Planning your budget when moving to Australia is imperative. This will not only help you understand your spending capacity, but make a sensible decision regarding your overseas studies. Before you make a decision to enrol as an International Student, I’d suggest you take a moment to draw the budget. In this post, I will breakdown the monthly average spend for an International Student in Australia.
Keep in mind this is an average. The numbers may vary depending on your lifestyle and services / products you opt for. Also, since I live in Sydney, this information is based on living cost here. Sydney is known for its high cost of living compared to other states.
In my experience, major proportion of the living cost is attributed to rent. The monthly rent actually depends on the type of place you rent. Whilst a studio or one bedroom apartment could be between $350.00 to $400.00 per week, most students prefer shared accommodation for its reasonable pricing. On average student accommodation will cost $250.00 a week. Try to find accommodations with bills included, so you can budget exactly how much rent you will incur.
Refer to our How to find cheap accomodation article to learn more about saving $$ on rent.
Unfortunately, International Students in Sydney are not eligible for concessions on public transport. If you do not live in walking proximity to the University, you may incur an average of $40.00 a week for travel. Other states like Victoria where the students are fortunate to receive travel concessions, will incur an average weekly cost of $20.00.
Tip: Learn to use public transport to your advantage to help you save on unnecessary spending.
It is hard to put a finger on the average spending because it depends on the course, level of study and University. Due to work restrictions for International Students it is not easy to find the money to pay for tuition through a part-time job right away. I’d recommend you have tuition fees for at least the first three semesters in-hand prior to arriving in Australia.
This shouldn’t be a problem because you will most likely have paid for Overseas Student Health Cover (OSHC) prior to arriving in Australia as a part of the Student Visa process. On average OSHC will be around $500.00 per year. For day to day medical expenses, OSHC cover mostly consultation for general practitioners and proportion of prescribed medicine. You can compare different OSHC covers through this website to understand what is suitable for you depending on your medical needs.
Groceries and food
It goes without saying, cooking at home is way cheaper than eating out. For example, a coffee from the local cafe would be around $3.20; you do the math if you plan to have a coffee everyday.
If you are living by yourself groceries will not cost a lot. You can go for house-brands, which are relatively healthy. I am pretty generous when comes to groceries, because I am happy when my tummy is happy. For a person like me, $40.00 a week is more than sufficient.
You can check out our Heathy Study Snacks post to get some ideas on healthy, tasty and cheap snack ideas.
Mobile and internet
This is obviously an essential but is not very expensive. You can find a prepaid sim for $30.00 per month with Unlimited National Calls / Text and few gigs of data from providers such as Optus and Vodafone.
Most student accommodation comes with free WiFi, so definitely is not something to worry about. In the rare chance you are need to have your own internet connectivity, TPG offer unlimited downloads on high speed internet connection for around $60.00 per month.
This expense is subjective depending on your lifestyle. As students, you are able to receive student concessions at the movies, adventure parks, etc. If you are part of University clubs and societies, you will receive special discounts at certain stores. Alcohol is expensive in Australia, a night out could cost you up to $70.00. Always look out for weekday specials and student discounts for cost-effective options. On average, I would say up to $30.00 a week is a reasonable estimate.
Weekly cost for a student would add up to:
- Accommodation – $250.00
- Transportation – $40.00
- Tuition fees – Depends
- Medical expenses – Depends
- Groceries and food – $40.00
- Mobile and internet – $10.00
- Entertainment – $30.00
What are your thoughts on this analysis? What other expenses would an International Student incur?