One of the most important things to consider before you actually move to Australia or even before selecting a University, is the living cost in Australia. Based on your location, the cost of your living may significantly increase or decrease. Here, we will try to give a rough idea about the living expenses, but you need to do your research online to find out what cost you will have to bear during the entire duration of your stay.
Approximate Cost of Living
On an average, a single person will have to have a backup of AUD 20k, for a couple or family you will need AUD 50k per year to just somehow live in Australia.
You must understand that cost can vary greatly depending on your location and food habits. This does not, by any means, include the incidental costs like sporting, social, or various other entertainment activities you may want to do. The cost will also include incidental medical fees that may not be covered by your health insurance or Overseas Student Health Cover(OSHC).
The major portion of the living cost will be taken by housing cost. Then you will have to pay the utility bills, etc. You can spend less money if you cook at home. If you decide to buy a vehicle, you will have to pay for the registration slip, pink slip, and many other things. There are cities where you can travel freely within the city.
Cost of Accommodation per week
Guesthouse / hostels: from AUD90 to 150 AUD per week.
Shared rooms: from AUD 85 to AUD 215 weekly.
Campus: from AUD 90 to AUD 280 each week.
Homestay: AUD 235 to AUD 325.
Rental: 165 AUD to 440 AUD.
Electricity and gas: AUD 35 to 140 AUD/week.
Food and grocery: AUd 80 to AUD 280/week.
Internet and phone: AUD 20 to AUD 55/week.
Train or bus: AUD 15 to AUD 55/week.
Personal car: AUD 150 to AUD 260/week.
Entertainment: AUD 80 to AUD 150/week.
You can do a few things if you want to save money.
Share your house with others. This way every household cost will be shared as well.
Keep a journal of your daily expenses. Review it every week to find out where you are leaking money.
Do not aimlessly loiter around the shopping districts. This will create unnecessary expenses. Never buy something you do not need.
Eat at home. Cook the food you eat. Keep it simple and healthy.
If you are shopping for groceries - find out deals. Compare pricing. Buy cheap or in volume to save money.
Try buying used items or secondhand items. You will be able to save money.
Always keep your eyes open for various offers and deals on phones or mobile plans.