Answered
How should international students track their spending?
Budget per term instead of per month, track everything in the local currency, and record money from home at the amount that actually arrives after fees. Term-based budgets match how fees, rent and allowances arrive, so it's much easier to see whether the money will last.
Here's a setup that works for your first year abroad.
Free · No ads · 140+ currencies · Android (iOS coming soon)
Balance - Expense Tracker by Clarzen on Google Play
Know your money in and money out
- In: money from family, scholarships, part-time work and loans.
- Fixed out: rent, tuition instalments, phone, transport pass, insurance.
- Flexible out: food, going out, shopping, travel home.
Budget by term, check weekly
Divide your flexible money for the term by the number of weeks. That weekly number is easier to stick to than a monthly one, especially when you're new and prices are unfamiliar.
Costs students forget
- Deposits for accommodation, and their deductions when you move out
- Course materials, printing and lab or field trip fees
- Visa renewals and health insurance
- Flights home at peak times
- Winter clothing and household setup in your first month
Make money from home go further
Bank transfers can lose a surprising amount to exchange margins and fees. Compare the amount that actually arrives across a few services, and receive larger, less frequent transfers if fees are fixed per transfer.
Use student discounts deliberately
Student discounts on transport, software, streaming and food add up, but only if they replace spending rather than encourage more of it. Track them like any other spend.
Doing it with Balance
Set Balance to the currency where you study (it supports 140+). Log what you spend with a quick scan or a couple of taps, add rent and other fixed costs once, and record transfers from home as income at the amount that arrived. Analytics show where the term's money went, category by category.
Frequently asked questions
How much money do international students need per month?
It varies hugely by city and lifestyle. Your university's international office usually publishes a living cost estimate, which is a good starting point. Track your first month to find your real number.
Should I keep a bank account from home?
It often helps for receiving money and paying bills at home, but open a local account too to avoid card fees on everyday spending.
Keep exploring
Track every expense. Ask anything.
Free to download, no ads, no bank login. Get Balance on Google Play and start tracking in minutes.
