Budget for rent

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Budget for rent

Post by BritishTree » Wed Oct 07, 2020 10:48 am

Hello one and all.

I'm a UK citizen currently living in Finland and this is the first time I've ever lived alone, so everything is a bit of a learning process for me. I was wondering what the general tax levels are like in Finland and what the maximum realistic rent I can afford is for someone living in the Otaniemi area. I can't drive, so I will be reliant on public transport/walking/cycling. My income should be about 30k a year before tax. Is something that is 900 euros with all bills included reasonable or way out of my budget?

In regards to other expenses, I am quite an introverted individual and as such I don't really go out or eat out often. I use my family's Netflix account and watch primarily YouTube and run in my free time. So the cost of my hobbies are quite low, or essentially zero.

Thanks for reading, I appreciate the advice.

Budget for rent


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Re: Budget for rent

Post by agroot » Thu Oct 08, 2020 11:04 pm

The tax calculator is here https://www.vero.fi/en/individuals/tax- ... alculator/ 30k a year should be 12.5%

On top of that you need to subtract pension which is around 8.4%. So you get like 30k * (1 - 12.5% - 8.4%) / 12 = around 2k per month.

Rent is the single biggest expense. Unless you want to live with others you have to expect something like 700-800 euro at least, because small apartments are much more expensive per sqm. I used oikotie.fi for rental. Water is nearly free and electricity less than 50 because heating is free too.

I spent less than 300 on grocery not including wine - but if you buy microwave food or salad everyday the cost would increase a lot. When the damn virus is ended you could try some new, costly hobbies. Also saving for long vacations.

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Re: Budget for rent

Post by lachlan » Wed Oct 14, 2020 10:58 am

Also, since you mention Otaniemi, if you are a student then make sure that you look at student housing.

Otherwise, when I moved here in 2018 I was making somewhat more than you said, at €3500/mo before tax, leaving about €2500 after all withholdings. Of this I was spending around €1400, including a €700 rent that had all utilities included, and making positive effort to save money. Costs will have gone up slightly since then. So €900 is probably manageable for you, but on the expensive side. If you could find something a bit cheaper then you might well end up with significantly (> 50%) more money to save/spend on other things. This will be easier if you look outside of just the Otaniemi area; between the metro and the 550 bus, getting into Otaniemi is not very difficult, so you wouldn't lose too much.

The previous poster calculated your after-tax income, but you should also check whether it includes a holiday bonus, as if your income is specified annually then you may need to divide by 12.5 or 13 to calculate your monthly income.

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Re: Budget for rent

Post by inkku » Wed Oct 14, 2020 12:41 pm

If you look for student housing or flat share, you will get something very decent between e500-600pm. In addition to Otaniemi, check Leppavaara which is a short distance for walking or cycling. But Otaniemi is a very nice area!!!!
Bills are not much, usually heating is included, water can be min e20 per person in a month. Electricity, minimum e20-30, and compulsory home insurance ? perhaps e10-20 per person. So between e50-100 per month.

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