Supporting yourself while you're studying can be a real challenge, and if you don't want to graduate up to your neck in debt, budgeting is the key. Calculate upfront what expenses you're likely to face and you'll have spare cash for the fun stuff. Plan ahead too. If you want to get away for the holidays or the car rego's looming, put a few dollars aside each week. It's easier than scrounging around trying to find the whole amount at the last minute. Our Student Budget Calculator works it all out for you - just jot down your estimated weekly expenses then click here.
University can be a social irony. You'll have lots of opportunities to go out and mix with new people, but your social budget will be tighter than ever. If you don't want to live a hand-to-mouth existence, here's some tips to help you manage your cash and still have some fun getting fit, getting styled-up, getting out and getting acquainted.
Fitness
Style
Going out
Heading out
Some expenses hit you in slow motion. Every semester, you know they're coming and you ignore them. And then they're on top of you. Textbooks are of one of those expenses and you can't really put them off.
It's unrealistic to say that you should have all the money for textbooks "ready" at the start of each semester, because the reality is that textbooks are a financial hurdle for most students. However, it's fair to say that if you have put some cash aside in anticipation of buying textbooks, you may be able to snap up a bargain. With second-hand textbooks, the early bird gets the worm. So, if you're quick, you might avoid the cost of buying all your books brand new. Here's how:
Other tips on making the most of your money while you're at uni
Save on hairdressers. Get a hair-cut on a student training night and it won't cost you a cent. Or if it does, it will be a fraction of the normal cost. Students are supervised by a professional, so you won't end up with a pineapple head! Ask beauticians about student training nights for waxing too for a frugal fuzz free look.
Sales. If you need new clothes, wait for the sales, try e-bay, visit the factory outlet or explore your local markets. Why pay full price if a little patience rewards you with a big saving?
Budget travel accommodation. If you like travel on the cheap, look into a Youth Hostel membership. From $37 a year, you can get cheap accommodation in some amazing places. Even cheaper, offer to house-sit for the summer, preferably near the beach! Offer to take care of other peoples' cats and dogs (while they're on holiday) in return for little or no rent. Maybe they'll fill the fridge with your favourite food.
Don't be afraid to ask! Always, always ask when you're parting with money if there's a student discount - and keep your student card on you at all times.
Buy in-season fruit and veggies. It sounds trivial but if you buy produce in-season, it tastes better, the vitamin content will be higher and it's cheaper.
Use the bulletin board! They're great for more than just textbooks. Bulletin boards are a great way to keep your ear to the ground on all sorts of things. For example, you might also find a bargain on a second-hand fridge, furniture or a TV.
Don't shop hungry. If you go grocery shopping when you're hungry, you'll buy more than you need. Really. You will.
Use your own bank's ATMs. This will normally save you from paying other bank ATM fees.
Do a basic budget. If creating a budget sounds all too hard, use our Student Budget Calculator. In three simple steps you'll see where saving a few dollars here and there can make a difference.
Set your limits. Having a credit card limit of $1,000 doesn't mean you have to spend it. If you can only afford to pay back $200 then just spend that.
Good food, good relations. Eat at Mum and Dad's!
Stash. BIG expenses always loom. Holidays? Car rego? Textbooks? Fees? If you ignore them until the day they're due, you'll end up scrounging and borrowing money, which sucks. Put a few dollars aside each week or set up a regular savings plan. It's a habit that's easier than scrounging and will save you from the stress of digging yourself out of a financial hole.
Cut the chat. Keep an eye on mobile phone spending. A pre-paid account means you'll never get landed with an unexpected bill. It can also be better value.
Go public transport. Your student card gives you good discounts on public transport. Make the most of it. Workers don't get the same discounts until they retire!