r/melbourne • u/Status-Experience935 • 16d ago
THDG Need Help Moving out - need to understand the finances
Hello everybody!
I am 18 years old, currently in university as well.
I want to move out and I’m not quite sure how much anything will cost since obviously i’ve never lived alone.
I’ve seen a few youtube videos showing you can really get food down to $30 a week, and so with my current budgeting I was thinking I could do the following :
$400 a week rent, bills included ($1600 a month)
$50 a week food ($200 a month)
$30 a week Gas ($120 a month)
Miscellaneous, going out, random payments etc $100 a week, ($400 a month)
That is $2,320 a month.
Is that actually feasible or is that unrealistic budgeting?
P.s. Once I move out, I really can’t move back in, that’s not how it works with my family 😊
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u/somewhatundercontrol 16d ago
Can you afford a pizza once a week or once a fortnight? Couple of beers at the pub every now and again? Visit to a doctor that doesn’t bulk bill? Unless you already have one that does bulk bill.
Will you have a freezer where you can safely store food and not have anyone else take it? You might want to think about meal prepping once a fortnight or once a month and freezing meals. That way you can cook in bulk and hopefully the food lasts longer. But then you might want to save up for the first big shop.
Around once a month you need to buy one or more household items. Toilet paper, shampoo, conditioner, dishwashing liquid, cleaning supplies. These are the things that actually drive up grocery bills.
If you have a car, factor in rego, insurance, servicing.
Maybe a few hundred a year for clothes or shoes.
Not sure if it will be essential for you, but you may also want a small gifts budget. Friend’s birthday family, Christmas, etc.
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u/somewhatundercontrol 16d ago
Also, if you’re living away from home, check if you’re eligible for youth allowance, and rent assistance. I’m not sure how much you’re allowed to earn if receiving those, as there is a cap on the amount of additional income, you can earn. But that may be worth looking into.
Also not sure about eligibility for a healthcare card, but that could get you discounts on certain things if you are eligible.
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u/somewhatundercontrol 16d ago
One more from me, because it seems like you’re going to be on a very tight budget so you need to be more accurate.
$50 per week is $216 per month.
50 x 52 / 12
So you might want to adjust all of your figures to work out a more accurate monthly amount.
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u/RepublicReady8500 16d ago
This is one of the most important things to note. $400/wk rent is actually $1,733 per month, so thats already $133 per month OP didn't factor in, plus anything else he's budgeting weekly.
They're probably a good few hundred under on their current budget, before adding the other costs they forgot that other commenters mentioned.
And honestly overall, while doable, its challenging and uncomfortable to live on less than like 3.5k per month. Realistically need to be earning 4.5-5k per month to be anywhere close to the golden rule if housing costing 30% of your income (but that's dreaming for most).
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u/Status-Experience935 16d ago
Wow I didn’t even think of that. $1,733 would be crippling if I hadn’t accounted to it. Thanks for that I’ll adjust using the formula you guys have given me
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u/Status-Experience935 16d ago
high iq point here, high iq all over. Thank you for your points and I will be taking them into account. Definitely right there are a lot of leeway I need to put in the budget so that I don’t end up with no rego and shampoo
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u/somewhatundercontrol 16d ago
Do you already have a car? If not, then you can find a share house close to Uni, maybe PT would be cheaper.
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u/dirty_weka 16d ago
Toss in other expenses too, new mouse/keyboard/study related material.
Clothing, personal care (haircuts, anything else you get done, physio etc), sports/fitness/gym of some form (even running shoes), any setup items you might need (iron, desk, kitchen stuff), on going repairs and maintenance of your stuff (everything breaks down eventually).
The list goes on.
Definitely try and save up a bit of a buffer for those types of things, can be difficult to budget for some.
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u/DancinWithWolves 16d ago
A realistic budget;
$400 a week rent/bills
$90 a week groceries
$50 a week petrol (why are you calling it gas??)
$50 a month phone
$50 a week savings fund
$300 a week miscellaneous expenses/spending
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u/sendmemesyeehaw 16d ago
can definitely pay less than 400/wk in a share house. my friends currently split rent on a large 2 bedroom in st kilda & pay around 280 each/week including utilities. when they were in sharehouses w more people, they were paying closer to 200-250/week.
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u/DaveBinM Emoji enthusiast 16d ago
Can do groceries for less than $90 a week, easily. I budget $70 a week (for three meals a day), and am regularly under that, sometimes under $50. That also includes buying things like toilet paper and cleaning supplies in my weekly shop too.
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u/Kael_Doreibo 16d ago
And when you were 18, was that happening? Dudes in Uni. I didn't have the strictness to meal prep for between classes every day.
You and I can probs do it now but let's be generous with budgeting. Extra savings can go toward the things we used to get up to after tutes and lectures. Or a trip overseas for a gap year/post-grad.
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u/DaveBinM Emoji enthusiast 16d ago
Perhaps I was more self disciplined than most. I had no issue making things to take for lunch. Still make and take my lunch to work each day. Just how I was brought up. 🤷♂️
Plus, being more frugal with some things, like groceries, gives more savings for holidays or the like.
