Living costs and student discounts
Lead paragraph
In Finland, the wages, taxes and general living costs are slightly higher than generally in Europe. However, most of the public services are funded by taxes, which makes them affordable and accessible to all residents.
Living costs
Finland is a relatively expensive country to live in, so while the official minimum requirement set by Finnish Immigration Service Migri is €800 per month, we recommend you reserve a bit more for your living expenses, approximately €900-1200 per month. This includes groceries, accommodation, public transport and entertainment. It is advisable to budget a larger sum for the first month after your arrival, as there are always essential items which need to be bought in the beginning of your studies.
The minimum monthly budget could be roughly divided as follows:
- Rent:
- Student housing:
- Shared apartment €270–430
- Studio apartment €480–700
- Private housing: €600–900
- Student housing:
- Groceries: €300–400
- Public transport (student-discounted pass): €40-60
Other expenses, e.g. insurance, phone plan, student healthcare fee (currently around €35 per term) and other study materials also need to be taken into account. Please note that expenses for study materials are relatively low in Finland, because you can borrow most books from Haaga-Helia's library or from other libraries.
You must prove sufficient finances and insurance when applying for a student residence permit.
Remember that finding employment during your studies can be quite challenging, especially without Finnish/Swedish skills. So you should not base your financial plans on the uncertain prospect of finding part-time employment during your studies.
Student discounts
University students are entitled to discounts for various services in Finland.
All students will receive a meal benefit card after their arrival to Haaga-Helia which entitles them to meal discounts at all student restaurants in Finland.
Students living in the Helsinki metropolitan area can also get a student discount on a monthly travel card for local travel inside the Helsinki metropolitan area.
An easy option to get all the student discounts is to obtain a Haaga-Helia's student union HELGA's student union card. The card entitles you to discounts on transportation (both local and long-distance), meals, and several other services (cultural and recreational activities) with one single card.
You will receive more information about the student card and HELGA in the beginning of your studies.
Currency and payments
Finland uses Euro (€, EUR, E, e) as its currency. Most stores accept Visa, MasterCard, and debit cards. In general, Finns tend to prefer card payments.
If you need cash, you can obtain it from a cash machine in the Otto Network. Otto machines work with international cards bearing the following symbols: Visa, MasterCard, Visa Electron, Maestro, EC, Cirrus, and Plus.
Bills, such as your rent, must usually be paid to the recipient's bank account.
Banks
The policy for opening a bank account depends on the bank, so it's very hard to give exact steps for opening a bank account. We recommend that you contact the bank beforehand and inquire about the possibility of opening an account and asking what documents are needed. Banks in Finland are mostly open Monday to Friday 10.00-16.30.
Banks operating in Finland:
Exchange students
Students coming to Haaga-Helia through the TFK exchange programme can open a Finnish bank account if necessary but also a foreign bank account that accepts international payments is okay. If you wish to open a Finnish bank account we recommend you visit the bank with your tutor and schedule an appointment with the bank in advance.