Will you be able to cover the costs of multiple years of studying? Don't know? You definitely should!
Make a financial plan that covers your entire study period at Erasmus University Rotterdam.
Running into financial surprises is something you want to avoid at all costs. Jenny, who regularly helps out students with (financial) issues in her role as student counsellor, also urges you to prepare properly. Don’t forget to read her tips!
Pro-tip: do not rely on the income of a side-job to cover your studies and living expenses, as it is not certain yet if you immediately find a job as an international student and whether you have enough time to work next to your studies.
How to make a financial budget plan?
We have made this Budget Calculator for you to work with. It allows you to properly create an overview of the money you need and the money you have.
How the Budget Calculator works
- Before your start creating your budget plan: get to know more about the costs of living in the Netherlands;
- Download the Budget Calculator (PDF);
- Fill in your monthly income;
- Fill in the monthly expenses;
- The sheet will automatically calculate your monthly disposable income. This is the amount of money you still have left after you covered all of the expenses.
Photo: don't hesitate to ask a friend or classmate with help regarding the budget plan.
Frequently Asked Questions
- The budget plan gives you a clear overview of your income and costs and gives you the opportunity to manage your expenses better. Completing the budget calculator also provides you with the information on how much financial support you need.
- It's not mandatory, however strongly recommended.
If the workload of your study programme allows, you can always go look for a side job. However, as an international student it’s important to make sure you know what to expect by reading through the information about side-jobs. There might be specific rules and regulations depending on your nationality.
You can check minimum wages in the Netherlands here.
Make sure to talk about your salary when applying for a job, so you know what to expect right away. As an international student, you have to take more things into account than salary though. For one, you’ll probably need public health insurance and this will cost you money. Read through all the information carefully, since rules and regulations around working depend on nationality.
Doing your groceries at the weekly markets, at Aldi / Lidl instead of Albert Heijn, and paying close attention to deals and sales (compare supermarkets!) might be first things to consider. Bringing your own lunch and snacks and not going out for dinner / coffee can also be easy tricks to save some money. Are you already doing these things and still have financial issues? Don’t hesitate to contact our student counsellors, they’re here to help you.
Find more information and tips about daily expenses on out 'Cost of living in the Netherlands' page.
You may be eligible to get healthcare allowance if you participate in the Dutch public healthcare insurance system. If you are insured via an independent policy (with an insurer such as AON or Lippmann) you will not be eligible for this allowance. You can find more information on the Study in Holland website.
Depending on your financial situation, you might qualify for housing / rent benefit. This is a subsidy provided by the government to residents on a low income with high rental costs. More information can be found on the website of the Dutch government and tax authorities.