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u/Kael_Doreibo 16d ago
Correct, hence budget for more, save more. And good onya for having that diligence, but trust me, it isn't the norm. Let's give the kid a fighting chance.
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u/DaveBinM Emoji enthusiast 16d ago
Just different ways of doing things, I guess. For me, it averages out to about $70, some weeks a wee bit more, some weeks a wee bit less. My savings are just what I budget to save, and anything not used for my grocery shop each week just stays in my bills account as a bit of a buffer for whatever. 🤷♂️
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u/dustbowlbride 16d ago
Where the hell are you shopping. Teach me your ways.
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u/DaveBinM Emoji enthusiast 16d ago
Usually just Coles. I buy things when they're on special, make everything from scratch, and plan out my menu each week. I have almost no wastage as well, which I think helps.
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u/Status-Experience935 16d ago
Thanks to all of you for the nice words - I appreciate the focus on diet. Good point about getting up to things after uni, need to consider that with the budget as well.
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u/DaveBinM Emoji enthusiast 16d ago
Focus on diet has always been one for me. I’m a T1 Diabetic, so I’ve always been extremely aware of what I eat, so I know how much insulin to have 😅
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u/DancinWithWolves 16d ago
Yeah but I’d rather budget more and eat healthy, varied stuff and not sweat every trip to coles
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u/DaveBinM Emoji enthusiast 16d ago
Who says I’m not eating healthy, varied stuff? I don’t sweat trips to the supermarket, and have plenty of budget for treats.
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u/DancinWithWolves 16d ago
Okay?
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u/DaveBinM Emoji enthusiast 16d ago
My point was more that if they're a very budget-conscious person, they can do well with well less than $90 a week.
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u/legsjohnson 16d ago
Do you have a job yet? Savings? I wouldn't even be thinking about budgets until you had funding.
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u/Status-Experience935 16d ago
I run a tutoring business and I’m clearing $3,000 a month now with $5,500 savings. Your point has got me thinking I should probably get a job as well just for the stability.
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u/Harai 16d ago
Is that $3K pre or post tax? I moved out a bit over a decade ago in a share house earning $40K pre tax and that was tight back then. I think you're going to struggle on that income. Your budget is also really missing a lot of things like rego, insurance, phone, clothes, PT etc. $50 a week on food seems difficult.
Also, shit is really expensive now, that $100 a week for basically everything else is not going to stretch very far. Unless your situation at home is really bad I'd reconsider this move until you're in a better spot if you can.
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u/FeelingTangelo9341 16d ago
I'd probably consider upping the food to $100 for the first few months.
You don't have any pantry staples: oil, osy sauce, big bag of rice, salt, spices, tea and coffee, unexpected things like a wooden spoon or collander. Your first shops are expensive.
It also means you have $15-20 a week spare. Maybe it's toothpaste and shampoo, maybe it's soem snacks because friends are coming over or you're exhausted and sick and want a couple of convenience meals.
You can do $50 but it assumes nothing ever goes wrong or is unexpectedly expensive and that's not realistic.
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u/Status-Experience935 16d ago
Crazy attention to detail didn’t even think about all this and cutlery, tho I could probably just steal that out of my parents house
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u/symphonyofcackles 16d ago
Op shops are your friend! Or local buy nothing groups (only reason I still use Facebook apart from marketplace) for setting up a new home. Random kitchen items, chairs, tables etc
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u/FeelingTangelo9341 16d ago
You can find a lot of the STUFF around for free or cheap but the first shops are still going to be more expensive than expected.
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u/Good_Air_7192 16d ago
I moved out at 19 and it was the dumbest thing I ever did. Unless your family life is shit don't do it.
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u/MaximillianRebo 16d ago
Keep in mind that almost all months are 30/31 days, rather than a flat 4 weeks. It might only seem like a small difference, but over the course of a year that's an extra 2 weeks that you need to need to find space for in your budget.
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u/Status-Experience935 16d ago
Yup thank you so much for that. Two other people also mentioned it. I’d suppose a week should be truly calculated as Weekly Price * 52 /12 to get the true monthly cost!
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u/Random_Sime 15d ago
Also 52÷12 = 4.333...
So you can just multiply any weekly rent by that for quick maths
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u/noobule 16d ago
You can do way better than $1600 a month in rent, even in this economy.
Where are you planning to stay? Are you sharehousing?
Your budget doesn't have any savings. Apart from everything else, you need savings for when your shit breaks, which it will do constantly. And sometimes your shit that breaks is you.
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u/snowmuchgood 16d ago
Only a little more than 10 years ago, we rented our fairly new 3 bedroom townhouse in Ivanhoe for $1600/month. Cannot believe that’s a somewhat realistic price for a ROOM these days. Renters are so fucked over by society in Australia.
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u/Status-Experience935 16d ago
Will take into account cheaper rent and more savings, do you have any specifics figures in mind? I really don’t want to share a house though because I hear horror stories all the time, regardless I think I just want to have my own personal space away from everyone.
