Having fun and saving money aren’t two things that typically go together, especially while you are abroad. But, through good company and an open mind it is doable.
As someone who is saving up money to attend college and travel through Europe, and who also happens to be on a low income; I am always conscious of how much I can spend. At first I was nervous and felt guilty whenever I spent money on things that didn’t go towards my goals. I quickly realized that was foolish and nearly impossible. I realized that it is okay to spend money going out with friends getting a bite to eat or going to the movies as long as it is in moderation. My brother helped me create a budget: I make 70 euros a week, save 50 euros for my goals, spend 8 euros on something that matters to me here (going to the gym), and that leaves me 12 euros a week. This budget is very doable!
12 euros can go very far in one week or it can be spent on one thing. I’m not saying you have to make it last as long as you can, you just need to know what you want to spend it on every week. I like to mix it up, if my friends are all free and want to go out then I am fine spending more money on drinks and food as long as it fits in the budget. I sometimes spend 18 euros one week and just 6 euros the next.
Some tricks I have for staying within the 12 euros is making plans in advance so I know roughly how much cash I need to have on me instead of carrying extra that is just asking to be spent. I also try not to carry my debit or credit card on me unless there is a possibility I’ll need. If I know I am going out all day I will either eat before I leave or bring a snack with me so that I am not tempted in buying food I don’t need. If I am wanting to buy something, it has to be something I think I truly need and I wait a week or two to buy it to make sure I am still feeling the need for it by then. I try to take advantage of the things I have, like the travel card that takes me anywhere in Madrid and close to Madrid by bus, train or metro. I also take advantage of student discounts, outdoor gyms, free events going on in Madrid, and other kind of special offers.
My friends and I like to have picnics in some of Madrid’s beautiful parks instead of going out to eat. While this option is starting to expire because of the cold weather, it is a good option because we each go to the grocery store and spend about 2 euros each on food a lot healthier than any restaurant would offer for 2 euros. There are many other alternatives that I would say are equally as fun and half the price! This weekend I hardly spent any money, my friends and I used our transportation cards to get to a hike, I spent a few euros on fruit and a cup of warm coffee after the hike and that was it! Then today a friend and I rented an electric scooter and zipped through the city (highly recommend, so much fun!). We used the scooter for just under an hour which cost us 7 euros and since we shared a scooter it was just 3.5 euros each. Afterwards we got another cup of warm coffee that was under 2 euros. This week I have been under budget and have had one of the best weekends since I’ve been here. There are endless outings you can do for little to no money. Lots of museums are free on certain days of the week as well as festivals and churches, parks, cemeteries (If you want to visit one on Halloween), many things you’ll randomly find walking around and exploring neighborhoods. One of my favorite places to go for free is the public library, it is perfect for study groups, free Wifi, and just a new place to do your homework. Another thing I love to do for free on the weekends is go to “El Rastro,” it is a huge market with streets full of handmade goods and vintage knick-knacks (I’ll make a separate post about it later).
I hope this post helps!