To revel in the great Australian life, you must be willing to shoulder its costs. By now, you already know that the best things in life aren’t free. With that in mind, you need to prepare your funds to sustain your life and studies in Australia.

While services like healthcare are free, living in Australia is still quite expensive. You can even expect your bills to soar during the summer season.

Read on so you can have a reference on how much to save to study and survive in Australia:

Financial Requirements

There are pre-departure costs associated with studying in Australia. One of which is having sufficient funds. Proof of financial capacity is required during your Australian student visa application. 

In general, a student needs at least AUD 21,041 for one year. But if you want a more specific estimate, you can use a cost of living calculator. Make sure to read until the end so you know which factors to add. 

Cost of Studying

Public schools are free for Australian citizens. With that in mind, education costs more for international students.

A bachelor’s degree ranges from $20,000 to $45,000 every year. Meanwhile, a master’s degree costs slightly more at $22,000 to $50,000 per year.

Those pursuing a doctorate degree can expect to pay up to at least $18,000. Tuition fee costs higher depending on your program.

Student Accommodation Costs

On-campus accommodation is the most affordable choice for solo students. The rate for each dorm is around $110 to $280 every week. 

If you’re renting an apartment with roommates, you’ll spend an average of $95 to $215 weekly. On your own, the cost goes up to $185 to $440 every week.

For homestays, the host family usually covers your food and transportation. But you may still spend around $235 to $325 each week. 

Public Transportation Costs

A single-ride bus ticket costs $3. If you’re a frequent bus rider, consider getting a day-pass for only $8. 

There are also bus rides for intercity travel. A trip from Sydney to Melbourne costs around $65.

If you want to board a train, a one-way ticket costs only $2. There are also domestic air flights in Australia. Ticket costs vary per destination. 

Food and Dining Expenses

Food costs vary from city to city. In general, a student needs at least $250 to $350 per month.

To dine out, you must set aside around $90 every week. Price varies depending on what meal you order and what type of restaurant. You can choose between fast-food chains or mid-range restaurants in malls and city districts.

Other Utility Costs

Electric, water, internet, and gas bills are relatively high in Australia. A student will pay around $220 each month on utility bills.

If you’re sharing an apartment, utility bills may cost $360 per month. The bill may go higher depending on the number of people in an apartment. 

Knowing the cost of living in Australia is important to prepare for your funds. Dive into our resources here at MSM Unify to read more relevant content.

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