to learn to be a "local". - Additional income:
No one is going to tell you not to earn a little bit, along side your studies. But, it is all your skills to get a job and make money. It necessarily doesn't mean that, you need to go out and do mean jobs, rather you have a excellent opportunity to work on your passion and try to make money out of it.
If you are good at something, you can make money online. You can log your activities in a blog or YouTube and there are many online jobs too. It all boils down to, where you look.
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