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Your year to master money

Set your money up to back you – a bit of work upfront can save you time and stress once the assignments start to stack up later in the semester.

3 minutes read19 January 2026
A group of diverse friends, including a smiling woman, enjoys a relaxed picnic on a wooden platform by the river under soft daylight.

Start student life strong – and set your money up to back you every step of the way.

You’ve got a big year ahead – study, placements, perhaps a new job – and the last thing you need is money stress. A few smart moves now can make student life smoother (and give you more time for fun!).

Step 1: Build a budget that fits your life

Forget perfect spreadsheets – you just need a clear picture of what’s coming in and what’s going out.

  • Money in: casual work, Centrelink, scholarships, family help.

  • Money out: rent, food, transport, streaming, those late-night snacks.

You could even use a budget planning tool to help you map it all out. The goal isn’t to restrict yourself, it’s to make your money work for you.

Step 2: Automate your money

When life gets busy, automation keeps things on track. Set up three accounts:

  • Bills – rent, phone, subscriptions.

  • Spending – everyday costs and fun money.

  • Savings – even $10 a week counts.

Then set automatic payments each pay day. Your money flows where it needs to, without you lifting a finger. You can name the accounts in your banking app, and many banks will even allow you to track progress towards your savings goal directly within the app.

Step 3: Spend smarter, not stricter

You’ve already set yourself on the path to success, but spending mindfully will supercharge your progress. Here are a few extra tips:

  • For any non-essential purchase over an amount of your choice, wait 24-hours before buying. You’ll often find that your online shopping cart is less appealing the next day.

  • Check if a student discount is available for purchases, transport or even your favourite food spot. It’s money back in your pocket and every little bit adds up.

  • Check, don't obsess. A quick check every few days keeps you in control without making money management a full-time job. Check that your automatic transfers all went through and that you’re on track to meet your budget.

Take the student saving challenge

Your savings will get you to the things you really want, but how many of us have really looked forward to saying each week? Our 28-day challenge makes it easy and is designed specifically for students.

Learn more