"How to Manage Your Money from the Day You Leave Your Country"

Studying abroad is not just about getting a visa, booking a flight, or printing a new passport. It’s the start of an entirely new life. A foreign language, foreign environment, foreign laws — and yes, foreign currency. Everything works differently. A student who lived comfortably in Uzbekistan with 3 million soums a month may suddenly realize that even 500 euros aren’t enough in Italy. That’s when many students experience financial stress. “Where did all my money go?” “Why is it not enough?” “I feel uncomfortable asking my parents again…”

I want to tell you: from day one, you must learn to manage your money. It’s not scary. It just takes some thought and structure. Most students travel abroad using only their Uzbek bank card — and that’s a mistake. Each payment loses value in currency conversion. That’s why one of your first tasks should be to open a local bank account. Every country has student-friendly options — like PostePay in Italy, KEB Hana in Korea, or CIMB in Malaysia. Services like Wise or Revolut are also excellent for managing multiple currencies in one app.

Then comes the currency exchange issue. Stay away from airport exchange booths. The rates may look good, but they often hide commissions. Only exchange what you truly need and do it in approved, safe places. In some cities, open-market rates are better than banks.

As for money transfers, try to avoid outdated services. While Western Union or Zolotaya Korona still work, they’re slower and costlier. Modern alternatives like Wise, PaySend, or even crypto transfers are quicker, cheaper, and more convenient.

Another reality: students often overspend in their first months. The mindset of “enjoying life” takes over. Yes, enjoy life — but pay your rent first. Set personal rules. For example, allocate 70% for living expenses, 20% for savings, and 10% for small rewards. And don’t forget to track your expenses. Apps like Wallet or Monefy can make this much easier.

Now let’s talk about work. In most countries, students are allowed to work up to 20 hours a week. But working while studying can be tiring. So don’t just chase money — care for your health and academic progress. On-campus jobs, cafés, or online freelancing might be more balanced options.

Finally, remember: living abroad takes skill. Saving money doesn’t mean living poorly — it means living smart. Your student years are the best school for financial independence. Each payment, each monthly budget is shaping how you’ll make big decisions in life later on.

You’re starting a new life in a new currency. Don’t let money control you — take control of it.