Studying abroad is a priceless experience in the long run but a very costly one for the immediate future. Souvenir purchasing is a must, the exchange rates are unfavorable and every student has the goal of visiting as many places during the semester as possible. However, despite the expensive uphill battle, some students figured out a way to become worldly without becoming penniless.
Lindsey Horstmann, a junior at Truman State University in Kirksville, Mo., spent her spring 2014 semester at Franklin University in Lugano, Switzerland. She traveled the majority of her weekends to destinations including Budapest, Paris, Amsterdam, Hydra Island, Greece, Bellinzona, Switzerland, Barcelona and others. She felt studying abroad was truly a once in a lifetime opportunity and always planned to take full advantage of every second she had. In fact, most of these trips were planned last minute, yet were still within her budget by using Ryanair or EasyJet for flying and Airbnb and Hostelworld for accommodations. Her strategy for not breaking the bank was to decide on how much money to spend during a weekend of travel and spend only that amount. It was usually around $300, which mainly consisted of airfare and room and board.
The adventure was always top priority for Horstmann; she rarely indulged in material nonessentials. She chose hostels over hotels and trains instead of cabs. She also brought most of her toiletries from home because she knew Europe carried different products and she did not want to waste money on the wrong deodorant, for example, a realization many learned the hard way. However, despite her money saving tactics, she did have to pass on traveling to a couple of desired destinations due to lack of funds.
“I regret it so much,” Lindsey said.
Study abroad students, however, only have to guard their money from foreign enticements for one semester. Curran Ellis, a full-time student and senior at Franklin University, offers insight on minding the temptations of living in Europe. He comes up with a weekly spending budget at the beginning of each semester and does his best to stay under that budget.
“If I am under budget I may feel more willing to splurge in the next week,” Ellis said.
Ellis also admits to unfortunately not going on some weekend trips.
“If money is tight and something isn’t crucial I’ll pass on it and wait until I’m under budget again,” Ellis said. “The deals at the pub also help when I’m over budget.”
Kadime Mbup, owner of The Drinking Hole, a pub frequented mainly by Franklin students, offers deals at least once a week to students. Such deals include two shots for the price of one Tuesdays, contests giving away 50 Swiss Franc (around $52) gift cards and all you can eat Sunday brunches.
“We all know that students’ budgets are very limited, and if you give them a good deal on food and beverage you will have them at your bar always,” Mbup said.
Despite the occasional empty wallet, the experience of studying abroad is ultimately invaluable. Even the walk home from class, a complimentary luxury, is breathtaking. There is a smart and economical way to study abroad; first, start by picking the country with the best exchange rate and the lowest cost of living.
