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Estimated reading time
5 minIn this article
- Study after school to get the skills you need for your industry
- Fund a fun adventure in a different country
- Dive right into work to get some experience and earn an income
You’ve survived the final Year 12 exams, said ‘see ya’ to your high school and are ready to conquer the world – congrats!
But what do you actually want to do now that school is done and dusted? Luckily, there are plenty of different pathways you can take now that you’ve finished high school.
Study up (again)
Some school leavers do further study right after high school to unlock an ideal career path in an industry that interests them. For example, if you want to turn your passion for gaming into a career, then there are plenty of courses for that. If you had your heart set on a specific industry like healthcare or science or law, many entry level jobs come with minimum study requirements, such as getting a bachelor’s degree.
But if you’re not exactly sure what area you want to work in, studying can help you explore your passions until you click with a particular field.
The best part is that there are five different government schemes to support you and your post-school study:
- You can use HECS-HELP to pay for some of your study if you’re studying in a commonwealth supported place (where the government pays part of your fees).
- If you’re considering a uni that doesn’t get government funding, then you can use FEE-HELP to pay your way.
- SA-HELP exists to cover some of the costs of student services and amenities, like childcare or career advice.
- If you want to study abroad, then OS-HELP can help you pay some of the costs.
- And if you want to do a start-up course, then you can use STARTUP-HELP to help cover the cost.
Go on a globe-trotting adventure
Deferring your studies and taking a gap year to explore the world is another popular post-school pathway, but it all depends on your finances. If sightseeing tickles your fancy, you could set a savings goal and name your new savings account whatever you want – ‘European Escape’, ‘American Road Trip’ or wherever you plan on travelling to.
No matter if you want to fly solo or go on a tour with other folks, planning your travel budget in advance will be a game changer. It allows you to work out how much you can spend (and where) while also having a little emergency buffer just in case.
{video}How to budget for travel
Louis: No. I've got toothpaste. How many socks do I have? I can't handle this. My berets?
Jade: Maybe you’re missing a good budget.
Louis: Oh - Jade, what are you doing here? Scared, but also help me. I'm so stressed.
Jade: I'm here to help you pack. Well, at least help pack your mind full of knowledge about exchange rates, travel cards, budgeting and travel insurance.
Louis: Where do we start?
Louis Voiceover: ANZ presents How to budget for overseas travel. It's okay. I didn't know either.
Louis: I haven't gotten my travel insurance yet. I feel guilty. But is it 100% necessary? Do I need it?
Jade: It's highly recommended to get travel insurance and make sure you're covered with health insurance when you're traveling, too. We know that travel insurance usually covers things like canceled flights or lost baggage, and it may even cover medical care if you need emergency treatment overseas.
Louis: I just wish I hadn't left all of this to the last minute. I feel so silly.
Jade: Well, it is usually better to do it prior to leaving and do it in advance. In fact, the more things you can pay before you go, the more likely you are to get good deals and you won't run the risk of blowing your budget while you're overseas. Things like flights and accommodation end up getting more expensive as time goes on.
Louis: Honestly, that does make a lot of sense. Like paying a little now to avoid paying a lot later.
Jade: That's right. And if you have a credit card, it's worth checking if there's any travel insurance attached to that as well. Remember to check when it covers and what it doesn't.
Louis: Come to think of it, credit cards. Should I be using my Aussie bank card when I'm overseas? Or just like converting everything into cash before I leave?
Jade: There's a couple of ways to take money over. You could keep using your bank card, but it's worth checking if there are any fees or charges that might apply and what kind of exchange rate you'll get. Some cards might hit you with extra costs every time you use it. And don't forget to notify your bank if you travel. Otherwise, they'll flag it as fraud and then you’re without any access to money, And you'll have to call them to unlock your card.
Louis: We wouldn't want that.
Jade: Your other option is to load money onto a travel card, and that locks in your exchange rate before you go. So you won't risk losing value if the exchange rate fluctuates. Most cards let you load multiple currencies onto the card if you're visiting multiple destinations too.
Louis: Oh, so kind of like a card that speaks multiple languages? Un peu français, peut-être. Oui, oui ? Non non ? Baguette.
Jade: Oui ! But remember, it can be good to have a bit of cash on hand just in case you lose your card or you're in a situation where you need physical cash.
Louis: Oh, and when it comes to budgeting, what sort of things should I be looking out for?
Jade: Remember to budget for visas, flights, accommodation, and probably good to have an emergency fund as well because travel is full of surprises. What if you lose something valuable while you're there?
Louis: The only thing I plan on losing right now is the stress, all of the anxiety hanging over my head. Good vibes only.
Jade: Yes. Another tip is to set a daily spending budget, for example, $100 a day for food and for fun. Some days you might spend less, and some days you might spend more. But overall, you get a good sense of what you need and it's also a lot easier to keep an eye on your everyday spending.
Louis: Well, honestly, this has been so helpful. I love you. Are you sure you don't want to come? I wish I could pack you in my suitcase and just take all this advice with me.
Jade: Oh, I'd love to come
Louis: I think there's a little bit of space above the rainbow unicorn. But also, where does one go to get help? Because a lot of people won't be as lucky to have you next to them.
Jade: ANZ have a couple of helpful guides on their website and you can also hop on to SmartTraveler.gov.au to get some government advice on each destination.
Louis: Well Jade, this has been amazing and you know I love chatting with you, but there is a lot that I need to do in terms of packing. While I do that. If you found this helpful, subscribe to our channel and watch me as I upskill on a whole lot of other financial wellbeing topics. Oh, and don't forget to click the links in the description for some more handy resources. Shall we try?
Jade: All right, let's go. Yeah.
