Life After Graduation: Cost of Living Alone in Australia

Upon completing your graduation from an Australian university, transitioning to a new phase of life as a fresh graduate can be exciting, but it comes with its own set of financial challenges. One crucial aspect to consider is the cost of living. In this guide, we explore the average expenses a single person might face in Australia, providing a clear picture of how much it costs to live alone after graduation.

Understanding the Cost of Living Across Australia

The cost of living can vary significantly depending on the city or region you choose to live in. This article focuses on the cost of living in Sydney, a city known for its high cost of living. However, regardless of where you get your education from, the costs will remain similar within the same region. This article aims to provide a comprehensive overview of the monthly expenses you can expect, helping you plan your budget effectively.

Monthly Expenses for a Single Person in Sydney

For a single person in Sydney, the following monthly expenses are typical:

Rent

Assuming you find a cozy 1-bedroom unit, the rent is estimated to range between:

400 to 500 AUD per week 2000 to 2500 AUD per month

This budget can be adjusted based on your preference and location.

Utilities

Utilities such as electricity, gas, and water are estimated at:

Electricity: 60 AUD Gas: 60 AUD Water: 60 AUD Total: 180 AUD

Traveling

Transportation costs include public transport for 5 weekdays and occasional outings:

Public Transport: 250 AUD per month Outings: Additional 100 AUD per month (for a total of 350 AUD)

Grocery

Grocery expenses can vary based on your dietary preferences and eating habits, but a rough estimate is:

500 AUD per month

Shopping

For occasional shopping, a reasonable estimate is:

Once a month for 300 AUD

Cellphone Bill

A standard postpaid plan can cost:

50 AUD per month

For those not on NBN (National Broadband Network), the cost may be higher.

Occasional Coffee Eating Outside

Enjoys an occasional coffee or meal out:

15 AUD each time for 10 times a month: 150 AUD per month

Basic Private Health Insurance

To cover basic healthcare needs:

150 AUD per month

Common Medicines

Basic medical supplies and common medicines:

30 AUD per month

Breakdown of Monthly Total Expenses

Adding up all the monthly expenses, the total amounts to:

Rent: 2000 - 2500 AUD Utilities: 180 AUD Traveling: 350 AUD Grocery: 500 AUD Shopping: 300 AUD Cellphone Bill: 50 AUD Coffee Eating: 150 AUD Health Insurance: 150 AUD Medicines: 30 AUD Total: 3600 - 4000 AUD per month

Including Entertainment and Gadget Shopping

Essential entertainment and shopping for gadgets depend on your lifestyle choices and can be added to this total:

Entertainment: Additional 500 - 1000 AUD per month Gadget Shopping: Additional 500 - 1000 AUD per month

For a fresh graduate taking home a salary of 70,000 AUD after superannuation, monthly expenses of about 3600 - 4000 AUD constitutes a tight budget. Spending the extra 4500 AUD per month would leave you living 'hand to mouth.'

Final Thoughts

Transitioning to a new life as a fresh graduate is a significant milestone, and planning your finances is crucial. The key takeaway is to create a detailed budget and prioritize expenditures to ensure you can cover essential costs while allowing room for personal enjoyment.