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5 Savings Tips so you can study abroad

Having the opportunity to study abroad will become one of the best experiences of your life. It will be a moment when you embark on an unforgettable adventure, offering you many opportunities.

The global situation generated by the coronavirus has also caused us to pause these kinds of dreams. For this reason, we must rethink our goals during this time, in order to focus on what we really want to achieve. 

Here we share 5 Tips that will help you save so that you can fulfill your dream of studying abroad.

1. Plan your future

If you dream to live a season abroad to study, you can make it happen. Making the decision to save money for studying abroad may seem simple, but it is the first step in fulfilling it. It's all about setting a goal and taking on it, leaving aside other things that may not be a priority at the moment. It’s about taking action and beginning to make the necessary efforts to achieve your goals.

2. Research and find out what is the best destination for you

estudiar en el extranjero

Before you start your search you may already have a country in mind, so consider the following factors to make a decision:

  • The educational agencies and courses offered (their quality, prices, ease of payment, and acceptance policy). Educonnecting offers you a wide variety of academic programs according to the country of your choice.
  • Consider the types of visas available to study in the country you selected and the entry requirements for people in your country.
  • Weather: If you care about the climate of the place you are going to live, investigate if it is a warm or cold place.  
  • Cost of living: Find out if it's an expensive place, if you can afford basic expenses with a job and if there are benefits for international students.
  • Student environment: Many young foreigners value studying in places where there are more young people to interact with.
  • The possibility of working at the same time as you study. Depending on each country, there are student visas that allow you to work, such as in Australia or New Zealand.
  • This factor is important when deciding on a place, as it will allow you to pay for your own stay.

3. Decide where and when

Once you take into account the previous aspects, it's time to complete your plan. Choose the city you want to live in, the course you’d like to study and the date to start your studies.

This will allow you to activate your plan, create a savings calendar, and focus on your goal.

4. Find out how much money you need

With the course, the city and the defined date, you can now calculate how much money you need to travel and start your adventure.

What does this initial investment amount include?

  • The one-way plane ticket.
  • The cost of the visa (if paid).
  • The cost of health insurance for your entire stay (usually mandatory).
  • The cost of your course. 
  • Count on enough money for the first few weeks. Upon arrival, you will need to search for a temporary accommodation while looking for a definitive place.
  • Think about including the money for basic expenses, until you have a job that allows you to keep up.

For an estimate of the cost of living of the city of your choice, go to Numbeo.

5. Schedule your savings

estudiar en el extranjero

Scheduled savings can become a habit, but it is already in each of us to know how we manage our finances, so you must find the best option that allows you to reach your goal.

  • Set a goal within a specified period of time.
  • Divide the amount you're saving between the months remaining to the date you've proposed. This way you'll know how much to save monthly and control your expenses.
  • Create a savings account that you can't touch in your bank and that also generates profitability.
  • Separate your savings money from your income by starting the month and not at the end. This way you will avoid spending the money you set out to save.

Immerse yourself in a new adventure

Although reaching the finish line can be difficult, it's not impossible. With perseverance, you will be able to reach your goal of studying abroad. At Educonnecting,we will support you from the moment you decide to say yes to this great adventure.

Australia, New Zealand, Canada and Malta are the countries you can study with us. If you are interested in any of these places, do not hesitate to contact us through our communication channels. We are ready to give you all the advice you need to fulfill your dreams.

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