Why make a financial budget plan?
Will you be able to cover the costs of several years of studying? If you are not sure, it is important to find out now.
A financial plan that covers your entire study period at Erasmus University Rotterdam helps you avoid unpleasant financial surprises. Jenny, a student counsellor who regularly supports students with financial questions, strongly recommends that you prepare well.
Pro tip: Do not rely on the income of a side job to cover all your study and living expenses. As an international student it is not certain that you will immediately find a job. It is also not guaranteed that you will have enough time to work next to your studies.
The EUR Budget Calculator
You can use the EUR Budget Calculator to create an overview of the money you need and the money you have during your studies.
- Fill in your monthly income;
- Fill in the monthly expenses (use the Cost of living in NL page);
- The sheet will automatically calculate your monthly disposable income. This is the amount of money you still have left after you covered all of the expenses.
FAQ's
It is not mandatory to make a budget plan. However, Erasmus University Rotterdam strongly recommends that you do so. A clear overview of your income and expenses helps you avoid financial stress during your studies.
Consult the Financial support page to inquire about your financial aid possibilities.
If the workload of your study programme allows, you can always go look for a side job. However, as an international student it’s important to make sure you know what to expect by reading through the information about side-jobs. There might be specific rules and regulations depending on your nationality.
You can check minimum wages in the Netherlands here.
Make sure to talk about your salary when applying for a job, so you know what to expect right away. As an international student, you have to take more things into account than salary though. For one, you’ll probably need public health insurance and this will cost you money. Read through all the information carefully, since rules and regulations around working depend on nationality.
Doing your groceries at the weekly markets, at Aldi, Lidl & Dirk instead of Albert Heijn, and paying close attention to deals and sales (compare supermarkets!) might be first things to consider. Bringing your own lunch and snacks and not going out for dinner / coffee can also be easy tricks to save some money. Are you already doing these things and still have financial issues? Don’t hesitate to contact our student counsellors, they’re here to help you.
Find more information and tips about daily expenses on out 'Cost of living in the Netherlands' page.
There is a possibility you qualify for (full) student finance. Please see our webpage on student finance from Dienst Uitvoering Onderwijs (DUO) for more information.
You may be eligible to get healthcare allowance if you participate in the Dutch public healthcare insurance system. If you are insured via an independent policy (with an insurer such as AON or Lippmann) you will not be eligible for this allowance. You can find more information on the Study in NL's website
Depending on your financial situation, you might qualify for housing / rent benefit. This is a subsidy provided by the government to residents on a low income with high rental costs. More information can be found on the website of the Dutch government and tax authorities.
