Internships Advice

How Much to Budget for Living in Mexico

So you want to come to Mexico City for an internship! But now you may be wondering, “How much money should I budget for daily life in Mexico?”

The good news is, your money can go a long way in Mexico. You can get street food for about 30 – 40 MXN per meal, and spend 200 MXN when you want to really splurge! Even drinks can be cheap, with beers and cocktails generally from 50-80 MXN. Some bars even sell beer for as low as 20 MXN.

What is the MXN exchange rate?

For the current exchange rates, please see here.

1 GBP = 25.45 MXN

1 EURO = 21.83 MXN

1 USD = 19.17 MXN

1 AUD = 13.75 MXN

1 NZD = 13.20 MXN

**Exchange rates as of 27/02/2019

What kind of budget in MEXICO 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 Budget Estimates

Below, we have put together some budget estimates of your expenses in daily life during your time with InternMexico. 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 travel, we recommend that all interns sign up to ecobici, a system of public bicycles which you can use to get around the city and are well maintained. You can buy a membership card for 462MXN, which gives you unlimited 45 minute rides for the whole duration of your stay. Let us know in advance if you’d like a card, and we can order one on your behalf.

For food, all apartments will have kitchens, so you will have the option to cook your own meals. Food at supermarkets and markets is generally very affordable, and making your own meals and packed lunches is a great way to save money.

BUDGET BREAKDOWN

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

Expense Type Cost per week Description
Transport 50-80MXN/week Metro (5MXN), Metrobus (6MXN), ecobici
Food 750MXN/week Lunch out (40MXN); Dinner out (80MXN); Breakfast/snacks (25MXN)
Packed lunches & eating in 4x /week (50MXN/day)
Treats 350MXN/week One night out per week including a few drinks/taxi
IM events 400MXN/week Attending IM events every weekend (optional)
Avg weekly 1,525MXN
Avg monthly 7,000MXN

 

For those who go to the gym, eat more western food or spend more in other ways:

Expense Type Cost per week Description
Transport 240MXN/week Taxi (60MXN) 3x/week; Metro (5MXN); Metrobus (6MXN)
Food 1000MXN/week Lunch (50MXN); Dinner (120MXN); Breakfast/snacks (30MXN)
Eating in 4x /week
Treats 600MXN/week gym, nights out with reasonable priced drinks, travelling to places within the region
IM events 1200MXN/week Attending InternMexico events every weekend and most big three-day trips (optional)
Avg weekly 3,000MXN
Avg monthly 13,500MXN

For those who would like to spend more on cocktail bars, taxis or foreign imports:

Expense Type Cost per week Description
Transport 840MXN/week Taxis (60MXN) 2x/day; Metro (5MXN); Metrobus (6MXN)
Food 2,000MXN/week Lunch (80MXN); Dinner (150MXN); Breakfast/snacks (60MXN)
Treats 1,500MXN/week Nights out at classy clubs and cocktail bars; Shopping for foreign imports; Gym; Individual travel
IM events 1,500MXN/week Attending IM events every weekend and all big three-day trips (optional)
Avg. weekly 5,850MXN
Avg. monthly 25,000MXN

As you can see, you don’t need too much money in Mexico to have a good time. Be careful when you have a craving to buy a cup of Starbucks coffee or give into the temptation to use cheap Ubers to get to work instead of taking the bus, as not everything is cheaper in Mexico, and all the little costs can quite quickly add up. All in all, however, you should find that your monthly budget in Mexico is significantly less than it is back at home!

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 see 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.

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