SAVING TIPS:�� Prioritise�needs�over�wants

�� Make�a�shopping�list�and�only�buy�these�items

�� Set�reminders�in�your�phone�or�mark�a�calendar�with�due��dates�of�regular�bills

�� Buy�in�bulk�where�practical�–�perhaps�shop�with�friends

�� Plan�ahead�and�buy�seasonal�items�(e.g.�clothes�or��Christmas�gifts)�out�of�season

�� Consider�buying�second-hand

�� Think�carefully�about�mobile�phone�plans�–�consider�prepaid�instead�and�avoid�additional�costs

�� Consider�VoIP�or�Skype�for�long-distance�phone�calls

�� Consider�car-pooling�to�share�petrol�and�parking�costs,��or�catch�public�transport

�� Pay�off�credit�cards�within�the�interest-free�period�–�look�for�balance�transfer�offers�if�you�have�existing�debt

�� Avoid�wasting�your�money�through�late�fees�and�fines��e.g.�library�fines

Useful websites:

MoneySmart:�moneysmart.gov.au�

MoneyMinded:�moneyminded.com.au

UnitingCare�Community�Financial�First�Aid:��uccommunity.org.au/ffa

How can the Welfare and Student Liaison Office help?

�� Griffith�University�interest-free�loans�and�bursaries

�� Budgeting�and�financial�issues

�� Centrelink�payment�issues

�� Renting�issues

�� Other�welfare�matters�e.g.�appeals�and�grievances,��carer�support

We�also�coordinate:

�� Online�Textbook�Exchange�service

�� Online�FreeStuff@Griffith

�� On-campus�Justices�of�the�Peace

�� Student�Partner�Program

�� Student�Leadership�Program

Visit griffith.edu.au/studentservices griffith.edu.au/welfare

Email us�welfare@griffith.edu.au

Contact us:

Gold Coast 5552 8734Logan 3382 1159Mt Gravatt 3735 6826

facebook.com/GriffithUniversityStudentServices

twitter.com/GriffithUniSSV

Nathan 3735 7470South Bank 3735 4149

Student Servicesaspiration • well-being • development

WELFAREAND

LIAISON OFFICESTUDENT

BUDGETING

JULY

�20

17

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Budgeting�can�help�you�meet�all�of�the�costs�associated�with�University.�

A�good�budget:�

�� puts�you�back�in�control�of�your�life,

�� allows�you�to�balance�‘needs’�and�‘wants’,

�� reduces�stress�due�to�financial�pressures,

�� enables�you�to�see�where�your�money�goes,

�� can�reduce�reliance�on�credit�cards�or�loans.

CREATING YOUR BUDGET

Step 1

� Gather as many bills and receipts as possible. It is important to include everything.

Step 2

� Add your income details. This will generally be weekly or fortnightly to reflect the frequency of your main income. If your pay from work is unstable, put in the average amount that you will receive.

Step 3

� Write down your regular expenditure, breaking it down to either weekly or fortnightly amounts in line with your income. Your trimester or annual expenditure should also be included (e.g. textbooks, car registration, insurance) by dividing the total amount by the number of weeks/fortnights.

Step 4

� Set aside some money as savings if this is possible. This will enable you to meet some unexpected expenses or emergencies. Even saving $10 a fortnight will amount to $260 in a year.

Step 5

� Now that you have a budget – stick to it. When you want to spend money on something that is not included in your budget, you have to think again because using money this way may mean that you cannot pay some bills in the future.

� When your income/expenditure changes, you will need to readjust your budget.

INCOME

Centrelink�payments $

Wages $

Family�support $

Other�(e.g.�scholarships) $

Total income $

EXPENDITURE1. Accommodation/living expenses

Rent/mortgage $

Home/content�insurance $

Rates/water $

Groceries/shopping $

Eating�out/takeaways $

Electricity/gas $

Home/mobile�phone $

Other $

Subtotal 1 $

2. Car/transport

Public�transport $

Petrol $

Car�registration/insurance $

Car�repair $

Parking $

Subtotal 2 $

3. Education

Fees�(if�any) $

Textbooks/course�material $

Photocopying/printing $

Internet/computer $

Other $

Subtotal 3 $

Now�check�whether�your�expenditure�is�equal�to�or�less�than�your�income.�You�may�have�to�cut�back�on�some�expenditure�or�increase�your�income�to�avoid�incurring�debt.

4. Personal/health

Medical/dentist/chemist $

Prescription�glasses $

Papers/magazines $

Clothing/haircuts $

Entertainment/gifts $

Gym�fees/sport $

Alcohol/cigarettes $

Other $

Subtotal 4 $

5. Credit/loan

Loan�repayment $

Credit�card�repayment $

Other $

Subtotal 5 $

6. Family/miscellaneous

Child�care $

Pet�food $

Other $

Subtotal 6 $

Total expenditure $

(add�the�subtotals�of�1–6)

Savings $

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