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u/noobule 16d ago
You're budgeting $50 a week for food and not putting aside savings - you literally cannot afford to live by yourself.
Sharehousing is fine, anyway. Horror stories happen but horror stories happen with literally everything - you drive a car despite what that could do to you. Clean up after yourself and have some tolerance of your housemates weirdness and you'll make great friends sharehousing. And being responsible for yourself and out from your parents nose is worth the risk anyway.
You can peruse something like Fairy Floss real estate on Facebook to get a feel for what rents are going around across Melbourne
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u/chonky__chonker 16d ago
If you’re not wanting a share house then you need all of your own furniture, white goods, etc.
A basic set up would be bed, couch, fridge, desk with chair, coffee table (unless you plan to eat at your desk), then maybe a washing machine if you want the convenience and not have to go to the laundromat.
Keep in mind, if you’re not renting something with a built in wardrobe you’re going to need somewhere to store your clothes and shoes.
You’ll need savings just in case these things break (I’ve needed a new dishwasher and new fridge in the last 12 months - dishwasher is my responsibility because I own).
Also, a chunk of your savings will disappear into your bond if you’re renting solo (so a month’s rent and your first month’s rent will few that up quickly).
I would suggest if home isn’t a bad place for you right now (no violence) then stay home as long as you’re studying and save your arse off.
When you’re done with uni and have a job, then move out. You’ll be much more comfortable this way.
Living on your own is great, but having the ability to focus on your studies and not have to worry about a roof over your head and the possibility of having to move every 12 months or a rent increase that you’ve not budgeted for because your budget is already tight might be a better option for now.
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u/sirachaswoon 16d ago
There’s far more sharehouse wins than horror stories, you just don’t hear about it. Data issue. I’ve sharehoused my whole twenties and have either had constant sleepovers with best friends, made new best friends or had a jolly time with nice people who weren’t entirely my people. You also may learn heaps of skills, meet more people and have cool experiences… a house party, joining a dinner party, sharing things and ideas. Personally, I’d much rather save a couple hundred dollars, share chores, occasionally take turns cooking and also have extra money to go to a gig with my housemates… or for my own things And also live in a cool area because I can afford it.
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u/KaffaBlue 16d ago
Your budget sounds technically feasible, although $50 a week for food is very low. This would mean no snacks, no meat, no drinks, etc. Definitely possible if you've got the right amount of discipline, but it's better to be realistic when budgeting. I'd bump it to $75 at least.
I don't know what you mean by gas- petrol, or the utility bill? $30 a week seems low for petrol but high for a utility.
You've also got to consider stuff like internet (usually not included in rent), your phone bill, public transport fares, etc. This will eat up your $100 in misc spending pretty quickly.
Realistically, it's tough to estimate what your expenses will be until you're actually living on your own. I moved out in 2022 and it took a couple of months to find a 'baseline' for expenses- after that I started budgeting properly.
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u/Status-Experience935 16d ago
Oh wow okay, I’ll have to have a lot more savings than I think and then also be ready to spend much higher than expected then
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u/demoldbones 16d ago
First thing that jumps out - when you pay rent it’s monthly, generally not weekly - so bear in mind that it’s calculated differently - 400 x 52 / 12; so it actually works out to $1,733 per month for rent.
$50/week for food is LIGHT. You don’t be eating a lot and it’s gonna be bland AF unless you have an upfront budget for a BIG shop for spices, sauces etc.
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u/binaryhextechdude 16d ago
Never paid a monthly rent in my life. It's paid fortnightly.
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u/demoldbones 16d ago
I’ve never known anyone who pays anything other than monthly. And the half a dozen rentals I’ve lived in in Melbourne have all been paid and priced at monthly rates 🤷♀️
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u/binaryhextechdude 16d ago
$30 a week for food? Sure if you have porridge for breakfast everyday, beans and rice for dinner and soup with a slice of cheap white bread for lunch but ask yourself how long you are going to put up with that for? I can spend $30 in a week on milk, eggs and bread. It's not realistic.
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u/No_Category_9888 16d ago
$50 a week for food and groceries worked for me in 1998
(Toilet paper, tissues, etc)
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u/salinungatha 16d ago
Consider clothes, pharmaceuticals and healthcare, car costs not including petrol, haircuts, birthdays and special occasions, subscriptions etc
Also moving in expenses may apply. Furniture, cookware, share of bond etc
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u/Status-Experience935 16d ago
cookware was def not something i thought about at all
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u/salinungatha 16d ago
If you're moving into a sharehouse most of what you need will probably be available to you (check first). Otherwise op shops.
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u/SlurringMonk 16d ago
Why are you moving out? If it’s not a situation where you are having tension with family?
