Financial Tips for Study Abroad

December 08, 2021
Many college students are thinking about or planning for study abroad programs. While these trips are fun, the price that goes along with them is not. We’re here to help. Here are some tips on how to financially prepare for your study abroad trip.


OPEN A SAVINGS ACCOUNT

This is the easiest way to start saving for your trip. By creating a savings account, you can set aside money that will go directly toward your goal. With saving in mind, it will be easy for you to reach your goal quickly and efficiently.


SET A MONTHLY CONTRIBUTION

It can be tough to remember to contribute to your savings account. To make it easier, you can set an automatic monthly or weekly transfer into your savings account. This way you are constantly saving and never need to think about it.


CREATE A TRAVEL BUDGET

Set a predetermined budget of what you know you are comfortable spending on the whole trip. This will help you create a concrete savings plan that will make budgeting easier in the future. To do this accurately, make sure to consider all your possible expenses.


USE STUDENT DISCOUNTS

Many businesses offer discounts to college students. By taking advantage of these offers, you can save a lot of money that may have otherwise been overlooked. The money you saved can go in your savings account and take you one step closer to reaching your goal.  
 
A realistic budget and savings plan will help you prepare yourself financially for a fun and educational study abroad trip. For additional guidance, visit or call us to speak with a Member Service Specialist.