If you are an international student in Australia and wondering how to save money while schooling, you are not alone. Between accommodation, tuition fees, food, and more, there is no denying that the cost of living in Australia can be rather hard to keep up with. But, this doesn’t mean you can’t save money during your stay in Australia.
There are many advantages of saving money for international students in Australia – not only will you avoid going through financial stresses, but you can also live more comfortably with extra money that you can spend on exploring the different states of Australia during your semester breaks.
We know how expenses can add up quickly once you have eased into your student life, so here are five clever tips to save money as a student living in Australia.
One of the most effective ways to save money as a student is to try to cook as much as possible instead of eating out or ordering in. When shopping for groceries, you can try heading to Asian, Mediterranean, or Middle Eastern supermarkets as they tend to have more varieties that you may be more comfortable cooking. Alternatively, you can also shop at discount supermarkets like Costco or Aldi if you go grocery shopping with a few of your housemates – it is cheaper for bulk buying.
If you’d like to buy fresh, affordable produce whilst supporting local farmers, you can consider heading to your nearby local market. There, you can sometimes find incredible bargains on the freshest produce. However, you should also keep in mind the produce in season or foods that are rising in price.
Even when saving money as a student, you do not always have to coop yourself at home and cook. You can also choose to be smart about when and where you eat out. For instance, your campus can sometimes be a great place to start since there might be events where food is provided. You may also get to enjoy student specials or receive student discount codes when eating around campus. Additionally, some student accommodations in Australia, like Y Suites, also hold regular bonding events and communal dining where food is sometimes provided.
Many Australian restaurants or pubs also offer bargain meal discounts and promotions on particular nights of the week, so be sure to keep an eye out for them!
Like all banks, the ones in Australia also offer an interest rate when you put your money into a savings account. The interest rates can help your money grow over time. Instead of rushing to put your money into any account, we recommend shopping around to check the different fees involved. You’d want to avoid paying more in fees than the amount you gain in interest.
For a student, the biggest thing to watch out for when opening a student bank account is to select one that offers an interest-free overdraft. While it may not seem like much at the time of opening the account, this reliable aspect makes for a good backup if you have worked up sudden and unexpected costs. Learn more about how to open a student bank account in Australia here!
Do not rush into buying textbooks; not every textbook on your book list is necessary, so it’s best to wait awhile, at least till you have gone for your first lecture to find out if you will be tested on your textbook texts. Most universities also have a process for students to buy and sell used textbooks. Alternatively, you can buy secondhand ones from your seniors.
Other options would be to obtain your textbooks online or to purchase e-textbooks at a lower price.
If you decide to forgo living within your university, you can opt for affordable student apartments in the city. Many providers either offer special deals or discounts for students. For instance, Y Suites is currently running its 2023 Semester 1 Early Bird promotion across its apartments in Adelaide and Melbourne.
If you are a prospective student at RMIT University, The University of Melbourne, Victoria University, or the Australian Catholic University, you should consider Y Suites on A’Beckett for cheap apartments for rent. Putting you closer to famous Melbourne landmarks like Queen Victoria Market, Chinatown, and Melbourne Central railway station, you’ll never run out of activities to do on weekends and after school! It is also located within the Free Tram Zone, making your journey around the city much easier and more convenient. Plus, you’ll also save lots of money when you commute within the Free Tram Zone.
You might want to consider Y Suites on Waymouth as your apartment of choice for students in Adelaide. Offering cheap apartments for rent in the heart of the city centre, you’ll never run out of food options! Adelaide’s newest student accommodation has everything you need to make the most out of your school years, from late-night hotpot joints to bubble tea galore.
In addition to opting for cheap student accommodations to live in, it is also vital to do budgeting regularly. While this is something we are all familiar with, often, this is not something that many are good at. As a student, a big part of your income comes from your parents, part-time jobs, or even your savings. In the long run, this amount of money may not be sustainable in paying off your rent, bills, travel, entertainment, and study-related expenses. Thus, it is best to plan what you can afford to avoid suffering the consequences of overspending. Even though it may seem challenging at first, with the money you’ve saved, you now have extra to reward yourself from time to time!
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