If it’s simply wanting to be independent, why don’t you participate in running the household for a few months or even a year, take over doing grocery shopping, actively review and monitor bills, set a portion of money aside as if you paid someone for rent/bills/shopping, while manage your own financial numbers and see if you would survive. It’s very easy to have an arbitrary number but if it’s sustainable in your situation is anyone’s guess. Do the numbers live while you are not required to face the financial consequences would be the smart move
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u/risinglotus 16d ago
18 years old to move out without option to move back in sounds way too young tbh. Unless things are awful at home I don't think it's worth it for you at all
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u/Status-Experience935 16d ago
Yeah that’s a very valid insight as well, can’t really risk being in shelters etc I really get your point as well. Things at home are uhhhh dynamic to say the least
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u/risinglotus 16d ago
Sorry to hear it's not great at home. If you think living on a tight budget independently without a backup plan will be less stressful than being at home that's a very consideration.
As somebody who was once on $80 groceries budget a week and that was like 8 years ago, I even found that quite difficult.
I would suggest if possible to try live on that budget right now whilst still being at home and see how you go. Definitely recommend doing bulk cooking and meal prep for the week as best way to get bang for buck and limit waste.
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u/sphynxmoth 16d ago
You will be living paycheck to paycheck, it wont be fun. Share housing these days is approximately $250 per week in Werribee. If you can stay at your parents to save some money for yourself, do it. Yes thats hard too, but unless you're in a toxic situation it's the wisest option while you're young.
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u/Status-Experience935 16d ago
I hadn’t really taken into account what random emergencies might happen but I can assume there would be
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u/PrestigiousTea2 16d ago
Currently in Werribee in a new townhouse (not luxurious but the basics are fine) for $150 a week. Werribee can be stupid cheap
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u/sphynxmoth 16d ago
It definately can. I had a passing look for a place that was at least close to the train and town centre.
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u/echowarrior3 16d ago edited 16d ago
Where are you going to live and how far away is that from your place of work? It can be a huge factor in how much rent you pay.
Expensive rent = desirable area with many others also want to live there. If it’s close to your work, you can save on vehicle related costs and even taxis as you will probably be going out close to home.
But if you move further out, you can (almost) get a whole freestanding house for that price monthly. You’ll probably spend more on fuel, taxis etc and add a lengthy commute, which gets pretty old quickly. (I rent out a 3 bed house for $450 p/w and it’s 15kms from the city. I live 5kms closer and share house rooms are being rented for the same price here!)
As far as eating etc, learn to cook basic meals. Eating out constantly because you can’t even boil an egg is going to destroy the budget. Become friends with beans and legumes - they’re cheap, filling, nutritious and can be added to bulk up almost any meal. Instant noodles can be bulked out with vegetables - frozen is fine - to at least keep your body fuelled.
Never just shop at one store - buying from multiple stores saves more than you think. Buy day old bread from the bakery (great for toasties, toasted burger buns etc). Buy in bulk where possible - just one item each time you shop will start to add up so you have a little staple supply to lean on when funds are short. Try places like Cheaper By Miles or Not Quite Right for stretching the budget
Don’t buy herbs, grow them instead. They’re a free way to elevate bland or repetitive dishes.
Will all bills, shop around. Frequently. It’s ridiculous how many increases occur without really being noticed. $50 for a phone bill sounds high - I’ve been on a $30 plan for decades with Amaysim. They just keep throwing more benefits in with no extra cost - there’s no way I even use 10% of the allowance which is unlimited AU calls and unlimited calls to designated countries abroad + 40G data. There’s a lot of deals around if you go looking
There are even online groups where members just share tips on saving or cutting costs. It will be tough paying for everything in this economy but it is possible
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u/Altruistic_Serve9738 16d ago
By gas do you mean petrol? That means you own a car which means you need registration, insurance and to pay for servicing/maintenance.
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u/Arthosian 16d ago
Also don't forget to have a few weeks worth of your budget in savings you can access immediately if necessary. 3 months worth would be great if you could do it but if not then be at least 1 month ahead. Especially if you'll be living in a share house where you're all named on the lease because if the worst case scenario happens and suddenly your room mates leave then you're on the hook for the whole property's tent until you find other people to share with. That's one big reason that doing a rooming house situation where your lease is for just a single room can be safer if you're very low income or don't have an emergency fund.
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u/Status-Experience935 16d ago
Sounds like you’re speaking from experience. Very cool to hear this because it may be very niche but it’s such a real scenario
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u/Xaropit_ 16d ago
Dude food is at least $50/w, I think I spend $120 or so with multiple dietary restrictions
Also think about bond, and furniture, and other expenses. Toiletries, medication and health expenses, subscriptions. I'd aim to have at least 2-3 months of all your expenses in savings so that if you lose your source of income you're not immediately screwed and homeless
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u/LolaViola 16d ago
Double check the cost of going to your GP (if it isn't a bulk billing clinic). Budgeting for the GP is important, so you can catch illnesses while they are small. Best of luck for this exciting new chapter!
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u/palefire101 16d ago
Your best bet is to find a share house with other uni students, then you can get a room for about $200-250pw cook together etc. Groceries budget closer to $100 pw. Include going out expenses too.
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u/CRSMCD 16d ago
Do not move out! Stay at home and save as much money as possible. Jesus.
