Cost of Living Calculator
Are you planning to study abroad but are unsure about the expected finances? Managing your finances away from home can be overwhelming, and often difficult to plan ahead of time.
Our Cost of Living Calculator makes this easy and convenient by taking into account the unique needs of international students like you.
Just input a few details about your spending habits and receive your personalised estimate of average monthly expenses!
Full Guides on Cost of Living
Read detailed breakdowns of the estimated living expenses as an international student in our comprehensive guides.
What is 'Cost of Living'?
When moving to a new city and country for further education, one of the most important factors is to estimate how much it will cost to live there. Each country has its own cost of living, currency and living standards, therefore, the total cost of living can also vary greatly.
International students often live on a budget, therefore it is important to plan ahead and get a realistic estimate of your total expenses on a monthly basis. Besides student accommodation and meals, students must also consider other significant costs such as transportation, study material, mobile plan and other miscellaneous expenses.
Breakdown of Cost of Living
Cost of Living can be broken down into the following categories:
Housing Cost: Housing is often the single largest expense that international students incur when studying abroad. Housing costs are determined by a combination of two factors: location and type of accommodation. The average rent of an apartment in the city centre will be considerably higher than that of an apartment in the suburbs. However, living in the city centre comes with the benefit of proximity to the university and other facilities. The type of accommodation has multiple options: purpose-built student accommodation, studio apartment, or shared apartment. Sharing an apartment with other students from the same university is a common way to save some money on rent and utilities.
Food: Life as an international student can be quite busy as you might have to juggle your classwork with part-time jobs, internships and group projects. Students usually make weekly trips to the nearest grocery store or supermarket to buy groceries for a week or so. If your apartment has a kitchen, cooking food on your own is an excellent alternative to eating outside and can save you a significant amount of money. However, if you don’t have access to a kitchen or prefer convenience, meal plans/tiffin services are usually available in most larger cities.
Transportation: As a full-time student, you will need to travel regularly for your classes, group assignments or your internships. Most cities abroad have a vast network of public transportation which can include the metro (subway), buses, and e-bikes. Luckily, many cities offer a monthly pass which can give you access to the entire public transport network at a discount. As a student, you may be eligible for a further discounted price – making public transport one of the most efficient and cost-effective ways to travel. If you live close to your university, you can even walk every day – which has the added benefit of keeping you healthy!
Entertainment: Studying abroad is not just about going to classes, it is a wholesome experience that allows you to experience life as a resident of the city/town. Individual expenses on watching the movies, a live sport, or travelling will vary significantly based on lifestyle choices, but you can keep these in check by maintaining a monthly budget.
Miscellaneous: These costs may include things like a mobile plan, gym membership, computer, healthcare, insurance, personal care, study material, etc. These may not be top of mind, but are important to account for, as they will inevitably have an impact on your cost of living abroad as an international student.
How is this Cost of Living Calculator Different From Others?
AdmitX’s Cost of Living Calculator allows you to get a personalised estimate of your expected living expenses based on your choices and lifestyle choices. All prices are data-driven and taken from reputed sources. Just input the country name, select your preferences – and voila! If you need an even more detailed breakdown for any country, simply head over to the specific country guide for an estimate of the cost of living.
Why Should You Calculate Your Cost of Living?
A cost of living estimate will allow you to create a realistic budget for your monthly expenses as an international student. Based on your chosen country and lifestyle choices, you can get a clear picture of your life abroad, and make appropriate decisions that fit your budget, while making sure that you have a positive overall experience.
Frequently Asked Questions (FAQs)
Should I choose on-campus or individual accommodation?
On-campus accommodations allow you to experience life truly as a student, with access to all university facilities in a safe environment. However, it is important to note that not all universities offer on-campus accommodation.
Living individually gives you more flexibility to choose an apartment, and your flatmates, all within your budget. However, you may need to commute a bit to get to the university.
Ultimately, the decision depends on your preferences and what is more important for you. Both on-campus and individual accommodations are very popular among international students.
How can I eat healthy meals without spending a lot?
Eating healthy can be challenging while living away from home as you may not have the time or access to a full kitchen to prepare meals. In such a scenario, try to prepare your meals in advance, often at night for the next day or opt for a meal plan/tiffin service. These can offer a good balance between convenience, budget and nutrition.
Are there any student discounts available?
Yes, student discounts are easily available abroad. Depending on your location, you can often get discounts on electronics, subscriptions, gym memberships, personal care products, transportation and even food!
Make sure to research and sign up for the relevant student discount programs available in your chosen country.
What is the cheapest mode of transportation?
Walking or cycling to the university is the cheapest mode of transportation. However, most cities and towns offer student monthly passes for their public transport network which can save you up to 60% off the normal price! In some countries, public transport is even free for all students!