Cost Of Living In Norway. What Is Your Budget?

Cost Of Living In Norway. What Is Your Budget?

Norway is considered as one of the most expensive countries to visit, or reside in but how expensive is it?

Many people who wish to travel abroad especially to Norway ask similar questions. How much do I need to travel and how much do I need to survive in a country with a very high living cost?

The truth is that Norway is expensive to visit or live in but it is more complicated than that when you are in Norway you earn in Norwegian Kroner and you equally spend in Norwegian kroner.

What this means is that the currency you use in your home country is probably not of the same value with the Norwegian currency and you need not compare them.

Norway pays higher wages compared to other countries which means you have enough money to cover the expenses. Norway also offers some public services which have helped to offset some of the high costs.

Because of the open social system in Norway, there isn’t much gap between low and high pay rates. Executive-level workers may discover that, because of the tax payment structure, they won’t have substantially or extra cash than somebody who is trading.

Making more cash isn’t really as worthwhile when somebody winds up paying more or higher government obligations (Taxes for instance) on that pay.

It is likewise testing to set aside some cash for the time being, and except if they have secured for themselves a decent expat migration plan, a new migrant may discover on the long run that they will require two sources of livelihoods to survive.

For a student who is looking to study in Norway, you will need roughly a budget of about NOK 11,500 every month to ensure your basic needs and expenses are covered.

Here is an idea of the basic things you will mostly spend on;

  • Accommodation: 18, 000 Kr
  • Food: 16, 600 Kr
  • Books and Supplies: 5000 Kr
  • Transport: 3000 Kr
  • Others Expenditure: 12, 500 Kr

This should give you a rough idea of the total amount you will be spending for 5 months which should be about NOK 55, 100. For the first semester, you will likely spend more on setting up your household and buying the appropriate clothes for the Norway climate.

For an immigrant who isn’t going for any schooling activity, your cost of living will depend on your personal situation, employment i.e. the type of job you have and well they pay, and your lifestyle will also determine how much you spend.

Let us dive in a little on some of the basic things you will mostly spend on.

Accommodation:

The cost of acquiring a house is quite expensive particularly if you are settling in Oslo and Stavanger. You will be required to pay a three months’ upfront fee which is a deposit and then your actually monthly rent.

  • A shared house will cost you 3000kr for each bedroom
  • A one bedroom will cost you from 7,500 – 12, 500kr depending on the location
  • A family sized apartment could cost you 12, 500kr – 20,000kr

Transportation

  • One-way Ticket (Local Transport) 35.00-40.00 Kr
  • Pass per month (Regular Price) 680.00-780.00 Kr
  • Taxicab (Normal Tariff)   50.00-130.00 Kr
  • Taxicab 1km (Normal Tariff)   11.00-21.00 Kr
  • Taxicab 1hour Waiting (Normal Tariff) 400.00-547.00 Kr
  • Gas (1 liter)  15.00-17.00 Kr
  • Volkswagen Golf 1.4 90 KW Trend line (Or similar New Car) 270,000.00-350,000.00 Kr
  • Toyota Corolla 1.6l 97kW Luxury (Or similar New Car)      239,000.00-365,000.00 Kr

Basic Amenities:

  • Basic (Electricity bill, Heating bill, cooling bill, Water bill, Garbage bill) for 85m2 houses 850.00-2,600.00Kr
  • 1 minute of Prepaid Phone Tariff Local (No Discounts or Plans)   0.45-1.00 Kr
  • Internet (60 Mbps or More, Unlimited Data, Cable/ADSL)  339.00-600.00 Kr

Food:

Some food items are still quite very cheap in Norway, as the cost of fresh fish. And yet it is quite expensive to eat out this is due to the high wages paid to workers. Norwegians hardly eat out.

  • Eggs (dozen) 38Kr
  • Milk (1 litre) 20 Kr
  • Rice (1kg) 23 Kr
  • A Loaf of bread 28 Kr
  • Chicken (1kg) 110 Kr
  • Cigarettes a pack (Marlboro) 120 Kr
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