Money Matters - Häme University of applied sciences
Money Matters
Students on a computer
Students on a computer.

Money Matters

Money matters

How to prepare for your studies

Education is one of the biggest, yet one of the most rewarding investments you can make. In order to make the most of your studies, it is important to prepare your finances beforehand.

Firstly, If you are degree student coming from outside the European Union or the European Economic Area, familiarize yourself with our tuition fees and scholarship programme.


Living Cost in Finland

The expected monthly living costs varies between student to student and their lifestyles. On average students spend €600 – €700 per month on their living expenses.

Example of a monthly budget:

  • Rent: €300  (own room in shared apartment with 1-2 students)
  • Daily warm lunch at school: €3.06/day, all together approximately €60/month
  • Food and beverages: €300/month (depending on your lifestyle)

Other initial costs to consider:

  • Proving your incomes for residence permit (only non-EU/EEA students):
    For the student residence permit, you must have at least 560 euros per month to pay for your accommodation, food and other expenses. For one year of residence, you will therefore need 6,720 euros in total in your own bank account.
  • Insurance
  • Flight ticket to Finland
  • Transportation from airport to your campus
  • Deposit for your apartment
  • Small household items

Making purchases in Finland

The most common method of payment is debit or credit card, although cash is widely accepted.  Foreign debit and credit cards can be used in Finland, but it is best to check with your card provider before arriving to Finland.

Payment cards in Finland are chip and pin cards. If your debit or credit card is not a chip and pin card, we would strongly advice to check with your bank if a chip and pin card is available to you.

Bills including rent and utilities are usually paid by direct debit or by a monthly bank transfer directly to the service provider´s bank account.

Students can open a bank account in Finland, if they choose to do so, after they have registered and received a Finnish indentification number. This can be done by visiting a bank branch with the needed documents.

Working in Finland

International exchange and degree students are allowed to work in Finland, with certain restrictions. Students from EU/EEA countries are allowed to work full time without having to seek for a permit. Students from outside the EU/ETA countries are allowed to work 25h per week during term time. For further details please visit Finnish Immigration Service´s website

If you work in Finland, you have to pay tax. Taxation depends on the length of your stay and the type of your employment. There are tax agreements, which allow tax deductions for students. For more information on tax, please visit The Finnish Tax Office´s website