Building a Budget for Study Abroad
Study Abroad is an investment in your future, but it is a financial undertaking.
With proper preparation, you can plan a great study abroad experience that fits your financial needs. To help you plan, we have created a Study Abroad Financial Planning Worksheet. This fillable form will help you determine your overall program costs and identify possible funding sources to make study abroad work, for you.
There are also many applications available to download onto your mobile device that can aid in budgeting while you are abroad. These can be helpful for those who are on tight budgets or like to keep a close watch on their spending. Here is a short list of some of the recommended apps available for download:
- Trail Wallet - This app allows you to set a budget and keep track of it down to the penny. You can categorize expenses and stay on top of what percent you've already spent. It was created by fellow travel bloggers who have enough experience to know the best way to stay on a budget while globetrotting.
- Trip Boss Expense & Budget - Trip Boss Expense & Budget was truly made for the conscious budget traveler. With Trip Boss you can record and track expenses in 50+ expense categories, with the option to display foreign expenses in your home currency. When it comes to the actual purchase, you're provided with a tip/split calculator and currency converter, and you can even take photos of receipts for use with the included reimbursement functions.
- Mint.com - The Mint.com app allows you to track, budget and manage your money all in one place, so you can see where you're spending and where you can save. Open an account, add your bank, credit, loan and retirement accounts and Mint will automatically pull in and categorize your transactions. Mint creates a customized budget based on your actual spending, and sends bill reminders, alerts and advice right to your device so you can avoid late fees and monitor cash flow. It's safe, secure and easy to keep your personal finances organized.