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u/HistoryCapital3147 16d ago
Ugh some people don’t have nice or supportive parents. It builds independence and freedom moving out, I moved out at 19 with just a waitress job in a share house and I made some incredible friends, OP if you can do it then do it! People who don’t have support parents won’t ever understand money can’t buy freedom
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u/Status-Experience935 16d ago
I don’t really understand the point of your comment at all. Jesus.
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u/CRSMCD 16d ago edited 15d ago
Unless you’re in a bad situation at home. Do not move out yet. It’s so expensive. Pretend you’re paying all those bills and put it in a savings account for the next 3-5yrs or until your parents ask you to move out. Once you’ve left home and are paying rent and bills it’s extremely hard to save a reasonable amount of money.
$1600 a month alone over a year is $19,200. Over 3-5yrs that’s a house deposit.
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u/LongConversation2546 16d ago
Realistically you need $100 week for groceries, same for weekly petrol (and budget for insurance roadside assist, rego, and regular service on top) Double that for rent and bills.
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u/blackcurrantandapple 16d ago
Which videos are you looking at for food budgets? $30/week for groceries sounds like USD in a major city.
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u/Status-Experience935 16d ago
https://youtu.be/B3z7aG5DZO8?si=rrXe_dh0OhjjKfVL Here ya go! Def not appealing or not miserable but it’s an example and I figured $20 extra adds something
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u/CoastalWaterBoy 16d ago
If you have the opportunity to stay at home and all is well with your family dynamic, then there’s absolutely no shame in taking advantage of it. I do believe you after underestimating your budget a little bit, but even if you are able to survive with that amount, that’s most likely all you’ll be able to do, survive. The feeling of moving out is soooo good, to get your own space and feel more independent, but you really need to understand if you’ll be able to get ahead with your budgeting, or if you’ll just exist and not be able to progress. Just some insight man, we’re in the worst Cost of living crisis, we have been dealt a real bad hand, and you’ve sadly got to play it real smart just to not get thrown in the gutter. All the best mate.
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u/Status-Experience935 16d ago
I love this insight, it’s different to every1’s mathematical insight yet very valuable. I guess it’s about seeing my chances. I’m in my first year of law, so I think i’d be fine to progress once I do finish university. But as you said and as other people’s comments have mentioned, this budget is underestimated and a slight increase is just bare bones survival so I need to weigh up independence and autonomy over the pleasures of living with daddies money
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u/hulk-bogan 14d ago edited 14d ago
you dont have to see it as "living with daddys money." staying at home is smart. if you already have a roof over your head and your situation isn't dire, you are at an advantage. if you move out for no real pressing reason, just because you are 18, i promise you, you will lose that advantage. my suggestion is to stay at home at least until you finish your degree and find a job in your field, in the meantime putting whatever you can into your own savings account to gain interest on it. being at home in your early 20s is a good opportunity to experiment with your finances, learn how to budget, etc. before moving out. make mistakes while you have a safety net, especially if your family is saying they wont let you move back in.
that said if you feel you have no choice but to move out, best of luck to you
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u/lisey55 16d ago edited 16d ago
Do you have any savings? As others have said, you're missing a lot from your budget. This will make things really hard because you're working with such small numbers and there's not a lot of room for error. Are you already used to living in a frugal way? As a student you can get away with a lot, but it's not easy. Try to give yourself a buffer if you can before you make the leap. You want to give yourself the best chance you can at your studies so you don't want to be choosing between work (food, water, warmth, light) and school all the time. Also consider that the kind of work that you get as a student is often unpredictable in terms of hours and rosters and you might have periods of unemployment.
Keep in mind that just the act of moving out can be really expensive (think hiring a van and movers if you have no help). If you're living by yourself you'll have to think about your bond (and if you lose it, how you'll pay for the next bond). How stable will your housing be and do you have the ability to absorb rent rises? If you live in a really cheap place, you'll have to consider extra things to keep warm, cool and mould-free (and therefore healthy!).
You'll also need thing like dishes, kitchen utensils and saucepans, basic spices and condiments, cleaning tools (Inc vacuum) and products, towels, laundry detergent, sheets, blankets, basic furniture, basic tools, potentially a fridge and washing machine (or money for laundrette!), potentially window coverings, and maybe a laptop. Will you need to buy things for uni? It sounds like maybe you don't have a car (?) so public transport will need to be considered too. If you do have a car there might be extra costs you haven't considered like roadside assist, parking fees and fines, repairs and cleaning. There's also costs for your phone (which might provide your internet access too) and if you want to have any subscription services. Then there's things that you might only need to do a few times a year like doctor, dentist, haircut which should be included too.
It's worth trying to do a rough estimate on personal products too. You can estimate how much you consume in a year and budget it in. Include things like shampoo, conditioner, moisturizer, face cleanser, soap, toothpaste, deodorant, razors, any cosmetics (I.e. foundation, mascara, concealer), birth control and a first aid kit with basic medications.
I've definitely overlooked some things but try to get as granular as you can with your budget, even if it seems silly.
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u/pancakedrawer_ 16d ago
You should move into a sharehouse to drastically reduce the cost of rent and bills. My years in a sharehouse were the best.
