How to Save Money While Studying in Australia

Between tuition fees, accommodation and food, the cost of studying in Australia can quickly add up, but there are ways to save even while enjoying the social activities and adventures associated with student life.

If you’re an overseas student looking to make the most of your study opportunity, here are the best ways to save money while studying in Australia.

Create a budget

The thing about studying is, money is often tight. Even students who are working often have limited funds and the money that’s available needs to be stretched across necessary and discretionary weekly expenses.

That makes budgeting an essential skill. Write down all the expenses you have each week, including necessities such as tuition fees, accommodation costs, and any other fixed expenses.

Then, add in average weekly food costs and travel expenses. After that, turn your attention to your discretionary budget, as in the non-essential items that you tend to spend money on each week, such as entertainment and clothing.

Try to allocate fixed amounts to each of these variable areas, then the money you have left over can be put aside for saving for things like travel, a holiday or special activity.

Track your expenses

In addition to creating a budget, take the time to track your expenses each week. It’s surprising how much of your weekly budget can disappear in dribs and drabs on small things that add up.

If you identify this financial leak, you can either budget for it or reduce it.

Cook at home

Your weekly food and dining out bill is an area where there’s potential to really cut costs (without sacrificing your health or tasty meals).

Where possible, take the time to meal plan, prior to doing your grocery shop. Take advantage of food items on special, and cook in bulk when you can.

Rather than grabbing food at your local cafe in your study lunch break, try to pre-prepare a sandwich or meal and take it with you to school, and really limit the amount you eat out each week.

Seek out deals and specials

Whether it’s student deals, weekly grocery specials, or dining and entertainment promotions, seek out deals and specials that help cut costs.

Maybe it’s a two-for-one deal at a local restaurant that you can split with a friend, or perhaps it’s a weekday movie session that’s half the price of Friday and Saturday night.

Even small savings soon add up, allowing you to still enjoy the occasional treat but without breaking the bank.

Embrace recycled and reused

Recycled and reused items aren’t just more affordable, they are often better for the environment as well.

From preloved textbooks, to clothing and furniture, there are a wealth of recycled items available from opportunity shops and second hand stores.

Wondering about study costs?

Wondering how much it costs to study in Australia? We have a guide for planning your trip here. Meanwhile, the Australian Government has a cost calculator.

If you’re ready to embark on a study adventure in Australia, you can learn more about the English courses, or start narrowing down qualifications that lead to jobs that are in demand.