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Budgeting tips for Life of International Student

Budgeting hack for international students

Budgeting is a critical aspect of the life of International Student, especially for students from Pakistan. First, a student needs to find out what are the best countries to study abroadStudying abroad can be a dream come true, but it can also be expensive, and students need to be prepared to manage their finances effectively. From tuition fees to housing and food expenses, there are many costs that international students must contend with. In this blog post, we will discuss various budget hacks and cost-saving tips that can help students make the most of their finances while studying abroad.

According to a recent survey, 60% of college students in the United States reported that they didn’t have a budget, and as a result, they often overspent and struggled with debt. This same situation can apply to international students from Pakistan as well. By creating a budget plan, students can stay on top of their expenses and avoid financial stress.

Common Expenses for Students

Students face a range of expenses while studying abroad, including tuition fees, housing, food, transportation, and more. The cost of tuition fees is often one of the biggest expenses, with some universities charging high fees for international students, while some countries also offer free tuition fees. So, students can also look for free education in countries. Housing is another significant expense, with students having to pay for rent, utilities, and other associated costs. Food expenses can also be substantial, particularly for students who opt for a meal plan or eat out regularly.

In addition to these common expenses, students may also face expenses that are specific to their country, such as visa fees, transportation costs to and from their home country, and medical insurance students need to be aware of all of these costs and plan accordingly.

Creating a Budget Plan

Creating a budget plan is a critical step for students, as it helps them to understand their expenses and plan their finances effectively. To create a budget plan, students should start by setting financial goals, such as how much they want to save each month or how much they want to spend on specific expenses. Once they have set their goals, they should track their expenses, including all income and spending, to see where their money is going.

Next, students should determine what expenses they can cut or reduce, such as eating out less, taking public transportation instead of a taxi, or cutting back on entertainment expenses. They can also look for ways to increase their income, such as working part-time or taking on freelance work.

To help them stay on track, students can use a budgeting app or spreadsheet to track their expenses and keep track of their progress. It’s also a good idea to review their budget regularly, such as once a month, to make sure they are sticking to their goals and making adjustments as needed.

Cost-Saving Tips

Students can take advantage of various cost-saving tips to help them make the most of their finances while studying abroad. Here are a few budget hacks to consider:

  • Buy used books instead of new ones: Buying used books can be a cost-effective way to save money on course materials. Many students sell their books at the end of the semester, making it easy to find used books at a fraction of the cost.
  • Cook meals at home: Eating out can be expensive, especially for international students. Cooking meals at home is a cost-effective way to save money on food expenses.
  • Take advantage of student discounts: Many businesses offer student discounts on everything from transportation to entertainment. International students should take advantage of these discounts to save money.
  • Carpool or use public transportation: Driving can be expensive, especially when you consider the cost of fuel and parking. International students can save money by carpooling or using public transportation instead.

Managing Money

One of the key components of a successful budget is effective money management. Here are some tips for students to help them manage their money more effectively:

  • Set up a savings account: This is a great way to set aside money for future expenses and to have a safety net in case of emergencies.
  • Use a budgeting app: Budgeting apps can help you keep track of your spending and see where your money is going. Some popular budgeting apps include Mint, PocketGuard, and YNAB.
  • Avoid impulse purchases: It’s easy to fall into the trap of impulsive spending, especially when you’re surrounded by tempting items in stores or online. To avoid impulse purchases, make a list of what you need before shopping and stick to it.
  • Set financial goals: Setting financial goals, such as paying off debt or saving for a trip, can help you stay motivated and focused on your budget.
  • Track your expenses: Keeping track of your expenses is an essential part of budgeting. Write down every purchase you make, no matter how small, so you can see where your money is going.

Navigating Financial Aid and Scholarships

Students can also take advantage of various financial aid and scholarship opportunities to help make their studies more affordable. Here are some tips for navigating these opportunities:

  • Research funding options: There are many different types of financial aid and scholarships available for international students. Do your research to find out what’s available and which options are best for you.
  • Apply for grants: Some organizations offer grants specifically for international students. Look for these opportunities and apply for as many as you can.
  • Seek help from financial advisors: Financial advisors can help you navigate the complex world of financial aid and scholarships and provide you with personalized advice and guidance.

Scholarship Options Available for Pakistani Students to Study Abroad

Scholarship opportunities for Pakistani students are available in different countries across the globe. These scholarship programs are designed to provide financial assistance to deserving students who are unable to pay for their education. In this section, we will discuss some of the scholarship opportunities available for Pakistani students in different countries.


The Fulbright Scholarship Program is a flagship scholarship program that provides opportunities for international students to study in the United States. This program provides funding for tuition fees, textbooks, airfare, living stipends, and health insurance. Approximately 1,800 Fulbright scholarships are awarded each year to foreign students who wish to pursue a Master’s or PhD degree in the United States.


DAAD Scholarships are one of the largest fully funded scholarships available for international students who wish to study in Germany. This scholarship is awarded to students who want to complete a full-time course of study with mandatory attendance in Germany. The scholarship provides a monthly stipend to cover living expenses during the student’s studies. To apply for this scholarship, the applicant should have completed their Bachelor’s degree within the last 6 years and have at least two years of proven work experience.


Erasmus scholarship is a program offered by the European Commission that supports international students with Master’s or PhD programs to study in Europe. This program provides grants towards living costs when participating in an exchange program to study in Europe.


The Canadian Commonwealth Scholarship Program provides scholarship opportunities for international students from Commonwealth countries, including Pakistan, to study in Canada. This scholarship is awarded to students who wish to pursue Master’s or PhD degrees in Canada. The scholarship covers tuition fees, airfare, living expenses, and other related expenses.

In conclusion, these scholarship programs provide financial assistance to deserving students who wish to pursue higher education. It is important for students to research and apply for these scholarships to take advantage of these opportunities.


In conclusion, budgeting and effective money management are essential for students from Pakistan. By following these tips and tricks, you can save money and make your studies more affordable and manageable. Don’t be afraid to seek help from financial advisors or through career counselling, as these can be invaluable in helping you achieve your financial goals. Good luck and happy budgeting!

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