Budget planning and advice

Budgeting gives you control over your money and your life. It lets you see how much money you have, what you have to spend, and how to make your money go further.

To prepare your budget, think about a typical university day

  • How will you get to uni?
  • Will you bring your lunch or buy it?
  • Will you buy course-related text books or borrow them from the library?

Keep in mind non-tuition expenses

  • Travel
  • Accommodation
  • Food
  • Medical and dental fees
  • Insurance
  • Mobile and internet
  • Clothing
  • Gym or sports membership fees
  • Social events and entertainment

Follow these budget tips to be in control of your money

  • Determine your total income
    How much money do you have coming into your bank account each week/month?
  • Outline your total expenses
    Where does your money go? How much do you spend each week/month?
  • Compare your income with your expenses
    Make sure you spend less than you earn.
  • Track your spending on a regular basis
    Every month take a look at how you're doing, especially if your circumstances and your income change.
  • Set goals for yourself
    Think about the goals you want to achieve and work towards them.
  • Follow the 20/10
    Ideally, your debt should never be more than 20% of your annual income (after tax). For example, if your annual net income is $15,600 your maximum safe debt load is $3,120. Your monthly debt payments should never be more than 10% of your monthly net income. So if your income is $1,300 a month your monthly loan payments shouldn’t be over $130.
  • Try to set aside 5% of your net income (amount you earn after tax) for savings

Contact the Student Hub

The Student Hub can give you advice and tips about budgeting if you're finding it hard to survive financially.
Student Hub location and opening hours


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Last updated: 15-Nov-2016 8.07am

The information on this page was correct at time of publication. For a comprehensive overview of AUT qualifications, please refer to the Academic Calendar.