How to Save Money as an International Student in the U.S.

Studying abroad in the U.S. is an incredible opportunity, but it often comes with significant financial challenges. Managing a tight study abroad budget while balancing tuition, housing, and daily expenses can be overwhelming.

However, with the right strategies and some life hacks to save money, you can stretch your dollars without compromising your experience. This post will provide different ways to save money as an international student in the U.S.

Set a Realistic Study Abroad Budget

The foundation of financial success lies in creating and sticking to a budget. Start by listing your income sources, such as scholarships, part-time jobs, or financial support from home. Then, outline your expenses, including tuition, rent, groceries, and entertainment. Use budgeting apps like Mint or PocketGuard to track your spending and identify areas where you can cut costs. This simple habit helps you understand where your money is going and keeps you on track.

Cook at Home and Save on Food

Food expenses can add up quickly, but they’re also one of the easiest areas to save money.

• Cook Your Own Means: Preparing meals at home is significantly cheaper than eating out.
• Meal Prep: Planning your meals in advance and cooking in bulk can save you time and money throughout the week.
• Dining Halls and Campus Events: Most universities will provide dining halls which you can sign up to access as part of your tuition payment. Many universities also host free food events for students, so take advantage of these opportunities.

How to Save Money on Housing

Housing is often the largest expense in a student’s budget. Here’s how to save money for international students on accommodation.

• Share Your Living Space: Renting a shared apartment or living with roommates can significantly reduce rent and utility costs.
• Look for Off-Campus Housing: Off-campus options are cheaper than university dorms. Platforms like Craigslist, Facebook Marketplace, and Roomster are great for finding affordable housing.
• Save on Utilities: Simple habits like turning off lights, limiting water usage, and using energy-efficient appliances can lower your bills.

Save Money on Transportation

Though U.S. is notorious for needing a car to get around, universities are usually located in areas with more varied options for transportation.

• Use Public Transportation: Many cities offer discounted transit passes for students, making public transportation an affordable and eco-friendly option.
• Walk or Bike: If your campus and nearby amenities are within walking or biking distances, this is a cost-free and healthy alternative.
• Carpool: For trips that require a car, share rides with friends or classmates to split costs.

Take Advantage of Student Discounts

As a student, you have access to exclusive discounts on everything from software to entertainment.

• Use Your Student ID: Always ask about student discounts before making a purchase. Many businesses, including clothing stores, restaurants, and movie theaters, offer deals for students.
• Explore Discount Platform: Websites like UniDays and Student Beans aggregate deals specifically for students, helping you save money on everyday expenses. More deals are listed here.

How to Earn Money as an International Student

Finding ways to earn extra income can make a significant difference in your study abroad budget.

• On-Campus Jobs: You can legally work as an international student on an F-1 Visa, you can work up to 20 hours per week on campus during the academic year and 40 hours during the official breaks. Look for positions in the library, cafeteria, or research labs.
• Scholarships and Grants: Continuously search for scholarships and grants specifically for international students to reduce your financial burden.

Be Smart with Shopping and Entertainment

Your spending habits play a huge role in saving money as a student.

• Buy Used Textbooks: Textbooks are expensive, so consider buying used copies or renting from platforms like Chegg and Amazon. Some universities also have textbook exchanges.
• Thrift for Necessities: Thrift stores and secondhand platforms like Goodwill, Craigslist, or Facebook Marketplace offer affordable options for clothing, furniture, and electronics.
• Enjoy Free Activities: Many campuses and cities host free or low-cost events, such as movie nights, concerts, and cultural festivals.

Why Health Insurance is Essential for International Students

While saving money is important, ensuring your health and safety should be a top priority. Medical costs in the U.S. are notoriously high, and an unexpected illness or injury could quickly derail your budget. Universities often offer insurance plans that are thousands of dollars. That’s where ISO Student Health Insurance comes in.

At ISO, we offer affordable and comprehensive health insurance plans designed specifically for international students. Having health insurance not only protects you from unexpected medical expenses but also ensures you can access quality healthcare when needed.