5 Money Saving Tips for International Students

The United States can be an expensive place for many international students to live and study. Apart from tuition, international students have to pay for rent, utilities, phone bills, groceries and host of other miscellaneous expenses every month. Everyone’s spending habits are different, but by doing these few things international students can cut down on their expenses drastically.

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1. Live off campus – On campus living is a great experience for international students. Living on campus allows an international student to quickly adjust to their new surroundings, make new friends, quick access to university facilities and to take full advantage of all that a US college has to offer. However, this comes with a steep price tag. For example, a double share room at a state university in Minnesota for three months is $1600 which is a lot more than renting a room at an apartment off campus. Also, when you live off campus you may have to buy meal plans at the school cafeteria which is more expensive than cooking at home. Therefore, if you are looking to save a lot of money then live in off campus housing. Click here to read my article on accommodation in the US.
2. Eat at home – Eating out in the US can be quite expensive. A sandwich costs $5, coffee $2 and a meal at a decent restaurant for two can easily run up to $25. It is best for international students to eat at home as this will save them a lot of money.
3. Use public transportation – Most cities in the United States have a very good network of buses, trains and subways. Use these. Get discounted monthly passes for students to the city transportation system and save money. Do not buy a car to get around.
4. Avoid buying a car – This brings us to our next point on the list. Do not buy a car if it is not absolutely necessary. You can buy a used car in the United States for as low as $500. This can be very tempting for students to buy a car. However, owning a car can burn a hole in your pocket and make you wish you’d never bought the car in the first place. You need to buy auto insurance if you operate a vehicle in the US. For first time drivers, this usually costs around $1000 for six months. Also, you need to pay for gas, repair costs ($500 cars break down often) and yearly registration fees. Therefore, do not buy a car unless you feel comfortable that you can afford it.
5. Use coupons -Most stores in the US offer coupons to their customers which lets them shop at discounted prices. You find coupons in newspapers, online and in your mail box. Use these coupons to buy essential items and save money.