Organising your finances on a limited student budget can be a challenge, particularly if you are planning to move out of home for the first time or giving up work to undertake your studies.
It's important that you have an understanding of how to manage your money and finances. Book an appointment with Student Assist for money questions about Centrelink, university fees, debts, bills, loans, budgeting, planning or any other money management issues.
Spend less time worrying about your bank balance and more time thinking about your studies.
- Do your budget. What is your income and fixed expenses (rent, utilities, phone, car payment)? Calculate how much you need each week for living expenses (fuel, food, clothes, entertainment).
- Set up as many direct debits and bill payments as you can! Automatic payments means you will never be late.
- Cash is king. The best way to stop spending is to carry your weekly living expenses in cash. It is harder to part with the cash in your wallet. As money leaves your hands you will think more about what you really need.
- We spend what is readily available to us. Setting up a second bank account that does not have a keycard attached to it is a good way to remove our money from easy reach.
Quick Assist Video: Budgeting as a Student
Quick Assist Video: Handy Finance Resources
The MoneySmart is a Federal Government website that has free tools, tips and guidance on how to take control of your money including:
- Managing your money,
- Reducing your debt
- Planning for your future
- Growing your wealth
Along with lots of useful tools, calculators and resources.
Tax and Superannuation
It's important to know your rights and responsibilities when it comes to tax requirements and superannuation (super).
Contact Wageline if you need help resolving an individual issue of underpayment of wages or employment entitlements.
Phone: 1300 655 266
Visit the website