MANAGING MONEY SUCCESSFULLY

INTRODUCTION

As an international student in Australia you will be the boss of your own life and this includes the important area of money management. The key to remember is that Australia is not very different from your home country financially speaking; although Australia will have its particular legislation in this area.

The cost of living in Australia is quite good compared to other developed economies and you can have a good time while you are here, but you will still have to keep to a strict budget because it can be difficult to find meaningful and well paid part-time work in Australia. So you will have to make sure you are well resourced before you enter into the country to start or continue you’re academic career.

Once again, like in your home country you will have to worry about the necessities of life and this includes keeping a roof over your head, electricity and power bills, food, and other expenses.

And like all international students studying at an Australian university you know that you have had to pay your tuition fees and medical insurance before you even arrived in the country.


AUSSIE BANK ACCOUNT

So, you will need to get an Australian bank account and you will be able to do this with just your passport when you first arrive, although you will have to give them an ‘Australian address’ after being in the country for six weeks. This will set you up electronically with the Australian financial system that is dominated by four major banks, although there are a bunch of other banks, and financial institutions you can join up with if you like.


AUSSIE BUDGET

You will need roughly 400AU a week to live comfortably, yet frugally while you are in Australia. But do not despair, Australia is a good country to be a poor student in because there are more festivals, freebies, local sporting competitions, and other community based ‘arty’ things than you can poke a stick at.  So you will have a ball lying on a beach eating your cut priced ‘sushi’ and trying not to drown in Australia’s notorious rips.

But if you are concerned about how you will go financially in Australia during the time of your study here then you are going to have to do some detailed research from your home country before you arrive. Australia has embassies in most countries throughout the world and has embassies in all German speaking countries in particular.

Also:
Your AA Education Agent will be invaluable in assisting with creating an ‘Aussie student budget’ and will gladly answer all of your financial queries about life in Australia. They will gladly assist you in a professional and courteous manner 24hrs a day electronically when you are first planning your Australian study experience and during your stay in the country they will be a source of consistent and friendly support.

So the keys to budgeting success in Australia are:

• Research before you arrive
• Make sure you are well resourced financially
• Create a sensible budget and stick to it

And:
Don’t be frightened to contact your AA Education Agent because they will be glad to answer all your queries.