How Much Money Should You Bring to Australia

Quick Budget Summaries by City

| City | First Month Budget | Per Week Living | Rent (1-bed) | Bond + 2 weeks rent |
|------|-------------------|-----------------|--------------|-------------------|
| Sydney | $20,000–$25,000 | $350–400 | $400–500 | $3,200–$4,000 |
| Melbourne | $18,000–$23,000 | $300–350 | $350–450 | $2,800–$3,600 |
| Brisbane | $15,000–$20,000 | $250–300 | $300–400 | $2,400–$3,200 |
| Perth | $14,000–$18,000 | $240–280 | $280–380 | $2,240–$3,040 |
| Adelaide | $12,000–$16,000 | $200–250 | $250–350 | $2,000–$2,800 |

These figures assume you're renting a one-bedroom apartment in a median suburb, eating modestly, using public transport, and have a small contingency. Share houses cost less; inner-city apartments cost more.

Breaking Down Your First Month Costs

### Rent and Bond (Biggest Cost)

Australian rentals require an upfront bond. This is money held in a government bond bank, not paid to the landlord. You also pay advance rent.

How much you pay upfront:
- Bond: 4 weeks' rent (goes to bond bank, returned when you leave).
- Advance rent: 2 weeks' rent (paid to landlord for the first two weeks).
- Total: 6 weeks' rent upfront.

In Sydney: A one-bedroom apartment in a decent suburb costs $400–500 per week. That's $2,400–$3,000 bond plus $800–$1,000 advance rent. Total: $3,200–$4,000.

In Melbourne: Similar apartments cost $350–450 per week. Bond + advance: $2,800–$3,600.

In Brisbane: $300–400 per week. Bond + advance: $2,400–$3,200.

In regional cities (Canberra, Hobart, smaller towns): $250–350 per week. Bond + advance: $1,500–$2,450.

You can reduce this cost by:
- Renting a room in a share house instead of a one-bedroom ($250–350 per week in Sydney).
- Arriving mid-month and negotiating partial bonds.
- Staying temporarily in serviced accommodation or Airbnb for the first 2 weeks while you inspect and lease a place.

### Food and Groceries

Budget $80–$100 per week if you cook at home, buy from discount supermarkets (Aldi, Coles, Woolworths), and avoid premium brands.

Weekly costs:
- Groceries (home cooking): $80–100 AUD.
- Eating out 2–3 times: +$30–50 AUD.
- Coffee/cafes: +$15–25 AUD.
- Total for food: $125–175 per week.

You can cut this to $100 per week by eating at home, buying bulk-discounted items, and using apps like Too Good to Go (surplus restaurant meals at 50% off).

### Transport

Public transport in major cities costs $50–70 per week once you buy a weekly pass. Setup costs:
- Opal card (Sydney) or equivalent: Free.
- First week or two: $50–70 AUD.

Cars are expensive: registration ($300/year), insurance ($800+/year), fuel ($50–80/week), maintenance. Assume public transport for now unless you arrive with a car.

### Phone and Internet

- Mobile SIM or eSIM: $40–70 per month.
- Home internet (NBN): $60–90 per month (paid in advance).
- Total: $100–160 per month.

Buy your mobile SIM at the airport or activate an eSIM before you arrive.

### Utilities and Household Setup

Most rental apartments include water. Electricity and gas vary by state and season.

- Electricity: $100–150 per month (setup required; may take 2–4 weeks).
- Gas: $30–50 per month (some apartments are all-electric).
- Total first month: $130–200.

You may not pay utilities in the first month if the previous tenant's account hasn't closed. Budget conservatively.

Household setup: Budget $200–300 for essential items (bedding, kitchenware, cleaning supplies) if you're arriving with minimal luggage.

### Daily Living and Miscellaneous

- Entertainment, dining out, groceries top-ups: $50–100 per week.
- Clothing, toiletries, pharmacy: $20–30 per week.
- Total: $70–130 per week beyond groceries and transport.

How Much Do You Really Need?

### Scenario 1: Optimistic (8 weeks to find work, share house)

| Item | Cost |
|------|------|
| Share-house bond (3 weeks) + advance (2 weeks) | $1,250 |
| Living costs (8 weeks × $200) | $1,600 |
| Setup costs (phone, internet, bedding) | $300 |
| Emergency buffer | $2,000 |
| Total | $5,150 AUD |

This assumes a $250/week share-house rent, cooking at home, and finding work within 8 weeks. Risky but doable in lower-cost cities like Adelaide or regional areas.

