Turkey is a more affordable student destination than Europe and America. With the development of student savings strategies, this affordability can be enough to keep you comfortable throughout the year. But how affordable is it? The cost of living in Turkey can put a strain on student budgets, especially in metropolitan areas. Although life is not expensive in cities like Istanbul, Ankara and Izmir, small expenses can create a serious burden at the end of the month if you are not careful.
How Much is the Cost of Living for International Students in Turkey?
Daily Expenses in Turkey: Average Expenses
In the table below you can see the average monthly expenses of an international student in Turkey. All figures are calculated in USD at the current exchange rate (1 USD = 38 TL).
| Expenditure Item | Average Monthly Cost (USD) |
|---|---|
| Hostel Accommodation | 150 – 550 USD |
| Home Sharing (Rent) | 200 – 500 USD |
| Daily Meal Expenses | 120 – 400 USD |
| Transportation (Discounted) | 15 – 50 USD |
| Internet + Telephone | 15 – 50 USD |
| Stationery & Book | 10 – 30 USD |
| Social Activity | 50 – 100 USD |
Controlling these costs is the first step in creating a student savings strategy. Keep in mind that it will vary by city.
How to Plan a Student Budget
When I first arrived, I had already paid all the expenses, and then my bank account literally collapsed. Here are a few tips to make sure this doesn’t happen:
- Set a weekly spending limit and track it with an app. I used the “Monefy” app.
- Subtract fixed costs such as rent and utility bills first, then allocate the remaining budget to expenses.
- Make a habit of thinking in TL. Prices can change with the currency, what was affordable one day can double the next day.
Student Savings Strategies: Ways to Earn While You Spend
It’s almost impossible to avoid spending while living as a student in Turkey, but with student savings strategies you can earn while you spend. The biggest advantage? There is a lot of support and discounts for students in Turkey.
Common Student Discounts and Cards in Turkey
After you get your university ID, many places in the city will open their doors to you cheaply. Some of them:
- Istanbulkart Student: Unlimited transportation for only 10-25 USD per month.
- MuseumKart+: More than 300 museums and archaeological sites free for a year for 10 USD.
- Student Movie Passes: You can find movie tickets for 4 – 10 USD in special offers.
- Restaurants and Cafes 10-20% Discount: Especially chain brands ask for student cards.
Most of these are valid not only with the physical card but also with digital applications.
Using Istanbulkart for transportation should be among the most basic student savings strategies because it significantly reduces monthly expenses.
State Support and Scholarship Programs: What You Need to Know
There are many little-known but effective support programs for foreign students in Turkey. You just need to follow the application requirements and timetables carefully. Most importantly: It is critical to seize these opportunities in student accumulation strategies.
Do KYK and Municipality Supports Apply to Foreign Students?
KYK dormitories generally prioritize Turkish citizens, but some universities also allocate quotas for international students. Some municipalities (e.g. Ankara Metropolitan Municipality) also provide cash support for low-income students. You can find out directly from their website or counseling offices.
Universities’ Internal Scholarships and Application Requirements
Each university has its own financial support unit. Some offer scholarships based on direct achievement, while others offer scholarships based on social assistance. The following documents are generally requested:
- Student certificate
- Passport photocopy
- Documents showing income status
These documents will also be useful for the Proof of Financial Capability for Student Visa in Turkey process.
Bank Accounts and Digital Wallets: Simplify Money Management
In my first week in Turkey, the hardest thing for me was withdrawing money. Each time, I was hurting myself with international card commissions. Then I found out that opening a bank account is not that difficult. This is one of the most important steps in student accumulation strategies.
Open a Bank Account in Turkey: Required Documents and Process
An international student with a legal residence permit can easily open a bank account in Turkey. The required documents are generally as follows:
- Passport and student certificate
- Certificate of residence (address registration)
- Tax number (check out Getting a Tax Number for International Students in Turkey to find out how to get one)
Don’t forget that banks offer a foreign currency account option. So you can send and withdraw money in USD.
Financial Errors and Personal Experiences: Don’t Do These Things!
Some things you can’t learn from experience, but let me share what I learned from my mistakes so you don’t fall into the same pit. Student savings strategies include not only budgeting but also behavior.
The Cost of Overspending: Not Seeing the End of the Month
For the first month, I spent all my pocket money on eating out, constant taxi transportation, and “unnecessary but cute” products from the stationery shop on campus. I couldn’t even buy pasta on the 20th.
Now, I would think twice about every expenditure. I ask not just “affordable” but “is it really necessary?”
Is There Such a Thing as “Safe Spending”
No. Spending that you think is safe can also put you in a difficult situation.
So:
- Weekly spending plan
- “One take, one wait” rule
- Set a savings target (e.g. 50 USD left at the end of the month)
These systems make up your personal student savings strategy package.
Don’t Postpone Your Dream with Student Savings Strategies in Turkey!
Studying, settling in a new country, getting used to it… it’s all a big journey in itself. If you don’t want to deal with financial problems, you should plan from the beginning.
Student savings strategies will not only keep you affordable, but also psychologically comfortable.
Plan Now, Live Free Later
If you are planning to study in Turkey, now is the time. With early planning and the right information, you can make money a manageable area, not a source of stress.