Introduction on the cost of living
The cost of living is one of the top concerns for nearly one in three Australian young people. New research from ReachOut shows that for 40% of these young people, the cost of living is significantly affecting their mental health.
What’s the link between exam stress and the cost of living?
If you’ve ever taken exams, or if you have some coming up, you’ll know how stressful it can be. On top of that, worrying about the cost of living can make things even harder.
You might find yourself not getting enough sleep, feeling more irritable, tired or burnt out, or struggling with stress and a lack of motivation. All of this can impact your ability to focus and retain information when you’re studying.
Struggling with the cost of living might also mean working more hours and having less money to spend, which can leave you with less time and energy to prepare for your exams and maintain a good study-life balance.
We asked our volunteers about their experiences with exam stress and the cost of living, as well as their top tips for getting through it. Here’s what they had to say.
How do you feel about the cost of living?
‘The cost of living could be better supported for young people. It can create unwanted stress and anxiety…I have known some people who ultimately drop out of uni because they are unable to financially support themselves even on Centrelink.’ - Anonymous
‘I am quite worried about the cost of living… I am worried that I won't be able to move out or afford food until I've finished my uni studies...This is particularly disappointing as I would really like to be more independent, but I feel that the cost of living traps me.’ - Anonymous
How do you navigate exam stress with the cost of living?
‘Study during the day to leave my lights off (reducing electricity bill) and being creative with meals to avoid going to the supermarket to spend more money.’ - Anonymous
‘Before the start of exam season I try to work as much as possible and even do simple jobs for family friends like walking the dog, house sitting, cleaning their house etc and then save all the money up so during the exam season I can work less without having to worry too much about cost of living.’ - Anonymous
What tips would you give to someone who is struggling with exam stress and the cost of living?
‘Utilise the library or the online textbook format on the course site, they are often free to use and you’re not spending your money on something you won't use again. Find affordable outlets for you and your friends so you still release stress and take care of yourself, examples like going for a walk, to the museum or art gallery etc’. - Anonymous
'Brain dump all the things you need to get done (study/work/life related) onto a page, and then complete your daily tasks…the brain dump is so you don't forget and so you're not constantly trying to use more brain power to remember what you should do tomorrow.’ - Anonymous.
What else can I do to reduce my stress around the cost of living during exam time?
- Try to save money on groceries by only buying what you need. Try to not shop while you’re hungry, it's a trap!
- Save money on travel by avoiding peak times on public transportation, working from home if you can, and comparing petrol prices around your local area to find the cheapest petrol station.
- Make sure you’re getting enough sleep and finding time to exercise or engage in your interests/hobbies.
You can also check out these resources to learn more:
