How We Calculate the Monthly Living Costs for Studying Abroad Costs and funding

Estimating how much money you will have to save in order to study abroad can be very hard, especially when you’re going to a country with different culture, prices, and living standards.Using the Best Fit Tool of Studyportals, when applying to a Master's degree

Still, we here at Studyportals did our best and anticipated the costs, by understanding the student lifestyle and how much the average noodle cup costs in the country where you want to go and study.

By looking at data from cities where we have listed programmes - both Bachelor’s and Master’s degrees - we estimated the most basic needs and expenditures an average student might have while studying in that city.

Understanding these costs depended mostly on the average salary per week of a citizen in the country, as well as how the currency of your destination country converts and what the standard of living is.

For smaller cities, where data wasn’t available, we mainly did an average of the existing data from the other cities in that country and decreased it by 10%.

So, without further ado, here’s what we took into consideration when we made the math that helps determine if you have enough money for living in your destination country during your studies abroad:

  • Rent and facilities: although there are many options here, like living alone, with friends, in the middle of the city or on the outskirts, or even going by your university recommendations and living in a student dorm, we made an average for students;
  • Food and groceries: grocery stores and markets can vary when it comes to cost as well, but, based on the national average, we managed to discover how much you will need to pay for your veggies. But, if you want more detailed information, you can always read articles on costs and funding;
  • Shopping and miscellaneous: needing clothes can happen to anyone, and books and notepads for school are a must, so these are definitively some costs you should take into consideration which we also included in our budget estimation;
  • “The Social budget”: although it might be tempting, you can’t live only in your room, your only trips being to the university or to the supermarket. You will eventually need a budget for cinema, theatre, or concert tickets, a taxi ride from the club, and even money for within the club itself.

Check out 72,529 Master's degrees

Now that you know how we calculate the living cost requirements for a country or city, you can go check your favourite programmes and see if you have the necessary funds to study a degree and live in the country where the programme is offered. 

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Together with the ISIC Association and British Council IELTS, StudyPortals offers you the chance to receive up to £10000 to expand your horizon and study abroad. We want to ultimately encourage you to study abroad in order to experience and explore new countries, cultures and languages.