Budgeting for students abroad: plan your money with confidence
A simple budgeting method for international students: the costs people forget, planning your first three months, saving tips and receiving money from Nepal.
List every cost, add a 10 to 15 percent buffer, plan the first three months separately, and track spending monthly. Do not rely on part-time work early on.
Costs students often forget
Tuition and rent are only part of the story. Build your budget from every cost, not just the big two.
A simple way to plan your money
- List your income: family support, scholarship and any expected part-time earnings (count these cautiously).
- Estimate monthly costs using your university’s cost-of-living guide for your city.
- Add a buffer of about 10 to 15 percent for price changes and surprises.
- Plan the first three months separately, because setting-up costs are highest then.
- Review every month and adjust before small overspending becomes a big problem.
Budget in both currencies. Exchange rates move. A change in the value of the Nepali rupee can affect how much your family needs to send.
Practical ways to spend less
- Cook with housemates and plan weekly grocery shopping.
- Use student discounts and student transport concessions where available.
- Buy second-hand textbooks or use the library.
- Compare phone plans instead of taking the first offer at the airport.
- Use a budgeting app or a simple spreadsheet to track spending.
Receiving money from Nepal
- Education-related transfers go through banks with your NOC and supporting documents.
- Compare exchange rates and fees between banks and licensed remittance services.
- Keep records of every transfer, which can be useful for future visa applications.
- Never lend your bank account or card to others; it can involve you in fraud.
Thinking about working? Read the rules in our guide to part-time work while studying abroad.
Questions students ask
How much money should I bring when I first arrive?
Enough for your first two to three months of living costs and setting-up expenses, without relying on a job.
What if I run out of money?
Speak to your university’s student support office early. Many offer financial advice, hardship funds or emergency support.
Is it cheaper to live outside the big city?
Rent is often lower, but check transport costs and time to campus before deciding.
Talk to a Shrey Education counsellor.
We can review your documents, course choice and budget before you apply.
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