Make a budget before you leave. Then really try to stick to it.
Study abroad can be expensive. And if you travel a lot, it can be really expensive. Here’s a simple plan for making sure you’re ready.
- Figure out how much money you have. That sounds simple, but it’s harder than it seems. For example, you may not be able to work abroad, whether because of legal, time, or other restrictions, so how much money can you save beforehand?
- Think carefully about what you plan to do while you’re away. How much do you plan to travel? How do you plan to get there? Where do you plan to stay? Are you comfortable staying in hostels? You get the idea. Also consider everyday expenses, like food, toiletries, etc.—they can add up very quickly when you’re not used to your environment.
- Be realistic. You’re going to be very tempted to spend lots of money during your first few weeks abroad—you may make new friends and want to go out a lot, especially at the beginning. If possible, allow for “splurges” (especially souvenirs!) when you consider your budget.
- Try to break down your budget by week or month, then make a solemn vow—or at least a quick promise to yourself—that you’ll stick to it. One way to make sure you do is to keep track of how you spend your money once you get there. It can be easy to forget where it all goes, but if you write it down, you’ll find places here and there where you may be able to save. Good luck!
(content from http://www.nyu.edu/studyabroad/prague/preparing.html)