Living expenses

Estimating annual living expenses

Estimating your living expenses as accurately as possible is a necessary first step towards managing your finances. Costs you will need to consider include study-related fees, books and stationery, as well as accommodation, food, bills, travel, and social and recreational activities.

If you are an international student or a domestic student living away from your family home, you will likely have some set up costs in your first year, and perhaps later if you move into another residence during your studies. The actual costs you will incur will vary depending on inflation, location, lifestyle and individual preferences, so do some homework before adding up your figures.

A table of suggested expenses appears below. More detailed information can be found on the Health Wellbeing and Development website under 'Financial aid and loans.

NOTE: The amounts below are a guide only to the range of expenses you are likely to incur based on average costings (your total expenses will be more or less depending on your situation). You should carefully read the footnotes associated with this table for explanations and more information.

1. This amount will vary greatly depending on your course, and whether you purchase your textbooks, new or second hand, or use library or other resources etc.
2. The actual amount will vary according to the course and the study load undertaken. A more accurate figure can be obtained on the Monash Fees site.
   
3. This amount only applies if you choose to pay your CSP student contribution amount (SCA) upfront (it includes the 20 per cent discount for upfront payment), otherwise your SCA is deferred to the Australian taxation Office.
   
4. Your public transport costs will be lower if you are only travelling in one zone. It can also be cheaper to buy an annual ticket or purchase your ticket online (5 per cent saving from 2009).
   
5. Car registration fees vary based on your residential address. Fees for rural areas are less than metropolitan areas. If you hold a Health Care Card you may be eligible for a concession on the registration renewal fee.
   
6. Car insurance is optional but you must be aware of the financial risks involved in driving an uninsured car. Premiums can be very high if you are under 25 or have an accident history, and vary according to the type of car you drive, where you live and what level of insurance you want. It’s important to shop around for insurance that suits you and that you can afford.
   
7. Any additional travelling such as to work or for social activities would mean a higher petrol cost.
   
8. Based on $5.50 all day ticket parking x 5 days and the maximum 2009 annual blue parking permit rate (Clayton).
   
9. This is based on the average cost of two mechanical services per year – it does not take into account major repairs or tyres.
   
10. Example of a minimum mobile plan rate - there would be additional costs if you make calls above the number allowed on the plan, or if you chose a higher plan.
    
11. This value will vary widely depending on your lifestyle choices and requirements.
    
12. Domestic students do not have to have medical insurance. Visiting a doctor on-campus, where available, is usually free for students. Some public clinics bulk-bill, so that you don’t have to pay a fee to see a doctor. What you spend on doctors, chemists and dentists will be determined by your personal requirements.
    
13. Single rate/family rate.
    
14. This cost will vary greatly - living in your family home may cost you nothing, or a minimal contribution depending on your arrangements with your parents or guardians. If you are an international student or country student boarding with a family, you can expect to pay a higher rate.
    
15. There will be additional costs if your household decides to connect land line telephone/internet services.
    
16. If you move into a house that has already been set up by other students, you may not have to pay any of these costs.
    
17. The amount you pay will depend on your location. Rural accommodation (Gippsland) is generally cheaper than inner-city accommodation (Parkville).

Accommodation

Accommodation expenses vary depending on whether you live at home with your parents, share a rented house, rent on your own, or live on-campus. Contact Monash Residential Services or visit http://www.monash.edu.au/pubs/sii/landing-accommodation.html for more information about housing options.

Renting privately

Renting involves some financial planning in order to meet establishment costs and rental and bill payments. Renting shared accommodation is generally cheaper than renting on your own, because you are able to share costs.

You are normally required to pay one month’s rent in advance plus a bond (usually an additional month’s rent). The bond is repayable in full at the end of your tenancy, providing there is no damage to the property and no outstanding rent. If you are on a low income, it may be possible to borrow the bond money from the Victorian Department of Human Services. Refer to the section on the Bond Loan Scheme under ‘Government benefits’ in this guide.

Most flats or houses are unfurnished, so you will probably need to buy certain items (refer to the ‘Planning and budgeting’ section). Usually in share households, each tenant is responsible for supplying furniture for their own bedroom, and everyone contributes to furnishing communal areas.

Each month’s rental payment is due in advance. Be aware that your tenancy does not automatically finish on the last day of your lease. You are required to give the landlord notice of your intention to vacate. Usually 28 days notice is required, but it varies according to your reasons for vacating.

If you need information on your rights and responsibilities as a tenant, contact the Monash Housing Advisory Service, or the Tenants Union of Victoria on +61 3 9416 2577.

There may be connection fees for utilities such as electricity (about $27) and telephone (about $60). If you are a Health Care Card holder, some connection fees are waived, and discounts may be available on electricity and gas bills (between May and November) as long as the bill is in your name. If you are going to be late paying a bill, contact the provider to negotiate an extension.

Most bills arrive every few months, but you could ask the service provider if you can pay the bills either by installment or monthly. This makes it is easier to keep track of your outlays. If you live in a share household, ask your telephone provider to issue itemised bills, or set up separate accounts for each householder.

To manage their food bills, many student households set up a kitty system, where each person contributes a set amount towards commonly used household products and food.

For hints about budgeting and managing your bills, refer to ‘Managing your money’ later in this guide.

