It can be difficult to maintain a budget while studying abroad. Aside from covering tuition and accommodation costs, you also have to fend for such costs as food, communication, having sightseeing trips, etc. If you are worried about how to maintain your bank balance during your studies, refer to these money saving tips.
1. Create your budget plan
Plan out your budget each week, fortnight or month. You can split your expenses into ‘essential’ (e.g. accommodation fees) and ‘non-essential’ items (e.g. seeing a movies with friends). Don’t forget to set aside a little bit of money in case of emergency.
2. Keep an eye out for items on sale
If you notice non-perishable food items or household supplies are on sales, why not stock up on them? Still, be careful not to buy things that you don’t need or buy too much and let it all go to waste.
3. Look for weekly specials
Consider hanging out during the week. Restaurants and bars often have inexpensive food and drink specials on weeknights.
4. Look for part-time work
One of wonderful things about studying in Australia is that international students in Australia on student visas can work up to 40 hours per fortnight during their study period, and there is no limit on the number of hours an overseas student can work during holiday periods from their study. Working while your study not only helps you to pay for your living expenses but also gives you the opportunity to practise your English skills.
5. Utilize your student card
Utilize student concessions wherever possible – whether it is at the retail stores, the bank, events, sports games, or movies. Though these discounts may only save you a few dollars, it all adds up!
6. Be flexible
If you find yourself spending too much money on petrol or public transport, then consider walking or riding a bike to ‘not-too-far’ destinations. This way will be good not only for your wallet but also your health and the environment. In addition, you can enjoy the air, the sunlight and everything around you while walking or riding.
7. Look for cheaper options
One of the easies ways to save money is to look for cheaper options. For example, instead of eating out in a restaurant, you can cook your own feast at your friend’s house. Instead of going to the cinema, why not grab some popcorn and watch movie at home with your friends.
8. Pre-pack your lunch
Making yourself lunch in the morning instead of buying it every day will save you big bucks each week. You can bring the leftovers from the previous night’s dinner or make something simple like sandwiches.
9. Utilize second-hand options
Another budgeting tip is to look for second-hand options, from textbooks, electronics, clothes to furniture. You can do shopping at markets and second-hand stories, online on websites (eBay, Gumtree, Student Bees, etc.) or social media forums.
10. Help your landlord
If you are living with your landlord, do not be afraid to ask them for discounts if you are willing to do some housework for them.
11. Sell some stuff you never use and/ or no long need
Have you ever had things that you buy but never wear or use? If yes, sell them. Don’t wait until they get old. Also, sell your old books and anything else you no longer need.
12. Share accommodation
The advantage of this way is better quality accommodation in a better location, for less living costs. You may find share-accommodation through the student portals, notice boards or websites specific to finding room mates.
13. Speak to our advisers
Our staff at Scots English College are friendly and willing to give personal support – for example, finding homestay and other forms of accommodation, finding a part-time job, welfare counselling, a 24-hour emergency contact, etc.
For further information about our student support, please access here.
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