5 tips to give your child on how to save money while studying abroad

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Explore all the places student discounts can be used

With sky-rocketing tuition fees, it is important for students to find ways to save their money. Student discounts are provided almost everywhere from buying books to eating at a restaurant. It is important for students to identify all places that provide student discounts and reap its full benefits.

Look at low-cost living options

Most universities provide accommodation on campus. Students can choose to live there to save up on money. Moreover, if not campus, they can stay in shared  apartments in order to save money on rent and split the bills thereby reducing their monthly cost.

Let them explore options of part-time jobs. 

Most of the countries allow students to take up part-time jobs. This not only allows them to earn money but also brings in a sense of responsibility. Since the part times working hours are limited to a certain number of hours (for eg: 20 hours/week) it doesn’t take a toll on studies.

Teach them some cooking skills to save money on dining out

Learning a skill always comes in handy. Even with discounts, students end up spending a good chunk of their money on eating out. Hence, learning how to cook will allow them to save up on this money. Not to forget, the health benefits of home-cooked food is not hidden from anyone.

Give them a fixed budget to work with

From the beginning, set a budget with your child. If they overspend one time, they will have to adjust it in the next. This allows them to save money which also teaches them important life skills.