When you compare the cost of living in Australia per year to the cost of living elsewhere in the world, you may find that it is cheaper to live and go to school here than it is in many other parts of the world. The cost of living in Australia is actually lower than the cost of living in the United States and the United Kingdom. It is no wonder over 200 thousand international students flock to higher education institutions Down Under each year.

According to the Australian government’s research on cost of living, the average person needs around AU $1,500 per month to cover their basic expenses which includes accommodations, food and public transport. That equals out to about AU $18,000 per year. This number does fluctuate depending on where in Australia you choose to live and your lifestyle. For example, the cost of living for one year for food, accommodation, public transport, clothing and entertainment in Sydney is around AU $3,000 per year more than if you were to settle on the Gold Coast.

Keep in mind that things such as tuition fees, materials and books, luxury items, trips, telephone or mobile phone bills, electricity, and other items such as cigarettes and alcohol are added expenses that must be taken into consideration. For the most part, you will probably spend less on these items – with the exception of cigarettes and alcohol – in Australia than you would anywhere else in the world.

In order to live comfortably in Australia, it is advised that you should plan on having about AU $500 to AU $1,000 more than you will need for your basic expenses each month. This may seem like a high number, but if you share accommodation during your stay and split the cost of food and utilities you will be able to drastically lower your cost of living expenses. Remember, students can work up to 20 hours per week during course time and unlimited hours during the holiday breaks.