Money is limited and human wants are unlimited but that doesn’t mean we spend our hard earned money in fulfilling our wants. Self control is a necessity especially when you are not in your home country. You need to be firm with your choice of expense you are spending your money on.
You can practice below mentioned ways to curtail down your expense in the foreign country and reduce your debt too.
Saving money on textbooks
Avoid buying new textbooks
Paying for textbooks can be crazy expensive, so look into buying them used or renting textbooks. Used or rental textbooks are often in great shape and sometimes even come with notes and important parts highlighted. Asking students who’ve completed the class to sell or loan you their books is also a great way to save money.
Sell your textbooks
Once you’re done with your textbooks, sell them! While the return on investment for textbooks isn’t great, when you’re a struggling college student, an extra hundred dollars at the end of the semester can mean a lot.
Keep searching and applying for scholarships
Many students stop applying for scholarships after they graduate from high school because they mistakenly think they’re no longer eligible. In fact, there are billions of scholarships available to college students! Treat it like a part-time job and spend a few hours each week searching and applying for scholarships the entire time you’re in college. The more scholarships you apply to, the better your chances of being selected.
Budget weekend spending
It’s important to budget the amount that you spend on weekend activities. Set a spending cap for the weekend and think of creative ways to spend less. For example, watching a movie at home with your friends, instead of going to a theatre, can save you a lot of money — and can be a lot more fun!
Save money by eating at home
Sure, eating out is fun and easy, but it’s not cheap! Cooking at home can save you a lot of money and be a great excuse to get together. Make it an event and invite friends to cook a group meal and share expenses. Look for recipes online and rotate hosts. Not only will you save money, but before you know it, you and your friends will learn new culinary skills.
Ditch the car
Not all colleges let freshmen have cars on campus, but even if yours does, you still may not want to do it. Having a car on campus can be very expensive — you have to have car insurance, pay for gas, maintenance, and repairs, and buy parking passes every semester, which adds up to a ton of money. Instead, save money and help the environment by using public transportation or riding a bike. And if you really need to, you can always take a cab every once in a while.
Monitor your spending
Keeping track of and setting a limit on how much you spend will help you maintain a steady cash flow. The skills you learn by managing your money in college will help you throughout your entire life. The more you practice, the better you’ll become, and the more money you’ll have when you need it.