Residing and studying in Dubai isn’t always the ‘glitz and glamor’ as it seems to be. Students face similar money management problems that we all face but the only difference is that you cannot take a bank loan to help you out of the crisis!
If you thought that you are alone in this, then well, you are not, considering that UAE leads the world in English medium international schools. Here are some tips that would help you focus on your studies and not on the stressful money deficit issues:
Set up your own bank account
Having your personal bank account in the new country that is going to be your “home” for the time being, helps you dodge unnecessary charges by international banks. You can seek advice from a counselor about the benefits offered by different banks to make sure that you pick the best cost-effective alternative which allows you to send and receive money internationally.
Single out social events sensibly
The sudden independence you get when you travel abroad to study, it’s normal for you to want to explore all the endearing things that Dubai offers. You must be careful while picking out events that may require you to spend a lot of money in the long run. If you frequently hang out with friends who are shopaholics or die-hard foodies and you always end up at malls or expensive restaurants, then this might seriously disturb your budget before the end of your educational venture.
Have patience and keep a tap on the events your university holds. Most universities conduct bowling, movie premieres and other events that are cheaper or even free. Don’t hesitate or be ashamed to say no to certain events or suggesting a more pocket-friendly option. People won’t judge you if you explain that you have a budget constraint and cannot spend money invariably!
Make your student status an asset
Your student status makes you eligible for discounts not only on public transport but also at various shops, cinema tickets, restaurants, and some events. But, in order to fully exploit this advantage, you need to arrange for your student card at the beginning of your first semester in Dubai.
The discount on transport would save you massive amounts of money each year. There are websites too which are committed to providing discount vouchers to students, so make sure to browse through them. And sometimes there are special birthday rewards too!
Prepare your daily food at home
Making your own food can save you tons of money. You can’t deny the fact that cooking your own food is way more economical than dining at restaurants or depending on take-outs. Visit a nearby market once a week to replenish your reserve of supplies (fruits, vegetables, milk, etc.) instead of spending your money on eating out every day.
This may help you save at least 30%-50% of your total expenditure on food items and use that money for more crucial elements to enhance your Dubai experience! Being a student, you may not always have the time and energy to come home and cook for yourself after a tiresome day. So, it would be more favorable for you to cook food in large quantities and store them in the refrigerator for reheating. In addition to being budget-friendly, this option is healthier as well!
Take car subscription for half-yearly on annually
As a student, you can’t afford to buy a car right away. You also can’t afford to be late for your classes because of delays or non-conveniens in public transport. The best way out is to subscribe to a monthly car rental service in Dubai. It will give you the benefits of your own car at very economical rates. Plus, if you subscribe for 6 months or a whole year, the prices are further reduced.
Keep up with the latest trends but ‘economically’
Let’s admit it, living in a glamorous city like Dubai isn’t cheap. You can’t just show up at your university in the clothes that you wear at home. You have got to keep up with the latest trends and a reputation to uphold. But being a student, keeping up with the trends does not top our priority list!
Some shops offer a discount upto 15% specifically to students. You can’t afford to make it a habit to shop, but when you shop, make sure that you save some money along the way!
While saving money is important, it is equally important to reward yourself occasionally for all the effort you put in. Spend on yourself every once in a while as a present for studying earnestly. You just have to learn to control your expenses and have an emergency fund to meet future contingencies!