Money. A big factor of the study abroad experience. Studying abroad and all the academic, career, and personal development that comes with it is rewarding, but can also be pricey. It’s smart to have an idea of your expenses and how you plan on spending your money throughout your time in Scandinavia.
Want to be savvy with savings? Read on to learn from former students themselves, who offer guidance on making the most of living abroad while being mindful of expenses.
Adriana (she/her), Colby College, DIS Copenhagen
Budget, budget, budget
It might be boring advice, but budgeting before and during your semester abroad is hugely important for keeping your finances on track. Whether you make a detailed spreadsheet or download a budgeting app, there are plenty of ways to keep a record of your spending. Adriana details her recipe for saving success.
“Making a budget doesn’t just mean buying cheaper stuff, it means knowing how much you have and using that to organize how much you want to spend every day/week/month/semester. That way, you can happily splurge at the end of the month knowing that a more reasonable you has already planned in the money.”
Adriana recommends capitalizing on student discounts, using food apps like Too Good To Go and seeking out free or low-cost activities. Keep your eye out for “young person discounts” in the city as well, as students and individuals under twenty-five often qualify for special deals.
Read Adriana’s budgeting insights
June (she/her), Pomona College, DIS Copenhagen
Hunt for scholarships
June acknowledges the financial commitment of studying abroad. Seeking out scholarships to mitigate these expenses is one solution to this. DIS offers our own need-based, diversity, and merit scholarships for students, and you can apply for them at any stage of the DIS application process, even before you have submitted your application itself. It may also be possible to use financial aid that normally applies to your home university towards your semester at DIS.
Aside from scholarships, June emphasizes the utility of saving money before going abroad. Knowing your spending habits and anticipating expenses abroad will inform your saving strategy beforehand.
“Even outside of tuition fees, costs of studying abroad definitely add up after food, activities, travel, and a lot of other unexpected costs throughout the semester. So number one tip would be to save up before you go to have money for these things.”
Read June’s advice on saving and seeking financial support
Learn about DIS scholarships
Julia (she/her), Bryn Mawr College, DIS Stockholm
Be thrifty with your resources
Students often tell us two of the most important resources during their time abroad are food and time, though as Julia notes, one is a bit more existential than the other. In her blog, she details her trials of budgeting with both these precious assets in mind, providing recommendations for food spending habits and balancing work and play.
“I’ve become much better at saving on food over the course of the month I’ve been here, in order to use that money elsewhere. But by no means have I starved — quite the opposite! In accordance with my newfound budget restrictions, I have also shifted my mindset towards maximizing. And so, I have a few tips and tricks I’ve begun to collect over my first month here.”
Food is always a major topic of discussion among students, whether they’re intent on making the most of their DIS grocery stipend or just staying conscious of their restaurant spending. From buying staple ingredients in bulk to taking advantage of a worthwhile sale, Julia employed several money-saving techniques.
Read Julia’s tips and ruminations
Henry (he/him), Colorado State University, DIS Copenhagen
Prioritize cost-efficient (and sustainable) travel
Throughout his semester abroad, Henry resolved to travel sustainably and economically.
“While classmates might take expensive flights to Munich for Oktoberfest or to see the sights of Barcelona, for the budget-minded traveler there are still countless opportunities to travel and discover new things.”
After taking the Øresund train from Copenhagen to Malmö, he sampled Swedish confectioneries, took in the scenery, and toured the Disgusting Food Museum. In his account of the trip, he also provides nearby travel recommendations for folks who want less city, more nature (spoiler: consider Møns Klint and Naturpark Amager!).
Read Henry’s cost-candid travel pointers
Jack (he/him), Tufts University, DIS Stockholm
Make the most of your transit pass
Throughout his Stockholm semester, Jack marveled at the utility of the SL transit card. Taking advantage of all the modes of transit it offered him, he viewed the pass as a “gateway to explore.”
“Soon after my Swedish touchdown, I found my SL card while inspecting the arrival envelope awaiting me in my apartment. I was soon informed that this was my (literal) ticket to (nearly) the entirety of Stockholm’s public transit system. While it includes access to every stop on the tunnelbana (metro), that’s just the tip of the iceberg.”
As Jack writes, your transit card gives you full access to the entire tunnelbana metro system, allowing you to journey throughout Stockholm and far beyond the city. You also have access to busses, trams, commuter trains, and even ferries, allowing you to hit the water and explore along the achipelago’s many islands.
Read Jack’s explanation of the almighty SL card
As the students attest, while studying abroad is a significant investment, careful planning and budgeting can make all the difference. Hunting for more resources on finances and affordability in Scandinavia? Check out the links below.
>> DIS Scholarships
>> Living expenses and budgeting in Stockholm
>> Living expenses and budgeting in Copenhagen
>> Accessing money in Stockholm
>> Accessing money in Copenhagen