Frankfurt is one of the most beautiful cities in Germany and offers a great blend of high-quality education, cultural vibrancy, and economic strength. This place has attracted students from different parts of the globe because of the top-notch universities available. Over here, you can experience great student life. However, being a student is not easy. You need to manage your finances carefully. If you are new to this, understanding the cost of living in Frankfurt is crucial. In this blog, you will learn the details related to your expenditure when staying here.
The Average Monthly Cost of Living in Frankfurt
The average monthly cost of living in Frankfurt is around €1,650 per month approximately. However, this completely depends on one’s lifestyle. For instance:
- Shared accommodation helps reduce costs but offers less independence.
- Studio apartments provide privacy but are more expensive.
Choosing the right option can significantly impact your monthly budget.
Cost of Accommodation
In Frankfurt, you will find a variety of room options:
- Modern studios
- Cozy shared apartments
You can easily experience comfort, convenience, and a thriving student community. However, you need to choose your accommodation in Frankfurt wisely. Offenbach, Darmstadt, Wiesbaden, and Mainz. Use online platforms to compare accommodations and select one that fits your budget and preferences.
Cost of Tuition Fees
Frankfurt is one of the best cities for international students with many renowned universities such as:
- Goethe University
- Technical University
- Frankfurt School of Finance and Management
These universities emphasize high-quality education. Tuition fees vary, but many German universities have low or no tuition fees for international students, especially at public institutions. Always check specific tuition costs on university websites.
Cost of Food
Frankfurt offers students amazing food options. Here’s an estimate to help you budget for food:
- Coffee: €3.19
- Dining out in a standard restaurant: €20
- Groceries (monthly): €200
Cooking your own meals can save you a significant amount of money. Explore local markets for fresh and affordable produce.
Cost of Transportation
The average monthly cost of transportation in Frankfurt is around €90–€100 (using public transport). Public transportation options include buses, trains, and trams.
Tips:
- Get a monthly or annual transport pass for discounted rates.
- Avoid buying a car to reduce costs.
- Consider cycling or using Park and Ride car parks to save on commuting expenses.
Cost of Healthcare Facilities
In Germany, having health insurance is mandatory for students:
- Public health insurance: €110–€150 per month
- Private health insurance (for self-employed): €200–€350 per month
Check which option suits your needs and budget before enrolling.
Cost of Entertainment and Utility Bills
- Internet: €30 per month
- Phone plans: €20–€30 per month
- Night out (clubs or dining): €50–€60
- Fitness club membership: €45 per month
Entertainment and utility expenses vary depending on your lifestyle.
Tips to Save Money
Planning a budget is essential to manage finances. Here are some tips to save money:
- Learn about the cost of living before you arrive.
- Choose accommodation with inclusive utility bills.
- Use public transportation to reduce commuting costs.
- Cook at home instead of dining out regularly.
- Make your own coffee instead of buying it daily.
- Stay in a shared apartment rather than a studio to save on rent.
- Look for accommodation near your university to reduce travel expenses.
- Use your student ID to get discounts on transport, food, and entertainment.
- Buy second-hand books and supplies.
- Opt for DIY solutions instead of purchasing everything new.
Summary
By understanding and planning for the cost of living in Frankfurt, you can effectively manage your finances and enjoy your student life. From finding affordable accommodation to saving on transportation and food, small adjustments can make a big difference. Start planning today for a budget-friendly stay in one of Germany’s most vibrant cities.
