A budget shows you if you are spending more or less than you can afford. It allows you to direct your money to where it matters most, so you can stay on top of your bills and start putting money towards your future.

It is helpful to look at the money going in and out across a whole year. Include regular payments such as your phone and utility bills, medical expenses, car registration or public transport.

To work out your spending priorities, think about what your essential expenses are (e.g. rent, groceries, petrol), and which things you could do without, or cut back on, if you need to save money (e.g. entertainment, takeaway deliveries, streaming services).

It can be helpful to us an app or website to work out your budget, we recommend: Budget planner

You can find some great tips here:

• How to do a budget - Moneysmart.gov.au
• Get Greater at Budgeting Podcast / Greater Bank Finance Lab / UON

If you’d like help with budgeting, you can make an appointment with our Financial Counsellor – call us on 02 4921 6059 or email financialwellbeing@newcastle.edu.au

Living on a tight budget isn’t easy, but there are lots of ways to save money.

• Set a savings goal to help you stay motivated.
• Use your Spending Tracker to identify bad habits that you can change.
• Save with a friend and encourage each other.
• See our tips on eating healthily on a budget.
• Reduce your regular bills where possible – switch to a cheaper phone plan, find a bank account with lower fees, compare costs for utility providers.
• Can you car-pool to reduce petrol and parking costs? Better still, can you walk or cycle instead of driving?
• Consider buying expensive items second hand. You can find great deals on things like furniture and clothes at your local op shop or websites like MarketPlace.
• Check your spending – are you still paying for things you no longer use, for example a streaming service or gym membership?

'Saver Plus' is a matched savings program that supports families and individuals on a tight budget to develop lasting savings habits through a financial education program. If you’re eligible to participate, you could receive up to $500 to assist with your education costs. See here for more details: Saver Plus

If you’re looking for work that you can manage around your studies:

• Contact the Careers Service for help with finding a job, and tips on the application process and preparing for interviews.
• Look at CareerHub for current job listings.
• Look at online job searches e.g. LinkedIn, SEEK, Jora

When you start work, make sure you know your rights, and what to expect with pay, tax and superannuation:

• Getting a job - Moneysmart.gov.au
• Work in Australia | Study Australia
• Young workers and students - Fair Work Ombudsman

Work for International Students

International students on a visa may be limited in the number of hours they can work, so be sure to research all the details relating to your permission to work.  You can find nformation about working in Australia here:

• International Students - Careers Service
• Work restrictions for student visa holders (homeaffairs.gov.au)

Ask the right questions

• What is your name and what company do you represent?
• Who owns your company?
• What is your address?

If they avoid answering these questions, the deal they are offering you is probably a scam.

Do your own checks

• Always do your own research on a company
• Check the company’s Australian Financial Services (AFS) licence

Protect your personal information

• Do not give out any personal, banking or credit card information to anyone
• Check your bank and credit card statements every month
• Destroy all documents with your personal information on them
• Choose passwords that are hard to work out and never share your password with anyone else
• Avoid using the same password
• Be careful what you post online and, if you can, try to limit what you share.
• Make sure your privacy settings are up to date on social media accounts and share personal information with ‘friends only’

Secure your computer and mobile device by using private passwords

• Delete and do not open any unsolicited or suspicious emails you receive, and if you have opened them, do not click on any links in these emails.
• Enable security settings on your computer and mobile devices and install current anti-virus programs.

Reduce telemarketing calls

• You can put your name on the Do Not Call Register to remove your name from telemarketing phone lists.

Moving to a new city can be an exciting time, but if you're trying to find accommodation, there are lots of things to consider.

On-Campus Accommodation

To find out about living on campus, including costs and how to apply, see:

Student Living / The University of Newcastle

Off-campus Accommodation

Student Living also has an Accommodation Support Officer who can help with sourcing and securing off-campus accommodation. This service is offered to all students, international and domestic, future or current, studying at any University of Newcastle campus.

For support in your search for off campus accommodation, contact: accommodationsupport@newcastle.edu.au

You can find some great information and tips here: Off-Campus Accommodation / Student Living / Study / The University of Newcastle, Australia

Homestay

A Homestay is where a local family or person offers full board in their home. Staying in a homestay is a safe, welcoming and supportive option for students new to Newcastle, Australia and university life.

You can find more information here: Homestay

Tenancy Issues

Before signing any contract, know your rights as a tenant in NSW.

If you need assistance with rental issues, contact: Hunter Tenants' Advice and Advocacy Service

Other Useful Links

• Private landlords in the Newcastle area: Real Estate or Domain
• Apply for a Rentstart Bond Loan | Service NSW
• Rent Choice Youth | Family & Community Services (nsw.gov.au)

Having lots of debts, or struggling to keep up repayments, can be very stressful, but there are ways to make your debts more manageable and get in control of your finances.

