Save Money: Tips for International Students in Australia

Going to a new place, especially if it’s a new country, is an exciting experience for many students. Thus, it is not unusual for students to splurge on traveling, eating in local restaurants, and experiencing the night life during the early days of their stay. However, studying abroad costs a lot, and it will be a nightmare to exhaust all your extra money early on in your first months of studying abroad. Thus, it is wiser to save money. 

There are many ways that students can save money while still having a great time in Australia. 

Avail of Discount Cards or Apply for Transport Concession 

Students planning to go around the country can still do this, but at a lower price when they avail of discount cards being offered by various transportation companies, or apply for a public transport concession. In fact, many public transport organizations provide their cardholders certain benefits such as discounts during off-peak hours or during weekends, some even offer free travel to users who have taken a specific number of rides. Some parts of Australia, like Victoria, Canberra, New South Wales, Northern Territory, Queensland, Victoria, and South Australia, offer students, public transport concessions to avail of public transportation discounts, specific for students. 

Another discount card that international students can avail is an International Student Identity Card (ISIC). This card makes them eligible for discounts in accommodation, transportation, eating in restaurants, shopping, apps and services for studying, and even entertainment. 

Cook Your Own Food 

Eating out at some local restaurants is a fun way to learn more about a country’s local culture. However, it should not be done on a regular basis—and it is expensive to eat at restaurants in Australia. 

As much as possible, students should buy their own ingredients and cook their own food, especially if they are renting out, or staying in an accommodation where they can cook. To save more, shop at supermarkets on a Friday to buy ingredients at a “reduced” price. 

Set-up a Bank Account

Setting up a bank account in Australia offers students convenience and the opportunity to save money efficiently. This is most useful to students who will study in Australia for more than a year or those who have plans of taking part-time jobs. Some accounts, such as a student account, offer a feature that lets students withdraw or deposit their money without any transaction fee. Moreover, some accounts, such as a savings account, allow students to earn interest from their account balance. 

Create a Budget Plan, Track Your Spending, and Stick to It

Creating a budget, tracking, and sticking to it is another way to save money. Many people don’t notice it, but small expenses are usually the reason some people overspend.  

However, if you know where your money is going, it is easier to check your money spending pattern and notice unnecessary spending. Moreover, once done with your budget plan, stick to it. This will also ensure you have extra money to do enjoyable activities like traveling, hanging out with your friends, and even shopping. 

Want to know the reason why Australia is a popular study destination? Check out MSM Unify’s article on this topic to learn more.