The student exchange experience can be incredible for several reasons. In addition to the opportunity of opening the student´s horizons, it can be very useful to teach them to control their finances.
Most of the time, students do not have enough income for a life without financial concerns. When we deal with an exchange program, the exchange rate variation can make our currency stronger or weaker, making financial control even more necessary.
However, do not see this as a problem, but as an opportunity for growth. Today, control and planning skills are increasingly needed in both personal and career life. This is an incredible opportunity to learn in practice. Here are some tips:
Know your monthly expenses. This is the most valuable tip for any financial planning – put on paper all that is surely necessary to spend every month, like grocery shopping, utility bills, rent and installments, for example. This helps you get a complete picture of your financial universe. Currently, there are several smartphone apps that help with this process and are worth checking out.
Cut out the superfluous. Once your financial life map is open, try to identify unnecessary expenses, which often add nothing in your life, such as a digital signature, or the monthly membership fee of a club you have not used for a long time. This is the time to assess their importance and rethink them.
Save for the trip. With the trip confirmed, start saving for eventualities or just to plan your accounts and expenses. This is very important in exchange programs in places with currencies stronger than the Brazilian Real.
Search for employment opportunities at universities. Many colleges offer campus jobs for students. In these cases, the work schedule is very flexible and can be adapted to your schedule. This can be a very interesting source of extra money.
The financial support departments can help you. Some universities also offer aid departments for the student’s financial life. They help you find viable economic options within your everyday college life.
Take these tips seriously when planning your exchange program – they can be important to make your experience even more interesting.
