Currency fluctuations can significantly affect your study budget, especially if you’re studying abroad. Exchange rate changes alter the value of your home currency relative to the host country’s currency, impacting tuition fees, living expenses, and other costs.
To manage this, monitor exchange rates regularly and use tools like currency converters. Consider locking in rates with forward contracts or prepaying expenses when rates are favorable. Budget for potential fluctuations by adding a buffer (5-10%) to cover unexpected increases. Consulting a financial advisor can also help devise strategies to mitigate risks.
