Tips to Save Your Money While Studying in Spain

Spain may have a cheaper cost of living than other countries in Europe. For example, the monthly cost of living for an individual in Spain is only around EUR 609, while in the UK, it is EUR 760.04 per month. 

However, as a student, your finances are limited. Also, depending on your host city, the cost of living can be higher, especially in big and famous cities such as Madrid and Barcelona. Thus, you must know how to save money while studying in Spain. 

To help students, here are some tips they can follow to save their money while in Spain. 

Open a Spanish Bank Account

If you already have a bank account from your home country that also allows you to transact in Spain. Although it is fine to keep it open, it is better if you can open a Spanish bank account while in Spain. 

When you use your home bank account in Spain, bank charges may be higher due to foreign fees. Thus, to avoid those considerable charges a Spanish bank account is important. 

Aside from lessening bank fees, a Spanish bank account also gives you greater mobility while in Spain, and in doing your transactions there. 

Also, if you are planning to rent and pay monthly bills, keep in mind that some only accept payment through a Spanish bank account. 

When Going on a Trip Book Early, and Book Online

If you want to visit other places in Spain, for example, during a holiday break, you can save a lot of money if you book as early as you can and if you do it online. Sometimes, buying a ticket at the train station requires you to pay a surcharge. 

RENFE, Spain’s state-owned company operating freights and passenger trains also offer special discounts when they release new tickets. Thus, be sure to be on the lookout for those.  

Use Student Discounts

As an international student in Spain, your student ID or official school email address can help you access different types of discounts for various situations. From getting discounts at restaurants, flight tickets, gadgets, other online purchases, online resources subscriptions, and other types of activities (gyms, and going to amusement parks). 

If the brands or activities that you want are not included in those, students can also purchase or apply for different discount cards for students, such as the European Youth Card, the International Student Identity Card (ISIC), the International Youth Travel Card (IYTC), and the Spanish Youth Hostel Network Card (REAJ). Those cards are in partnership with different establishments and companies, allowing students to access discounts, freebies, and another promo. 

Learn how to Cook, Buy Your Ingredients Instead of Eating Out

Although you need to try Spanish food while in Spain, you should not make it a habit to eat out regularly. Moreover, it can quickly deplete your savings if you do it daily. 

Thus, if you don’t know how to cook, learn how even before moving to Spain. This can help you save a lot of money during your stay there because buying ingredients you can cook later is cheaper than eating cooked food. In addition, it is also much healthier. 

When you save your money while studying in Spain, you are also allowing yourself some peace of mind, and enough resources to pay for things that you want and need. 

If you want to learn more useful tips and practical information you can use as a student in Spain, don’t forget to check out our other articles at MSM Unify.