Budgeting

There are many ways you can work out how to live on a student budget. Firstly, make a list of everything you currently spend your money on. You can do it based on your spending each week, fortnight or month. This list should give you an idea of where your dollars go and it may also give you some ideas on where you can save.

Here at Student Assist we can look at your budget with you and see which areas you are able to save in. Remember, cutting out one coffee per day could save you $1530 per year! Sounds like the price of a holiday or a flight somewhere exotic. Try to bring your own lunches to uni whenever you can and save the coffees for a once or twice weekly treat.

The MoneySmart Budget Planner, produced by the Australian Securities and Investments Commission, provides an excellent online budget calculator which is quite comprehensive for students.

Use the MoneySmart Budget Planner
For further advice on budgeting and reducing your expenses, check out the UWA Financial Aid Office’s useful tips:

Visit the UWA Financial Aid Website

FREE, CONFIDENTIAL AND INDEPENDENT FINANCIAL INFORMATION

If you are experiencing financial difficulties and would like to receive free independent financial counselling, you can contact The Financial Counsellors Association of Western Australia on 1800 889 364 (free call) or (+61 8) 9325 1617.

Visit the Financial Counsellors Association Website

CENTRELINK

Tips:

  • If in doubt about your eligibility for receiving student financial assistance, contact Centrelink to check eligibility.
  • Payments are made to the date of the form being sent to you or your date of lodgement – it’s not back-paid to the commencement of study so you should get your forms in as soon as possible.
  • Keep a copy of everything you lodge with Centrelink and get receipt numbers with every interaction.
  • Tell Centrelink within 14 days if any of your circumstances change.
  • Keep Centrelink aware of any changes that may happen to your financial status whilst studying – you don’t want to receive a bill for the extra payments you received whilst studying at the end of your studies.

For more information check out UWA’s Guide to Dealing with Centrelink

If you feel that you need some help in a matter like this, contact Student Assist at assist@guild.uwa.edu.au or via their online form.



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