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Government calculator aiming to combat rising living costs

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A new tool has revealed the outrageous cost of starting a life in Australia, with students encouraged to be realistic in their expectations when planning to move down under.

The cost of living calculator, developed by Austrade’s Study Australia, helps students estimate how much it could cost to have different lifestyles across the country.

Among the functions of the interactive calculator is allowing users to compare accommodation arrangements and transportation options in different cities.

The tool also shows students how much the likes of eating out, going to the gym, haircuts and phone plans cost in each part of Australia.

However, the prices are far from cheap for those seeking a comfortable lifestyle, with “moderate” selections setting a student back more than $1412 a week in Sydney.

This cost is compared to $1325 in Melbourne, $1352 in Brisbane and $1082 in Adelaide.

Among the expected prices were a mammoth $745 for a one-bedroom apartment in Sydney along with $72 on entertainment, $237 on food and $63 on transport.

These figures amounted to $38,740, $3,744, $12,324 and $3,276 respectively each year for a student living in Sydney.

The calculator estimated a student’s budget would need to be $73,424 if all “moderate” lifestyle options were selected.

Austrade said the prices should be taken as a guide only and can vary on a student-by-student basis.

Significant sets of data have been collated and calculated based on a set of rules and logic.
“For example, when researching share house costs, a wide range of data inputs were used to determine 36 separate room pricings,” the website read.

“Providing additional information as context for the questions being asked helps to manage expectations.”

There were more than 550,409 international students studying in Australia between January and August 2022, according to the Department of Education.

This figure is a huge spike from the proceeding two years when the figure dipped below 300,000 during the pandemic.

Story Credit: news.com.au

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