Louis: Okay, great. So what you’ve got to do is just... Put a foot in?
Jade: Yeah, foot first, right?
Louis: Oh, yeah no, we're onto something.
Jade: Yeah.
Louis: Yeah. Oh, come on. Do you trust me?
Jade: No.How to budget for overseas travel3.57Quick tip:
Travelling during the off-season might land you a bargain for your expedition. Flights, accommodation and tourist attractions in certain countries can be cheaper if you plan your trip in the quieter months.
Did you know you can combine travel and work? Harvest work is a unique opportunity to explore different parts of Australia while picking some of the freshest fruits you’ll ever see (and taste!). You can also work overseas in a number of roles, like becoming an English teacher, providing childcare services or working on a cruise ship.
Discover the world of work
Starting work after you’ve finished high school can be a great way to get some career experience under your belt (and on your resume). The best part is that there are plenty of different working options out there. You can work part-time while doing some extra study. Or you might take a gap year and focus on finding your first job post-school – the choice is entirely yours.
Working is also a fantastic way to do a vibe check of the industry you want to work in before committing to a set career path. Plus, you’ll start earning money.
Quick money tips to get you started after the first pay check
- Build the ultimate budget to help balance your expenses and income. Trust us on this one.
- If you have a big goal in mind, like buying a fancy car or cute apartment, you can start saving for it one dollar at a time. Our goal-setting tool can make this a whole lot easier.
- Start your super early and watch your retirement fund snowball into something huge. Thanks compound interest!
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How to budget for travel
Louis: No. I've got toothpaste. How many socks do I have? I can't handle this. My berets?
Jade: Maybe you’re missing a good budget.
Louis: Oh - Jade, what are you doing here? Scared, but also help me. I'm so stressed.
Jade: I'm here to help you pack. Well, at least help pack your mind full of knowledge about exchange rates, travel cards, budgeting and travel insurance.
Louis: Where do we start?
Louis Voiceover: ANZ presents How to budget for overseas travel. It's okay. I didn't know either.
Louis: I haven't gotten my travel insurance yet. I feel guilty. But is it 100% necessary? Do I need it?
Jade: It's highly recommended to get travel insurance and make sure you're covered with health insurance when you're traveling, too. We know that travel insurance usually covers things like canceled flights or lost baggage, and it may even cover medical care if you need emergency treatment overseas.
Louis: I just wish I hadn't left all of this to the last minute. I feel so silly.
Jade: Well, it is usually better to do it prior to leaving and do it in advance. In fact, the more things you can pay before you go, the more likely you are to get good deals and you won't run the risk of blowing your budget while you're overseas. Things like flights and accommodation end up getting more expensive as time goes on.
Louis: Honestly, that does make a lot of sense. Like paying a little now to avoid paying a lot later.
Jade: That's right. And if you have a credit card, it's worth checking if there's any travel insurance attached to that as well. Remember to check when it covers and what it doesn't.
Louis: Come to think of it, credit cards. Should I be using my Aussie bank card when I'm overseas? Or just like converting everything into cash before I leave?
Jade: There's a couple of ways to take money over. You could keep using your bank card, but it's worth checking if there are any fees or charges that might apply and what kind of exchange rate you'll get. Some cards might hit you with extra costs every time you use it. And don't forget to notify your bank if you travel. Otherwise, they'll flag it as fraud and then you’re without any access to money, And you'll have to call them to unlock your card.
Louis: We wouldn't want that.
Jade: Your other option is to load money onto a travel card, and that locks in your exchange rate before you go. So you won't risk losing value if the exchange rate fluctuates. Most cards let you load multiple currencies onto the card if you're visiting multiple destinations too.
Louis: Oh, so kind of like a card that speaks multiple languages? Un peu français, peut-être. Oui, oui ? Non non ? Baguette.
Jade: Oui ! But remember, it can be good to have a bit of cash on hand just in case you lose your card or you're in a situation where you need physical cash.
Louis: Oh, and when it comes to budgeting, what sort of things should I be looking out for?
Jade: Remember to budget for visas, flights, accommodation, and probably good to have an emergency fund as well because travel is full of surprises. What if you lose something valuable while you're there?
Louis: The only thing I plan on losing right now is the stress, all of the anxiety hanging over my head. Good vibes only.
Jade: Yes. Another tip is to set a daily spending budget, for example, $100 a day for food and for fun. Some days you might spend less, and some days you might spend more. But overall, you get a good sense of what you need and it's also a lot easier to keep an eye on your everyday spending.
Louis: Well, honestly, this has been so helpful. I love you. Are you sure you don't want to come? I wish I could pack you in my suitcase and just take all this advice with me.
Jade: Oh, I'd love to come
Louis: I think there's a little bit of space above the rainbow unicorn. But also, where does one go to get help? Because a lot of people won't be as lucky to have you next to them.
Jade: ANZ have a couple of helpful guides on their website and you can also hop on to SmartTraveler.gov.au to get some government advice on each destination.
Louis: Well Jade, this has been amazing and you know I love chatting with you, but there is a lot that I need to do in terms of packing. While I do that. If you found this helpful, subscribe to our channel and watch me as I upskill on a whole lot of other financial wellbeing topics. Oh, and don't forget to click the links in the description for some more handy resources. Shall we try?
Jade: All right, let's go. Yeah.
Louis: Okay, great. So what you’ve got to do is just... Put a foot in?
Jade: Yeah, foot first, right?
Louis: Oh, yeah no, we're onto something.
Jade: Yeah.
Louis: Yeah. Oh, come on. Do you trust me?
Jade: No.
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School’s out: 3 ways to get started after Year 12
2024-09-04
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