When preparing for an amazing summer experience, budgeting is one of the smartest things you can do before you leave. You may think you came prepared, but those smaller day-to-day costs can sneak up on you. Things like lunches, souvenirs, clothes, snacks, or even an unexpected craving for gelato can really add up if you’re not careful. Learning how to plan my spending ahead of time helped me make the most of my summer program because I wasn’t constantly worrying about running out of money. Here are some of the best tips and tricks to help you manage your spending wisely so you can enjoy your program stress-free and still come home with great memories (and maybe a little money left over)!
First, set a realistic budget for yourself before you leave. It’s easy to tell yourself you’ll “just figure it out once you get there”, but having a plan made a huge difference for me on my second summer abroad. Start by thinking about what you’ll likely spend on each day: lunches, snacks, souvenirs, small personal items, or outings with new friends. Once you’ve listed everything, estimate how much you might spend per day. For example, if you plan to spend around $20 to $25 a day on food and little extras, multiply that by the number of days you’ll be away. This gives you a ballpark idea of how much pocket money to bring. It’s better to slightly overestimate than underestimate because there will always be something that catches your eye, as well as prices in tourist areas are often higher than at home.
Next, divide your spending money into categories or “mini budgets.” For example, you could decide to have a food budget, a souvenir budget, and an emergency budget. Some of the people I met liked to use the envelope method, which is putting a set amount of cash into labeled envelopes for each category or week of the program. This can help you visually track how much you have left and stop you from overspending early on. If you prefer digital tools, there are plenty of apps that can help you organize you expenses and show you where your money is going. The key is to regularly track your spending so you don’t accidentally go through your budget too fast.
Another trick is to be mindful of how often you eat out. Eating at restaurants or cafes every day adds up quickly. Try finding inexpensive “hole in the wall” spots where you can get a filling lunch for a good price, as well as buying snacks, fruit, or breakfast items from a supermarket, can save a lot of money over time. Plus, it gives you the change to try local foods more authentically and affordably.
Lastly, avoid converting money too often or using your card for small purchases. Transaction fees can also add up! Keep any cash in a secure spot (like a locked suitcase or a hotel safe) and only carry what you need for the day.
Budgeting might sound restrictive, but it’s actually the opposite; it gives you more freedom. When you know you’ve planned well, you can say yes to experiences without worrying about running out of money. The Global Summers Academy programs are life-changing opportunities, and with a little financial planning, you can focus on enjoying every moment exploring new cities, meeting new people, and making memories that will last long after the summer ends!
Thanks to Student Ambassador Brooks M. for writing this blog post!
