Living on a student budget
Here are some valuable tips that will help you save a few
dollars when living on a tight student budget.
How to save money
- Find a savings account with low fees - Shop
around to find the best savings account for you.
- Get a cheaper credit card - Choose a credit
card with a low interest rate.
- Cut down your ATM charges - Check which ATMs
your bank allows you to use for free.
- Try internet banking - Consider internet
banking to pay bills or transfer money if your bank charges
less for this compared to other transactions.
- Set up a direct debit - Set up direct debits
for your bills once you know roughly how much is going to be taken
out. This is an easier and cheaper way of paying, but make sure you
always have enough money in your account before the bill is due. If
you don't have enough money in your account, you could be charged
overdrawn fees or default on a payment.
- Smooth your bills - Bill
smoothing can help you deal with those big bills over the
- University campus rooms - Staying on campus
can be cheaper because utility bills (such as internet, heating,
electricity and water) may be included in the costs.
- Homestay - It might be cheaper to board with a
family or couple. A homestay could include meals and services such
as phone, internet and utilities.
- Compare different travel options - When you
are budgeting for transport to university, compare the costs of
travel by bus, ferry, train, bike or car. Get a student travel card
or try car pooling with other students.
Finding a part-time job
Decide how many hours you can realistically work while you are
studying. Don't take on more hours of work than you can cope with.
Find out how many lectures and hours of study you will have to do
each week. Then you can work out how much paid work you will be
able to do and when you can do it.
If you're looking for work while studying:
- Ask at your university student services or students'
- Register with local employment agencies.
- Look out for advertisements on noticeboards on campus and in
- Search online job websites.
- Ask around as other students may know of local jobs.
- Be careful about working in your final year, as you will have
to study more. Save money to prepare for this.
But be wary of employment scams. For more information see the ACCC's SCAMwatch website.
Find out more about starting a job.
Last updated: 21 Nov 2018