It can be challenging to know exactly the cost of living in Australia when you’re not even in the country. And sometimes even when you’re already there! No more struggles here. Follow the guide to know all about the cost of living in Australia but also to manage your budget like an award-winning accountant.
All you need to know about the cost of living in Australia
It’s not a secret: Australia is one of the most expensive countries to live in. Sydney is on top of the list of the costliest Australian cities, quickly followed by Melbourne and Brisbane. If you are on a budget, Perth and Adelaide might be a better choice. However, if the cost of living in Australia is very high, salaries follow the same rule: 4838$ AUD is the average salary.
Generally, an individual will spend approximately 20 000$ AUD a year while a family will spend more than 50 000$ AUD yearly. Note that this estimation doesn’t include the entertainment, sporting activities, or health and emergency costs that are not covered by medical insurance.
Like in most countries, accommodation is the most expensive part of the budget of an Australian resident. Food and transport are the two other most costly aspects on the island. Let’s have a closer look at those sneaky three with the estimations below.
Accommodation costs when living in Australia:
– Rental: from 165$ AUD to 440$ AUD per week.
– Shared rental: from 85$ AUD to 215$ AUD per week.
– Homestay: from 235$ AUD to 325$ AUD per week.
– Hostels and guesthouses: from 90$ AUD to 150$ AUD per week.
– On-campus: from 90$ AUD to 280$ AUD per week.
Other living expenses when living in Australia:
– Groceries and restaurant: from 80$ AUD to 280$ AUD per week.
– Public transport: from 15$ AUD to 55$ AUD per week.
– Gas and electricity: from 35$ AUD 140$ AUD per week.
– Phone and Internet: from 20$ AUD to 55$ AUD per week.
– Car: from 150$ AUD to 260$ AUD per week.
– Fitness Club: from 45$ AUD to 70$ AUD per week.
– Entertainment: from 80$ AUD to 150$ AUD per week.
– A pint of beer: from 8$ AUD to 16$ AUD.
– A pack of cigarettes: from 19$ AUD to 43$ AUD.
4 tips to manage your budget when living in Australia
If you are reading these lines, you’ve probably become an expert in the cost of living in Australia by now. Therefore, you might be ready for the most important part of this article: managing your budget in a place where there are always heaps of exciting things to do.
1 – Set your money goals
2 – See where your money goes and act accordingly
3 – Pay your debts
4 – Spend money to save money
Do you want more information about life in Australia, visas, or student visa courses? Contact us at 03 9939 1711 or directly here.