### Scenario 2: Realistic (12 weeks to find work, one-bed apartment in Brisbane or Perth)

| Item | Cost |
|------|------|
| Rent bond (4 weeks × $350) | $1,400 |
| Advance rent (2 weeks × $350) | $700 |
| Living costs (12 weeks × $280) | $3,360 |
| Transport, phone, internet | $300 |
| Household setup | $250 |
| Emergency buffer | $2,000 |
| Total | $8,010 AUD |

This covers 12 weeks without work in a decent apartment with modest living. Most successful migrants budget this range.

### Scenario 3: Safe (12 weeks to find work, one-bed apartment in Melbourne or Sydney)

| Item | Cost |
|------|------|
| Rent bond (4 weeks × $420) | $1,680 |
| Advance rent (2 weeks × $420) | $840 |
| Living costs (12 weeks × $350) | $4,200 |
| Transport, phone, internet | $400 |
| Household setup | $300 |
| Emergency buffer | $3,000 |
| Total | $10,420 AUD |

Comfortable for major cities with a financial buffer for unexpected costs.

### Scenario 4: Very Safe (16 weeks to find work, one-bed apartment in Sydney)

| Item | Cost |
|------|------|
| Rent bond + advance | $3,600 |
| Living costs (16 weeks × $375) | $6,000 |
| Transport, phone, internet | $400 |
| Household setup | $300 |
| Visa setup (if applicable) | $500 |
| Emergency buffer | $5,000 |
| Total | $15,800 AUD |

This covers 4 months in expensive Sydney with a substantial safety net.

Visa Financial Requirements

Some visas have specific financial conditions:

Student visa (500): You must prove financial capacity upfront. Minimum varies but expect $20,000–$30,000 AUD in liquid savings or sponsorship letters. This is checked before your visa is granted, not when you arrive.

Temporary skill shortage visa (482): No upfront financial requirement, but employer sponsorship reduces risk.

Skilled independent visa (189, 491): No upfront requirement, but you should budget reserves.

Family visas: Sponsor must prove income. You should still bring personal savings.

Check your visa conditions (VEVO letter from Home Affairs) for "financial capacity" requirements.

Should You Bring Money or Use Transfers?

Bringing cash:
- Physically carrying $10,000+ in cash is risky.
- Australian Customs requires reporting cash over $10,000 AUD.
- Better to transfer electronically before you leave.

Transferring before arrival:
- Use Best Way to Transfer Money to Australia to send money to your Australian bank account before you arrive.
- Set up an Australian bank account online before departure (Commonwealth, ANZ, or NAB allow this).
- Transfer arrives by the time you land or within a few days.
- Takes 1–2 business days from most providers (Wise, OFX).

Best approach:
1. Transfer $10,000–$15,000 AUD to your Australian account 2 weeks before departure (gives time for any delays).
2. Keep $2,000–$5,000 AUD in home currency for contingencies (travel costs home if visa denied, emergency air ticket).
3. On arrival, access your Australian account via ATM with your debit card.
4. Transfer additional funds monthly as needed (living allowances, continued settlement costs).

Common Cost Mistakes

Underestimating rent bonds. Many migrants arrive expecting to pay weekly rent like their home country. Australian bonds consume 6 weeks of rent upfront. This is the single biggest shock.

Not budgeting for utilities setup time. Electricity accounts take 2–4 weeks to activate. You may not pay for 6 weeks. But once activated, you'll owe the full bill.

Assuming you'll find work immediately. Job search in Australia takes 6–12 weeks on average, even for skilled workers. Budget for 12 weeks minimum without income.

Forgetting household essentials. Bedding, cookware, cleaning supplies, towels. Budget $300 if arriving with a suitcase only.

Underestimating transport costs. A one-week Opal card (Sydney) is $50. Across a month, transport is $200+. Add mobile ($60) and internet ($70): another $130.

Missing visa-specific requirements. Student visa holders must prove funds upfront. 482 visa holders need health insurance. Check your visa conditions before budgeting.

Next Steps

1. Decide which city you're moving to.
2. Research one-bedroom rent in that city on Domain or Real Estate (find the median, not the cheapest or most expensive).
3. Calculate bond + advance (6 weeks' rent).
4. Add 12 weeks of living costs at $250–400 per week depending on the city.
5. Add $2,000–$5,000 emergency buffer.
6. That's your target. Aim to have this in an Australian bank account before or shortly after arrival.
7. Set up a Money Transfer to deliver the funds.

For country-specific budgeting, see Cost of Moving to Australia from India or Cost of Moving to Australia from the UK. For settling in your first week, check First Week in Australia Checklist.

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Migratio is not a financial adviser or insurance broker. This article is general information only. Read the product disclosure statement for any product you're considering.