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Budgeting

Updated on Thursday 13 September 2007

Managing your finances is one of the most important and challenging aspects of a successful and enjoyable academic experience. Dealing with a new currency and cost of living are the beginning of the challenge. When you are admitted to an Australian institution, take a close look at the budget you prepared for yourself based on estimated expenses.

Use this list to help you think about all the possible expenses you may have:

Expenses
Tuition
Fees
Rent
Meals (Board)
Health Insurance
Books
Transportation
 Communications
Clothes
Personal Expenses
Family Expenses
Recreation
Travel
Taxes



The estimates provided by your school (if you do not have an estimate of living costs from your school - ask them for one!) are usually accurate, and international students are expected to have funds to cover the full amount shown. It is normally not possible to arrange for more financial aid once you arrive at an institution. If you are a graduate student and are awarded an assistantship, be sure you understand what it will include and what you will be expected to pay form your own pocket. If you will receive a scholarship or fellowship, determine ahead of time what portion of taxable and include the necessary taxes in your budget.