I came across an article titled “successful students understand their finances.”
Most students live on a limited budget. Their source of income is from student loans, parents, or a side hustle.
At a young age you are taught to organise your finances well to get extra money to spend with your friends.
By you reading this article it means you are trying to plan your finances ahead before moving to Germany. I got you!
In this piece of writing I shall break down the cost of living in Germany as a student.
- Accomodation/housing
There are many student accommodation options available for both International and local students in Germany.
Student union halls of residence – this is the cheapest option for students. In most cases it comprises shared amenities like kitchen and entertainment areas.
They are also in short proximity to the school therefore very convenient for students. The downside of student union halls is that they are in demand and rooms run out quickly.
The average cost of accommodation in a student Hall is about 300 euros per month and will fluctuate depending on the location of the school.
Other temporary accommodations in Germany include hotels, hostels, youth hostels, private b&b and guest houses. In most cases temporary accommodations will be charged per night and it’s not convenient for long term accommodation.
The third option is finding private accommodation. It entails finding a place and renting it. The prices of private accommodation may vary depending on the city but on average it costs about 400 to 600 euros per month.
The cost may go down if you choose to share the flat with someone else.
- Utility bills
Another thing to consider as a student living in Germany is utility bills.
This covers the cost of electricity water gas garbage collection and most importantly internet services.
One of the upsides of living in our student union Hall is that some part of the utility fee may be covered by your monthly rent like electricity, water, and gas.
However, in most cases you will have to cover your phone and internet bills.
For all new residents or international students it is only fair that you first read reviews about german telecom companies before you choose an internet service provider.
All the feedback you need to make the right choice is available at De.collected.reviews.
- Groceries
It is also important to set aside money for your groceries. Grocery money should cover the cost of food stuff and your regular household supplies.
- Activities
Living in Germany should not be boring, as an international student you should consider enrolling yourself into other activities.
For example you may take an extra German class to better your German speaking skills or you may enroll in a sports activity like learning to play football.
- Educational supplies and equipment
The good thing about most educational supplies is that it’s a one-time purchase. For example, you will need to have a computer, a designated study table and chair, and other miscellaneous things.
- Membership and subscriptions
Another thing to consider while writing down your budget is the membership and subscription fee you may have to pay.
This will include online subscriptions, i.e an online library, entertainment services like podcasts, videos, music, shows, e.t.c.
Membership and subscription will also cover things like gym memberships, club and societies membership fee, e.tc.
I cannot give an estimate of what this might cost because it well depends on you.
- Transportation
For the students living at longer-distance from the University premises you may have to factor in the cost of transportation to and from your home.
Again, because of transportation we depend with the distance but on average it is about 80 to 90 euros per month taking a bus. You may also consider taking subways.
- Health insurance
As you probably know by now, there’s a mandatory requirement for every person living in Germany to have health insurance cover.
The health insurance cover may be from the public health insurance scheme, for a private health insurance company in Germany or a valid international health insurance.
The cost of health insurance will depend on the paid premium and may range from about 100 euros to 1500 euros.
- Miscellaneous expenses
Finally, you may also want to budget for miscellaneous expenses. For example, the cost of repairs, the cost of eating out with friends once in a while, or touring money across German cities.