The International Student Guide to Smart Budgeting

Balancing your studies with smart budgeting is no mean feat. According to studyportals, the average student in Oslo spends NOK10 000 to 20 000 monthly, equaling to around 900 to 1800 euros. This includes rent (around NOK6000), groceries, public transport, daily expenses, doctor's appointments, sports or gym memberships and leisure activities like going out for coffee, viewing art, going to the movies or skiing. Knowing this, most students get part-time jobs, rely on student grants like Erasmus or Lånekassen, or simply ask their families for support to help out with the expenses.

The first time moving away from home and abroad can be a nerve-racking experience, and not everyone thinks about budgeting and the hidden costs of studying abroad. I sat down for coffee with three different students – wisely or unwisely spending some of my ‘fun money’ into the writing of this article. Their honest opinions about the high living costs of Norway in comparison with other European countries got me thinking whether we as students could be baring more costs than we can manage. If so, how can we budget accordingly?

The Bureaucracy of Grants, Loans, and Part-time Jobs

There are various options to consider for financial aid while studying abroad. Some students opt for the Erasmus scholarship that funds a maximum of two semesters studying abroad. The specific amount of money received depends on agreements between universities and governments. 

However, international students doing a full degree exceeding two semesters have to apply for other types of grants and loans. While some countries may have their own loan and student aid systems, Norway offers students registered as Norwegian residents the option to apply for a grant through Lånekassen. To be eligible for this you need to work a weekly minimum of 10 hours and be admitted to an approved education center, amongst others clauses. 

Some students, however, report experiencing other hurdles.

– I got accepted, but didn’t receive the money until months later due to an administrative error, explains Jesus Marcos (24). 

While trying to figure out the mistake behind his application he ran into a language barrier.

– The answering machine was completely in Norwegian, and with my knowledge in Norwegian I couldn’t understand most of what they were saying. The email for support was down at the time, so that was out of the question, he says.

During our conversation, we got to talking about the long process of getting police appointments, residence permits, and electronic identification, many of which are needed for getting employed in Norway. 

– You need to get everything in check as soon as possible, Marcos adds. After this process is done, finding a job should be easy, except that the job portals and offers are mostly in Norwegian. 

– I think it’s not impossible to get a part-time job, but it is more difficult when you start as a student. It’s like you are placed in a lower tier, states Julia Hatalak (21), a Polish student on the Erasmus grant.

Fun Money, and the Unexpected Costs of Being a Student 

Now, don’t get me wrong. In this day and age of late stage capitalism, I too, can fall victim to unwise spending whenever I step foot in a Normal. Nevertheless, there’s a difference between hobbyist overspending and actually having to deal with unexpected expenses. During our interview, while addressing the overpriced coffees we were both drinking, Hatalak coined the term ‘fun money’, which made me laugh in its relatability.

– I’ve been sick for the past month, so I have spent a lot of money on appointments, drugs… all my ‘fun money’ is gone, she laments. 

People who come from countries with free universal healthcare can be shocked having to pay NOK200 for just a visit to the doctor. This may be cheap for someone from Norway, yet on a student budget might amount to something like five days of groceries. 

– Even the prescription alone was expensive, Hatalak complains. I had to agree, thinking about the NOK250 I had just spent on cranberry capsules my OBGYN recommended me on my last visit. 

The good thing about Oslo is that it has a lot of free leisure activities available for students. Hiking, cross-country skiing, and even museums are free for everyone. However, Masai Ballew (22) points out that if you want to participate in activities, some things you do need equipment for. 

– I barely thought of this when I moved, but winter inevitably arrives. Your friends might be outdoors skiing, skating, or hiking, and then you too have to buy a pair of snow pants or boots or sunglasses. There is always something. 

After giving it some thought, Jesus shares that he doesn’t feel like Oslo is that expensive of a city when it comes to costs of living. Even so, he advices readers to be careful with leisure activities that can quickly suck up more money than one might expect. 

Personally, I can relate. Could my love for sushi and Chinese food actually be the reason I can barely manage to stick to my tight budget?

Some Advice for Students in Doubt 

Personally, I took a gap year before starting my Master’s studies abroad. This gave me the ability to work while still living with my parents, something that helped save up money to support myself during the first year. 

Ballew has made the same choice. As a non-EEA citizen she had to pay tuition and application fees when applying to study at the University of Oslo. After six months, she hasn't yet begun looking for jobs. 

– I worked and saved up quite a lot before coming here. Last year I still lived at home, so I didn’t have to spend that much money on food or rent, allowing me to focus on my goals of living abroad, she explains.

Ballew confesses to being worried about the process of finding a job for the summer. 

– I was okay and comfortable this year in terms of survival, but I haven’t really been able to consider travelling or fun stuff. 

While work can be fulfilling, it can also take a toll on your studies. This is why other students find loans and grants more compatible with their full-time studies. Hatalak shares that she divides her grant in monthly budgets to avoid overspending.

Unexpected costs, balancing studying and work, budgeting, and wrapping your head around all the bureaucracy. All this can be tricky for students experiencing adulthood abroad for the first time. Regardless, Marcos, Hatalak and Ballew haven't given up. In the end, smart budgeting is just another challenge in the life of an international student that can be mastered.