Cost of living and money

​Your living cost mainly depends on your lifestyle and can, therefore, vary quite much from student to student. Sweden may not be t​he cheapest country to live in, but if you plan ahead and make a monthly budget there is no reason to feel your money will not last. Also, make sure to look for student discounts as many stores and restaurants have great deals for students. 

Living costs as a student in Sweden

Students applying for a residence permit are required to demonstrate funds of at least SEK 8568 per month. You will get by on this amount, but it can be a good idea to calculate for a little more. This to make sure you have some money left for leisure, travel, hobbies etc. (and of course fika!). A calculation of approximate monthly expenses can be found below.

Estimation of living expenses

Cost of living and opening a bank account in SwedenAs a student you will have additional costs (apart from tuition fees, when applicable) related to living expenses. These include food, accommodation, transport, course literature, study material and other living expenses. 
Total per month: SEK 10845 - 13145​

Approximate monthly expenses for a student in Gothenburg:
  • Accommodation  SEK 4000 – 6300
  • Food SEK 2500 
  • Course literature SEK 750 (SEK 3000 per semester)
  • Telephone/internet SEK 400
  • Local travel (30-day period ticket) SEK 795* 
  • Clothing, hobby/leisure SEK 1400
  • Insurance, hygiene, other SEK 1000

* Within Gothenburg Zone A, without student discount (students get 25% discount on period tickets)

Opening a bank account in Sweden

  • There are several banks you can choose from so make sure to ask about possible service fees before deciding which one to choose.
  • If you intend to study in Sweden for more than one year, you can receive a personal identity number which will make it easier for you to open a bank account.
  • Are you staying in Sweden for less than a year it will be harder to open a bank account. However, the bank SEB accepts international students as clients.
  • Cheques are generally not accepted and banks do not handle large amount of money, so make sure to get the money/card situation sorted as soon as you can.
  • Bills are generally paid through online banking and your bank can help you set this up.
  • You can read more about bank accounts in Sweden on the Swedish Banker’s Association website​.

Related links

Financial requirements when applying for a residence permit, information from the Swedish Migration Agency
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Page manager Published: Mon 10 May 2021.