Managing Your Student Finances in Finland
Plan your budget effectively with this guide to tuition fees, living costs, scholarships, and financial requirements for studying in Finland.
Finland Student Money Guide
Yearly Tuition in Finland
EUR 9,000 to EUR 20,000
Key Money Topics
Read each guide to plan your full budget.
Plan Your Budget
Costs for Finnish cities.
Essential Monthly Expenses
Student housing in Turku, a month
Student cafeteria meal: EUR 3.10
Student bus card for local buses in Turku, a month
Other costs in Turku, a month
Banking in Finland
You can usually open a Finnish bank account only after you arrive and register.
- Gives you an account, a debit card and codes for online banking.
- Everyday banking costs nothing for the first 3 months.
- Service in Finnish, Swedish and English.
- You start with an online form, then a branch visit.
- Opening an account takes about 5 to 10 days.
Documents to Open an Account
- Valid passport
- Residence permit card, or proof that you have applied and are waiting
- Finnish personal identity code (a Finnish ID number)
- Address in Finland
Money Transfer Options
Bank Wire Transfers
Traditional bank-to-bank transfers using SWIFT/BIC codes.
Money Transfer Services
Services like Wise, Remitly, Western Union, and MoneyGram.
Common Payment Methods
Cash
Keep some cash on hand for small purchases and emergency situations. ATMs are widely available.
Smart Financial Tips
Expert advice to help you manage your finances effectively while studying in finland
Budgeting
Plan EUR 900 to EUR 1,200 a month for living costs across Finland, depending on the city. This is not the same as the EUR 9,600 you must show for your permit.
Helsinki costs the most. Students there need EUR 1,000 to EUR 1,300 a month.
Saving Money
Eat at student cafeterias. A student cafeteria meal in Turku costs EUR 3.10 with a student card.
Use your student union card for transport and meal discounts.
Banking
You need a Finnish personal identity code (a Finnish ID number you get when you register) to open a bank account.
If you work, your pay goes into a Finnish bank account.
Pro Tips for finland
Currency Management
- • Monitor exchange rates and transfer money when rates are favorable
- • Use multi-currency cards to avoid conversion fees
- • Keep some local cash (EUR) for emergencies
Local Financial Culture
- • Learn about local tipping customs and practices
- • Understand tax obligations for international students
- • Explore local student financial support programs
Remember: Financial planning is key to a successful study abroad experience. Start planning early and don't hesitate to seek advice from financial advisors or your university's international student services.
Complete Guide to Finland
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