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From Arrival to Financial Savvy: Navigating Personal Finance as an International Student in the US

Autumn rolls around, and like clockwork, a wave of international students descends from every corner of the globe. This fresh start, though exciting, can be daunting at first. In my experience, a sound understanding of personal finance can help everyone plan their lives better in this new setting. I can relate to the flood of paperwork and procedures you will encounter because I'm a graduate student from abroad who has travelled this path previously. Even though it may seem like you are facing a huge uphill climb, don't let it scare you. Every part of this journey is just a step in the process. If you just take it one step at a time, you will get through it just fine.

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BUDGETING YOUR STIPEND

As an international graduate student, you are presented with distinctive challenges when it comes to managing your university stipends. The different policies for domestic and international students, the increasing cost of living in various cities, and individualized student needs can make stipend management seem like an uphill battle. But don't worry, this article is tailored to help you understand and navigate your stipend's financial landscape effectively.

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Finding Reliable Guidance and Avoiding Red Flags

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When navigating the landscape of personal finance, it is important to find reliable sources of information and seek guidance from reputable professionals. Engaging with legitimate financial advisors, counselors, or educational resources can provide you with the necessary knowledge and tools to make informed financial decisions and cultivate a healthier financial future. Having a guide to look out for red flags and being able to identify what your needs are is essential for your journey. When you are looking for some advice on your money, turn to a financial counselor or coach.

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Sinking Funds

balancing act with finances

In short, sinking fund categorizations are a great way to prioritize self-care while also staying within your budget. It helps to balance present-you needs while also saving for future-you.

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High Yield Savings Accounts

high yield savings accounts

Saving money is one of the most important skills you can learn and develop while in college. Part of the process of getting into the habit of saving is finding the best place to save your money. To make the most of all the hard earned money you are saving, a great option is to open up a high yield savings account (HYSA).

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Last Updated: 10/30/23