A fully funded scholarship doesn't mean money stops being a worry. Moving countries is expensive, and Erasmus Mundus students may move two or three times. Here's how I'm budgeting.
Where to get real numbers
- Each university's international office publishes estimated monthly student costs. Start here.
- Student unions and housing offices publish rent ranges.
- National statistics offices for price levels.
Use the most conservative estimate you find.
Monthly costs: the categories
| Category | Notes |
|---|---|
| Rent | Usually the biggest item. Student housing is cheaper but scarce |
| Utilities | Sometimes included in rent. See electricity costs |
| Food | Cooking at home vs canteens vs eating out |
| Transport | Student passes are often good value |
| Phone and internet | |
| Health insurance | Required. Sometimes covered by the scholarship |
| Study materials | Laptop repairs, books, printing |
| Social and travel | Budget for it, or you'll overspend |
One-off costs (repeat per move)
- Flights and luggage
- Visa and residence permit fees
- Rental deposit (often 1–3 months' rent)
- Bedding, kitchen basics
- Temporary accommodation while flat hunting
- City registration and admin
With mobility every semester, these can add up to a significant amount over the programme.
A monthly budget template
| Item | Budget | Actual |
|---|---|---|
| Rent | ||
| Utilities | ||
| Food | ||
| Transport | ||
| Phone/internet | ||
| Insurance | ||
| Personal/social | ||
| Savings buffer (10%) | ||
| Total |
Compare your total to the allowance and keep a buffer for the first two months.
Tips
- Arrive with savings. Allowances may arrive after rent is due.
- Book student housing early. It goes fast.
- Split costs fairly in shared flats (rent split guide).
- Use a multi-currency account if moving between euro and non-euro countries.
- Track spending monthly. My Unit Price calculator helps with groceries, honestly.