Many of us college students get the incredible opportunity to spend time abroad during our four years of school. Sometimes we can get caught up in the excitement of traveling and forget to seriously budget. Luckily, this article can jumpstart your future study abroad plans.
First, look at all of the explicit costs that your tuition/financial aid covers. This may include class costs and even housing. Also, if there is a program fee, figure out if that needs to be paid out of pocket or not.
Next, budget implicit expenses, which may include transportation, food, recreation money and shopping money. The latter being very crucial for most of us! These allowances can vary depending on how well you know yourself. If you plan on going out to eat every night, then you’ll need to budget a lot of money for food. If you know you’ll be able to walk to most of the time, then you can save money on transportation. Additionally, don’t forget to budget for emergencies and miscellaneous expenses.
Finally, enjoy the experience! This has the potential to be a life-changing semester and you do not want to limit yourself at all. Work hard before you leave and play harder once you get there. Let this be an once-in-a-lifetime adventure.