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From HECS-HELP to payslips, here’s your beginner-friendly guide to the money terms you’ll probably encounter during university.
Starting uni comes with a lot of firsts: your first timetable, first group assignment, and for many students, your first real experience managing money.
Suddenly everyone’s talking about HECS, super, TFNs and student discounts as if you already know what they mean. If you’ve ever nodded along while secretly Googling the term later, you’re not alone.
Here’s a simple rundown of the finance basics worth knowing:
HECS-HELP: Your university loan
What it is: A government loan that lets eligible students defer their student contribution fees instead of paying them upfront.
The key thing to know: You don’t automatically start repaying it after graduation. Compulsory repayments generally begin once your income reaches the government’s repayment threshold.
Why it matters: Understanding HECS early helps you make informed decisions about your study and future finances.
Super: Money for future you
What it is: Superannuation is money your employer pays into your retirement savings when you’re eligible.
Even if retirement feels a lifetime away, checking that your employer is paying your super correctly is a good financial habit to build from your first job.
Think of it as: A savings account for your future that’s separate from your regular pay.
Payslips: More than just your pay
Your payslip isn’t just telling you how much you earned, it also shows where your money is going. A few terms you’ll see include:
- Gross pay: What you earned before deductions.
- Net pay: What lands in your bank account.
- Tax: Money withheld based on your income.
- Super: Your employer’s contribution (when applicable).
Taking a minute to read your payslip can help you spot mistakes and better understand your income.
Just started a new job and need more information on your payslip and more? Check out this guide.
Student discounts: The easiest money saver
One of the perks of being a uni student? Discounts.
Before paying full price, it’s worth checking whether your student ID gives you access to cheaper transport, software, subscriptions, entertainment or retail offers. Small savings can add up over the semester.
Budgeting: Knowing where your money goes
Budgeting doesn’t mean saying no to every iced coffee. It’s a way for you to understand your spending so you can make choices that work for your lifestyle. A good place to start is tracking your essentials first such as your rent, groceries, transport, phone, study expenses. Whatever’s left is your flexible spending, not the other way around!
Understanding a few money basics will go a long way to help you navigate your finances as a Curtin student. And the good news is, there’s also support available at Curtin when things get a little tough. Access financial resources and support here or get financial advice here.
