Living and studying in Australia can be an exciting experience, but it is important to have budgeted carefully for your time of stay in the country, with the knowledge that you will be able to live comfortably while studying and have the most enjoyable experience possible.

Australian migration laws require international students to show evidence that they are able to contribute and live to a certain standard when they start their study in Australia. This gives students the ability to focus on their studies and live less stressfully when it comes to handling their budget, while still experiencing the culture and what it has to offer.

International students are able to supplement their income in Australia with money earned through part-time work, but only if this does not effect their study hours, while also being able to meet all of the ‘living costs’ that eventuate from paying for food, accommodation and bills.

As of the 1st January 2010, Migration regulations on the basic rate of living costs, has increased. Below is a basic guide as to the amount of funds that all prospective students must acquire before applying for their student visa applications.
•    A$18,000 a year for the prospective student
•    A$6,300 a year for the student’s partner
•    A$3,600 a year for the student’s first child; and
•    A$2,700 a year for every child and where required.

These costs can vary considerably city to city depending on where you plan to live in Australia.

Once you have settled in the country and have acquainted yourself with your environment, it is helpful to budget according to your living standards as soon as possible. Take into consideration the costs of food, accommodation, transport, entertainment, clothing and travel costs. Sticking to a budget will help you know exactly where your money goes and be safe in the knowledge that you will have enough to live comfortably and stress-free.

Accommodation: There are many styles of accommodation in Australia but ‘Homestay’ accommodation can sometimes be the most affordable and safest alternative for international students. Meals are often included in the cost of boarding, and you can truly immerse yourself in the culture by living with a registered Australian family. Prices can range from $110 to $270 per week and single and shared rooms are available.

Food: There are many major town centres and cities in Australia with world-class shopping facilities. It can be cheaper to shop at major supermarket chains by checking out the discount food sections, but quite often than not, there are large farmers markets that produce fresh, local produce on a weekly basis and can have cheap fruit and vegetables readily available. Keep in mind it is cheaper to eat at home, but some major cities in Australia have a huge range of affordable restaurants that cater to the student clientele.

Transport: There are cheaper ‘concession’ rates for students when traveling on public transport in Australia. Once you have received your student card it is important to discuss with your campus or transport authority the best option for you when traveling by bus, tram or train. Many large cities have weekly and monthly concession rates, which can largely reduce your spending.

Entertainment: It is not necessary to spend a lot of money in Australia on entertainment. There are a variety of public festivals and concerts that are held for free in major cities, as Australia has a large and thriving Arts community across the board. There are many concession rates or cheap nights for movies, amusement parks and even bars that hold student nights with food and drink deals. There are plenty of public parks or National parks to walk and enjoy for free, or require a very small entrance fee.