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u/SunburntWombat 16d ago
$400pw is about how much sharehouse costs nowadays. That's $300 rent, and the rest water, electricity and internet.
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u/JimmyLizzardATDVM 16d ago
100%. It’s obscene.
My first sharehouse on the goldy in 2007 was $84 a week for my room.
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u/Wolf3188 16d ago
Hell I moved out in 2016 and I was paying $90 a week for a master bedroom with walk in robe and ensuite, house was only shared with 2 other people. It was great.
$200-250 seems to be the minimum these days and half the time it's 5+ people. Rough going.
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u/lorealashblonde 16d ago
My first sharehouse I was paying $60 a week (to be fair this was in mount gambier, and it was 2009).
I only worked 2 and a half days a week, spent the rest of the time partying and making music, and STILL managed to save over $4k that year so I could move to Melbourne.
Times have really changed :(
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u/sendmemesyeehaw 16d ago
can definitely pay less than 400/wk in a share house. my friends currently split rent on a large 2 bedroom in st kilda & pay around 280 each/week including utilities. when they were in sharehouses w more people, they were paying closer to 200-250/week.
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u/pancakedrawer_ 16d ago
Plenty of cheaper places in Footscray, Kew etc. The place in Footscray is $167/week per bedroom. That would go even lower if there was a couple. Plus bills like internet would be cheaper. Both of those houses are pretty similar to what I was sharehousing in.
120 Ballarat Road, Footscray, Vic 3011 - House for Rent - realestate.com.au
50 Princess Street, Kew, Vic 3101 - House for Rent - realestate.com.au
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u/Status-Experience935 16d ago
My parents are very traditional and my mum has made it clear that if I move out before getting married she would never speak to me again. But I completely understand the whole moving out will be a relic. The comments here have shown me i’m so far out of my estimate and if I don’t get an actually skilled full time job it’s unlikely I could move out
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u/risinglotus 16d ago
Yeah what the fuck type thinking is that. I reckon about half my friends have had to move back with parents for one reason or another, I've got friends in their early 30s having to move back home. It's rough out there.
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u/Status-Experience935 16d ago
hahahaa it’s because they see it as a betrayal etc, plus they would think i’m just moving out to be a complete degenerate. It’s kinda like you stay at home and deal with our shit or you leave and we never talk to you again
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u/maybeiamloosingit 16d ago
I think all of these amounts are EXTREMELY low. What about healthcare, dentist, haircuts, fun money, emergency fund, savings etc? Just food for thought.
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u/prexton 16d ago
How do you know you'll have gas at the house?.things are moving away from.plumbed gas
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u/SmarnzSheepy 16d ago
They mean petrol I'm pretty sure
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u/fear_eile_agam 16d ago
Ah, as in "gas money to pay back friends who offer me a lift" that's plenty.
But if it's petrol money for their car then they are missing some important budget items for car insurance, maintenance costs and rego.
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u/starmecrazy 16d ago
Some, or all of this may have been mentioned.
$40 for food won’t get you much, try $70.
Are you PTing? Factor that in.
Are you driving? Factor in rego and maintenance and insurance.
Contents insurance.
You need to try and save a little, just in case.
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u/Lumpy_Salamander2 16d ago
Yeah it took me years to learn the real-estate rent trap too. $400 per week isn't $1600 a month. That's how they get you. It's $400 x 52 weeks ÷ 12 months = $1733.33 per calendar month, or$20,800 a year. Which is a lot of money per year just for rent. Last year I had to pay rent for myself and my partner because she was sick and couldn't work. It was $800 a week. I ended up spending a house deposit worth of money on 1 year of rent
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u/Emberthane 16d ago
50 a week on food?! Goodness me. Also, careful as you've said "gas" so I assume you're following an American guide which would be 50USD not AUD.
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u/SophMax 16d ago
For rent, unless you are opting for share-housing then you'll need way more than that.
For food, I am living by myself and am mainly vegetarian (buy the odd precooked chicken or fresh salmon). I'm spending on average 100/week - that's just on groceries and is an average. There are weeks that I spend more than that and weeks I spend less. From what I've seen what my friends spend in a similar situation that's average to below average. The $30 on YouTube may be based on American pricing and you'll be living off lentils, rice and pasta with no fresh fruit or veg.
TL;dr - no. Not realistic.
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u/sendmemesyeehaw 16d ago
lol this is why i find it funny when people online swear veganism is for the privileged. most of us trying to get by on a small budget are eating essentially vegetarian/vegan by necessity bc meat is expensive as fuck
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u/Status-Experience935 16d ago
I think they legit only used pasta lentils etc like you said and some mixed veggies definitely right thanks for that. The TLDR not realistic was funny
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u/KillTheBronies killscythe 15d ago
I just added up all my groceries for the last two months and I spent on average $53/week. I eat maybe 5 or 6 meals a week with meat (mostly chicken) and at least one fruit and vegetable every day. I just don't snack and never buy anything more processed than tofu, fruit+veg from a greengrocer instead of woolies.
