How to save Australian money


How to save money as a student in Australia

We all know that being a student with limited finance can sometimes be challenging. However, with a little inventiveness, you can save significant money!

Here are some tips to help you spread your dollar further as an international student living in Australia:

  • Try shopping at low-cost outlets i.e. Auldi shopping store; DFO (Direct Factory Outlet);
  • Buy your fruit and vegetables at a local grower’s market instead of the supermarket.
  • Live in a shared house or unit so you can spread the cost of living with others.
  • Get a prepaid mobile service so you can control your call costs.
  • Use SMS messaging instead of calling friends.
  • Access a VOIP communication system at your local education institution to make free or low-cost calls.
  • Avoid paying full cost on items that you can buy cheaply online (i.e. clothes, toiletries, books etc).
  • Send free SMS messages over the internet (just Google “free SMS”).
  • Read online magazines for free instead of buying a magazine.
  • See a movie on Tuesday (as it’s usually half-price).
  • Use E-bay to source cheap technology devices like TVs, IPods and stereo systems.
  • Try growing your own vegetables if you have access to a garden. (Note: be sure to seek permission from the landlord first!)
  • Try making a prepared meal that lasts for many days (i.e. if stored in the fridge or freezer). This practice of bulk-preparing foods cuts down on preparation time, ensures you eat nutritious home-made cooking and cuts the cost of eating. Ideal pre-prepared meals include: pizza, lasagna, rice dishes and vegetable soup.
  • Avoid overdraft charges by insuring you always have money in your savings account. Otherwise, you could be charged $35 or more every time you overdraft your account.
  • Buy your shoes and clothes during the retail sales period. This occurs in January and June every year.
  • Try to be more inventive with your fashion. Instead of buying a completely different outfit each season, buy basic items like a pair of jeans, a classic jacket, black skirt and several different coloured tops. You can then add a cheap fashion accessory like a scarf, broach or new handbag to update your look for each new season.
  • Look at charity opportunity stores for one-off fashion items or cool vintage clothing. Often you can find bargain or second-hand designer items in these stores for less than $10 or $20! You just need to look at these stores regularly.
  • Don’t waste money on shopping therapy! Stick to a budget by withdrawing a set-amount once a week only. You must only use these funds and not go over. If you feel like buying things, go to market where they sell plenty of inexpensive items to satisfy your shopping impulse!
  • Barter with friends! You can barter your tutoring service for a dinner or drinks, swap outfits with friends, or barter a dinner for a free movie!

However you decide to save money, be ensure to have fun with the concept! You could even set yourself a quest in seeing how far you can stretch $100 a week.

You could further challenge your friends by seeing who can save the most money each week. But most of all, don’t let any cost saving exercise interfere with your studies. You should enjoy your studies and these cost-saving strategies!