It’s pretty obvious that Stockholm is an expensive city. It’s the capital, the largest city in the country and the nordic region, and the “capital of Scandinavia.”
But if you, like 24% of Swedes live in Stockholm county, you’re in for some serious spending and judicious savings.
I thought I would break down my cost per month, which maybe helpful for those moving to the city for their Swedish dream. Even moving from Göteborg or a small town would mean a big sticker shock. Since I live with someone (thus saving on the fixed costs), I marked our joint total expenses with an **.
Even though I can be a cheap bastard, I eat out one or two times a week just because cooking every night of the week is impossible. I do not club anymore since I hate going out in Stockholm so I ‘save’ a lot there. SATS gym club is a whooping 550SEK a month but the gyms tend to be really nice and not as crowded as Friskis & Svettis, which is cheaper. If you’re working, you should be getting a health reimbursement of 2000-4000SEK annually. This can help offset gym memberships, massages (for real!), swimming hall, and sports/yoga classes.
Last, I eat dinner out two to three times a month with friends and spend at least 400 kronor for myself. If I buy anything like socks and underwear or a book, that adds another 500-1000 kronor. Sadly, there’s no bunny to shop for.
And the dreaded loans. I have student loans that amount to 2000 kronor per month. Your mileage may vary on this greatly.
With the variable costs, I spend 4910 (160+550+1200+1000+ 2000) on the mid-high end. At lowest amount, I spend 4000SEK and adding in shoes or gift shopping, the cost per month jumps to 6000 kronor.
In all, my costs are:
7500 on fixed costs
+ 4910 on variable costs
= 12410 Total kronor per month
Now, let’s factor in that you make 20000SEK after taxes in Stockholm, a solid, average salary. At a savings rate of 12% of your disposable income, at minimum you should save 2400 SEK a month. In reality, it’s good to prepare for a rainy day or a trip you have planned; save more.
Accounting for post tax salary and costs per month, I’m left with 7590 kronor, more than enough to save and take an awesome trip later on.
Yes, it costs a lot of month to live in Stockholm, but there’s no reason for you to be one of the broke-on-the-24th-of-the-month people.
Wait, there's more to read!