What Is the Living Cost in Germany for Indians?

Introduction

If you want to move to Germany, which is known for its outstanding education system, strong economy, and high standard of living, then this article is for you. However, it is important to understand the cost of living in Germany, as it helps to plan better and manage your budget effectively. 

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Overview of Germany: Currency and Exchange Rate

Most Indian banks do provide international debit or forex cards that can be used in Germany. Still, you should always carry adequate cash with you because not every local shop will accept card payments for small purchases.

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Cost of Living in Germany

The cost of living in Germany varies greatly depending upon which place you decide to live in. Large cities like Munich, Frankfurt, and Berlin are way costlier than smaller cities, like Leipzig or Dresden. The average cost of living in Germany is EUR 12,000 per year (INR 11.17 Lakhs) depending upon the lifestyle and location. Major expenses include:

Rent

Rent is typically the largest expense for someone living in Germany. It amounts to between €250 and €500 monthly depending on the city and type of accommodation for an apartment sharing. Living alone in a single one-bedroom apartment will be much more expensive and may, depending on the city, reach as high as €1,000 per month in the case of large cities like Munich.

Groceries and food

‍Groceries would probably cost 200 to 400 euros for a month. Although local supermarkets offer cheaper food, it will be very costly to eat out. Lunch in a small, affordable restaurant can be more affordable. Generally, preparing your meals at home is cheaper.

Transportation

The transport system in Germany is efficient and commonly used. Monthly public transportation pass varies from city to city between €50 to €80. Many students and employees have cheaper tickets. In small towns, you can cycle or walk to save costs on your travel to work every day.

Health Insurance

Health insurance is mandatory for everyone in Germany, from a student to an international worker. Hence, everyone ought to have health insurance. For a student, the public health insurance costs between 120 € to 130 € per month while for professionals, the charges are much higher. Of course, there is private insurance, but at a cost.

Utilities and Internet

‍This will cost you around €100 to €150 for an entire month in utility bills such as electricity, heating, water, and waste management. 

Miscellaneous

Depending upon your lifestyle you may spend an extra €100-€200 in a month for miscellaneous expenses such as clothing, entertainment, or personal care. One more advantage is that Germany has provided a wide range of cultural and social activities that you can enjoy free of cost or at very minimal charges.

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Source: Shiksha.com

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How to Manage Living Expenses in Germany

Germany is a very expensive place to live. That being said, there are many ways you can effectively manage your expenses. Here are some tips that can help you save money and make the most of your time in Germany:

1. Use Student Discounts

‍If you are a student, well, count yourself lucky. Many places in Germany, including public transportation, museums, restaurants, and even cinemas, offer discounts to students. Keep your student ID card handy, as it will help you save quite a bit on various services.

2. Choose Affordable Accommodation

‍Consider sharing an apartment with others to reduce rent costs. Sharing the rent with others will minimize the cost. Even most of the students and working professionals share apartments just to save on accommodation costs. Living outside of the city center also helps with lower rent, and public transport makes life easy as it is also quite affordable.

3. Part-Time Jobs

‍You are allowed part-time jobs up to 120 full days or 240 half days per year as a student. Having part-time employment or freelance work may be a good way to offset living expenses, whether it’s in retail, as a teaching assistant, or doing freelance work over the Internet.

4. Meal Planning

‍Cooking at home is significantly cheaper than dining out. Plan your meals and shop at discount supermarkets to save your monthly food expenses. Lidl, Aldi, and Penny are well-known stores providing affordable groceries without sacrificing quality.

5. Budgeting Apps

‍Use budgeting apps like Mint or Wallet to track your spending and set monthly goals. That way you're able to easily monitor exactly where your money is going and where you might cut some extras.

6. Travel Smart

Public transportation is most of the time the cheapest option. Most towns/ cities also offer a monthly ticket for a much smaller price if you are a student. If you travel often, get a BahnCard. You'll get a good deal on train travel throughout Germany.

7. Health Insurance Options

For students, public health insurance is usually the cheapest. But if you are working, compare private and public health insurance plans to find the one that best suits your needs and budget.

Also read: Send university fees to Germany

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EUR to INR Conversion Rates

Below is the table for latest inter-bank rates for euro currency exchange

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Conclusion

As in any foreign country, it takes careful planning, but an opportunity for an Indian student or professional to live in Germany is quite good. Of course, at first, it may appear costly compared to your stay in India, but Germany is really one of the most affordable countries you can live in Western Europe if you keep your expenses in proper order.

With careful budgeting, taking advantage of discounts, and making wise housing and food choices, you may easily live in Germany on a monthly budget ranging from €1,297 to €1,500 per month, depending on the city and your lifestyle. In addition, Germany will be able to offer everything from its rich cultural experiences to world-class education and innumerable opportunities, making it an excellent destination for Indians to study or work.

Summing it all up, understanding and managing your living expenses in Germany is of utmost importance for making the most out of your time in the country.

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