Packing on the pounds … British pounds: Save money while studying abroad 

Katie Maraghy (left) and Ryan Greene are studying abroad in London this spring. Courtesy of Catherine Leonard.

For those studying abroad in the fall, it may be too early to pack, but get a jump-start on budgeting your trip with these money managing tips.

For Elon students, study abroad is common, with 72 percent of students studying abroad at some point during their four years. But traveling doesn’t have to break the bank.

While touring both the host city and surrounding towns, utilize public transportation instead of cabs, and walk as much as possible. Many cities have fairly cheap metros, buses or trains to help navigate the city, and you’ll see more of the city and meet more people this way.

For meals each day, head to nearby stores where locals shop, picking up groceries to cook and prepare at home. Treat yourself to delicacies and the local cuisine every once in a while, but be prepared to pay a bit for it, especially in larger, more expensive cities.

Be especially careful when touring around the city. Keep an eye on your belongings as pickpockets are known to target unaware Americans in busy areas. Tuck credit cards, cash, passports and other travel papers close to your body, and look into purchasing a money belt that allows you to keep your cash snug and close.

When looking for entertainment, being a student has its perks! Museums, theatres and trips will often feature a special price option with a student ID. If a price isn’t posted, ask anyway.

Finally, spend time researching shops nearby. Local options are better and sometimes more authentic than chains when purchasing souvenirs.

When traveling longer distances, websites like Kayak and SkyScanner allow you to compare up-to-the minute price changes on the cheapest flights available.

With enough planning, budgeting and searching for deals, there is a lot of money to be saved while studying abroad.

Bon voyage.

Additional photo video credit: Catherine Leonard and Julia Boyd

About the author: Katie Maraghy

Katie Maraghy is a junior who helped create Elon in the Morning, and currently serves as the show's executive producer. She has also served as an ELN anchor and reporter. She is currently interning with CNBC and College Tourist in New York City.