Now that you have decided to enrol at a university in a foreign country, it is important to realize that have left home and are responsible for your own actions, including the management of financial resources. Money budgeting is a hard thing, each student must face it, but after the first few months and more so after the first year, making calculations and adapting the budget to different needs, it will all become much easier.
We recommend these simple tips to balance the budget:
- Calculate your overall monthly income (money from parents, scholarships, jobs etc.)
- Determine your main expenses (rent, utilities, food, books, etc.)
- Set aside a certain amount every week for trips, fun activities, etc.
- Keep track of all expenses, receipts, invoices, etc.
Utility bills will vary depending on individual needs and will fluctuate depending on the month and time of the year.
Tip – During the first month of the university, you will typically spend more money, so do not panic if at first it seems that you slightly exceed the budget.
Generally speaking, your spending list should look something like this:
Rent + utilities (student dormitory fee)
Books + school supplies
Telephone + internet
On average, a student spends about 600-800 euros/month (this varies based on accommodation in an apartment / student dormitory).
In Romania, the national currency is ʺLeuʺ (RON). For a simple calculation, you can use the following conversion rate of 1 Euro = 4.5 Lei.