Managing your finances as a student in Australia doesn't have to be overwhelming – with a little planning and organisation, you can stretch your budget further and achieve your financial goals. Here are a few of our top tips to help you get started:
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1. Create a budget: To create a budget, you'll first need to figure out how much money you have coming in. This may include income from a part-time job or picking up Sven shifts, government aid and assistance (such as Youth Allowance or Austudy), or any other sources of income. Next, list your fixed expenses (such as rent and utilities) and variable expenses (such as groceries and entertainment). This will help you see where your money is going and identify areas where you can cut back or save.
2. Look for ways to save money: As a student in Australia, you can save money. Some options include taking advantage of student discounts, cooking at home instead of eating out, buying second-hand items, and using student discount apps. We highly recommend finding student discounts on specific apps and websites like UNiDAYS, Student Beans, and ISIC for more options. These are absolutely fantastic and one of the best ways to save money as a student!
3. Use a student bank account: Many banks in Australia offer special student accounts with perks like fee-free banking and discounts on credit cards. Consider opening a student bank account to take advantage of these benefits.
4. Seek financial assistance: If you are struggling to make ends meet, resources are available to help you out. The Australian government offers financial assistance for students in the form of grants, loans, and scholarships. You can also seek out financial assistance from your university or other organisations. Some options may include hardship funds, emergency loans, or bursaries.
5. Most importantly… pick up shifts with Sven! Offset the stress of those rising costs with a little extra cash in your pocket without the commitment. Download the Sven Jobs app today!
The ultimate way to save money is to make money. Sven Jobs is an app powered by technology that matches workers with job providers based on their skills, experience, location, and availability. Did we mention it's entirely FREE for workers!
It will allow you to match with jobs based on your university schedule. You can pick up shifts and get paid instantly if you have some extra time between exams or assignments or perhaps over the mid-semester break. Sven pays all your shifts in one weekly payment and automatically calculates rates, breaks and allowances based on modern awards and other legal requirements. We developed Sven so that you can join and apply for shifts in minutes. We work for you so that you can swap out the cringe CV updates and in-person interviews for a seamless online experience.
Sven is available in New South Wales and Victoria, Australia, for the restaurant, hospitality and fast-food industries. Sven Jobs will expand to the rest of Australia, and more industries, in 2023.
You can download the Sven Jobs app on the App store and Google Play store or jump on the waiting list for all other states and territories at https://www.svenjobs.com.au/.
By following these tips and seeking out resources and assistance when needed, you can effectively manage your finances as a student in Australia and strive towards your financial goals. It may take some effort and organisation, but with a little bit of planning, you can succeed both financially and academically. So get out there and start saving!
