Financial Wellness

  1. FAQ & Resources
  2. Wellness
  3. Financial Wellness

Financial wellness in the global education context is not just about paying for your program. Financial wellness begins with you: research all costs related to your program, from tuition to budgeting for pocket money during your global experience. Have honest conversations with yourself and/or your family about finances. Your Program Manager and/or Pitt-recognized provider can help by providing cost details to you. We also urge you to visit the Financial Aid Wellness Center or your campus's financial aid office so that you understand how any financial aid or scholarships can be applied to the cost of your global experience. We want you to be comfortable with your finances throughout your global experience. In addition to the wellness-centered resources listed here, please be sure to consult the Finances section of the Pitt Study Abroad website for more technical details. 
 
While this section is focused on financial wellness, we encourage you to approach your global experience holistically--or whole-istically. Ideally your takeaways from the experience will impact all of the dimensions of wellness in some way. Here are some tips to get you started: 
 

Financial Wellness Tips:

  • Consider what your priorities are for your global experience. 
  • Do some research on your specific program location.
  • Talk to Financial Aid and apply for scholarships.
  • Make a budget!
  • It is never too late to start a savings fund - and get creative with ways to save! 
  • Call your bank/credit cards before you depart.
  • While on your program, make sure you have more than one way to access funds. 
  • Make any necessary arrangements for any current bills and/or taxes to be forwarded to you or covered while you are away.
  • Look up the local currency and exchange rate before you go. 
  • Shop and eat where the locals do! Tourist areas are almost always over-priced. 
  • Use student discounts when possible. Many museums and other cultural organizations offer student discounts on tickets/tours, for example. You'll even find that transportation can be cheaper with a student ID. 
Before you depart for your global experience, it is important that you fully understand the costs associated with your program as well as any other out-of-pocket expenses. Program costs (or estimates) are located on the program webpage or through the provider's website, depending upon your program type. A well-planned budget can help to keep you on track and can allow you to fully embrace your experience without it becoming a financial stress. Most importantly, connect with your financial aid office to review if/how any financial aid can go towards your anticipated expenses. In addition to the wellness-centered resources listed here, please be sure to consult the Finances section of the Pitt Study Abroad website for more technical details. 
 

Resources

Pitt Study Abroad budgeting sheet*

Pitt Office of Financial Aid*

Bradford Campus Financial Aid*

Greensburg Campus Financial Aid*

Johnstown Campus Financial Aid*

Student Payment Center*

Scholarships*

ISIC International Student Identity Card

Apps

Mint - Financial planning app. Available for iOS and Android.

Tripcoin - Travel budgeting app. Available for iOS.

XE Currency - Currency converter/exchange rates app. What's your money worth where you're heading? Available for iOS and Android.

Trail Wallet - Travel budgeting app. Available for iOS.

Articles and Blogs

15 Ways to Save Money for Study Abroad - IES Abroad blog.

Financial Aid for Study Abroad: An Undergraduate Student's Resource - NAFSA article with linked resources.

Vlogs, Videos, & Podcasts

Budgeting - A Federal Student Aid video on budgeting for the college student. (2m)

How to Budget and Save for Study Abroad - Diversity Abroad video. (1hr)

 

Don't throw your budget out the window once you get on-location. While you'll want to make the most of your experience, you'll also want to make sure you are keeping yourself comfortable financially and being mindful of what you can or cannot afford. There are plenty of ways to be money conscious while on your program. Cook your own meals when possible, utilize student discounts, or research economical travel options, for example. In addition to the wellness-centered resources listed here, please be sure to consult the Finances section of the Pitt Study Abroad website for more technical details. 

 

Resources

Pitt Office of Financial Aid*

Bradford Campus Financial Aid*

Greensburg Campus Financial Aid*

Johnstown Campus Financial Aid*

Student Payment Center*

ISIC International Student Identity Card - A search engine of available discounts by country.

Apps

WeTap - Save your money and use this app to refill your water bottle. Water isn't free at most restaurants abroad! Available for iOS.

XE Currency - Currency converter/exchange rates app. What's your money worth where you are? Available for iOS and Android.

GlobeTips - App to help you determine an appropriate tip (if any) in locations around the world. Available for iOS.

The ISIC global app - Can help you filter discounts by destination. Available for iOS and Android.

Articles and Blogs

Pack These Useful Money Tips When You Study Abroad - Nerdwallet article with a list of common/well-known banks in some countries abroad.

Stretching Your Money While Abroad - Diversity Abroad post.

Getting the Best Deal - How to Haggle Abroad - GoAbroad.com blog post on the art of negotiating down prices.

 

 
Financial wellness doesn't end when you return from your international experience. When you return, reevaluate your financial situation. Have things changed? Be proactive on what you can do to help build your finances back up. We know that studying abroad/away is a financial investment. Think about how you can get a return on that investment by attending some re-entry workshops. 
 
For more resources, support and information on re-entry, please visit the Pitt Study Abroad Alumni webpage.
 

Resources

Pitt Office of Financial Aid*

Bradford Campus Financial Aid*

Greensburg Campus Financial Aid*

Johnstown Campus Financial Aid*

Pitt Business International Ambassador Program* - Are you a Pitt Business major who studied abroad? Help others along their study abroad journey while being paid to speak about yours!