Budget Living in Major US Cities for International Students

Life in the USA is both fast-paced and high-quality. It is easy to get ahead of your budget enjoying a decent life. And it must be exciting too! Living in a foreign land all by yourself. Up until you find yourself sitting holding looonnng bills with skyrocketing expenses overdue. But, hey, let us clear those grey clouds and help you live a happy fun-filled life in the US while maintaining a budget.

The budgeting challenges faced by international students are often multifaceted. A number of factors affecting the monthly slightly sum to a significant difference. On top of that, unexpected expenses and curry fluctuation don’t make life any easier. To think of it, the majority of expenses are led by rent, transportation, healthcare, food and academic supplies. And these expenses are indispensable, ain’t they? Well, yes and no. But let’s understand how much money we are talking about before we attempt to save it.

Cost of living for international students in the US

Arguably, your parents, guardians or sponsors pay off your tuition fees on your behalf. Taking the education cost out of the equation, we are left with a cost of living solely driven by your choice of location, lifestyle and individual needs. Notably, saving daily is the key. However, there are some expenses one cannot simply compromise on. For instance, mandatory health insurance billed annually at $500 to $1,500 or the monthly phone and internet bills of $80 to $150 and $30 to $60. While students cannot entirely avoid paying for the other essentials, they can save a lot of them by making wiser choices.

There are several student accommodation options in the US. On-campus dormitories cost between $5,000 to $10,000 per year. At the same time, off-campus apartments can come with a monthly rent of $500 to $2,000. Food and groceries are around $150 to $300 every month and can vary depending on if you cook at home or eat out. Transportation expenses could sum up to $30 to $100 per month. If you plan on driving, bank on the expense of gas and maintenance along with the one-time payments made for purchasing, licensing and insurance. Other monthly expenses are books and academic supplies ($500 to $1,000), shopping expenses ($100 to $300) and an emergency fund of $100.

And these, precisely, are what we will help you save on.

Saving Rent

The best way to save on rent is to opt for on-campus accommodation facilities. Universities offer dormitories and private apartments at a very reasonable rate. Not only are they budget-friendly but they also often include food, electricity and utility bills. Staying on campus, students can benefit from the university’s sports and entertainment centres, library and groups; or network with fellow students. The expense could easily become an investment with strong connections with like-minded individuals from all around the globe. These networks would later fruit in global ties and endorsement. Regardless, staying on campus contributes to the elevation of students’ overall experience. Further, living on campus would completely relinquish the need for daily transportation.

But let’s say you are inclined to live off-campus. Students can save bills by early booking, flat sharing or choosing homestays. Usually, universities have resources on accommodation listed on their website, bulletin boards and forums by fellow students and agents. Alternatively, students can find flats on Amber, SpareRoom and Sanctuary Students. Other reliable sources are Rightmove, Casita and Accommodation. Similarly, Roommates list potential roommates. Before renting out any property found only or referred, ask for a student discount. Go through the lease carefully with a lawyer or consult with your study consultant. Do get a renter’s insurance too.

Utilising High-interest Savings Accounts

Students must open a bank account the first thing when reaching the UK to manage their finances. Since they will not be solely responsible for working the cash flow, it is time that they learn the different types of bank accounts. Opening a savings account is the best for students because of its positive interest rate. Banks like Ally Banks and Synchrony Bank provide a rate greater than 2%. Visit a bank, understand the charges applicable and make a choice after consulting with your parents.

Ask for Student Discounts

International students get discounts almost everywhere. From transportation to restaurants to bookstores and museums, there are so many places where students get discounts. Further, students can opt for a student credit card to gain reward points on academic and experience shopping. These have some fascinating rewards and cashback. Little tip? Get cards wherever you can. Shopping mall, arcade game station, gas station. It costs the same but pays back. Keep an eye out for discounts and other benefits. It would never hurt to ask but it definitely will when looking at your budget and spending sheet.

Buy Used Textbooks

You will be surprised how so less people do this! Buying used books after use is one of the greatest life hacks. A survey indicates that students spend a rough amount of $285 every year buying books and other study materials. Now imagine getting the same books at as much as half the cost. Oh, oh, that’s not it. Imagine re-selling those books after your semester at 20%-50%. If you are a scholar who keeps his book tidy, you can get the best rates possible. In either case, buying and reselling used books can cut down your expenses to $0-$85 only. Every year.

Some sites to refer to other than Amazon and eBay are Chegg, Archive, Bookboon, OpenEd and Bookshare. Exclusively, BioRxiv is for Biology resources only. Alternatively, students can also rent books or study with Ebooks and PDFs found on VitalSource or Google Books. Or better, get books, academic journals and other resources from the school library itself!

Brew Your Coffee

Well, that’s a start. Save money on food and beverages. While walking around the campus with a Starbucks coffee cup is impressive, it fades away quickly. The attraction and the money. And you will be surprised to know how unnoticeably unimportant it is. Start brewing your own coffee and have it in peace calmly before you start your day. Take this time to reflect on your thoughts and mentally plan your entire day. If you are in a coffee person, you may consider investing in a coffee maker. Your $60 coffee maker can fill you a cup any time of the day than that £4.15 a day cappuccino. You can cover the cost in 15 days! It is simple math. Well, a bit of effort-needed math but you’ll catch the wind when your wallet starts feeling heavier.

Utilise Campus Amenities

It wouldn’t be much Indian of you if you shy away from using things you paid for. Make use of campus amenities like computer labs, printing rooms, study rooms and others. Universities also have gym and fitness centres, sports centres and other rejuvenation activities. Live your life till you can, child. You are gonna have to pay with money and time out of your pocket for these things later after college. While you’re at it, attend the free workshops, seminars and guest lectures hosted in and by the university. When presented with opportunities, take them. From research to volunteering to gaining extra credits – it would all help you build your CV.

Got your notes ready?

It is going to be amazing! With time, you will learn to embrace the bustling cities of the US and cherish every aspect of it. It is where every penny counts for every experience will be priceless. Get in touch with our education experts at Studywise International and start your journey. Connect with Studywise International today!