Let’s get straight to the point, living in Sydney, Australia isn’t cheap. The cost of living in Sydney is higher compared to regional areas in Australia. This is normal seeing as Sydney is one of the most visited and popular cities in the world. The city is a major dynamic cultural hub, a multicultural melting pot, and is home to beautiful beaches, historical museums, galleries, theatres, and festivals.
Being such an attractive and popular city will drive prices up. Needless to say, if you don’t have a financial plan and are not frugal, you run the risk of losing control of your finances very quickly. The cost of living in Australia for international students is around $21,041 per year, with accommodation and tuition fees being the highest spending. However, as expensive as things can get in Sydney, you can definitely live on a budget without sacrificing fun, excitement and exploration. Here’s how:
WORK PART-TIME
This is a huge attraction for most international students seeking to study in Sydney or Australia as a whole. Australia is known for allowing international students to work part-time while studying in the country. And according to Fair Work Ombudsman, all employees, part-time or full-time, must be paid a minimum//living wage which currently sits at $21.38 per hour or $812.60 per week.
International students are only allowed to work 40 hours per fortnight. However, in a recent announcement, the Australian Government stated that until 30 June 2023, all international students are able to work more than 40 hours a fortnight in any sector of the economy and work before their course of study commences.
If you’re looking for a part-time job, here are the best 9 part-time jobs for international students in Australia.
SET A BUDGET AND STICK TO IT
One major reason students run out of money faster than they receive it is that they don’t have a budget. It may sound like cliche advice, but this is crucial, don’t spend more than you make. Set a budget based on your income and your expenses, and plan your week or month out in advance.
Your budget should be divided into your needs and wants. Your needs are essential things/items you must budget for, like school tuition. On the other hand, your wants could be eating out and that will cost you more than a home-cooked meal will. Don’t forget to save money for emergencies.
It is absolutely crucial you start off on the right foot, so stick to your budget. And if you can save more than you spend, go for it.
USE STUDENT DISCOUNTS
There is a reason Sydney is called one of the best student-friendly cities in the world. There are many student discounts for local and international students in Australia. For example, Apple continually offers discounts to students in Australia on all their products including MacBooks, iPads and iPhones. Students also get public transportation discounts when riding the bus or taking the train.
Additionally, various shopping malls, cafes or restaurants offer discounts to international students. This is a great avenue for you to save those extra pennies and though it may not seem like much, when you count all the money you’ve saved through discounts at the end of the month, you’ll be surprised.
FIND CHEAP STUDENT ACCOMMODATION
You might be asking yourself, “how can I find cheap student accommodation in a city that is expensive? Isn’t that contradictory?”. No, it isn’t. While Sydney may be expensive, there are still plenty of accommodation options that won’t break the bank.
There are various student-friendly suburbs located within Sydney that are affordable, and culturally diverse. Before you write them off as boring, you’ll be glad to know that these suburbs house plenty of cafes, bars, restaurants, and entertainment options for international students to enjoy. Some of these suburbs are Burwood (near our SIC campus), Strathfield, Parramatta, Campsie, Rockdale, and Kograh.
GET A ROOMMATE
Getting a roommate is part of the college experience. It’s almost like a rite of passage for many international students and it has numerous benefits. Living with someone can enhance your social skills, reduce feelings of homesickness and possibly create lifelong and memorable friendships.
But another big reason you should get a roommate is to split expenses. If you have enough space, an extra room or bed in your dorm, you can rent it out to someone else. Sharing your living area might be tough if you like having your own space but if you find the right person, it’s a decision you won’t regret. Having a roommate means sharing the utility bills, rent, repairs, and maybe even other expenses like common supplies and food.
ARE YOU LIVING ON A BUDGET?
It can be quite difficult trying to save money while studying in Sydney. However, it’s difficult but not impossible. One final tip before you go; look for scholarship opportunities to save money on tuition. And spend less on entertainment options, try going out during the weekdays rather than weekends when things are more expensive.
With the right discipline and by following the tips we’ve listed above, you can live and study in Sydney without ever going broke. It all comes down to planning and spending wisely. Remember that if you fail to plan, you’re planning to fail.