29 Jan 2025
Did you come as a Nepalese student preparing for a wonderful experience in Austria, both studying and preparing to send money to Nepal from Austria after earning through part-time jobs? Although learning in a different country could be an exciting experience, one must make proper financial decisions during the process. The standard of living in Austria in 2024 has increased by approximately 4%, meaning there is a need to carry out elaborate budgeting.
Here is the guide that will assist you in managing your money and getting the best out of your learning experience in Austria. In this blog, you will learn how simple it is to take care of your finances while studying in a different country with ACE Money Transfer.
Staying in Austria is rather colorful, but one should anticipate costs in this country. A student's accommodation, food, transport, and other personal facilities and materials will cost from €800 to €1,200 a month.
Following is the cost list of some basic things that Nepalese students have to consider while residing in Austria:
Rent can be your most significant expenditure. Modern shared apartments and student dormitories cost from €250 to €600 per month, depending on the geographical location and equipment. Begin your search early as shared accommodation options are always limited since they are cheap and you can save more to send money online to Nepal from Austria to support your loved ones back home.
Your monthly grocery bill should not be less than €150 or more than €300. To reduce expenses, try to avoid eating out; it is better to cook your food at home. As Gokusen notes, fresh markets are cheap and sell local produce; additionally, purchasing in large quantities is cheaper.
Austria can pride itself on having marvelous public transport systems. Monthly tickets for tram, bus, and rail services typically range from €50 to €60 per person with student fare discounts. It means that purchasing a monthly transport pass will be more financially beneficial, and you will also be able to navigate your new environment more conveniently.
In other words, financial management is crucial for you to succeed both academically and socially. Here are some practical tips to help you stay on top of your expenses:
First and foremost, it is necessary to set a monthly cap. Report your anticipated income (savings or part-time jobs) as well as all the necessary expenditures. Based on your preference, it can be used to budget by employing budgeting applications or a simple Excel sheet and doing maximum savings so you can make a money transfer from Austria to Nepal whenever needed.
One should always be frugal as much as possible if it’s possible, this is because small changes do help when it comes to saving money.
It may be useful to look for a side hustle or to find an internship in order to receive more money. The majority of universities in Austria permit students to work up to 20 hours per week during the semester, which should help to reduce costs. Seek employment in your area of specialization to get practical experience besides being paid.
Overall, it is exciting to study in Austria due to the available academic experiences but it calls for a balance in terms of work and study to balance both financially as well as academically. Since Austria enables students to work up to 20 hours per week, it is easy to acquire practical experience while also catering to the costs of living.
It also discusses the advantages of searching for part-time employment or internship within your major, escaping the time management traps, and the approaches needed to avoid suffering a poor grade in your classes.
Expenses don’t necessarily have to cause stress for you when making an online money transfer from Austria to Nepal when you are studying in Austria. Overall, recognizing the cost of living and practicing smart money management ensures that you do not have to spend a lot of money on your stay. Just to remind you, everything here is about planning and, therefore, making conscious decisions.
Are you ready to bring your financial life into order? Start your journey today! Find out more about the services offered by ACE Money Transfer to have a quick and cheap way of sending remittances. Using the advanced money transfer app, ACE Money Transfer, you save enough on your remittances in terms of low transfer costs and also enjoy competitive exchange rates.
For the students, the cost of living is an average of €800 — €1,200 per month in Austria.
Search for a flat shared with other people as these are cheaper, or buildings where students live.
You can cook more food at home, go shopping at local markets, and scale up your buying.
In sharp YES, most modes of transport in the Austrian public transport systems contain a student discount for monthly passes.
There are various ways of searching for a part-time job, such as online University job search, newspapers, local paper classifieds, Indeed, etc.
