Off the top off my head you can get $50 per week in rent assistance in addition to $371/fortnight (rent assistance: Rent Assistance - payment rates)
So you get about $235 a week, and you can work to earn another ~$185 a week without reducing your youth allowance payment. Try and hookup a job where you can work more during holidays and less during uni. Sounds awesome to me, I would've moved out of home when I started uni 3 years ago, I just didn't know I was eligible for youth allowance. Whatever you do though don't let your academics suffer! When you graduate you'll want to ensure you have a job because youth allowance won't be there anymore
So you get about $235 a week, and you can work to earn another ~$185 a week without reducing your youth allowance payment. Try and hookup a job where you can work more during holidays and less during uni. Sounds awesome to me, I would've moved out of home when I started uni 3 years ago, I just didn't know I was eligible for youth allowance. Whatever you do though don't let your academics suffer! When you graduate you'll want to ensure you have a job because youth allowance won't be there anymore