The actual realization of the price of money happens when you step out of your home and start managing your expenses on your own. This is when you understand that saving money is more important than spending it on pleasurable things. It is very important to monitor your expenses on a daily basis so that you don't get off track with your budget. Here are some ways which will help you in adhering to your budget.
The first step is to buy foreign currency from your home country only and not get it exchanged once you land in another country. This will save a lot of your money as getting your currency changed in a foreign land is much more expensive.
Make sure that you carry a foreign exchange card with you. It is almost like an ATM card that you can use anywhere. This will also prevent you from losing out on cash.
Get yourself a new bank account in the country that you will study in. Make sure that you register yourself as an international student because that way you will get a lot of rebates.
Make sure that you are aware of the money transfer rates and charges that each bank applies. Select carefully the one that is charging the least amount of money and at the same time is a secure option.
