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Mentor Advice

Question

What advice can you give students who are on a tight budget?

6 Replies from Mentors

  • mentor picture Rae Rae
     
    Rae Rae
    Senior Year Student
    Loyola Marymount University
    I would recommend that you don’t go to restaurants often or splurge on unnecessary...
    I would recommend that you don’t go to restaurants often or splurge on unnecessary things frequently. Of course you are in the city to experience the culture (and that means food too!) but eating out everyday wastes so much money, and is impractical. I’d say go to the grocery store as much as possible. Also shop around and don’t buy the first thing you see! Especially with souvenir shops, restaurants, clothing, etc...There are many places selling the exact same things for alternate prices so don’t make any hasty decisions. I also made a rule for myself: “Don’t buy anything here that I can get in America cheaper.” Of course you are there to enjoy yourself so have fun, just do it within your means. If you want to travel, check out cheaper sites such as ryainair.com or priceline.com and stay in hostels/budget hotels or with friends and family.
  • mentor picture Irene
     
    Irene
    Junior Year Film Production Major
    Loyola Marymount University
    When you first arrive you are going to want to experience EVERYTHING in your first week abroad....
    When you first arrive you are going to want to experience EVERYTHING in your first week abroad. Remember that you will be spending a lot of time their and try to budget your money accordingly. If you make a budget for yourself and stick to it, you will have less worries about running out of funds.
  • mentor picture Miloni Gandhi
     
    Miloni Gandhi
    Associate Director, International Recruitment, Office of Admissions
    University of Southern California
    If you are on a really tight budget, be vigilant about watching out for sales. There are a lot of...
    If you are on a really tight budget, be vigilant about watching out for sales. There are a lot of sales especially online, you just have to catch them at the right time. Also, local travel agents often sell many packages that come out to be much cheaper than buying things separately. Learning to cook your own meals even when traveling will also save a lot of money as well as help you meet new friends. Also, when in a city, try and avoid taxis but instead walk and take public transportation when possible.
  • mentor picture Additional Mentor
     
    Additional Mentor
    Various students and administrators
    interviewed by the Center for Global Education


    Giana, Student
    This student’s number one concern was money; learn how she was able to save for the trip through fundraising and asking family members for help.
  • mentor picture Kimberly
     
    Kimberly
    Senior Year Student
    Loyola Marymount University
    My advice for those on a tight budget is to be aware of how much you are spending throughout the...
    My advice for those on a tight budget is to be aware of how much you are spending throughout the day. Everyday some of my friends would write in a notebook or excel document what goods they bought and how much they spent on them. This way they were able to keep track of how much money they could allocate towards traveling, shopping, etc. The best advice though is to spend your money wisely. It is okay to splurge once in awhile, especially if it is to travel, but make sure that you have enough for other expenses too. Decide on which expenses are necessary and which are not.
  • mentor picture Janeth
     
    Janeth
    Junior Year Student
    Loyola Marymount University
    Make sure to have a budget that you can stick to. It’s important to prioritize what you want to do...
    Make sure to have a budget that you can stick to. It’s important to prioritize what you want to do so you won’t spend money on anything unnecessary. Another good idea is to remember when you are shopping that you’re going to have to bring it back home and to think whether you really have space for it in your luggage. This may actually help prevent you from buying unnecessary items. Also it may be wise to invest in an International Student Identity Card (ISIC) which can save you money in traveling and expenses. Depending on where you will be studying abroad, it may be helpful.
 
 
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