How to budget as an international student
Need help calculating and sticking to a student budget? Keep track of your costs using this guide from a financial education expert
Budgeting is not the most exciting topic, but financial well-being is critical to your overall university experience.
Recent research commissioned by financial education resource Blackbullion found that nearly half of students have considered dropping out of university or deferring by a year because of financial barriers, which has only been exacerbated by Covid-19.
Some 75 per cent of students surveyed were worried about finances and 67 per cent said that financial anxiety affected their mental health. Being away from friends and family, and with the extra costs of studying abroad, international students can often feel this more acutely.
Having a budget doesn’t mean your money is sorted, but it does mean you have a plan to sort your money. A budget to track your income and expenses is how you monitor money coming in and going out; you know where your money is rather than wondering where it went. Here’s how you can optimise your finances as an international student.