- Germany provides the most affordable European education with living costs of €992-1,300 (₹94,000-1.24L) monthly and free tuition at public universities.
- Part-time work during studies allows international students to earn ₹40,000-90,000 monthly in countries like Canada, Australia, and the UK.
- Suburban areas cost 30-40% less than city centres for accommodation across all destinations, making location choice crucial for budget management.
Studying abroad is an exciting journey filled with new experiences, world-class education, and incredible opportunities. However, managing finances in a foreign country can be one of the biggest challenges international students face. From accommodation costs and daily expenses to currency conversions and limited income sources, financial pressures can quickly become overwhelming if not handled properly.
The good news is that with smart budgeting and strategic planning, you can effectively manage your living expenses without compromising your student experience. This blog provides practical, actionable tips to help international students make the most of their financial resources, discover money-saving strategies, and enjoy a stress-free study abroad journey.Â
Navigating Living Expenses Abroad
Living abroad can be pretty difficult for the students. Students not only face challenges in adapting to new cultures, making new friends, gaining independence, and getting exposure but also in managing expenses, creating a budget & following it. However, one of the major difficulties faced by the students is managing living expenses. Staying abroad can be expensive for students since the cost of living abroad is higher than in India. This can create a financial burden on the students if their budget is not managed properly.
Expenses like accommodation, public transport, food and leisure can cause economic problems for students. There are multiple ways of managing living expenses & saving money.
Budgeting Tips for International Students
- Fix a Budget: Fixing a budget will help the students to plan their living expenses. By making a budget, they can understand how much they are supposed to spend per month on essentials, accommodation, food, groceries, etc. This fixation will help them to stick to their budget & avoid paying more.Â
- Accommodation: One of the best ways of managing living expenses is choosing a student-friendly accommodation. Staying alone will not be an advantage for those students who have a rigid budget. So, the most affordable way of managing living expenses is to stay with roommates or flatmates. This helps them split the bills, reducing the financial burden by paying them together.
- Living in Suburbans: Living in the city centre can be expensive for students. So, students living abroad can manage their day-to-day expenses by taking care of the most significant thing, i.e., location. Instead of living in the city centre, students can live near the suburban areas where the cost of living is pretty affordable compared to the city centre.Â
- Using Public Transport: Using public transport, bicycle or walking to the university is one of the most effective ways of managing living expenses. It lowers the cost of travelling compared to booking a taxi or a cab.Â
- Cooking Your Meals: Cooking your food will help you manage your expenses. It not only saves money but allows you to enjoy the food you like. This is a better alternative to managing monthly costs compared to ordering food or eating outside.Â
- Part-time Work: Another way to manage living expenses & increase your income is through part-time jobs. These jobs help students to pay their rent and electricity bills or pay for their living costs. Foreign countries provide different types of jobs like bartenders, servers, copyists, type-writers, etc.Â
- Discounts for Students: The most convenient method of managing living expenses is to maximise the use of discounts available for students. To do the same, students should carry a valid student ID that allows them to get the benefits from it.Â
- Focus on Monthly Essentials: To effectively use the money, students should first utilise the money for buying monthly essentials like groceries, vegetables, fruits, etc. Once the essentials are catered, the extra money left can be used for travelling, dining out, etc. For buying vegetables & fruits, students can patronise the local markets over supermarkets. This will help them to save more since the farmer’s market provides fresh produce at a lower price compared to supermarkets.Â
Cost of Living for International Students
The cost of living abroad can be quite expensive for students. This cost varies from country to country & is dependent on multiple factors. For example, in the USA, the average cost of living is 1,57,626 INR per month, while in the UK, it can cost around 1,14,000 INR. In countries like Germany, the average cost of living is €1070 or 95,765 INR per month. In Australia, the cost of living is 94,025 INR per month.
