Imagine acing the IELTS and saving thousands on your study abroad journey by making smarter choices. It’s easier than you think! The dream of studying abroad often clashes with the scary reality of extravagant tuition fees, housing costs, and day-to-day expenses. Mastering the IELTS is the crucial first step to unlocking doors to global universities, but that’s only half the battle! What you need is a well-structured savings plan, focusing on careful thought-out spending and strategic saving to ease the burden during your international education time.
Break Down Your Expenses: From IELTS to University Costs
Successfully funding your study abroad begins with a clear understanding of all expenses. Key expenses can include IELTS registration and coaching fees, university application fee, tuition fees, accommodation costs as well as travel expenses (flights, visa, and initial settling-in costs). Once you have a comprehensive list, you can consider utilising a budgeting strategy. You can start by separating your expenses into essential categories (tuition, accommodation, food) and non-essential ones (entertainment, eating out). This categorisation will help you manage these costs effectively. This way you can monitor your spending in real-time, set budget limits for different categories, and gain insights into your financial habits, ensuring you stay on track to fund your global education.
Maximize Your IELTS Preparation on a Budget
To effectively prepare for IELTS on a budget, you can consider investing in online courses that offer a combination of affordability and flexibility. Affordable and expertly curated courses, like those offered by , are perfect for balancing quality and cost. Combining these with free online resources such as engaging podcasts, informative YouTube channels dedicated to IELTS, and interactive language exchange platforms for speaking practice can go a long way in helping you prepare effectively. Further, you can also form local study groups to share preparation materials and minimize costs. Making use of these approaches and methods will help you prepare for IELTS on a budget.
Plan Your Finances Before You Pack
Create a Monthly Budget and Be Strict
Setting a realistic monthly budget starts with assessing your income and outlining necessary expenses like housing and food. To effectively create a robust budget, you can utilize budgeting apps and meticulously track where your money goes, what areas to reduce spending in, amongst other things. To stick to your budget, even during emergencies, allocate a small portion as an emergency fund each month. Regularly adjust your budget as needed to ensure it remains consistent with your needs abroad!
Understand the Difference Between Wants and Needs
To avoid unnecessary spending, you must prioritize basic expenses above all else. Tuition fees, rent, and necessary study materials should be your first concern! Be mindful of secondary spending . While we understand how important socialising and taking out the time for your own self is, it’s equally important to evaluate each purchase and ask if it directly contributes to your educational goals. Opt for cost-effective alternatives like cooking at home instead of frequent takeaways, utilizing student discounts wherever possible, and borrowing books from the library rather than buying new ones. Every penny saved on non-essentials brings you closer to funding your international education dreams!
Living Smart: Save While Abroad
Choose Shared Accommodation to Stay
Shared housing can become a significant opportunity to reduce the substantial living costs associated with studying abroad. Sharing rent, utilities, and groceries with roommates can be a good way to manage to save. To find safe and affordable shared accommodation, you can explore reputable online platforms specializing in student housing. Don’t overlook university resources, as many institutions offer listings for off-campus shared apartments or have their own affordable housing options. Prioritize safety by reading reviews, verifying listings, and, if possible, visiting potential places before committing. Careful research will help you find a comfortable and budget-friendly living arrangement.
Cook Your Meals
Home-cooking your meals can significantly cut costs. Restaurant prices include profit margins, unlike grocery store prices. You can resort to quick, affordable recipes like pasta with canned tomatoes and lentils, or scrambled eggs. If you have a busy schedule, dedicate a few hours to meal prep: cook large batches of grains and keep some vegetables roasted. Portion meals into containers for easy grab-and-go lunches and dinners, saving both time and money!
Wait for Sale to Shop for Grocery and Other Essentials
Plan your grocery trips. Yes, you read it right. Grocery stores often have weekly discounts where you can get the same food and other utilities for lesser prices. Make use of these discounts. Some places also offer additional discounts to students. Plan your meals around discounted items. Stock up on non-perishables when they’re on sale. Many apps also offer digital coupons to present before your grocery visit. Combining store sales with app discounts maximizes your savings on essential groceries!
Smart Spending Strategies
Limit the Use of Credit Cards
Avoid over-relying on credit cards since high-interest rates can quickly lead to piles of debt! Use those cards strategically to build credit by making small, regular purchases and paying the balance in full and on time each month. Reserve credit cards for genuine emergencies when you lack sufficient cash. To further save on those high interest rates, only spend what you can immediately repay to avoid accumulating costly interest charges. Responsible use is key.
Buy Second-Hand Products
You can also save a considerable amount of money by buying second-hand books, electronics, and furniture! For books, check university alumni groups or look for used bookstores near your campus. For electronics and furniture, explore OLX, Quikr, and Facebook Marketplace for local sellers. You might also find good deals at local thrift stores or markets. Buying used is not only budget-friendly but also environmentally conscious. Happy hunting for great finds!
Explore Additional Funding Options
Get a Scholarship
Want to further cut down your expenses during your studies abroad? Seek scholarships specific to your field and region! Start by checking your host university’s financial aid website and your home country’s educational ministries. Explore online databases like scholarships.com or internationalstudent.com, filtering by your subject and destination. For a better chance at scoring these scholarships, you must submit compelling essays in your application. You must understand the scholarship’s goals, highlight your relevant achievements and aspirations, and tell a personal story that demonstrates your passion and suitability.
Look for Part-Time Work
Even before considering any part-time work, you must first be aware of your visa’s work regulations. It varies from country to country. Once you’ve checked that out, you can explore a plethora of side-income options. For example, on campus, you can explore roles like teaching or research assistant, or library aide through your university’s career services. Off-campus, you can search for freelance opportunities such as online tutoring, or content writing. You can also look for part-time positions on local job portals or inquire at cafes and educational centers. Remember that your studies are your first priority and you must, in no way, forget that while trying to earn a little side income.
Smart Travel and Transportation
Use Public Transport to Commute
Consider public transport as your new best-friend for the duration of your studies abroad! Research bus, train, and metro/ tram options in your study destination. Inquire about student discounts offered by transport authorities or even your university. Often, showing your student ID helps obtain reduced fares. Consider purchasing a monthly or weekly travel pass for unlimited rides, which can be more economical than single tickets. Plan your routes and travel times to maximize efficiency and savings.
Conclusion
This article highlighted some tips for you to save money abroad by cooking, shopping smart, using public transport, and seeking scholarships. Buying second-hand and working part-time can also help without sacrificing your experience of living in a new country. Remember, achieving your study abroad dreams requires smart planning and effort, including preparing well. La Foret’s IELTS Preparation Course can help enhance your score in the exam while you mentally prepare the checklist to serve your foreign dreams!
Frequently Asked Questions
1. What is the fees of the IELTS Exam?
Ans: The IELTS exam fee in India typically ranges from ₹17,000 to ₹18,500.
2. What is the minimum budget to study abroad?
Ans: Studying abroad can cost at least ₹8 Lakhs – ₹12 Lakhs per year. However, this is just an average budget and your expenses can largely depend on the country you choose and the course you enroll in La Forêt Education.
