Moving out
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Balancing the Books
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Leaving the family coop is inevitable. You come to that juncture in life where the comforts of home are brushed aside by the basic need for independence and financial freedom. But, and this is a big BUT, there’s just the small matter of full-time study – so thoughts of shaking the shackles of living at home get put on the backburner until the next domestic blue with your parentals.
Three or four more years under the family roof while at uni is strongly recommended by financial experts, police officers or mumseys.
However, if the calling is too great, then how can you move out and move on with your studies and still manage on a meagre income?
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Grants and Financial Assistance
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There is the possibility you may qualify for rent assistance through Centrelink. It sets out how much rent you must be paying per week to qualify.
There’s also a handy, albeit lengthy webcast that sets out this year’s changes to Youth Allowance and how to qualify for study grants. In short, it states that various state governments offer cheaper rental accommodation – in some cases 75% of market rents to help students into affordable houses.
There are also various housing assistance programs that can help with one-off payments such as bonds or emergency funds to cover rent.
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Home Truths
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Though it may sound apealling, renting your own place can prove extreely costly. But there are other options such as home stays. Contrary to popular belief, home stays aren’t just for foreigners. However, in terms of living independently, it may not be much chop and you might still be better off dossing at home for free.
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Student Housing organised through various campuses is another cheaper option. Luckily, some tertiary institutions spell out all the options for you and include their local rental rates. But to work out how much cash you can possibly splurge on your own pad while studying you will be well-placed to use a budgeting calculator.
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Working part-time
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Although it sounds obvious, opting for part-time work is really the perfect way to supplement your newfound independence. But know, too, that working while studying may affects your grants, benefits or financial assistance not to mention leave you stressed and lacking time for your studies. Check also with your educational facility because they might have their own rules on part-time work and talk to a student concellor about what kind of work might actually benefit your studies. Counsellors can also point you towards employers that tend to be more flexible when writing up rosters and who will take into account your study requirements. There are also some more quirky ways of looking to cut your overheads as a student - from sperm donation right through to cheaps ways to get your course books.
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Support for Students
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Study can be a stressful time and living out of home without the support of your family can - in some cases - compound feelings of anxiety and isolation. Educational facilities all have support centres designed to help students deal with myriad problems, including getting into financial turmoil. You can also contact a financal planner outside of your educational institution to receive some sound advice.
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