Living and schooling abroad can be quite challenging. The psychological and emotional feeling of moving away from home, adapting to a new environment can be difficult if not handled correctly. Having a knowledge of how to navigate living expenses for international students is an important step to having a quality living experience abroad.
Statistics have shown that the estimated cost of living in the USA for international students is around $10,000 to $25,000 and £12,000 to £15,000 in the UK per year.
However, you can always thrive in your new studying environment by carefully paying attention to the living expenses for international students in your location and how you can scale through. In this guide, we’d take you through understanding and planning for living expenses for international students.
Let’s get to it.
Types of Living Expenses for International Students
Here are important types of living expenses for international students:
Accommodation
This often constitutes the largest part of an international students’ budget. The cost depends on location, housing type, availability of certain utilities and easy accessibility.
For international students in countries like the USA, the rent for an apartment ranges from $500 to $2000 which may or may not include utilities. However, you can explore other housing options depending on your budget which includes:
- On-campus Housing: This is also called dormitory, with an average of two students per room. You get to share the “dorm” utilities with your roommates and it’s also a good way to socialise.
- Private Rentals: Renting an apartment off-campus may afford you some privacy and independence if you’re considering that. You can explore affordable apartments or share the cost with someone.
- Student Residence: There are affordable accommodation options designed for students with amenities like sports utilities, gyms and study rooms.
- Shared Apartment: This concept refers to renting an apartment e.g a two or three bedroom flat and sharing it among students. This option should not be overlooked, as students might be too focused in apartments designated only for students. In this case, an apartment might be rented away from the school environment and shared, sharing the rent have shown to be cost-effective during a a house shortage.
Food and Groceries
You may have to spend up to $400 or £450 a month on shipping for food products in nations like the USA and the UK respectively. Although, this may vary depending on location and how you’re sourcing for your food items. You can cut down on your food expenses with these tips:
- To prevent impulsive purchases and minimize food waste, make a weekly meal plan and shopping list.
- Bulk purchases of non-perishable goods might result in cost savings. Check the neighborhood stores for deals or discounts for students.
- Local markets offer fresh products at a lower cost and help sustain local farmers.
- Eating out most times may increase your food expenses. You may decide to cook your meals at home and eat out once in a while.
Transportation
Transportation costs depends largely on your accommodation location, and availability of public transport. Taking a cab or taxi every time may increase your transportation expenses to $100 or $120 (in the USA) instead of $45 to $50 per month for a public transport pass. If you’re looking to cut down your living expenses as an international student, you can explore the following transportation options:
- Public transport, which is affordable and you can enjoy discounts or monthly passes given to students to reduce the cost of commuting.
- Bicycles, which are also cost-effective and environmentally friendly. You can also use it as a way to exercise if you’re looking to stay fit throughout your stay abroad. Most schools have partnerships with bike companies, you can explore that option to get discounts which in turn saves you money.
- Walking, which is an economical option if you stay close to the campus. This option can also serve as a form of exercise which is a health benefit.
Books and Study Materials
Books and study materials are an essential part of living expenses for international students. However you can reduce your expenses on books by exploring these affordable options.
- Second hand books: Books from former students are always available as second-hand commodities in bookstores.
- E-books: Digital books are way cheaper than hard copies and it can help you save money easily. Also, they are quite handy and accessible.
- Library: Schools library facilities are easily accessible and stacked with books that are useful for your learning.
Miscellaneous Expenses
This may cover expenses such as emergencies, travel, communication and some personal expenses. Ensure you set some money aside for certain emergencies such as health, travel or some school expenses. You can also leverage on health insurance which costs a few dollars per month.
Conclusion
Budgeting as an international student is a key part to not just survival abroad but excelling, it is essential to comprehend and manage living expenditures for your study experience to be effective and stress-free. In this article we mentioned some key expenses to consider which includes food and groceries, accommodation, transportation, study materials.
You can make the most of your time abroad by carefully planning and budgeting, putting less emphasis on money problems and more on your education and cultural experiences.
