28 Aug 2024
Do you know you can turn your dream of studying abroad into reality and send money to Philippines from Australia to help your family? Budgeting plays a significant role in an individual's life. It creates convenience by aligning with your expenses, and you can easily manage your money. Students who want to study abroad must properly budget their educational expenses. Studying abroad is highly valuable but comes with many challenges. Handling finance is one of the significant barriers for Filipino students.
According to the IDP Education statistics, nearly 53,000 Filipino students are studying abroad. Almost 44% of students are on self-funded education, and the rest of them are on scholarships of a different kind. In foreign countries like Australia, educational expenses are quite costlier. As a student, your first concern should be the timely payment of your dues so you can continue studying. Let's have a look at essential budgeting tips for your foreign studies goals:
Living in a foreign country is challenging for most students because they are unaware of currency conversion rates and its impact. The worth of developed countries like Australia have more worth. So, when you send money online to Philippines from Australia, the cost will increase, or you can say you can have double the money. It is because Australia deals in dollars (AUD), and the currency of the Philippines is the peso”. 1 Peso is equal to 0.025 Australian Dollars. So, make your budget according to AUD and follow the below tips.
List all the expenses you have to cover while living in Australia. The first and foremost important is your educational fee. Ensure you have enough money to submit your university dues on time to prevent fines. You also have to specify cash for your daily food and transportation expenses. Pen down all your expenses, like bills or taxes, so you remember everything.
Aligning your monthly expenses according to your needs and wishes is very important. Always prioritize high-need items, such as tuition fees, rent, or bills. Then, dedicate some amount of cash for food and transportation because they are necessities of life without which survival seems harder. Divide your finances for each of your needs to manage your money efficiently.
Make saving your essential habit. Always save money for emergencies. Savings can also help you pay your fees, or you can make regular money transfer from Australia to Philippines to help them. Living in Australia can be expensive, so you must save some money to meet unknown expenses or to manage flexibility in your budget.
Having a part-time job can make your life in Australia easier; students who move abroad for studies are allowed to do a job for some working hours in Australia. So, start looking for a part-time job to meet your expenses. It will also provide you with experience, and you will learn gradually. Moreover, you can also send money to your Filipino families to support their household income. You can also look for online jobs or remote jobs.
One of the essential budgeting tips is to make a low-cost budget. All the essentials do not have a fixed cost. In Australia, you will find branded things along with local products. Initially, try to reduce your expenses and opt for a low-budget life. Reduce your spending and save more. Avoid wasting too much money on buying expensive clothes or food or for traveling. Stay focused and plan a healthy schedule to achieve your goal.
Try to open a savings bank account so you can save more. Moreover, some savings accounts in Australia give you a monthly stipend, depending upon the amount you saved in the bank. It will help you save money for a long time, and you can access it conveniently.
Most Filipino students who move to Australia start jobs so they can live a tension-free life. They also send money to their families through online remittance services. Always choose an affordable and cheapest way to send money to the Philippines from Australia to save more money. Remember, the more you save, the more you will grow!
As a student, you must be aware of the expenses you may face in Australia. As an international student, you can also learn about the guide to managing costs and budgeting.
Your academic fee is one of the most critical aspects. Start saving for your tuition fee before landing in Australia. Different Australian universities come with varying tuition fees. So, research regularly. As an international student, you need scholarships to eliminate the hassle of tuition fees.
The second important thing for Filipino students is managing their living costs, which include food, shelter, clothing, and transportation. So, you need to prepare yourself, as in the beginning, it will take some time to find jobs to manage your expenses. It will also help you send money online from Australia to the Philippines for the support of your family.
In Australia, you may have to deal with healthcare emergencies like injuries or other problems. So, you must have some extra money to deal with such emergency cases. Healthcare institutions in Australia are usually expensive, so consider the fees before coming to Australia.
Budgeting is necessary for students who want to study in Australia. You can also use budgeting tools as offered by banks or remittance services like ACE Money Transfer to create an adequate budget. Firstly, list down all your expenses and start aligning your expenses according to your needs. Secondly, you must consider the cost price of living in Australia. Try to save more and adopt a low-cost living style to achieve your goal of studying abroad. Apply for part-time jobs in Australia or look for remote jobs so you can have a proper source of income to meet your monthly expenses.
As a Filipino student, you must first learn about the type of expenses you may have to bear in Australia. Firstly, familiarize yourself with Australian currency and try to save money in AUD as you may face a more significant impact while converting your money from Peso to AUD. This is because the value of AUD is more than that of Peso. You can also use bank remittances or currency exchange centers. ACE Money Transfer is a remittance transfer service that provides extremely good rates to Filipino students for ending money. It is one of the best ways to make an online money transfer from Australia to the Philippines.
While living in Australia, be conscious of your electricity or other supplies bills. Australia's dissent charges students no taxes unless they start meaning. So, if you have a part-time job, learn about income tax. Lastly, learning to live a low-cost life is necessary because only then can you grow and be successful. If you spend all your money on luxurious activities, you may have to face serious financial problems.
Budgeting is a financial planning technique for managing income and monthly expenses. It also includes financial plans, saving goals, and spending techniques. It helps you align your costs efficiently.
Yes, budgeting is crucial for Filipino students who want to study abroad. It helps them manage expenses, avoid financial stress, and ensure the on-time payment of all necessary dues.
Financial challenges are among the biggest obstacles for students who want to study abroad. They require careful budgeting. Other challenges include cultural shocks, homesickness, and academic pressures.
Digital banking and online emittance transfer services are cost-effective ways of sending money to the Philippines from Australia. ACE Money Transfer helps Filipino students send money to Australia at affordable prices with stable currency conversion rates.
ACE empowers Filipino students by connecting them financially with their families in the Philippines. It provides competitive exchange rates for sending money home. Moreover, Filipino students can enjoy the first fee-free transfer to the Philippines from Australia through ACE.
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