Working Holiday Australia

How to save for an Australian Working Holiday

December 20, 2022

Sven's guide to saving for an Australian Working Holiday

So you've decided to take an epic gap year and go on an Australian working holiday. Congratulations! This is going to be an experience of a lifetime. But before you start booking your flight, there's one thing you need to do first: save up enough money to support yourself during your time Down Under. So here are a few tips to help you make it happen.

Create a budget: 

The first step to saving money is knowing how much money you need to save. To do this, you'll need to create a budget that considers your living expenses, travel costs, and other necessary expenses for your working holiday. 

Still trying to figure out where to start? 

Many online resources and budgeting tools (like Mint or YNAB) can help you get started.

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Set realistic goals: 

Once you know how much money you need to save, you can start setting some realistic goals. 

Depending on your current financial situation, saving for your working holiday might mean cutting back on discretionary expenses like eating out or shopping and instead setting that money aside each month. 

It might also mean getting creative with how you earn money—for example, taking freelance work or picking up extra shifts at your job. 

Whatever it is, make sure your goals are achievable, so you don't get discouraged along the way.

Give yourself some time: 

There's no magic number for how long it will take you to save up for your working holiday, but as a general rule of thumb, the sooner you start saving, the better. 

Try to give yourself at least six months to a year, so you're not scrambling at the last minute. And remember—if it takes longer than expected to hit your savings goals, that's OK! 

Just stay focused and keep chugging along until you reach your goal.

Saving for an Australian working holiday doesn't have to be daunting—it just takes some planning and dedication. By following these simple tips, you can make your dream trip Down Under a reality in no time. Bon voyage!

The information provided in this article is for your information only. While all care has been taken in the preparation of the article, Sven Global Pty Ltd makes no representation or warranty as to, or accepts any responsibility for, the accuracy, reliability, completeness or currency of the information, its usefulness in achieving any purpose or your reliance upon it.

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