Internships Advice

How Much to Budget for Living in Berlin

So, you want to come to Berlin for an internship. You may be wondering, ‘How much money should I budget for daily life in Berlin?’ Well, good news! If spent wisely, your money can get you far. Daily costs are generally inexpensive and you can dine out cheaply compared to other European destinations. Food comes at a standard price, with an average restaurant charging around €10-15 for a meal. Drinks can also vary with prices, with a German beer costing €3-4. However, you may want to save up some money when wanting to visit museums and tourist locations as they can get a little pricey.

What is the Euro exchange rate?

For the current exchange rates, please see here. (https://www.xe.com/currency/eur-euro/)

1 GBP = 1.15

1 USD = 0.85

1 AUD = 0.61

1 CAD = 0.67

1 NZD = 0.59

**Exchange rates as of 01/10/2021

What kind of budget in Berlin is right for me?

Your individual lifestyle is the main factor that will determine your budget. It will vary depending on what transportation you decide to take, personal dining preferences, nightlife and more.

WEEKLY/MONTHLY EXPENSES

Below, we have put together some budget estimates of your expenses in daily life during your time on your internship. In general, you can live on a low budget and still be able to live quite well. For those looking to spend a little more, there are also medium and high budget estimates. See which budget is right for you!

For transportation, most people use the BVG AB ticket for €86 per month. This ticket is used for all transportation links such as the bus, train and tram services. You may find more information on their official website here. (https://www.bvg.de/en/tickets-tariffs/all-tickets)

(For food, all apartments will have kitchens, so you will have the option to cook your own meals.) Food at supermarkets are affordable, but you may find that some discount shops such as Lidl and Aldi will make your money last.

Click to browse Low, Medium & High budget ranges.

For those looking to save money while still having fun and trying new things.

Expense TypeCost per weekDescription
Transport€20Monthly flat rate BVG ticket (€86)
Food€50Shop at Aldi/Lidl (€30); Lunch out (€10); Dinner out (€10)
Treats€30One night out with a few drinks and taxi
Extras€40-50Going to museums/cinema
Avg weekly€150
Avg monthly€600

For those who go to the gym, eat out more or spend more in other ways.

Expense TypeCost per weekDescription
Transport€25Monthly flat rate BVG ticket (€86) and taxi
Food€70Mix of shopping at Aldi/Lidl and organic shopping (€40); Lunch out (€15-20); Dinner out (€15-20)
Treats€60Couple nights out with drinks and taxi
Extras€50Going to museums/cinema/gym
Avg weekly€205
Avg monthly€820

For those who would like to spend more on cocktail bars, taxis or shopping. 

Expense TypeCost per weekDescription
Transport€35Monthly flat rate BVG ticket (€86) and taxi x2
Food€90Organic shopping (€50); Lunch out (€18); Dinner out (€18)
Treats€70Nights out at classy clubs with drinks and taxi/clothes shopping
Extras€60Going to museums/cinema/gym/individual travel
Avg weekly€255
Travel€150Going on a weekend trip
Avg monthly€1170

As you can see, you don’t need too much money to enjoy life in Berlin. Be careful when you have a craving to buy a Starbucks coffee or give into temptation of using cheap Ubers to get to work instead of taking a tram. Not everything is cheaper in Germany, and all the little costs can quite quickly add up. So it’s important to find the right budget for you.

For international payments, we always recommend using TransferWise. They’re cheaper than the banks, because they always use the real exchange rate – which you can check out on Google – and charge a very small fee. They’re also safe and trusted by over 2 million people around the world. You can sign up here. (https://wise.com/?clickref=1011lijaZwQY&partnerID=1100l59541&utm_medium=affiliate&utm_campaign=0&adref=&utm_source=pagodaprojects&partnerizecampaignID=1011l727)