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Managing your money 3 July 2019

Expand your horizons by studying abroad

In today’s fast-paced business world, a growing number of people are investing in a globally-recognised education.

Being prepared for tomorrow demands versatility, and an ability to participate in the competitive job market. Further study will not only give you more career options, but may also increase your earning power. 

Why study abroad?

A post-graduate qualification is an excellent way to enhance your career prospects. In addition to giving you a competitive edge, a post-graduate qualification demonstrates commitment, resilience and determination. It also says a lot about your ability to think independently at an advanced level, and shows that you are willing and able to learn new skills and explore different ideas. 

Studying overseas will give you the opportunity to meet people from other countries, enabling you  to gain an understanding of different cultures and traditions.

Tuition fees and living costs

The costs of studying, living and travelling abroad vary from university to university, country to country, and between different types of qualifications. Choosing to study at a university in Switzerland, for example, would cost you far more than opting for a similar degree at a university in India or Mexico. It’s important to do the research and to determine what you can afford.

The calibre of the international degree

When deciding which university to enrol in, consider carefully the ideal option for what you are looking for. It’s important to check university rankings. There are several different metrics and ranking systems – such as educational performance, teaching environment or internationality – so you will need to spend some time determining what is important to you.

Access to your money while overseas 

International bank accounts allow for the secure movement of money between countries which can be extremely helpful if you continue to earn income from investments and property in your home country while you are studying abroad or if you already receive income from outside your home country.

An international bank account makes international payments quick and simple, and enables you to manage purchases and expenses and start or continue saving while enjoying your new life adventure. Opening a local account too may make it easy to manage your daily financial needs.

It’s important to do the research, find out how much you need to live, where you will be able to draw money, what the withdrawal limit is, what fees may be applicable, and what the tax, regulatory and legal implications will be going forward.

Next step

If you’re thinking of saving to further your post-graduate studies overseas take a look at the Savings Accounts or Investment Solutions that we offer.