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
If you buy textbooks online, chances are you will need a credit
or debit card. Look around for the best deals on a credit or debit
cards before you get one.
- 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 year.
- 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.
Money saving tips for
students on Facebook
Our Facebook page has great tips from our community about moving
out of home and how to save money when you are a student.
Last updated: 29 Jul 2016