A helpful guide to prepare you for student life and beyond
A helpful guide to prepare you for student life and beyond
With education costs rising each year, it pays to be prepared before and during your studies. If you're an apprentice or tertiary student we're here to help you navigate through your student life journey with ease and confidence. Let's get ready, get set and get studying.
We understand how overwhelming and demanding beginning your studies for the first time can be. Not only is it a huge transition in your life, but it's also a time where important decisions need to be made. That's why we've gone to great lengths to help you navigate through your important student journey. At BOQ, we're here to help you simplify your decision-making process.
Here are some of the benefits of banking with BOQ while you're studying:
Becoming a student for the first time can be an expensive venture with many challenges along the way. Once you've chosen your university degree or tafe course of choice it's time to get organised and make some serious decisions about what your next steps should be.
Once you've decided to commit to being a student it's important to keep track of what you're expecting to spend during this exciting time. Starting out by setting a monthly budget is one way to help you understand exactly what you can afford. Maybe you've just started your first job, purchased your first car or you're moving out of home. Remember, there are not only the upfront costs of being a student, but also the ongoing costs involved with studying too. When first setting your budget don't forget to also include what you plan on saving per month to help you work towards your future financial goals.
These calculators and tools are a great way to easily set budgets and help you work towards saving goals for your future, helping to simplify the sometimes complex process. These calculators can help you determine what you're spending and where, and how you can reach your financial goals faster while studying.
So now you've planned your student budget by establishing your monthly expenses, it's time to starting thinking about saving for the future. Maybe you've just started your first job allowing you to save the remainder of what you're not spending. Maybe you're planning on travelling during your studies? Either way, having your own savings account is a great way to get you motivated about watching your money grow. While you're studying you'll probably need two types of accounts; a transactions account and a savings account.
Many university students often find the time to travel domestically and overseas during their extended holiday periods. Many universities and colleges also now offer flexible courses and degrees online making extended travel possible. Other students also opt to study abroad for either a semester or even a longer period of time, while others prefer to take a gap year before commencing their studies. Whatever your decision about travelling before or during study we're here to help you during your journey.
Thinking about your financial future while you're studying might not seem important today, but maintaining a healthy credit rating, will impact your ability to borrow money in the future. A healthy credit score can help us pay for various items including our rent, take a holiday, cover our general living expenses and even help us eventually purchase a car or first home. Your credit score will be a number between 0 and 1,200. This number will directly indicate how reliable you are with credit. A score in the mid-600s is fair, 700-800 is very good, and above 800 is generally considered excellent. The higher your score, the more 'credit-worthy' you are. MoneySmart have more details here for your reference.
When selecting a credit card to begin building your credit score here are some things to consider:
Whether you’re saving for student travel, saving for a rainy day or budgeting for books - we're here to help you reach your financial goals.
Everyday banking with no monthly fees
The Day2Day Plus Account is the everyday bank account that frees you to live the way you want, each and every day.
BONUS INTEREST VARIABLE RATE FOR BALANCES UP TO $10,000 IF BONUS CRITERIA MET6
A great way to start saving if you are 14 - 24 years old
Conditions, Criteria and Fees Apply. You should obtain and consider the relevant Product Disclosure Statement (PDS), terms and conditions and Guide to Fees and Charges for the product before making any decision about whether to acquire or continue to hold it. Full terms and conditions are available online or at any Bank of Queensland branch.
6 A Bonus Interest variable rate will only be paid if Bonus Criteria are met in the previous month. Bonus Criteria will be met where a minimum of $200 is credited to the linked Day2Day Plus Account in the prior month. The minimum amount does not include amounts transferred from another one of your BOQ Accounts including any Account you may be linked to as an Authorised User or as a joint Account holder. The variable Base Rate applies to balances over $250,000. The variable Base Rate always applies in the first month after opening account. In the first month, Bonus Criteria on the transaction account is measured from the time the Fast Track Starter Account is opened, not the full calendar month even if the transaction account was already existing. Interest is calculated daily on a stepped basis and paid monthly on the first day of the following month. If Bonus Criteria conditions are not met the variable Base Rate only will apply.
^ Effective 1 February 2020, a Bonus Interest variable rate will only be paid if Bonus Criteria are met in the previous month. Bonus Criteria will be met where both the following conditions are met:
1. A minimum of $200 is credited to the linked Day2Day Plus Account in the prior calendar month. This excludes amounts transferred from another one of your BOQ Accounts including any Account you may be linked to as an Authorised User or joint Account holder;
2. at least 5 direct debit transactions or purchases of goods or services from a Merchant are made in the prior calendar month by using your Card or BOQ Visa Debit Card associated with your linked Day2Day Plus Account. This does not include cheques written or deposited, branch cash withdrawals, transfers or payments to any BOQ account or to a non-BOQ account via Internet Banking, in branch or at ATMs, transfer of funds to accounts held at an overseas bank, BPAY payments, pending Visa Debit Card transactions and BOQ Credit Card transactions.
Transactions that are not settled (are pending) do not count towards the Bonus Criteria. If a transaction is made but settles in the following calendar month then the transaction will be counted in the following calendar month.
The Fast Track Starter Account will automatically convert to a Fast Track Saver Account on your 25th Birthday. Fast Track Starter Accounts are restricted to one per customer.