Tips for Cheap Travel While Studying Abroad

Everyone loves to study abroad and travel, but it can be hard to do when you have to stick to a budget. You don't need to sacrifice one for the other, though. It's still possible to study abroad without blowing your budget. Here are some helpful tips to make sure that you don't spend more money than you planned on:

1. Learn the conversion rates. Your money isn't worth the same as everyone's so this is really important in figuring out just how much you should set your budget for. For example, if you're an American heading to Mexico, the dollar is worth more there, but in Britain the dollar is worth significantly less, and that will be extremely important to what you can and can't afford to do. You can find a good conversion website here.

2. Come up with a rough budget schedule ahead of time. Once you've decided how much money you have to work with, decide what you can use them for. I would suggest making and printing a chart. If you anticipate having certain steady bills, add them to the chart and make sure you've got enough to pay those. Then divide up whatever is left for food, clothes, necessities, and then a certain amount for you to spend on whatever you want.

3. Compare rates. You'll have to get abroad some way, so if you want to have the most money to spend while you're studying abroad, try to find the lowest rate you can to get where you're going. Long stop overs might not sound so appealing to a traveler, but it can save hundreds of dollars if you're willing to wait it out, which means that you're saving in the long run.

4. Weigh your lodging options. Hostels are definitely the way to go. They're the most popular method of lodging and they're generally quite affordable. Here is a great site for a list of hostels. Also, keep in mind that you don't necessarily need a 5 star hotel. It's understandable to not want to stay in a slum, but if you're on a budget then it might also be unreasonable to seek out a 5 star resort, too. Remember, you have to work with the money you have available.

5. Learn to do without. If you're working on a budget, you might not be able to afford all the luxuries you want. Try to pick and choose accordingly. If you've got a whole list of things you want, don't decide you can't get any, but don't go to the other extreme and blow a large portion of your budget on things you don't necessarily need, either. Find a happy medium. If there are some things that you want, but can do without, and others that you definitely want and don't want to compromise about, then cut out what can wait and buy what you feel you definitely want. If it's something you're not really going to use or going to use briefly and then set aside, then it's not worth using your budget on (I'm not referring to momentos or gifts to bring back to the family here, either).

6. Try to limit how often you eat out. Eating out can be a wonderful experience and it really allows you to delve into the cuisine and culture of where you're staying, but bear in mind that it can become rather expensive if done too often, too. Try to dine out in moderation. Buying food from the store generally ends up being a lot cheaper and budget-friendly, but don't think that doesn't mean you can't eat out. A good idea is to write set dates on your calendar where you dine out so that you have something to look forward to.

7. Don't go crazy with souvenirs. Souvenirs are wonderful reminders of your times abroad, but keep in mind that most souvenirs are never used or eventually get lost or forgotten, so save only a small portion of your budget for that. I know that at the time it seems like you'll always appreciate all the souvenirs you get, but maybe try to prioritize them. Decide on spending only a certain amount of souvenirs at each place you go and try not to go over that amount (and make it a reasonable amount, too, not too high, but not too low). If you're going to a good amount of places, maybe put a $15 limit per place (or decide you want a higher limit at one place, but you don't want to spend anything at another, or whatever) so that this way you're dividing up your souvenir portion of the budget and not spending too much.

8. Decide ahead what places you want to visit. It costs money, usually, to go to tourist attractions, even if it's just paying to actually get there. Take this into account when you're working with your budget. Go online and research how much travel fares are, or even admission fares where applicable, and decide ahead of time on what places you absolutely need to go to and cut out the ones that you maybe can't quite afford at this time.

9. Under-estimate your budget. It's better to shoot lower than higher when you're drafting your budget. Make sure that you keep a spare amount of money around just in case you get into a bind and accidentally go over your budget. It's always good to have some amount of cash to fall back on just in case.

10. Make copies of all important documents. It's very easy to lose things, especially with all the chaos of traveling abroad, so making copies of them can save lots of hassles. Not all places will accept these copies, but many will in the case of losing one of these important documents until you can find them again.