The start of the academic year is an exciting event for many students. However, it also requires thorough financial preparation. The expenses involved in academic studies can be high, so it is important to start saving and plan your budget in advance.
Among the most common expenses in this regard are:
- Tuition – Tuition fees for degrees at universities and colleges in Israel range from thousands of shekels to hundreds of thousands of shekels. Some students are eligible for discounts or scholarships, but it is important to check their eligibility in advance.
- Living expenses – include, inter alia, rent, water, electricity, gas, communications and transportation.
- Food – Some students cook for themselves, but there are also those who use food ordering services and eat out. Food costs can vary depending on lifestyle and budget.
- Office supplies and educational materials – office supplies such as laptops, notebooks, pages, etc., and materials such as books and magazines, which can be expensive. Planning ahead and conducting market surveys are important steps.
- Recreation – Recreation costs can vary depending on lifestyle and budget.
Here are some tips for students' financial preparations for the start of the academic year:
Start saving as early as possible. Even if you can only save a small amount each month, it will be significant for the academic year.
Check your eligibility for discounts or scholarships. Plan your budget carefully.
Be flexible on a budget. Things don't always go according to plan, so it's important to be prepared for budget changes.
Get help from others with experience in the field.
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