Why Money Becomes a Major Stress Factor
When students move abroad, they expect independence and new experiences-but financial pressure often appears much sooner than homesickness. Renting a room, buying food, paying for transport and study materials-all of these costs may be higher than expected. In international research on student mobility, over 40% of foreign students reported financial difficulties during their first academic year (Frontiers in Psychology, 2021- open-access).
What Causes Financial Difficulties?
- Higher cost of living-groceries, rent, transport vary by country
- Unexpected expenses-medical care, visas, books, deposits
- Limited work opportunities– part-time job restrictions for international students
- Currency differences-savings from home lose value in another economy
- Lack of budgeting experience-money management is often a new skill
Signs That You’re Struggling Financially
| Sign | What It Looks Like |
|---|---|
| Avoiding social events | Saying “no” because you cannot afford it |
| Food insecurity | Skipping meals or choosing only the cheapest items |
| Stress about bills | Fear of checking your bank balance |
| Impulse spending | Buying small items to reduce anxiety, then feeling worse |
How to Manage Money Abroad If You Have Financial Difficulties: Practical Tips
- Create a Monthly Budget Plan
Divide income into categories: rent, food, transport, study costs, emergency savings.
→ Recommended method: 50-30-20 rule
- 50% — needs
- 30% — wants
- 20% — savings or emergencies
2. Track Every Expense
Use free apps like Money Manager, Mint, or a simple Google Sheet. Small daily purchases often “eat” the biggest part of a budget.
3. Avoid Emotional Spending
Stress shopping feels helpful for 5 minutes, but often creates guilt. Replace it with free activities: walk, podcast, gym class, library.
4. Build a Safety Net
Even €20–30 saved per month creates security. A small buffer reduces anxiety about surprises.
5. Ask for Help When Needed
Universities, embassies, or local community centers sometimes offer financial counseling or support. Asking for help is not shameful — it is strategic.
Financial difficulties and budgeting abroad are not problems only “for some people”-almost every international student meets them. Budgeting is a skill, not a talent, and it can be learned step by step. With awareness, routine, and support, financial stress becomes manageable-and life abroad becomes lighter. More about life abroad you can read here
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