Five Ways to Keep on Top of Your Spending as an International Student 

Make your money work for you.  

Being a student often means you’re always trying to make a quick buck and save money where you can.  

And being an international student means you’re definitely on top of budgeting because there’s always something to pay for - tuition, accommodation, living expenses and more. Saving while studying can be tricky but don't worry, we've got you covered on how to save and keep on top of your spending while still being able to save. 

Shop smart.  

Keep an eye out for sales for your favourite brands, search for coupons and save those student deals that catch your eye.   

A really handy way to keep track of any deals that become available is through the Student Edge app or on our website that can show you heaps of deals from your favourite brands.  

When doing your own grocery shopping, a smart way to save money is to buy in bulk online and save the hassle of restocking weekly on things for your laundry, bathroom, kitchen, etc. You can also save by checking out different grocery stores weekly catalogue which advertise all the deals for that week/fortnight.  

Track your spending.  

There are heaps of apps available to keep on top of your finances and it’s a great habit to track your spending to see where most of your money is going. These apps help you set spending limits, receive alerts for low balances and help you get a visual of your spending habits. You can also keep track of your spending in an excel spreadsheet. 

This is also a super easy way to identify areas you can cut back on, where you might not realise you’re spending a lot of money. After a month, check back on the recurring payments and find out where your money is actually going.  

Set up a savings challenge.  

Keep it big or small but work towards a reasonable (and realistic) goal. An easy way to start a savings challenge is to choose a number of weeks you're going to save for (for example 52 weeks for 12 months) and then create a list of random amounts corresponding to the number of weeks you're saving for.  

These amounts can range from small to large depending on your budget.   

Then, write down those amounts on pieces of paper and draw one each week or you can use an online random number generator to pick an amount for you.   

Each week, put that chosen amount in your savings and you won't realise how much you’ve saved.  

This is a super easy way to create an emergency fund or save for big expenses like a new phone or laptop. 

Regularly review bank statements.  

Reviewing bank statements can be a bit of a hassle but it’s still important. Reviewing them regularly is the best way to quickly catch any unauthorised transactions or fees you might want to dispute.  

And if you’re ever in a situation where you think you’ve been scammed, the sooner you speak to your bank about it – the better.  

Set up a bank account that supports your goals.  

Do your research before you choose a bank to set up an account with. Setting up a bank account can be confusing and frustrating but it’s important to choose an account that suits your finance goals. Savings accounts are specifically designed to help you set and track how you're spending so you can hit those goals. A good account to look for when saving is one that has high interest rates meaning you get more money back when you put money in.  

It’s best to find out all the features of an account before you open it, to know you’re getting the best bang for your buck.   

This article does not constitute personal financial advice. Before acting on any information in this article, you should consider your money goals and financial situation to ensure it’s appropriate to you.