How much to save?

[artist91]

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I am aiming to go on exchange to the UK either Sem 2 2010 or Sem 1 2011.

Can anyone who has been on exchange shed some light on how much would be a good figure to save towards an exchange?

I'm thinking about AU$8500?

[dils1989]

im going first semester next year and from what i can gather, probably more towards 10-12k for semester incl. travelling etc?? not too sure tho but 8.5k seems a bit too low. my uni exchange office said minimum 1800 AUD per month youur there if that helps.

[PwarYuex]

Originally Posted by dils1989

im going first semester next year and from what i can gather, probably more towards 10-12k for semester incl. travelling etc?? not too sure tho but 8.5k seems a bit too low. my uni exchange office said minimum 1800 AUD per month youur there if that helps.

That would be enough for anywhere except if you lived in a London apartment, to be honest. One program I looked at gives a 1600 euro per month scholarship, and that's enough to live in central London near LSE.

Originally Posted by artist91

I am aiming to go on exchange to the UK either Sem 2 2010 or Sem 1 2011.

Can anyone who has been on exchange shed some light on how much would be a good figure to save towards an exchange?

I'm thinking about AU$8500?

It really depends on your situation:
- Most importantly, are you paying for accommodation and food?
- What are you going to pay for? Ie, are you travelling and buying things, or staying put?
- Where are you in the UK? London's the most expensive places to live in the world, although if you go on the outskirts it can be very cheap.

Best piece of advice is to speak with people who have already done what you're planning to do; and speak with multiple people. $8,500 would last me a semester in the UK if I was somewhere cheap and boring, but that's me.

[artist91]

Thanks for your input guys.

Ahh maybe i'll have to save up a little more!

I'll be in Edinburgh which I understand will be cheaper than London (rent about 100-150 pounds p.w).

A scholarship would be so much help but my uni only seems to give them out to people going to weird places like Norway lol!

[Andi0390]

I would make a list of everything that you are going to spend money on. Budget a little too much for everything. So if rent is 100 - 150 Budget 150 or 160. Work out all your rent for the year. Then add in power, gas, phone and water (if the place charges water). Be a little generous. I would do it all in pounds first and at the end transfer it over.

I would give about $80 a week for food. I mean I have lived on much less but you don't know how much everythign is going to be. Remember to put in transport (probably will be at least 15 pounds a week), as well as text books etc.

If you plan on working for your money I would have at least 2 months back-up that you can survive on while trying to find a job. If you plan to work in a a coffee shop remember some places require courses. Like here in NZ (I just moved here) you need a Food Prep Cert. if you want to work in a sandwhich bar or something, and a Liquor Cert. for bars, and the Liquor one costs $450 so if you are going to do that be prepared for costs like these.

Also remember you can take over very little and its usually cheaper to buy a lot of the basic things again rather than pay for transport so I think you should leave at least a few hundred for that.

When you have done all that add in your airfare, tally it up and convert it to AUD. I would then add a 10 - 20 % extra 'buffer zone" then try to save that.

Also look into how easy it will be to find accommodation. If you are going at the beginning of the academic year it might be difficult to find a house. I would allow for at least a month in living in a hotel/hostel. Also remember you may be required to sign a 12 month lease, and pay up to six weeks bond and/or rent in advance.

The Thorntree Forum (Lonely Planet) is a travel guide but lots of people ask questions about moving to places, like living costs etc. and you can find out the truth from people who live there.

Good luck

[PwarYuex]

Originally Posted by artist91

Thanks for your input guys.

Ahh maybe i'll have to save up a little more!

I'll be in Edinburgh which I understand will be cheaper than London (rent about 100-150 pounds p.w).

A scholarship would be so much help but my uni only seems to give them out to people going to weird places like Norway lol!

Common misconception with overseas study #1: The only source of funding is from one's uni's international office.

There are lots and lots of other sources of money other than your international office. Try your relevant department and elsewhere online. Generally you'll have more luck if you're learning another language (I know you're not); eg if you're going to a German-speaking country, the DAAD is invaluable and links to numerous sources of funding.

[angelinabak]

8500 is definitely not enough money if you wanna enjoy a exchange student life the way its suppose to in london. and dont forget about ryanair.
its so cheap to fly out of london into the almost every corner of europe.
and you will use the opportunity! trust me!
even if you live outside of london, the public transportation is pricey as well.
of course you can pull it off with 8500 but if you can save more SAVE MORE
have fun in the UK

[Peartie]

i went overseas with ~15000AUD (incl a grant from uni) and got income of ~300AUD per fortnight (thanks centrelink :P) .... I came back with ~3000AUD = spending of approx 16000AUD (all rent, food, travel money etc).....

Hope that gives a rough guide...depending how much travelling you want to do i think the 13-15 thousand is closer to the mark....

there is also OS-HELP from the Australian Government....pay it back just like HECS-HELP....