How do I manage my money while doing an internship abroad?

Step 1: Saving
I finally got the opportunity to do an internship abroad! And it’s in the most beautiful place in Spain. However, I was concerned about my finances. How would I manage to cover my rent, groceries, and fun activities each month, all without receiving a stipend for my internship? Let’s be honest, with all the temptations and activities awaiting me, I had to make choices. I knew I had to be smart with my finances, but I wondered, how do I tackle this?

In the Netherlands, I sometimes had to choose to work instead of hanging out with my friends. After all, I needed to earn money to save, but I also know myself: I’m not good at saving… That’s why I made a plan for myself!

I could, like everyone else, set aside money every month to build up savings, but as I mentioned earlier, I’m not good at that. So, I talked to my employer. I asked if it was possible to accumulate overtime hours to be paid out over the months I’ll be in Spain.

My employer understood my situation and also found it convenient that I would remain under contract with them (during my time abroad). So, my employer thought this was a good idea and agreed to it.

I had five months left before I departed for Spain, so there was plenty of time to accumulate overtime. As I mentioned earlier, before going to Spain, I had to make budgetary choices (like choosing work over hanging out with my friends). So, I started working extra and tried to accumulate as much overtime as possible, and it worked! After five months, I had accumulated so much overtime that I received about €600 each month for the months I would be in Spain. Life in Spain is much cheaper than in the Netherlands, so this definitely made a difference!

Step 2: Making Budgetary Choices
Once during my internship, I discovered that saving money isn’t everything. Making budgetary choices is also important when it comes to managing your finances, and that brings us to step 2.

I found that I can reduce certain costs by making smart choices. Instead of eating out every day, I started cooking my own meals with fresh ingredients from the local market. This not only saved me money but also gave me the opportunity to learn to cook Spanish dishes.

Here are some tips that help me manage my money effectively during my time abroad:

• Share a room: Receiving an internship compensation is rare, so consider shared accommodation to split costs and meet new people. You’re not the only one embarking on such an adventure!
• Use public transportation: Public transport is well organized in Spain and saves you a lot of money! If you prefer other modes of transportation, apps like Bolt and Uber are cheap alternative options.
• Look for discounts and offers: Many museums, attractions, and restaurants offer discounts for students. Keep your student card handy and inquire about any discounts before going anywhere. MSE (Malaga South Experiences) also offers various discounts.
• Download the Dyme app: an app that allows you to track your income and expenses. You can categorize your expenses and see where money is coming in and going out.
• Only use the air conditioning when necessary: Air conditioning really drains electricity! So only use it when you really need it. This helps save on electricity costs.
• Keep an eye on the JongLeren.es app for useful tips, offers, and discounts.
• Reconsider subscriptions: Take another look at the subscriptions you have. Maybe money is being deducted from your account every month, while you no longer use them.
• Inquire about possible subsidies; there are often reimbursements or subsidies such as a living-away-from-home grant or travel expense reimbursement.

By being mindful of my expenses, I can enjoy my internship in Malaga without worrying about my finances. My experience teaches me that even with a limited budget, I can experience everything that Spain has to offer.