Phase one Post-Secondary School

In this financial portfolio I was start at 18 years old. In this phase I will be taking a gap year
before university, which I need to find a way to pay for. After I will be studying at the University
of melbourne in which I will take up a number of courses. I will also have to find a job in order for
to pay for university and to support myself when living in melbourne.

What options are you considering for further study or work?
After secondary school I would like to take a gap year to see the world with my friends, visiting
new countries, surfing remote regions and exploring jungles, mountains and more. In doing this
gap year I aim to create new relationships and memories. After my gap year I have decided to
go to the University of Melbourne to study the Major of business in the Bachelor of Commerce
which I will need an A.T.A.R of 95.00 to clearly get in. Also I will be doing the Major of film and
television in the Bachelor of fine arts which I wont need any particular A.T.A.R score to be able
to get in. Lastly I will be doing the Major of computing and software systems in the Bachelor of
Science and I will need an A.T.A.R score of 92.00 to clearly get in.

What expenses will incur as a consequence of study or work?
Gap Year expenses (A$)
Equipment - bags, clothing, tent, etc. $1000 (Andrew, 2014)
surfboards x2 $1380 (jsindustries, 2014)
camera $529 (gopro, 2014)
food, travel fees and other $5 800 (roe, 2006)
Total $8709





weekly Fixed expenses A$
Accommodation $210
*Bills electricity, gas, etc. $20
*Telephone $7.50
Internet + Mobile phone bills $20
total $257
weekly Variable expenses A$
Public transport fares $30
*Food and necessaries clothes, toiletries. $70
School supplies $30
Car expenses fuel, insurance, registration $40
Total $170

Note:
Expenses with * have been reduced by 50% because the cost will be shared with
flatmates.
The stated weekly study expenses and establishment costs are average expenses as
indicated by the University of Melbourne (Pincock 2012)





Where will you live?
When Im studying at the University of Melbourne I will stay in a sharing rented apartment. This
apartment will be near Parkville campus (Pincock, 2012).

What income will you have and how will you earn it?

To fund this dream of a gap year I have taken a part time job at Heliguy aerial cinematography
in which I earn a yearly income of A$2800. I will need to raise an estimate amount of A$8709
which is highly achievable considering that I have already started saving and I have at least 4
years of saving ahead. I also plan to take jobs on my gap year so I wont run out of money.

To pay for my study expenses I will take a part time job as a company secretary assistant at
Ranstad and will be working 25 hours per week on the weekends with a salary of $60 an hour
(mycareer, 2014). This will evaluate to $1500 a week and a yearly income of $78 000. I will be
studying on weekdays.







What other financial obligations will you have?

Additional Expenses(A$) Paid in one go, or throughout the year
courses x3 $1800
Impulse buying $5000
Establishment costs A$
Bond $909
*Telephone/Utilities connections $85
*General Furniture $250
Total $8044

Yearly Budget A$ (not including gap year)
expenses $27 248
Income $78 000
amount being saved $50 752
amount saved after 4 years at uni. $200 008



What could go wrong and who can help?
I could lose my job because of a number of reasons. The Australian Government service
Newstart Allowance, can support me financially until I find the right job with a social welfare
payment (department of human services, 2014).