Guide to Money in Germany (2024)

FAQs

How much money is enough in Germany? ›

What is the cost of living in Germany? It would be hard to get by for less than €1,000 a month in Germany, and this rises to around €1,500€ - €2,000€ in the cities where rents are higher. Students can usually cover living costs for around €850 a month.

So for 2 weeks in Europe, a budget traveler may spend around 1,120 Euros. This could be lower if you budget to the extreme. Keep in mind, a work exchange cuts your accommodation costs down to 0, and your food, transport, and activity costs may be lower as well depending on what your host offers.

Cash sums totalling 10,000 or more euros on trips to and from Germany must be declared to the customs authorities. This applies to both cash and equivalent means of payment.

If it's net, it's right in the middle average. So yes, it should be enough if you live alone and don't overshoot in terms of living style. No mansions and you will have to cook at home sometimes, but otherwise perfectly average (unless you live in Munich, where everything is hella expensive).

For budget travelers, you can expect to spend around $50 to $70 per day in Germany, while mid-range travelers can expect to spend around $100 to $150 per day. It's important to plan ahead and research activities and costs to create a budget that works for you.

I think you could get by on about 30-35 Euro each per day (70 euro total). Breakfast will be included in most hotels you stay. Dinner will run about 15 Euro, plus beverage..18-20 Euro. Bratwurst & soda for lunch, maybe 5 Euro.

With time at your disposal, you'll be able to see exactly what the fee and rate is, and how many euros you'll get for your dollars. It's possible of course that you might get a better deal when you land in Europe. It may well be the case that fees are lower and exchange rates better.

That largely depends on the standards you are looking to meet. A studio flat can be had between €500-700, one bedroom around €1000, add utilities for about €150 including electricity, TV, phone. You might spend about €70 on food per week per person, Dining out will cost you about €20-€30/person including wine.

Depends where you are and where you are staying, but 400 euros for a week is more than enough. Unless you stay in a five-star hotel and eat every meal at a restaurant, 400 euros should be enough to buy food, accomodation and utilities for a week.

Important: whether you are shopping, in a restaurant or at the club, Berliners prefer to pay with cash. Debit cards and major credit cards (American Express, Visa, Mastercard) may often also be used, but smaller shops and cafés might only accept cash payments.

Does Germany accept U.S. dollars? ›

It is not possible to pay for anything in U.S. dollars, but you should have no problem exchanging currency. The large number of banks and exchange services means that you can shop around for the best rate, if you're so inclined. But the cheapest and easiest way to go is using your ATM card.

Debit cards with a Mastercard or Visa logo are widely accepted in Europe. American Express is somewhat less common, except at tourist destinations. Most banks charge a foreign transaction fee and/or a currency conversion fee, so it is worth double-checking these costs before departure.

Resist the urge to buy foreign currency before your trip.

Some tourists feel like they must have euros or British pounds in their pockets when they step off the airplane, but they pay the price in bad stateside exchange rates. Wait until you arrive to withdraw money.

Germany uses the popular euro, so your travel money will stay super simple. It also makes it handy if you're planning to visit Germany's eastern neighbours or head down to Austria (they use euros too).

A single person who plans meals carefully, doesn't eat too much meat, and shops at discount supermarkets can do their weekly shopping for less than €50 a week (not including alcohol or toiletries). This makes the daily cost of food in Germany around €7 provided you eat leftovers for lunch and avoid eating out.

Estimates suggest that Indian students in Germany can expect to spend anywhere between €850 to €1,200 per month on living expenses. This range can vary depending on several factors, including: City of residence: Major cities like Munich and Frankfurt tend to be more expensive than smaller towns.

A salary between €64,000 and €70,000 gross a year is considered a good salary in Germany. For a single person, this means roughly €40,000 to €43,000 euros net a year or between €3,300 and €3,600 euros net a month.

Now on to the most crucial question: What's a good salary in Germany? This depends on various factors such as where you live and your lifestyle. Generally, earning between €70,000 and €80,000 annually is seen as comfortable. This range is especially relevant in cities like Munich, where living costs are higher.

2500 EUR/month net income would be pretty comfortable even in an expensive place like Munich. 2500 gross would leave you about 1600 net, which still is just a bit below the average in Germany - more than enough to survive, though if you plan to raise a family on it, you better be living in a cheaper area.