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u/Comfortable-Sound944 16d ago edited 16d ago
Usually a 400$/week rent is 1733$/month at least as a solo renter
It's weekly rent *52 (weeks)/12 (months)
That might not be that way 100% of the times, but pretty normal if you look up places on the main renting sites.
Could say your other numbers should be calculated the same if you look at monthly expenses/income
Assume food and fuel are still going to raise in prices this year. Another thread talked about many restaurants just raising prices yesterday across the board while they were forced to remove or rename credit card fees. Fuel politics is still crazy, I wouldn't expect things to stabilise before late 2028, would be easy for price to rise another 30% till than (random assumption, but like finncial buffer wise 30% is easy rule of thumb for stuff)
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u/Status-Experience935 16d ago
Yeah the whole surcharge thing was such a pisstake by the government. Thanks for the formula every1’s been telling me about it and it’s a great thing to know.
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u/SmarnzSheepy 16d ago
Depends if your renting your own place or share house but let's say your own place
$450 a week rent on the low end
$100 for food. Just cause you can live off canned beans doesn't mean you should, 100 to eat well not worth saving a few bucks imo
50-100 for utilities
$30 for petrol I suppose if you don't drive much
100 for miscellaneous that will get spent, subs etc
100+ away in account for those big payments like rego, car maintenance, doctors, emergencys, fines and whatever else big ticket expenses come up cause stuff will come up
Btw 400 a week rent is more than 1600 a month just saying
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u/Zhangty98 16d ago
The short answer is: Don't do it.
Actually not interested in elaborating, just don't.
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u/Tarlinator 16d ago
Move into a share house and get your rent cost down. Food will be about $100 minimum. Cars cost a hell of alot more than $30 a week. Count in insurance and rego, that's easily $2k a year (maybe more because you're so young). Plus they break down fairly regularly. If you can, sell the car and get a bike or PT.
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u/AddisonDeWitt333 16d ago
OK, assuming that is feasible budgeting (did you forget electricity?), do you have that much money per month?
As a student, I'd start with student accommodation if you can and if possible, as it's good in-between step between home and living on your own.
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u/sendmemesyeehaw 16d ago
can definitely pay less than 400/wk in a share house. my friends currently split rent on a large 2 bedroom in st kilda & pay around 280 each/week (bit less than $1200/month) including utilities. when they were in sharehouses w more people, they were paying closer to 200-250/week. i’d put that extra budget into food, that’s the most expensive thing nowadays.
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u/anaussiemusicfan 16d ago
I was (and still am) surprised how high the water bill is. Some rentals have water included in the rent (because the residence isn't separately metered). Check.
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u/Puzzleheaded-Pie5889 16d ago
With $50 a week for food you'll really need get into cooking in bulk and buying the cheapest ingredients. It's doable but it's like a whole way of life, there's subreddits for it that can help you. I did it for like 5 years and that's how I got a home loan at 24 :D good luck !
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u/SignatureSalty6367 16d ago
Before you make the move definetly trial whether you can actually live off $50 per week for groceries.
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u/Flufflenut 16d ago
I live in a stand alone house in the north, outside the ring road, with my partner both over 40.
We transfer $500 a week each into our "house account" that covers gas, water, rent, Internet, elect, food for dinner, maybe 2 shared breakfast, cleaning products. I will admit we do not suffer weather, we stay warm in winter cold in summer. So our bills are higher there.
He pays Netflix, I pay Amazon , we buy our own lunches and mostly our own breakfast.
We try to shop predominantly at Preston market for food and are very meat 3 veg so shopping at the market works for that.
Being in a relationship means there's stuff that's just kinda paid for without thinking which makes it hard to quantify.
We still need to buy fuel for our own cars, fun things like eating out, buying alcohol, going to events.
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u/Lumpy_Salamander2 16d ago
Unless you need to get out of home, for your mental health etc, I don't recommend it. Shits expensive. Save the money while you can. Or find a room in a share house maybe. But trust me the hours you spend working to pay for everything takes away from your studies, which can effect your career down the line. Trust me I studied and worked for a long time and have only just gotten a decent wage in my 30s because I spent so much time working through uni that it took way longer to finish. That said if you feel you need the space away from family go for it. I moved out as soon as I turned 18 and never looked back
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u/starmecrazy 16d ago
I have an unfurnished room in Moonee ponds that’s about $200 a week. DM me if feasible
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u/Illustrious-Youth903 16d ago
before u move out , try to save up a 3-6month emergency fund for the times where your car breaks down, or u need to buy a new appliance, or random medical costs, etc (idk, just naming a few expensive things that could happen)
also, before u move out, try to save up for or source furnituee for your house if its not furnished. FB marketplace is pretty good.
im.not too sure how competitve the rental market is atm, but it wasnt great last year. but good luck!
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u/universe93 16d ago
You will need at least double that amount for food and even that will be tough. $30 a week for petrol won’t get you anywhere when petrol is over $2 a litre. You also need to factor in paying for your phone/internet and parking, no matter what uni you go to parking will not be free. And your car will need rego and insurance. And your stuff will need contents insurance. Etc etc
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u/LordSparks 16d ago
This is unrealistic. Unless you have a much more pressing reason to move out, don't.
