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.

What do you need to pay for?

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: 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

Create a budget and track your spending

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.

See how much you are spending and how much you can save.

Budget planner

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

Keeping track of your spending will help you calculate your weekly and monthly living expenses and see where your money is going. Remember to include any allowances.

See how much you are spending and how much you can save.

TrackMySpend

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: 22 Feb 2017