How I live and study in Europe on a tight budget (it is really not that hard)


English / segunda-feira, março 5th, 2018

I don’t need much. I truly believe that I don’t need much. Of course, I like some comfort, a comfortable and private room, vegan food, and warm clothes. I like some extra money to travel once in a while or enjoy a museum and a lunch and dessert in a restaurant. But I don’t need much more.

We live in a society that wants you to want stuff. But even though stuff is nice, it’s just stuff. The sooner you realize that, the sooner will be able to let go of our society embedded idea of having stuff.

We all need some stuff though: a place to sleep, clothes, food, internet, technologies for us to access the internet, hygiene products. But that’s about it. We don’t need hundreds pairs of jeans and shirts and shoes. We only need a few. We don’t need to buy a new smartphone every year. We only need to buy one. Same goes for other electronics. Same goes for kitchen supplies, cosmetics…

In Europe, as a scholarship student, I don’t have the luxury to spend much because I don’t earn much. So not buying is not actually a choice. I have to be careful. But even so, I can’t afford living month by month without having some back up money because, well, we never know.

One of the main ideas about personal financing is that you have to pay yourself first.

That’s why no matter what, I save 10 to 20% of my earnings. So I start the month with only 80%. The thing is I don’t spend the 80% left. I spend about 50% of that in a month.

So my rule of thumb is saving at least 10% of my income of the month and spending only half of what is left. How do I do it? I set up a savings account with my student account. So every month, I transfer with no hassle my savings.

When we are a student living abroad, we don’t tend to think too much about savings because we get so little anyways. But saving has to be part of your routine, no matter how much you get. It’s all about paying yourself before bills and expenses.

It’s also about not shopping that much

Being able to spend so little means I don’t really go to shopping malls to spend time or when I’m bored… I go to parks, free or cheap museums. And I don’t really eat out often. But when I do, I try to go to a place that matters to me: vegan, local, or to meet friends.

I’m not much of a social person. So parties and happy hours happen occasionally but not several times a week. When I travel, I always stay at hostels. I have used Couchsurfing in a few occasions as well, when in Munich, London and Amsterdam. Couchsurfing is free, and usually you have the help and attention of your host. It’s about connecting and making friends while travelling and saving money on a place to stay. I like taking the bus when it’s cheaper than trains, or even blablacar. Blablacar is paid, but it is usually cheaper and faster than buses and trains.

When I visit a city, I take free walking tours. I eat out only once a day and buy the rest in supermarkets. I take the public transport only when needed (I prefer to walk) and mainly, I don’t buy stuff.

I don’t refrain myself of doing the things that I value. Trips, cultural activities, a vegan restaurant one in a while, weekly groceries of whole and mostly organic foods… those are the things that truly matter to me.

But still, I have more than I need

When I moved from Salzburg to Brussels, I realized how much stuff I have and it made me wonder why the hell a 24 year-old single woman living abroad has to have 17kgs in her dispatched luggage and who knows how many kilos in a 15€ parcel box sent in advance.

I’m very far from being unattached from material goods. But at least I’m conscious about how problematic it is to be attached too much. We don’t need most of the things we think we do. It is true.

I hope to become a more conscious buyer, one day at a time. Value is more important. Value is the most important thing.