Having an idea about the average cost of living will help students to plan their living budget effectively & to choose a country after considering all the factors
| Country | Average Cost of Living (Per Month) |
|---|---|
| USA | $1,500-2,000 (₹1.3L-1.8L) |
| UK | £1,136-1,483 (₹1.3L-1.7L) |
| Germany | €992-1,300 (₹94,000-1.2L) |
| Australia | AU$ 1,800-2,500 (₹1L-1.5L) |
| Canada | CA$ 1,600-2,200 (₹1L-1.4L) |
| Ireland | €1,200-2,000 (₹1L-1.9L) |
How to Track Monthly Expenses
- Categorise your expenses: Students can categorise their monthly expenditures. This segmentation will allow them to manage their living expenses & to avoid over-expenses. Â
- Use Apps: One of the most effective ways to track living expenses is to use an app. Features provided by the app allow customers to keep track of their living expenses. Apps like Day-to Day Expenses, PocketGuard, etc are some useful apps developed for tracking daily expenses & managing them.Â
- Separate Bank Accounts: Having separate accounts will help students manage living expenses & other expenditures separately. This will help them to manage their living expenses & avoid economic strains effectively.Â
Key Takeaways
Managing finances abroad demands strategic planning and smart budgeting. International students can reduce accommodation costs by 40-60% through shared housing instead of living alone. Germany offers the most affordable option at €992-1,300 (₹94,000-1.24L) monthly with free public university tuition, making it ideal for budget-conscious students.
Public transport passes cost £80-120 in UK cities and €63 in Germany, saving thousands compared to private transport. Cooking at home cuts food expenses by 50-70%, and part-time jobs help students earn ₹40,000-90,000 monthly. Student discounts save 10-30% on expenses, and living in suburban areas reduces costs by 30-40% compared to city centres.
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FAQs
How to manage living expenses abroad?
The first step is to create a budget. Students should also leave room for unforeseen expenses. Stick to your budget, if you have financial strain. Students should also adopt methods that allow them to save better.
How much should an international student budget per month?
International students can plan their budget based on the country that they are living in. Countries like the USA & UK have a high cost of living. However, creating a budget & managing their expenses efficiently will help students to save money & channel their financial resources. The table listed above provides data about the cost of living in different countries.
What are some affordable countries to study for Indian students?
Germany, Malaysia, France, Denmark, Norway, Ireland, etc are some of the most affordable countries for Indian students.
What are monthly costs of living in Manchester vs London?
London costs £1,700-2,000 (₹1.98L-₹2.3L) monthly whereas Manchester requires £1,200-1,640 (₹1.4L-₹1.9L) for student living.
What transport discounts do London students receive?
London students get 30% discounts on Travelcards through the 18+ Student Oyster Card costing £119.90 (₹13,964) monthly.
Can Indian students work part-time during their studies in the UK?
Yes, Indian students can work 20 hours weekly during term and full-time during holidays.
How are UK student visa maintenance funds calculated for the course duration?
UK student visa maintenance requirements are calculated monthly for the course length, capped at nine months maximum.
What is the average monthly cost of living in Netherlands for Indian students?
Students typically spend €800–€1,600 (₹82,832–₹1.6 Lakh) monthly in the Netherlands. Amsterdam costs €1,300–€1,600 (₹1.3–₹1.6 L), while affordable cities like Enschede cost €800–€1,100 (₹82,832–₹1.1 L). Mid-tier cities include Utrecht €1,100–€1,350 (₹1.1–₹1.3 L) and Rotterdam €1,000–€1,300 (₹1–₹1.3 L).
How much does student accommodation cost in Netherlands?
Shared student houses in the Netherlands cost €400–€600 (₹41,416–₹62,124) monthly—the most affordable option. Private studios cost €700–€1,200 (₹72,478–₹1.2 L), while university residences cost €500–€800 (₹51,770–₹82,832). Housing accounts for 40-60% of total living expenses in Netherlands.
What are the monthly food expenses for students living in the Netherlands?
Groceries in the Netherlands average €138 (₹14,288) monthly for home cooking. University canteen meals cost €4–€8 (₹414–₹828), restaurant meals €18–€28 (₹1,864–₹2,899). Key groceries in the Netherlands: rice €2.00 (₹207)/kg, chicken €8.50 (₹880)/kg, milk €1.20 (₹124)/liter.
If you are an aspirant looking to study at your dream university, book an appointment with AdmitX today and start your applications early to avail yourself of all the benefits.
