Money matters
Studying at university can provide you with great academic and personal opportunities, in addition to some financial challenges. If you have moved away from home to study you may experience additional financial difficulties. All students need to meet expenses associated with studying, as well as daily living. This means living within a budget to ensure all of your expenses are covered. The aim of this guide is to give you some information about costs and possible sources of income associated with studying, help you to manage your finances and assist you to develop a budget.
Expenses
To begin with it is useful to think of your finances as being divided into two distinct areas - your educational/living expenses and your sources of income.
There are costs associated with enrolling and studying at University. The total cost will depend on the program you have enrolled in, the number of courses you are studying, whether you are enrolled as an internal or external student and if you are a local or international student. At the beginning of each academic year you will also need to purchase some stationery and books. Your highest costs are likely to occur in the first month of each academic year, but you will have some ongoing costs. Some costs associated with studying may include:
- Tuition Fees
- Books
- Computer equipment
- Field trips and placements
- Special materials (e.g. some programs like Art or Architecture require the purchase of additional materials)
- Stationery
- Transport
- Other expenses (e.g. photocopying, printing)
In addition to study related costs you also need to live. If you are living away from home, your most expensive living cost is likely to be your accommodation. You will also have a variety of other expenses like:
- Food
- Bills
- Transport
- Childcare
- Household and toiletries
- Clothing
- Entertainment
The following is an example of educational and living expenses for a first year student living in a share house and using public transport. Please note this is an example only and costs may vary significantly from one student to another, depending on their individual circumstances:
Weekly expenses -
- Accommodation = $120
- Clothing = $20
- Electricity/ gas/telephone = $20
- Entertainment = $15
- Food = $80
- Mobile telephone = $10
- Public transport = $15
- Educational $20
- Other = $10
Total weekly expenditure = $310
Income
Students usually have limited money while they are studying so it is important to consider all sources of income. You may receive money from one or more of the following sources:
- Centrelink
- Housing SA
- Bank loans
- Scholarships and grants
- Tax refund
- Paid employment (e.g. UniSA Career Services, Job Search, & CareerOne)
Budgeting
Most students need to live within a limited budget. However, if you are well prepared and plan ahead, you are more likely to manage better financially. To assist you to make a budget you can:
- Use the online guide provided by the Australian Government
- Access financial counselling through UnitingCare Wesley or UnitingCare Adelaide East
- If your money difficulties are impacting on your study you can see a Counsellor in the Learning and Teaching Unit
Other useful resources
- South Australian Community Legal Centre
- Scam watch
- Mobile phones: What to look out for when purchasing (PDF 506kb - opens in a new window. Download Adobe Acrobat)
- Talk about shopping (PDF 1.4mb - opens in a new window. Download Adobe Acrobat)
- Publications for consumer advice from the Office of Consumer and Business Affairs
- Payment of fees and appeals
If you require further assistance, please make an
appointment with a counsellor in the Learning and Teaching Unit on
your campus.
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