How much money do I need to move to Australia?

It depends on your visa type and lifestyle. As a rough guide: $5,000-10,000 for working holiday, $15,000-30,000+ for skilled migration including initial settlement costs.

Do I need to prove I have savings for my visa?

Some visas require proof of funds. Student visas need about $24,505 per year for living costs. Working holiday visas may need $5,000 in accessible funds.

Should I transfer money before or after arriving?

Opening an Australian bank account from overseas is easier with some banks (like ANZ, NAB). Transfer a portion before arriving so you have funds available immediately.

Visa & Relocation Savings Goal

Plan savings for visa, move and first months in Australia

Work out how long it takes to reach a target for visa costs, first month rent, bond, emergency fund or relocation. Enter your goal and current savings to see your timeline.

Savings Goal Details

Enter your savings goal and current situation

Target Amount ($)

Current Savings ($)

Monthly Contribution ($)

How much you can save each month

Annual Interest Rate (%)

Expected annual return on your savings

Goal Timeline

How long until you reach your goal

Time to Goal

0.8 years

(10 months)

Final Balance

$20,447

Total Contributions

$20,000

Interest Earned

$447

Progress Breakdown

Goal Reached!

Contributions: $20,000

$20,447

+$447 interest

How to Use This Calculator

1Enter your total savings target (visa fees, rent, bond, emergency fund)
2Enter your current savings
3Enter how much you can save each month
4Optionally add your savings account interest rate
5See how long until you reach your goal

What Costs Should I Save For?

Moving to Australia involves several upfront costs: visa application fees, flights, rental bond (usually 4 weeks rent), first month's rent and money to live on while you settle.

Many visa types require proof of funds - savings you can show to demonstrate you can support yourself. Check your specific visa requirements on the Department of Home Affairs website.

Typical Costs to Budget For

Visa fees: Varies by visa type - from $200 for some working holiday visas to $4,000+ for skilled visas.
Rental bond: Usually 4 weeks rent. In Sydney/Melbourne expect $600-1,200+ per week for an apartment.
First month rent: Paid upfront when you sign a lease, on top of the bond.
Emergency fund: 1-3 months of expenses recommended while you find work and settle in.

Saving for Your Move

•Check proof of funds requirements for your visa type before setting your target
•Include health insurance costs in your budget - Medicare may not cover you initially
•Factor in bank fees for international transfers when calculating your target
•Start with accommodation in a share house to reduce initial costs

Frequently Asked Questions

Official Sources

Estimates only. Not financial or tax advice. Full disclaimer for your rights and our limitations of liability.

Rates and thresholds last updated for the 2024–25 financial year.

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