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Sample Budgets

On this page:

Weekly Living Costs
Extra Costs during Trimester/s

Weekly Living Costs

Sample budget for 2009 for a student flatting with 3 - 4 others:

Weekly Income	$	Weekly Expenses	$
		*Essentials*
Student Loan	160.24	Rent	150.00
or		Power	20.00
Student Allowance		Phone Rental Internet	8.00
Full entitlement, net (under 25)	158.65	Groceries	60.00
Accommodation Benefit	40.00	Toiletries	6.00
		Transport-based on monthly pass	24.50
		Appliance Rental	4.00
		Bank Fees	2.50
Total allowance	198.65	Subtotal	275.00
		*Extras*
		Cellphone	5.00
		Entertainment	30.00
		Snacks / Lunches	15.00
		Subtotal	50.00
TOTAL	160.24 or 198.65	TOTAL	325.00
Weekly Shortfall: $126 or $165

The Student Allowance and/or the Student Loan is not enough to cover all your expenses.

How will you make up the difference?

Part time work?
Savings from summer?
Family assistance?
Reduce expenses?

Extra Costs during Trimester/s

Sample costs for 37 weeks (Trimester 1 and 2):

Variable Expenses	$	Other Possible Income	$
Texts and Course Materials	800	Student Loan Course Costs	1000
Bond or Flat Set-Up	650	Interest Free Bank Overdraft	500
Trips Home	300
Toll Calls Emergencies	200 250
Clothing	400
Sport, Birthdays, Insurance	400
Total	3000	Total	1500
Shortfall for Extra Costs: $1500 or more

The course costs of the Student Loan and a bank overdraft help cover those extra costs over the academic period, but funding from other sources is still necessary to meet all of your expenses.

Use our Personal_Budget_Worksheet (18 KB - xls) to help plan ahead and to track your spending. You are also most welcome to call in to see us and one of the Finance Advisers can help work out a budget with you.

Alternative calculators are available at Sorted, which also provides useful information for students.