ROdown Blog
Money problems?
Article by ReachOut.com Reporter Marlia Fatnowa
Year 12 has just finished and envelopes containing your future opportunities begin to pour in, almost busting the tiny screws that are just holding the mailbox together. It’s decision time. Work, uni, tafe, study, gap year? Work, uni, tafe, study, gap year? Work, uni, tafe, study, gap year? Work, uni, tafe, study, gap year? Work, uni, tafe, study, gap year?!!!
The pressure is building up and you haven’t even decided what to do yet!
After much deliberation you make the decision that further study is the way to go for you. So what now? Must get organised for the following year. First things first; pack and leave home (a few tears for the ‘rents please) or you may be staying at home while you study, however you still have to get organised. Now that you are out in the big wide world on your own, things can get a bit crazy and overwhelming from here, but don’t panic!! IT”S OK!!
When beginning further studies after school, one of the main problems during this time is financial stress.
When I moved out of home in 2010 to pursue a communications degree at uni, I left my whole family and moved to a different state. It had only been half an hour since the plane landed and I began to feel shortness of breath and sick in my stomach about all the things I had to buy for uni, my new house I would be living at and just living costs in general. Text books, stationary, public transport card, a new wardrobe, coat hangers, a chest of drawers, a new quilt, a new quilt cover, sheets, cooking utensils, set aside money for bills, food, lifestyle expenses and that new haircut I desperately needed!
And this was just off the top of my head! I hadn’t even thrown the $160 rent I was paying each week into the equation.
So how do we as students manage this? In my first year of uni I found a part time job in retail and had to work long hours to cover rent and other costs. I found this very difficult as I had to keep up good study patterns as well as get enough sleep, but I kept my head above water and having a job was a must. After struggling a bit and only making enough money to cover rent and utilities, I decided to see what financial assistant was out there for students. I called centerlink to ask about student payments and also set up a meeting at uni with the scholarships department. I was amazed at all of the opportunities presented to me that I never knew existed! Universities and Tafe institutions all over Australia can offer opportunities to apply for some kind of financial support if you are struggling. Centerlink will also help you find weather you are eligible for any government money, and as a young student living independently you most likely are!
A great scholarship website to check out is:
www.gooduniguide.com.au/scholarship
* Remember, you can apply for scholarships in year 12 for the following year, so you can get a head start for when you move out!
* The great thing about scholarships is you can apply for ones that are specific to each individual. This may be dependent on the degree or course you are studying, whether you are Indigenous or an international student, whether you are from a rural area, a high achiever and many more.
For more info on centerlink payments/eligibility check out their website:
http://www.centrelink.gov.au/internet/internet.nsf/individuals/st_index.htm
After chatting to some students around uni, their main message was start early!!. If you are reading this and you are still in high school get a part time job now if you can!
Declan from the University of Western Australia told Reach Out, “The thing I regret most is not having any savings behind me when I moved out because I never worked when I was at home”
Having a casual job can be fun and give you vital skills for the workplace later in life, as well of course, getting some cash behind you for a rainy day!
Although financial stress can be a horrible experience, there is help out there. If you need any other information about managing financial stress, check out some of our other pages from Reach Out:
- Stress (Fact sheet)
- Relaxation (Fact sheet)
- Managing independence (Resources)
This time of your life will possibly be the best so make the most of it, you can overcome all the difficulties associated with stress of any kind.
GOOD LUCK!
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