If you're thinking of pursuing a Master's degree abroad and money is the first thing on your mind, then a free programme looks like a perfect option. It is very necessary to note, however that the tuition fee is not the only aspect that is key to your financial planning. We're going to look at the other missed costs and hidden costs that you're going to need to bear in mind and how they can add up to the total costs. This way, you will budget your study abroad experience accordingly.

Although many universities offer free degree programmes, administrative costs typically come with them. These can cover materials relevant to your registration, such as books or records. Although administrative costs are not very high, typically ranging from EUR 150 to 250 per semester, they add up to your studies' overall expenses and you should keep that in mind.

2. Transport fees

You will have to make travel plans after you're accepted by the university. You would have to pay for all outbound and return flights out of your own pocket, unless you are studying using an Erasmus+ programme or benefiting from a scholarship. The earlier you order the tickets, the better if you don't want to pay extra.

3. Accommodation costs

You probably saw this one coming, perhaps because it's usually the highest monthly cost. Finding the sweet spot between location, quality and price will be the challenge here. On the university campus, you can find more accessible locations, but expect competition to be strong.

4. Health and travel insurance

Studying abroad typically means that for somewhere from 1-3 years (sometimes even more) you'll be away from home. It is also very important that your healthcare will be protected everywhere you go. All in all, you should consider why in the first place, you want to study abroad. Sure, it's fun to travel and network, and most people love a good all-night party. Make sure, though that you find a balance between this and learning.

7. Cell phone bill

Perhaps this one is a little shocking, but hear us out. There have been several occasions where people have been calling their family and friends for hours or using mobile data overseas, and when they got the phone bill, they were unpleasantly shocked. Purchasing a local SIM card and using it during your study time is the easiest option. You can simply give the new number to your friends and they will be able to reach you. There's always the chance to use free services like WhatsApp or Skype, of course.

It's true that you would have some compromises to make. But for your growth, this is a great time. In order for you to have a much happier life in the future, now is the time to invest in yourself. Cut the unnecessary costs, maybe cook more and eat less and do your best to learn all the skills you need to become an expert in your profession. You will be praised later by your future self!