1. Work out exactly how much you owe. Include all debts – Buy Now Pay Later, Credit Cards, Car Loans, Personal Loans, Mortgages, Fines, and other unpaid bills.
2. Work out if you can afford to pay them all on time. See our tips on Budgeting to help you with this.
3. Prioritise your debts and pay the most important ones first (e.g. rent, mortgage, car loan, etc.),
4. If you can’t pay all your debts and bills on time, reach out for help.
   • Contact your creditors and ask for the team that helps customers in financial hardship, then talk to them about options such as a payment plan.
   • Make an appointment to speak to a Financial Counsellor. They can give you free advice on managing your debts, and help you advocate with creditors and set up repayment plans.

These sites have some great information and resources for managing your debts:

• Debt solutions - National Debt Helpline
• Get debt under control - Moneysmart
• Financial Stress - Financial Rights Legal Centre

If you’re struggling with debts, be wary of companies offering expensive debt consolidation and refinancing services. Make sure you explore all your options and get advice you can trust. See here for great tips and make sure you know the risks: Untrustworthy debt advisors | afsa.gov.au

For help managing your debts, a great option is Way Forward, a charity that provides free and independent advice to people struggling with multiple debts. They can negotiate on your behalf and help you set up an affordable repayment plan. See Way Forward Debt Relief or call them on Ph: 1300 045 502.

If you are being chased by debt collectors, or threatened with legal action, act quickly - contact a Financial Counsellor or get Legal Advice.

Financial stress can have a significant negative impact on our mental health.  If finances are causing you stress or anxiety, there is support available. Go to Access Support to book an appointment with one of our Counsellors or Student Wellbeing advisers. If you need support outside of business hours, call the After-hours Support Line on Ph: 1300 653 007.

Lots of people enjoy gambling, but it can become a problem when you spend more than you can afford, and you can quickly get into serious financial trouble because of gambling.

These are some of warning signs that gambling may be becoming a problem for you:

• Spending more money than you intended on gambling.
• Gambling for longer periods of time than intended.
• Getting into debt because of gambling losses.
• Lying to family and friends about how much time and money you’re spending on gambling.
• Using gambling to escape personal problems and distressing feelings.
• Thinking about gambling all the time.
• Feeling restless or irritable when you try to cut down on gambling.
• Trying to win back lost money by gambling more (chasing losses).
• Borrowing money from family or friends to cover gambling losses.
• Missing work or study commitments because of gambling.

Some people can stop gambling on their own, but many people need help to address their gambling problems.

If you’re concerned about your gambling, consider talking to a counsellor at GambleAware. This is a free and confidential service, with specialist Gambling Counsellors who can help you with strategies for managing your gambling behaviour. You can find contact details here: GambleAware

You can also access support 24/7 via the Gambling Helpline:

• Phone 1800 858 858
• Online chat facility: gamblinghelp/tools-resources#start-chat

These sites have some great tools and self-help resources, including tips for supporting a friend or family member struggling with gambling:

• Take Control Of Your Gambling (nsw.gov.au)
• Support for young people who gamble | Gambling Help Online
• Tools & resources to manage gambling | Gambling Help Online

Centrelink

The Australian Government provides living allowances for eligible students via Centrelink. The amount you receive depends on various factors, including your age, income and assets.

To find out more information about the various payment types and your eligibility, see -

• Information for students and trainees at the Department of Human Services
• Centrelink payment and service finder

If you are receiving a Centrelink payment, it is important to avoid getting overpaid and having to pay back a Centrelink debt. You should notify Services Australia if there are changes to your:

• Study situation e.g. you change from full-time to part-time study or change your course.
• Personal situation, including your relationship status, how much you and your partner earn, and where you’re living.

Remember to let Services Australia know about changes within 14 days. If you don’t, you may end up owing money that you’ll need to pay back.

Help with Fees

Eligible students can receive assistance from the Australian Government to help pay for their education:

• If you are enrolled in a Commonwealth supported place (CSP), you can apply for HECS-HELP to pay your student contributions.
• FEE-HELP loans assist full-fee paying students to fund their studies.
• SA-HELP assists students to pay their Student Services and Amenities Fee (SSAF).
• If you are in a CSP and undertaking studies overseas, you can apply for an OS-HELP loan to help pay for your travel and study expenses.

See here for more information:

• How Do I Pay? - Study Essentials - The University of Newcastle, Australia
• Financial and study support - Study Assist, Australian Government

The Greater Bank Finance Academy is a partnership between the University of Newcastle and Greater Bank, to build financial literacy in the community.

The Get Greater Podcast covers a range of interesting Finance related topics. The podcast episodes have been created by students of Newcastle Business School to help build the financial awareness and savviness of university students and young people as a whole.

Moneysmart.gov.au is an Australian government website that has lots of great information and advice about a range of financial issues, including a section specifically for students.

MoneyMinded is a free adult financial education program that builds knowledge, confidence and skills to help people make informed decisions and manage their money.

You can access their learning activities here: MoneyMinded

The First Nations Foundation helps Aboriginals and Torres Strait Islander people to take control of their financial future, through a range of programs:

• My Money Dream is an online financial literacy training program created by Indigenous people, for Indigenous people.
• Tomorrow Money is a financial wellbeing hub designed to educate and empower Indigenous people.

The You're the Boss program provides a range of resources to help you build your financial skills, including a free online course.

You can also download their free book for some great advice on managing your money: You're The Boss – Money Wisdom For Life