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How can I save money while abroad?

Managing your finance is just as important as managing your studies. Studying overseas means being independent, and with independence comes responsibility in managing your finances. You will have many opportunities to socialise and meet new people, but remember that socialising can strain your finance.

Make good use of social activities at your university that are low-cost or no cost. Participate in campus clubs and organisations and be sure to check you local community or city guides for free and fun events.
In preparation for managing your own finance, start by practicing how to save now! Open a bank account and ask your parents to give you your allowance by depositing money in your account. Then you can start tracking how and where you spend your money, just like you would do in Australia.

Helpful tips on how to save
Below are some simple ways to save money while you’re abroad:

Student discounts. There are so many places that will offer you discounts just for simply being a student! For instance the cinemas, public transportation and some eatery places will give you concession prices as long as you show your Student ID. Ask your Australian friends where you make use of your Student ID card.
Withdrawing money from ATMs. Try not to withdraw money from ATMs other than your own bank because you can be charged up to $5.00 for a withdrawal transaction. If you’re with Commonwealth Bank, you’ll always find a Commonwealth Bank ATM or branch near you.
Buy second-hand textbooks. Always try to buy second hand books before each semester begins because you could save up to 50% of your textbooks costs. Most schools will inform students where you can buy second hand books and some students will advertise their books on the school notice boards. Be sure to check them out.
Buy second-hand furniture. Why buy brand new furniture when you can find good quality second-hand furniture for the fraction of the costs. Check out website such as The Trading Post or ebay.
Review your mobile phone bill. There are so many mobile telecommunication service providers in Australia offering competitive pricing and plans. Make sure you review how much time you spend on your mobile and choose a plan that suits you. Some providers offer ‘free talk’ time, in which you can talk to a friend on the same mobile network for free. You can save hundreds of dollars a year simply by choosing the right plan.
Reducing your transportation costs. If you take public transport, make use of purchasing monthly, half-yearly or yearly tickets to save costs. As a student, you can buy tickets at student concession prices. Make sure you have your student ID on you, in case transport inspectors approach you.
Buying petrol on Tuesday or Wednesday. If you drive in Australia, there are days where you will find petrol prices at its lowest. Whether it’s Tuesday or Wednesday (the day will vary in different states and from time to time) you’ll soon know when there are long queues at the petrol stations. But it’s worth the wait!
Cheap eats. In all major Australian cities, you will find many cheap eatery places to dine. In particular, there are Chinese and Vietnamese restaurants with great food at very affordable prices, so you can eat out without spending too much for a good feed. You can also purchase what is it called an ‘Enterntainment Book,’ which contains many discount vouchers for restaurants and entertainment places. These books can usually be found at your school or work places.
Cheap groceries. It’s always cheaper and healthier to cook your own food at home. Find out where the local market is for fresh produce and it's often cheaper than buying groceries at the supermarket. However, when shopping at the supermarkets, take advantage of their sales and discounts by buying in bulk. This will save you on grocery costs in the long run.
Save on your energy bills. Energy bills can creep up if you’re don’t take notice on your energy usage. Remember to turn off your computer or turn your electrical goods on stand-by when you’re not using them. In winter, you can avoid using a lot of heating by wearing a many layers of clothes and slippers to keep warm. Also look at buying energy-saving light bulbs which uses up to 75% less energy than a regular light bulb and could last up to 10 times longer.