Students moving out of home

[RobinHood]

Unfortunately for me (financially) - I'm being kicked out by the folks. :O

I'll be studying full-time and hoping to work 2-3 days per week in order to cover expenses and stay a little above break-even / in surplus.

I don't think I'll be able to get much from centrelink as I have a decent stash for my trading which I'm really really not wanting to cut into.

Any tips? Would any other students care to share their experiences of balancing full-time studies and working enough to cover living expenses...?

 

[BradK]

Unfortunately for me (financially) - I'm being kicked out by the folks. :O

I'll be studying full-time and hoping to work 2-3 days per week in order to cover expenses and stay a little above break-even / in surplus.

I don't think I'll be able to get much from centrelink as I have a decent stash for my trading which I'm really really not wanting to cut into.

Any tips? Would any other students care to share their experiences of balancing full-time studies and working enough to cover living expenses...?

Ahhh... back in the day when I was a Uni student...

A few tips:

1. Turn up at friends folks house at around 5.30pm for a quick hello. You will be surprised how often you get invited to stay for dinner. Warning: You can't play on high rotation - once every 3 months at most for each friend. You will probably get about a meal a week for this.

2. Pub cheap meal nights - $8 for a steak as a treat.

3. Campbells soup poured over pasta - not great - but was my staple diet for about 3 years!

 

[CapnBirdseye]

Unfortunately for me (financially) - I'm being kicked out by the folks. :O

I'll be studying full-time and hoping to work 2-3 days per week in order to cover expenses and stay a little above break-even / in surplus.

I don't think I'll be able to get much from centrelink as I have a decent stash for my trading which I'm really really not wanting to cut into.

Any tips? Would any other students care to share their experiences of balancing full-time studies and working enough to cover living expenses...?

Get some hotpants, dancing moves and a lack of morals. Thats how I got through Uni, and it made me the man I am today.

 

[Grinder]

Hook up with a chick from your course. You'll be able to work when shes getting info from lectures & tell you about the useless stuff from the tutorial, you'll also have to coax her into doing most of your essays as you'll have no idea whats going on. It worked a treat for me

 

[prawn_86]

This is one of the inequalities of the Aus tertiarty system imo. People whose parents live in the city can stay at home, while those students from the country have to move.

I moved out when i was 17 to travel for a bit and then went to uni when i was 18. You just need to budget and cut your costs by moving in with a mate or group of mates.

Not being able to get Centrelink will be a bit of a blow for you, but i would suggest your essentials (food, rent, bills) should cost no more than $200 pw, and after that you can decide how much to work for spending money.

 

[josh_in_a_box]

I just moved out 4 weeks ago.

prawn is right. $200 for food rent and bill should be about right. And if you like to have a drink. Goon is your friend

However you need to account for things you have to buy when you first move out like pots and pans, plates etc. they are expensive!

 

[gav]

My brother finished uni last yr but hasn't been able to get full time employment yet. He rents in "shared accomodation" and his $120 rent also includes electricity, water, gas, and ADSL 2. Works out much cheaper when its all bundled together like that. Ideal for uni students...

 

[jono1887]

Unfortunately for me (financially) - I'm being kicked out by the folks. :O

I'll be studying full-time and hoping to work 2-3 days per week in order to cover expenses and stay a little above break-even / in surplus.

I don't think I'll be able to get much from centrelink as I have a decent stash for my trading which I'm really really not wanting to cut into.

Any tips? Would any other students care to share their experiences of balancing full-time studies and working enough to cover living expenses...?

I got kicked out at the beginning of the year :

Having a stash of cash isnt a problem for centrelink, you can have assets of up to $5500... but your bank account can always go mysteriously empty very quickly...

I didn't bother trying to get centrelink... they cap your income at ~$260 a fortnight whilst they pay you ~$350/fortnight. I would've been able to make more trading so I just stuck with it (im also studying full time in uni).

If you can trade profitably, consistently, you could always convince your parents to give you a loan of some kind so that you could trade your way for your expenses. Its less stable, but it also means you wont have to trudge yourself through tedious work 3 days a week (i got one from my parents and have made enough in 4 months to pay them all back and im pretty much self-sufficient now.

If you rent a place thats already furnished, you dont need to think about all those pots, cultlery, furniture, tv ect might save you quite a lot but you have to think in the long term aswell to see which one you would benefit from the most.

 

[jono1887]

* you can have assets up to $296k, but only $5.5k of that is allowed to be liquid... so if you have those assets tied up in stocks, i think that doesnt qualify it as liquid. If you're only holding $5.5k cash in an account at any given time, you'll be right - but dont forget the income cap, you'll still only be allowed to earn $130ish a week...

 

[skyQuake]

If you can prove that you are 'independent' you get more$ from centrelink. Rent allowance is in there as well.
You'd be surprised how helpful some centrelink customer service reps can be.

 

[pan]

* you can have assets up to $296k, but only $5.5k of that is allowed to be liquid... so if you have those assets tied up in stocks, i think that doesnt qualify it as liquid. If you're only holding $5.5k cash in an account at any given time, you'll be right - but dont forget the income cap, you'll still only be allowed to earn $130ish a week...

woohoo i can get it...

 

[Naked shorts]

Buy a few tones of agriculture products so you dont have any "liquid assets" then get centerlink. Having to work and study is horrible.

@jono1887
If you are consistently profitable in the market, you dont really need to study.

 

[Naked shorts]

Go to the supermarket, visit the Asian food section and say hello to Mi Goreng noodles, they will be breakfast/lunch/dinner for the next 3 years

 

[beamstas]

Go to the supermarket, visit the Asian food section and say hello to Mi Goreng noodles, they will be breakfast/lunch/dinner for the next 3 years

Mi Goereng

 

[jono1887]

Mi Goereng

they are the best!!

Buy a few tones of agriculture products so you dont have any "liquid assets" then get centerlink. Having to work and study is horrible.

@jono1887
If you are consistently profitable in the market, you dont really need to study.

a large proportion of uni students work and study... its just the way it is, not everyone have parents with deep pockets that can pay their kids through uni life.

Just because im profitable now, doesnt mean I'll still be profitable in 15 years time... im in a med degree so i know ill always have a job with a decent income. but if i had my way, and enough capital, i would like to just trade full time.

 

[Naked shorts]

Just because im profitable now, doesnt mean I'll still be profitable in 15 years time...

Well at least your not fooled by randomness.

 

[prawn_86]

Just to correct Jono, you can earn up to $260 per fortnight before they start deducting some money, not all.

So if you earnt say $400 they would take 50c per $1 over the 260. So you would get: 400 + (centrelink - 70), so its still worthwhile, its just frickn annoying that they penalise you for working more (hence why i dont )

 

[disarray]

I don't think I'll be able to get much from centrelink as I have a decent stash for my trading which I'm really really not wanting to cut into.

can you offshore your broker account?

 

[RobinHood]

Just curious,

I'm considering giving away most of my liquid assets as a gift (as I know of no solid hard assets I can keep them in safely) to an overseas relative. This may just come back to me as a gift a few years down the track...

How strict is centrelink in this regard?

 

[Naked shorts]

I payed my father for the car he had given me a couple of years back. They didnt ask about the transfer at all. They didnt even look to check if I had transferred money.