Can You Afford Living by Yourself?
It’s okay to work out if we’re emotionally ready to move out, but the big thing to remember is that it all has to be paid for! Before we do a more detailed budget, let’s just work out roughly how much money you have.
Youth Allowance and Austudy
If you have full-time work, then you already know how much you have. If you’re studying or looking for work, then you may qualify for Youth Allowance or Austudy from Centrelink. Remember, both these payments are subject to an income test and some people may not qualify, either because their parents earn too much or they themselves have too many assets.
Everyone applying has to be personally assessed, but this is just a broad idea of what to expect. If you have worked, however, you may be classed as independent. Check it out. Austudy isn’t available until you’re 25 years old; while there are some exceptions, basically everyone else under that age who is eligible gets Youth Allowance. Who can apply for Austudy? People who:
• Are doing an approved full-time course at an approved institution —secondary education courses, graduate courses (not including masters or doctorates), undergraduate courses, associate diplomas, certain other diplomas, and TAFE courses.
• Are over 25 years of age.
• Meet residence requirements (usually meaning that you must be an Australian resident or citizen).
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