Living in New Zealand doesn’t have to be an expensive affair. As an international student, you can use a few budgeting tips that will help you have a smooth sailing with your finances up until your academic journey. Make a note of the budgeting tips shared below:

1. Draft a budgetary blueprint

Create a document to include all your daily, monthly or yearly expenses. Use this document to make an account of every penny spent by you at any time. The purpose of conducting this action is to help you analyse your cost expenditures better. A budgetary blueprint can also help you analyse where you can cut down on your expenses and how much money you can save every month.

2. Apply for scholarships in New Zealand

Scholarships are a blessing to students, especially when the latter plans to study abroad. The aim of a scholarship is to help support bright minds in various financial aspects. This includes covering a part of the tuition fees, and catering to the other related expenses such as room costs, travel costs, or equivalent.

New Zealand offers a broader range of scholarship options irrespective of the degree program chosen. Ensure you choose the right scholarship program and submit the application before the deadline to increase your chances of a scholarship approval.

3. Apply for a part-time job in New Zealand

Another great way to manage your finances in New Zealand is to apply for a part-time job. Universities in New Zealand cater to students for only half a day. Thus, you can use the other half of the day to earn additional income. The country allows international students to work up to 20 hours a week. There are various part-time jobs you can apply for, such as waiter, sales assistant, lab assistant and many more. On average, based on your job role, you can earn up to NZD 20/hour – NZD 22/hour.

4. Make use of student discounts

The country also offers other mediums to support international students. This takes place in the form of student discounts. As an overseas student, you can use the student discount to conduct multiple actions, such as travel via local transportation, get deals on restaurants, and many more. A few examples of student discounts available in New Zealand are StudentCard, ISIC Card, Unidays, Academy Cinemas, Hop Card, etc. To claim your discount, ensure you show your student ID.

5. Go local

Going local is another great way to manage your finances in New Zealand. This means making use of the local offerings to conduct your daily activities. This includes grocery shopping locally, purchasing essentials at thrift shops, travelling in public transportation, making homemade meals more often, etc.

6. Invest in an affordable accommodation option (roommate, share space/bills)

One portion of your money will go into catering to your accommodation rent. There are various accommodation options to choose from in New Zealand, such as on-campus housing (halls of residence) or off-campus housing (studio apartments, homestays, private apartment rooms).

We suggest that when you arrive in New Zealand, opt for on-campus housing, as it is a cost-effective housing option. You will stay on-campus and build friendships with a diverse student community. Apart from this, you can also benefit from aligning your costs better in the first year of university. However, if you prefer to stay off-campus, opt for a sharing accommodation option as it proves to be cheaper.

7. Save a small amount of money every month

As you earn additional income from your part-time jobs, ensure you also keep a small portion of your money aside from your savings. Living in a new country has its own set of challenges. Based on the situation (sickness, doctor visits), you may require money instantly to cater to your situation. In such cases, the money you manage to save will help you.

8. Think practical when splurging

As a student, when you have money, the normal idea is to splurge it. This is a common trait that most students have, especially international students since they now have the opportunity to explore the best places in New Zealand. While this is great to do occasionally, ensure that this isn’t a regular practice.

Before you consider your next spend, pause for a minute and ask yourself the following questions:

• Should I conduct this purchase?
• Will I have enough money to sustain till my next pay?
• Will this purchase benefit me in any way?

Remember, as a student, you will have multiple other essential costs that require your attention. Thus, ensure you are more attentive when making any purchases.

9. Make use of health insurance

Catering to medical expenses abroad is a costly affair. However, you can access it for cheap by pursuing student health insurance when arriving in New Zealand. Getting adjusted to the new weather conditions in New Zealand will take time. You will fall sick and must cater to your medical conditions accordingly. Thus, health insurance allows you to cater to such essential costs appropriately.

10. Monitor your expenses regularly

Lastly, continue to monitor your financial expenses regularly. Keep track of every penny spent so that you are aware of where your money is going. As explained above, you can avoid getting ‘broke’ at the month’s end by managing your finances smartly.