Thinking Ahead

Many study abroad returnees report that they found managing their own expenses more challenging than expected.  To avoid undue stress, students should begin thinking ahead and planning their finances as early as possible in the study abroad process.

Planning Your Budget

Each person's budget is unique, and can vary depending on their available funds, the cost of living in the host country, and their personal spending habits.

When planning a budget, students should remember to include the following items:

• Local transportation

• Books and classroom materials

• Communication costs (e.g. local cell phone SIM cards or service, international roaming charges, etc.)

• Funds to attend cultural events

• Personal items (e.g. toiletries, school supplies, laundry supplies, clothing)

• Meals and snacks

• Emergency medical costs

• Personal travel or excursions

Partner programs usually offer estimated expenses on their website, and Davidson program Resident Directors can help provide estimates as well.  Students should confirm whether the estimates are in U.S. dollars or the local currency.

After calculating necessary expenses, it is wise to add a small cushion to the budget for unplanned needs, if able to do so.

Useful Resources

These are examples of resources that may be helpful as you begin researching and planning for your experience abroad or away.

Please note that the OEAA does not officially endorse any of these items.  These items are provided for informational purposes and using any of them is at the sole discretion of each individual.

 

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• Budget Worksheet »
• Guide for Creating a Study Abroad Budget »
• Numbeo Cost of Living Tool »