One of the hardest things about studying in Australia is staying within a budget. The cost of living in Australia is not exactly cheap, and if you don’t have the right management skills, things may slip off your control easily.
According to the Australian government, the minimum amount needed to cover the cost of living in Australia is AU $20,290 annually (excluding travelling to and from Australia and tuition fees).
For International students, accommodation and tuition fees are the highest spendings while studying in Australia.
If you are a student on a budget who is seeking how to save money while pursuing your studies, then here are a few helpful tips and tricks that may turn out to be beneficial for you.
1. Look for a part-time job
Australia is known for paying a living wage, not a minimum wage. This tip is quite helpful for students who are seeking casual work.
You can work as a waiter or barista to make a little spending money. If you want to try your luck in some other fields, you can talk to your university's resident director about it as they might have some good advice for you.
2. Plan out your budget
This is another important tip for students on a budget in Australia. Based on your income and expenses, plan out your budget. By keeping track of your finances, avoid spending over your budget.
Divide your expenses into ‘important’ and ‘unimportant’ items. For instance, paying accommodation fees for the campus is important, but eating junk food is unimportant. Don’t forget to save some money for an emergency.
If you go overboard, chances are you will land yourself into trouble. So instead of overspending, start saving!
3. Be Smart with Food and Grocery shopping
After accommodation, food expenses can’t be ignored. Luckily, you can reduce your bills by buying supermarket value foods.
Aldi, the German grocery store chain, is a popular option for students to buy vegetables and other items on weekly “Special Buys” that appear every Wednesday and Saturday.
You can buy discounted food and groceries from Aldi and save on your bills. Be smart and buy groceries to cook and eat at home. Buy in bulk from outlets like Aldi where prices are a lot cheaper.
4. Take advantage of Student discounts
Australia is a country full of amazing surprises for students. If you are studying in Australia with an ISIC card, you can make the most of your time.
You can even get student discounts at several shops and outlets. Wherever possible, make use of your student concessions.
5. Save on Transport
Travelling by public transport is a reliable and cheap way to move around the city. Most universities are either campus-based or city based with excellent public transport links.
Check if there are weekly/monthly passes available or student discounts available on transport services that you can regularly use.
6. Cheap student accommodation
If you are looking for cheap student accommodations in Melbourne or any part of Australia, or near your campus, consider student apartments and accommodations. This type of housing style lets you live near your campus.
You don’t have to worry about electricity, phone, gas, or furniture as everything is available. Some accommodation houses more than 300 students.
7. Look for pocket-friendly entertainment options
“All work no play makes Jack a dull boy.” This proverb stands true in the case of students as well. While social life at a university is great, but it is important to take time for some leisure activities as well.
Rather than going out on a weekend, plan for an outing on a weekday and enjoy cheap drinks and good food.
And if you are planning to go out for a movie, choose Tuesdays and Thursdays as you can access more discounts on these days.
It can be quite hard to save money while you are studying in Australia. But these tips can make you well-informed on how to spend wisely and save your money.
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