Managing student finance and surviving on student budgets in a foreign country can be a tricky thing. Especially for those students who are staying away from home and studying abroad for the first time in their life. Meeting the day-to-day living costs (rent, water and electricity bills, groceries, commutation and travelling expenses) and taking care of additional expenses (restaurants, night outs, shopping and travelling) can lead to financial pressure and anxiety.
It is therefore essential to take student budgeting and financing seriously to make the most of student life at university and studying abroad a memorable experience. Student expenses can be primarily divided into two categories: Tuition Fee and Living Costs. While the average tuition fee at Irish universities is between €10,000 - €20,000, the average living costs are about €11,000 per year. Planning your income and expenses to maintain healthy spending habits is necessary for long-term financial well-being.
Provided below are some useful tips to help you survive on a student budget while studying in Ireland. To learn more about funding higher education in Ireland and applying to the study at Irish universities in 2020-2021, arrange a free consultation with SI-Ireland today.
Student Finance Advice for Indian students in Ireland
Scholarships and Funding
The best way to fund your college education and finance your tuition fee is to avail scholarships. Scholarships offered at Irish universities can range between €5,000 - €10,000 on an average. In some cases scholarships cover the complete tuition fee for a course. Other ways to fund tuition fee include applying for student loans, grants and bursaries.
Managing your living expenses however can be a daunting task. The tips below can come in handy to balance your personal expenses and attain financial independence as a student in Ireland.
Top 3 student survival tips in Ireland
1. Internship and part-time jobs
The easiest way to make some more money while studying is to work part-time. There are several other advantages to working part-time basis: apart from adding to your bank balance, it adds value to your CV and helps you gain some practical work experience. Paid internships are a great way to connect with potential employers and improves your chances of finding a job after graduation. Ireland offers plenty of opportunities to work with world’s leading multinationals in different industrial sectors.
2. Student Discounts
Student discount cards are the most desirable for every student working hard to manage living expenses. Such cards offer special discounts to students on a whole array of things including public transport, cinema halls, restaurants, music venues and shopping malls. Students should plan their expenses carefully and use these cards as much as possible. For instance the Student Leap travel card helps to get good discounts on public transport within and outside Dublin.
3. Prepare a periodic budget and avoid wastage
Budgeting and keeping a track of all your expenses goes a long way in maintaining clarity and avoiding unnecessary spending. Start with preparing a weekly or monthly budget by planning all your expenses for a week or a month and allocating the funds accordingly. Also track all the wastages that you make and try to minimise on them to save limited funds and avoid unnecessary spending.
Study in Ireland
Studying in Ireland is a great way to get a globally recognised degree at low cost. Book a free consultation with SI-Ireland and connect with experienced education counsellors to start your application process today.