On-campus accommodation

On-campus accommodation is available on the Berwick, Caulfield, Clayton, Gippsland and Peninsula campuses. The costs and availability of on-campus accommodation vary greatly between campuses. For example, on some campuses you may rent a single room that includes meals and other facilities, or you may choose to live in a residential facility that houses a number of students in a private living environment.

Visit the Monash Residential Services website for information about accommodation rates, facilities, residential programs, regulations and policies, and application procedures. The FAQs section for each campus outlines what is included in the accommodation rates and what you must budget for separately.

Additional on-campus accommodation information.

Social and recreational activities

Your expenses will vary depending on whether you own a car or computer, need access to the internet, smoke, eat out regularly, drink alcohol, own a mobile phone, have an active social life or participate in recreational activities.

Transport

Public transport

Catching public transport to uni is more cost-effective than running a car, which includes petrol costs, maintenance, insurance and registration.

Travel concession cards for the Victorian public transport system (Melbourne city, suburbs and country V-Line systems) are available to Australian residents studying full-time in a course recognised for Austudy purposes, ie students undertaking their first undergraduate degree or diploma course, but not to masters or PhD candidates. International students are not eligible for these concessions. The only exceptions are for international exchange students and full-time undergraduate AusAID-supported international students, who are eligible for travel concession cards.

If you are eligible you will receive an application form complete with your photo and details in the mail before the start of first semester. If you don’t receive a form then drop into a Student Service Centre and they’ll print one off for you. The tertiary concession card costs about $8.80 and enables students to purchase concession fares on public transport within Victoria. Note that holders of a Centrelink-issued Health Care Card are already eligible for concession fares on all public transport services. For details about travel concessions in Victoria visit Metlink.

If you are planning to travel by public transport to uni each day, consider buying a weekly or monthly ticket – it will save you money. From 2009 you can save a further 5 per cent by pre-purchasing tickets online. A weekly ticket also allows travel in all zones on Saturday and Sunday, regardless of the zone(s) shown on the ticket.

For further information, visit Metlink.

Air travel concessions

Air travel concessions are available for full-time students (who hold an international youth and travel card) from some airlines. Applications are available at airline offices or student travel offices.

International travel cards

International youth and travel cards (entitling students to concessions overseas and in Australia) are available from STA travel branches. These cards can be authorised at Student Service Centres. For further information, contact the Clayton STA office on +61 3 9905 3128.

Intercampus shuttle buses

Intercampus shuttle buses operate between Clayton - Berwick, Clayton - Caulfield and Clayton - Peninsula campuses. Other services may be available in 2009. Pick up a timetable at the Information Desk in the Campus Centre on Clayton campus, or visit the website.

Your student ID must be presented on request.

Parking on campus

There’s a variety of parking options available depending on your campus. If you only drive occasionally then look for day ticket options otherwise you’ll need to buy a parking permit (except for Gippsland campus). Spaces are often hard to find especially at the start of semester when everyone is on campus so plan ahead.
At Parkville, parking is available in the surrounding streets but not on campus, so no parking permits.
Wherever you park make sure you read the parking signs and observe the limits – you’ll be fined if you don’t!

On campus residents

At Berwick, Clayton and Peninsula, students living in Monash Residential Services accommodation receive a residential parking permit which allows them to park free at their residence. In most cases, as these residences are within walking distance of campus, this will mean there is no need to pay for any additional on-campus parking.

Special parking permits are available if you are studying on Clayton campus and also Peninsula or Berwick. Contact your main campus for more information.

• Buy a parking permit
• Campus parking

Carpooling options are available at some campuses, which will enable you to share fuel and parking costs. A free parking area is provided at Clayton campus within the blue permit zones for those who choose to carpool. Contact the Monash Student Association for further information, or refer to the section on parking in the back of the Student Diary.

Health

Medicare card

Medicare cards are available to all Australian citizens and permanent residents and New Zealand citizens. A Medicare card enables you to see a doctor without having to pay, as long as the service or doctor offers a bulk-billing service. If the doctor does not bulk-bill, you can still use your Medicare card but will have to pay part of the cost up front yourself. A health service offering bulk-billing is available on some Monash campuses. For information, visit the HUB website.

To apply for a Medicare card, visit your local Medicare office, contact 13 20 11 or visit the Medicare website.

Health Care Card

Many Australian students are eligible for a Health Care Card. The cards are issued by Centrelink, and eligibility is based on an income test over an eight-week period prior to applying. Applications are available from your nearest campus Hub, Centrelink office or Centrelink website.

A Health Care Card generally entitles you to:

• discounts on certain prescription medicines
• subsidised dental and optical treatment
• free ambulance/air ambulance travel in an emergency or if recommended by a medical practitioner
• discounts on gas and electricity bills from May to November
• a 50% discount for car registration (one vehicle per card and you are still liable for third-party insurance)
• concession fares on public transport.

Guide to cards eligible for concessions in Victoria.

Overseas Students Health Cover (OSHC)

It is a condition of the student visa that all international students must take out OSHC and maintain it for the duration of their stay in Australia. All commencing international students must pay OSHC to the university, which arranges cover with WorldCare Assist. This payment must be made to cover the length of the visa (ie single premium x 3 year visa = $997).

For further information, see ‘Destination Monash: Handbook for International Students’ which is also available in print from the Hub on each campus.