So, you want to come to Taipei for an internship. You may be wondering, ‘How much money should I budget for daily life in Taipei?’ Well, good news! If spent wisely, your money can get you far. Daily costs are slightly more expensive compared to other Asian destinations. Food comes at a standard price, with an average restaurant charging around 130 NT$ for a meal. Drinks can also vary with prices, with a local beer costing 57 NT$. However, you may want to save up some money when wanting to visit tourist locations and splash out on Western food.
For the current exchange rates, please see here. (https://www.xe.com/currency/eur-euro/)
1 GBP = 36.9
1 USD = 27.7
1 AUD = 19.7
1 CAD = 21.7
1 NZD = 18.9
**Exchange rates as of 02/12/2021
Your individual lifestyle is the main factor that will determine your budget. It will vary depending on what transportation you decide to take, personal dining preferences, nightlife and more.
WEEKLY/MONTHLY EXPENSES
Below, we have put together some budget estimates of your expenses in daily life during your time on your internship. In general, you can live on a low budget and still be able to live quite well. For those looking to spend a little more, there are also medium and high budget estimates. See which budget is right for you!
Getting around Taipei is a fairly easy task. Luckily, their public transit is affordable and reliable around the city. Travelling via the metro is a tourists’ favourite way of getting around. But there are plenty of other options with buses and bicycles to take you to the city centre.
(For food, all apartments will have kitchens, so you will have the option to cook your own meals.) Food at supermarkets are affordable, but you may find that some discount shops such as Carrefour or Pxmart will make your money last.
For those looking to save money while still having fun and trying new things.
| Expense Type | Cost per week | Description | |
|---|---|---|---|
| Transport | 15 NT$ | Transport using metro (1.10 NT$ per trip) | |
| Food | 2230 NT$ | Shop at local marts (2000 NT$); Lunch out (100 NT$); Dinner out (130 NT$) | |
| Treats | 2500 NT$ | One night out with a few drinks and taxi | |
| Extras | 1265 NT$ | Going to museums/cinema | |
| Avg weekly | 6010 NT$ | ||
| Avg monthly | 24040 NT$ |
For those who go to the gym, eat out more or spend more in other ways.
| Expense Type | Cost per week | Description | |
|---|---|---|---|
| Transport | 30 NT$ | Transport using metro and buses | |
| Food | 2600 NT$ | Shop at local marts (2300 NT$); Lunch and dinner with mix of Asian and Western food (300 NT$) | |
| Treats | 3500 NT$ | Couple nights out with drinks and taxi | |
| Extras | 1730 NT$ | Going to museums/cinema/gym | |
| Avg weekly | 7860 NT$ | ||
| Avg monthly | 31440 NT$ |
For those who would like to spend more on cocktail bars, taxis or shopping.
| Expense Type | Cost per week | Description | |
|---|---|---|---|
| Transport | 60 NT$ | Using metro, cars and taxis everywhere | |
| Food | 3300 NT$ | Shop at local marts (2500 NT$); Lunch and dinner with Western food (800 NT$) | |
| Treats | 4200 NT$ | Nights out at classy clubs with drinks and taxi/clothes shopping | |
| Extras | 1950 NT$ | Going to museums/cinema/gym/individual travel | |
| Avg weekly | 9510 NT$ | ||
| Travel | 5550 NT$ | Going on a weekend trip | |
| Avg monthly | 43590 NT$ |
As you can see, you don’t need too much money to enjoy life in Taipei. Be careful when you have a craving to buy a western coffee or give into temptation of using private taxis to get to work instead of taking the bus. Not everything is cheaper in Taiwan, 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)
