Students set to suffer from Budget decisions

A lot of people were unhappy with certain aspects of the government's Budget announcement – but it is maths and science students who have the biggest cause to grumble.

The authorities have made a number of cutbacks and have issued new charges in an attempt to achieve a surplus.

According to the Australian, academics taking university courses in maths, statistics and science will have to pay $8,361 for the privilege – almost double the current contribution rate of $4,696.

Existing students will continue to pay the lower fee until 2015, but those who have yet to enrol on such a course will face the extra expense from January 2013.

When broken down, youngsters will lose an additional $70 from their student bank accounts each week.

Studying can be financially draining and academics need to learn how to make savings very quickly. However, there are a few tried and tested tips that have stood the test of time.

Avoid costly bars and restaurants when on a night out and try to set up a cooking rota if you are sharing accommodation with other people. This will help make grocery shopping far more affordable.

Have a question about student banking? Ask the money gurus at Mozo Answers.