Studying costs money

Learning doesn't stop when you close your books or put your tools down for the day. Learning how to afford to pay for your education is part of it. Get your money organised early so you have time and energy left over for your course.

Video: The costs of studying at university

The costs of studying at university video

Diana got herself into some financial trouble when she started full-time study at university.  Watch the video to see how she managed her budget to make sure she could afford to pay for her education.

Transcript: The costs of studying at university

What do you need to pay for?

Smart tip

You can save money if you buy longer-term train and bus tickets. They can also save you time buying tickets every time you travel.

Being a student can be expensive because there are so many things you may need to pay for: tuition fees; books and other learning materials; tools if you're an apprentice.

On top of your study costs, you may also have to pay for rent, mobile phone and utilities, petrol and car costs or public transport and childcare fees if you have children.

The costs associated with studying can seem endless. Even if you spend a modest $300 per week on all your expenses, that's more than $15,000 per year.

Video: Scott Pape's student money challenge

Video about living on a student income.

Take Scott Pape's money challenge to help you live on a student income.

Transcript: Scott Pape's student money challenge

Creating a budget

Take control of your money by doing a budget. Once you know your regular expenses, you can see how much is left over for the things you want such as a holiday, going out with friends, buying a car or just saving. If you are leaving home to study, you will have expenses you haven't had to think about before.

Our budget planner can help you calculate your weekly and monthly living expenses and see where your money is going. Remember to include any allowances.

Budget planner

 You can also track your spending using the TrackMySpend app.

TrackMySpend

And our savings goals calculator can motivate you to stick to your budget plans.

Savings goals calculator

Read our case study about Katie, a uni student who gets a reality check when she uses our budget planner.


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Last updated: 13 Jul 2016