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u/MelbsGal 15d ago
$50 a week for food is okay, I think. You’ll need to do a big shop at first for things like oil, seasonings, condiments….general everyday pantry items that, once you have them, you don’t need to buy again for a while. But you will need to allow for a bigger shop every month or so to replenish these items.
It’s easy to live cheaply on rice, lentils and frozen veggies. You might get sick of it though, so definitely allow for meat once or twice a week. Getting a hot roast chook once a week can provide for several meals; 2 nights eating the legs and wings, chop up all the meat, and eat some as a roast dinner one or two nights, then a risotto with the scraps. Boil up the carcass to make your own stock.
I do think you’re underestimating your other expenses though, the food is the easiest one to budget for. Have you got a specific place you can get for $400 a week including bills?
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u/AnndyEdwards 16d ago
All of the advice above is great. I'm going to correct the rent formula again, that one with 52 in it still isn't accurate. So, incase it hasn't been done:
There aren't 52 weeks in a year. But there are 365 days.
[Formula (Weekly to Monthly) Rent/7x365/12] $100/wk = $435/month.
[Formula (Monthly to Weekly) Rentx12/365x7] $230/wk = $1000/month.
Other than that, I'm so excited for you. Moving out was the best thing I ever did. It's hard and it's messy and you sound smart enough to pull it off.
If you're share housing, I recommend - buy clear plastic tubs to keep your food separate from other people's food.
Other tips: - buy shit vodka in bulk, and mix with Coles brand Lemon squash. - get rid of your car unless you truly need it (or really, really, really want it) and buy a new one when you graduate. - go to King's Domain Academy for cheap haircuts - go to Savers and Op Shops for clothes, and all kitchenware. - but everything you need on marketplace. - don't go to IKEA unless you've browsed online for a particular item. Ikea is resold on marketplace for cheaper. - buy good shoes, don't skimp. Not good brand. Good quality. - buy good food. Cook fresh market vegetables, learn to use curry powder, buy bulk rice, don't skip meat unless you know how to be a vegetarian properly.
book yourself into a dentist twice a year. Or once a year. No less than once.
get ambulance cover. Seriously. Now. It's thousands of dollars for one trip to hospital if you aren't covered, and only $15.00 a year if you do. Victoria is fucked with its ambulance costs. NSW and Qld it's free. Not here though. Google it immediately and sign yourself up.
Good luck friend, study hard!
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u/Specialist-Can1345 13d ago
careful with the shit vodka too.. methanol poisoning is still reasonably common here in Australia. Make your own with a good still if you drink and need to save cash
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u/binaryhextechdude 16d ago
What are you talking about. Not 52 weeks in a year?
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u/Flimsy_Ground_7918 16d ago
Exactly that - there are not 52 weeks in a year. 365 days doesn’t divide into 7 exactly.
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u/starmecrazy 16d ago
They mean $100 a week isn’t $400 a month. There are 52 weeks in a year but not 4 weeks in a month. $100 a week rent is actually $433 per calendar month not $400.
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u/AnndyEdwards 16d ago edited 16d ago
The formula I've given is the Australian real estate standard.
52 weeks is a rough count. 365 doesn't divide into 52 evenly. Days and months are the only hard set numbers in a year, so that's how rents are calculated.
And, also, the colloquial 52 is sometimes actually 53 weeks.
For example, this year - 2026 - has 53, according to the ISO standard.
The ISO rule states that any year starting on a Thursday (or a leap year starting on a Wednesday) gets an extra week. January 1, 2026 lands on a Thursday, which pushes the total count to 53 weeks.
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u/fraqtl 15d ago
I’ve seen a few youtube videos showing you can really get food down to $30 a week
If you are willing to do the university right of passage known as living mostly on 2 minute noodles then yes.
Go look round a supermarket. Figure out what you like to eat, do a test menu for a week then figure out how much that costs. When it's far more than you expected, rinse repeat while cutting the costs where you can.
$400 a week rent, bills included
You are going to be lucky to get that with bills included, although it depends on what living arrangements you will accept.
You won't get an apartment on your own though, you are 18, no rental history and no real job history.
$30 a week Gas
Petrol? Really? That's about 18 litres of fuel. I don't know how far you drive but that's not getting you far unless you ride a motorbike.
P.s. Once I move out, I really can’t move back in, that’s not how it works with my family
So do some legwork mate. Go to the supermarket. Browse realestate.com.au/fairy floss real esate etc. Go to a petrol station. Figure out how far you drive, check your mileage and then do the maths to figure that one out.
You know what you need to pay for, now all you need to do is figure out what it costs.
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u/actualbeefcake 16d ago
Is your health factored in to that 30 dollars a week for food? Your body is how you will make then money to pay for the rest - you will need to feed it.
Where are your phone and internet bills? What are your transport costs? What money are you putting aside for an emergency, or a splurge? Will you be able to buy your friend a pint or gift from time to time? Cleaning products and skin care?