Getting by as a student can be tough, especially if you’re living out of home for the first time.
It’s not just the working and studying, there’s shopping, cooking, cleaning, laundry, and myriad other things that need to happen just to look after yourself. And that’s before you start managing your money.
So, let’s try to keep that as simple as possible.
Step 1: Creating A Uni Student Budget
First, you need to create a weekly budget for general living and Uni activities such as a meal plan, rego and text books. I know, boring, right? But it will make it much easier to get on top of your money, so you know you’ll be able to pay for those essential things.
Use the Greater budget calculator to work out your income and expenses so you know how much you have spare each week for spending on non-essentials and, hopefully, saving as well.
Use our Budget Calculator
We’ve laid out some easy steps for you to follow below, but if you’re ready to get hands on, take advantage of our online Budget Calculator and start your annual budget.
Step 2: Know Your Entitlements
You may be eligible for government assistance like Austudy, Abstudy or Youth Allowance that can help you make ends meet. Many students can also get concessions on public transport, while some businesses offer student discounts to anyone undertaking tertiary education, training or an apprenticeship so you can get a better deal.
Step 3: Plan Ahead By Finding Student Deals
There’s an app for everything these days. Use technology to find information about deals on accommodation, food, books or whatever. Take advantage of the time- and place-based discounts some retailers offer through various apps to save money on essential items.
Plan ahead so you can avoid the trap of spending money you don’t have on things you don’t need. That’s not to say, “don’t have any fun”, but dropping money on brunches, lunches and coffees can quickly add up. Save money by inviting friends over to your place for dinner instead of eating out. They may even return the favour down the track.
Sparkie
You’ll learn lots while you’re studying or training, not all of it to do with your chosen field. If you use these tips, you’ll also end up with some pretty good tools for managing your money.
