Budget For Your Year Out Abroad

Opting to spend a year abroad is a real testament to somebody’s courage to venture outside of their comfort zone and discover more about the world. The important thing to remember is that the rules of the game don’t change when you go overseas with regards to preparation. 

One of the biggest headaches people face when moving to a new country is budgeting. Being able to plan your finances prudently will help you side-step avoidable expenses as well as allowing you to make the most of your time abroad. Below are some top tips from the Money Matters team at Sainsbury’s Bank on pricing up your year abroad.

1.    Check to see if you are eligible for a Student Finance grant, which helps you save money on travel costs, medical insurance and visas.
2.    Find a way to generate side income. Being able to speak English is a prerequisite for many well-paid jobs overseas, which means that English-teaching is a role in high demand. Obtaining a TEFL certificate before you leave could help you secure a teaching job that will allow you to keep on top of your bills. 
3.    Make friends with the locals. Getting useful inside information on where’s best to eat and drink, as well as the easiest ways to get around the city, will help you save a lot of money in the long run.

Interested in finding out more useful information? Check out the full guide from Sainsbury’s Bank for more hints and tips on budgeting for your year abroad.

A Guide By: Alex Smith at Sainsbury's Bank

A Bit About Our Contributor: Sainsbury's Bank Opened in 1997, our range of financial products includes credit cards, savings and loans, as well as travel money, mortgages, and car, home, pet, travel and life insurance. Loyalty is very important to us so we offer Sainsbury’s shoppers great deals and rewards for choosing to shop and bank with us