Students living in student accommodation in Sydney will get to know now that Sydney’s a pretty expensive place to live. Unfortunately everything is expensive, food, groceries, clothing – it’s all really expensive right? Often for students living in student accommodation there’s often a case of living large, but not really putting anything away for the future. The future is often not something you think about as a student living in student accommodation, outside the upcoming exams and end of year at university. Saving for the future is also a bit of an unknown. Previously if you were living at home, saving was something your parents would do – not you as a student! Here’s some great tips for students living in student accommodation in Sydney who are looking to keep their Sydney lifestyle relatively large, whilst saving some coin at the same time.

 

1.Speak with your bank about automatic withdrawals to pay the current bills you have. Often for thinks like mobile phone payments, credit cards and other student payments, you can set up a direct debit to be made from your bank account to pay whatever bills are due. This means that your bank pays your bills for you automatically – so you don’t see or touch that money. What money is eventually left at the end of the week, fortnight or month (depending on your bill cycle) is yours to live your Sydney lifestyle with.

 

2.Talk with you bank about setting up an account which is specifically for your savings. Often called a “savings maximizer account” these accounts for students living in student accommodation, will allow you to put aside some money on a weekly,  fortnightly or monthly basis, then earn interest on it too! This is pretty good for students living in student accommodation in Sydney. Essentially what you’re looking for is a bank account designed for students living in student accommodation in Sydney that pays the maximum amount of interest in a short period of time. This might include compounding monthly or daily interest at a fixed interest rate.

 

Speak with your bank and let them know you’re a student, living in student accommodation in Sydney and see what budget tools they have. Banks often have available many tools which can help students maximize their savings whilst living in student accommodation in Sydney.

 

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