Studying abroad is an incredible opportunity, but let’s face it—managing finances in a foreign country can be daunting, especially when you’re transitioning from the relatively affordable living costs of India to the higher expenses of a country like France. However, with a bit of planning and smart spending, it’s absolutely possible to live a balanced, comfortable, and social life on a student budget.
In this post, I’ll share my personal strategies for budgeting, dive into the differences in living costs between India and France, and reflect on how the MBA systems in both countries influence our spending and lifestyle choices.
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Budgeting Strategies for Students 
Moving to France taught me that managing money isn’t just about cutting costs—it’s about allocating resources wisely so you can enjoy life while staying within your means.
– Track Your Expenses
I use a budgeting app (like Splitwise or PocketGuard) to keep track of every euro I spend. Seeing your expenses visually can help you identify where you might be overspending
– Prioritize Essentials
After accounting for rent, food, and transport, I set aside a small “fun budget” for socializing, travel, or treating myself to a café outing once a week. This balance keeps me motivated without breaking the bank.
– Shop Smart
- Groceries: French supermarkets like Lidl and Carrefour are affordable, but I’ve also discovered local weekend markets for fresh, inexpensive produce.
- Household Items: Stores like Action or second-hand marketplaces like Leboncoin are great for finding affordable home essentials.
- Student Discounts: Always ask if there’s a student rate—for transport, cinema tickets, museums, and even restaurants. In France, many places offer 20–50% off for students.
– Cook at Home
While Indian food in France feels like a luxury, I make it affordable by cooking at home. Bulk-buying rice, lentils, and spices from an Indian or Asian store has been a game-changer. I mix in French ingredients to keep meals interesting and affordable.
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Indian MBA System vs. French MBA System: How It Impacts Costs 
The educational experience between India and France is vastly different, and these differences also influence student spending.
| Aspect | India | France | Impact on Budget |
|---|---|---|---|
| Tuition Fees | Typically lower, with options for scholarships. | Higher, but often include global exposure. | Higher tuition may require stricter budgeting for living costs. |
| Class Schedule | More structured, with a focus on academics. | Flexible, with emphasis on self-directed learning. | More free time means more opportunities to explore (and spend). |
| Networking | Limited to domestic companies. | Access to global industry leaders and firms. | Networking events may come with costs like travel or formal attire. |
| Learning Style | Theory-focused, exams-driven. | Practical, project-based. | Collaborating on projects may involve costs like printing or software. |
In France, the culture around MBAs often encourages social and cultural engagement, which means budgeting for events, meet-ups, and personal development activities is crucial.
One of the biggest adjustments for me was adapting to the higher cost of living in France compared to India. Here’s a breakdown of some major expenses:
| Category | India (Monthly) | France (Monthly) | Key Difference |
|---|---|---|---|
| Rent | ₹5,000–15,000 | €400–€700 (₹35,000–₹60,000) | Housing in France is significantly more expensive, especially in cities like Toulouse. Shared accommodations or student residences help reduce costs. |
| Food | ₹3,000–6,000 | €150–€250 (₹13,000–₹22,000) | Groceries in France are pricier, though cooking at home saves a lot. Eating out is a treat rather than a routine. |
| Transport | ₹1,000–3,000 | €40–€60 (₹3,500–₹5,000) | Public transport is efficient but more expensive. Monthly student passes are a lifesaver. |
| Miscellaneous | ₹1,000–3,000 | €100–€150 (₹8,500–₹13,000) | Entertainment, phone plans, and unexpected expenses add up faster in France. |
Tips for Balancing Comfort and Social Life 
- Be Honest About Priorities: Decide what’s important to you—whether it’s traveling, eating out, or saving for experiences like museum visits.
- Build a Support Network: Sharing meals, traveling together, or splitting costs with friends makes life more affordable and enjoyable.
- Embrace the Local Lifestyle: In France, quality often trumps quantity. Focus on enjoying smaller pleasures, like a great cup of coffee or a serene walk.
- Plan for Big Expenses: Allocate a portion of your monthly budget for travel or splurges, so you can enjoy them guilt-free when the time comes.