Australia has the highest minimum wage in the world. But when you're a student, it's important to be very organized financially and to know how to save money at the right times. Therefore, knowing how to save money is a must in an exchange student's life, especially after the pandemic.
From gasoline to everyday foodstuffs, the price of inputs has risen in Australia, as it has in many countries around the world. Australian inflation stands at around 5.1% but could rise to as much as 7% by the end of 2022, according to the Reserve Bank. Therefore, saving will be one of the keys to the success of your exchange.
And if you don't know how to start saving money, don't worry. We at Good Day Education have put together 5 unmissable tips to help you save money during your exchange in Australia. Check them out:
1 - Accommodation
Saving money on rent is very important if you want to be able to afford other expenses. That's why, upon arriving in Australia, we recommend that students look into renting a room rather than an entire apartment, for example. In addition, student residences with shared rooms can also be a great option.
Sites like Scape Student Living, Roomie's Rate and even Airbnb can help you in your search for accommodation that fits your pocket. In addition, Facebook Marketplace can also help you find affordable second-hand furniture if you're renting an unfurnished room.
2 - Food
One of the best ways to save money as a student is to buy your own food and cook as much as possible at home, rather than buying takeaway or eating out. Therefore, the famous "lunchboxes" can become your allies when it comes to saving money.
Where you choose to shop is also important. Asian or Mediterranean supermarkets tend to have a good variety and are cheaper than the big supermarkets. However, Aldi and Costco offer affordable prices for various types of products. And apps like Half Price can help you secure promotions and discounts!
3 - Promotion and discount apps
We know that an exchange program is also a time to explore a new culture and that includes tasting the local cuisine. That's why there are cheap and delicious options for you to eat out with your friends!
Many Australian pubs and restaurants have cheap meal deals on certain nights of the week, along with happy hours. Also keep an eye out for US$ 10 meal deals and pizza nights that offer two for the price of one.
You can also find meals and drinks at special prices all over Australia using useful apps such as The Happiest Hour and EatClub. These apps not only show offers and promotions made by restaurants, they also offer discounts.
4 - Shopping and entertainment
Browser extensions such as Cashrewards and Shopback can be great allies when shopping online. These two sites offer a kind of cashback, as well as showing various coupons for the items you select. Amazing, isn't it?
But the options for saving money don't end there, you can also spend less on entertainment with sites like Groupon and Lastixx, which offer a wide range of events - such as theater, musicals, comedy shows, sports - and tours at incredible discounts.
5 - Banks
Choosing your bank also makes all the difference when it comes to saving money. Some banks in Australia offer special conditions for students, such as interest-free accounts and fees. But you don't have to worry about that, we at Good Day will help you find the best bank and assist you with the account opening process.
There are many advantages to saving money, because this way you will avoid undue stress, you will be able to live more comfortably and you will have more money left over to enjoy Australia during this unique and incredible experience that is an exchange.
And if you want help planning your exchange, we at Good Day can help you. Get in touch!
