step 1

Know your entitlements

Your time as a student is filled with expenses, so you’ll soon realise that any helping hand you can get isn’t to be sneezed at. The Australian Government provides assistance programs for a wide range of people undertaking tertiary education, training or apprenticeships. Be sure to check your eligibility to see whether you qualify for ABSTUDY, Austudy or Youth Allowance.

Even if you’re not eligible for Government Assistance, you should still be aware of the discounts many retailers provide nowadays to students bearing student concession cards. It may take some getting used to, but get into the habit of asking wherever you go whether a student discount is an option – travel providers, entertainment and retail outlets, even some pubs and bars offer concessions which can really add up.

step 2

Get the right banking products

One of the main worries many students face is that with all their new responsibilities, their ability to earn money may be limited. With that in mind, the decision on who to bank with becomes key.

Knowing your bank has your best interest at heart, and has a product and service offering to help make life easier and more affordable makes student life that much more bearable.

  1. Put your savings to work

    If you’re only able to work part-time or casual hours around your study schedule, every dollar you earn becomes important. What you need is an account designed with student needs in mind, giving you a fair go.

    The Greater Bank Life Saver Account rewards your good saving habits, topping up your balance with bonus interest when your savings grow in a given month.

    What’s more, by opening up a linked Ultimate Access Account, you’re able to enjoy fee-friendly banking. You can even open a Life Saver and Ultimate Access online in minutes.

    Open a Life Saver online

  2. Bank anywhere, anytime

    We get it – student life is hectic. Your schedule can change at a moment’s notice, and making plans to get to a bank or ATM can be difficult.

    So, it’s handy to know you can manage your money when and where it suits you with the right mobile banking app.

    At Greater Bank, we’ve put the branch in your back pocket – our App for iphone and Android devices lets you manage your accounts, transfer funds, open accounts and make product enquiries on the go.

    Learn more and Download our Mobile App

step 3

Set up and keep a budget

It’s common for Uni students to have little or no experience with budgeting by the time they start their tertiary education. Up until this point, most students have been living at home, with minimal expenses and possibly even no income. This is because they’ve been under their parents roof, often without casual or part-time work, and their needs have been taken care of.

Uni poses many new financial challenges, and it can seem a little overwhelming to budgeting beginners. What with all their student fees, textbooks, fuel, living expenses, plus any accommodation, it’s easy for your costs to seem out of control.

Do yourself a favour – take a quick budgeting refresher course and find out How to Set-Up a Budget in 4 easy steps, and take advantage of our handy Budgeting Tool.

step 4

Get Smart

There are certain things that are best learned individually, so you garner the life experience that accompanies the lesson.

And then there are things you should just be told because they’re damn helpful.

Making your student dollar stretch further will be easier with tips like these:

  1. Get online

    There’s no excuse for not having a smartphone these days, and the savings it can deliver to the connected student aren’t to be ignored. Whether you’re trying to find a flatmate, a cheap meal for Friday night, or some budget accommodation for a quick trip away, there’s an app for that…

  2. B(u)y the book

    Your text-books will be one of your biggest expenses each semester. If you’re not at least trying to find a second hand one on the cheap, you’re missing out. Check out your local campus bookshop, get onto ebay or GumTree and start bargain-hunting.

  3. Everything in moderation

    One of the easiest ways to save money is to avoid falling into expensive habits. Dining out instead of eating in, grabbing a skinny-cap every morning, and drinks with friends each and every weekend can quickly add up. Be on the look-out for cheaper and authentic alternatives and your bottom line will thank you.