Budgeting and Saving Money Abroad
Studying abroad is an exciting experience, but managing your finances wisely is essential. Knowing where to shop, how to avoid unnecessary expenses, and planning ahead can help you make the most of your time abroad without breaking the bank.
Where to Shop for Cheap Groceries
Supermarkets with Affordable Prices:
Mercadona – One of Spain’s most affordable supermarket chains, offering good quality products at reasonable prices.
Lidl – A budget-friendly grocery store with great deals on fresh produce, dairy, and snacks.
Aldi – Another discount supermarket offering low prices on essentials.
Dia – Known for its low-cost private-label products and frequent promotions.
Carrefour Express – Slightly more expensive but has discounts with loyalty cards and bulk deals.
Local Markets for Fresh Produce:
La Boqueria (Touristy but has affordable options if you shop deeper inside the market).
Mercat de Sant Antoni – Popular with locals and often cheaper than supermarket chains.
Mercat de la Concepció – Good for fresh produce and bulk shopping.
Discount Stores for Household Essentials:
Primaprix – Discount store offering cheap international brands.
Clarel – Low-cost cosmetics, cleaning supplies, and hygiene products.
Hidden Costs to Be Aware Of
1. ATM Withdrawal Fees
Many Spanish ATMs charge high withdrawal fees if you use a foreign card.
Avoid Euronet ATMs, which charge high transaction fees.
Use ATMs from CaixaBank, BBVA, or Santander, which may have lower fees depending on your bank.
Consider using a Wise or Revolut card for better exchange rates and lower fees.
2. Currency Exchange Rates
Avoid exchanging money at airport kiosks or tourist areas—they offer poor rates.
Use a credit or debit card that does not charge foreign transaction fees.
Choose to be charged in euros, not your home currency when using a card to avoid dynamic conversion fees.
3. Transportation Costs
Single metro and bus rides add up quickly. A T-usual pass (€20 for unlimited rides for 30 days) is much cheaper in the long run.
Walking or biking can help save money, especially in central areas.
4. Hidden Fees in Restaurants
Many restaurants charge a sitting fee or charge extra for bread or water, even if you didn’t ask for it.
Tipping is not expected in Spain, but some tourist-heavy spots may add a service charge—check before paying.
5. Utility Bills in Apartments
Some landlords do not include electricity, gas, or internet in the rent, so check your lease carefully.
Electricity costs spike during peak hours, so doing laundry or using appliances at night can be cheaper.
6. International Phone Plans
Using an international SIM card can save money compared to roaming fees.
Consider buying a local prepaid SIM from Vodafone, Orange, or Movistar.
Money-Saving Tips for Students
Cook at home instead of eating out daily—groceries are much cheaper than restaurants.
Take advantage of student discounts on transport, museums, and attractions.
Use free Wi-Fi in cafés, libraries, and public areas to save on mobile data.
Shop at local markets instead of big grocery stores for fresh and affordable produce.
Split costs with roommates for essentials like cleaning supplies and household items.
Being mindful of these costs and using smart budgeting strategies will help you make the most of your study abroad experience while keeping expenses low.