Are you considering relocating to Paris and wondering if 60,000 Euros is a good salary? Well, the answer is – it depends!
Paris is known for its high living costs, which can make it challenging to maintain a comfortable lifestyle. However, with proper budgeting and financial management, a salary of 60,000 Euros can provide a decent standard of living in the city of lights.
The Cost of Living in Paris
The cost of living in Paris can be quite high compared to other European cities. According to Numbeo, the world’s largest database of user-contributed data about cities and countries worldwide, the cost of living index in Paris is 91.26 as of August 2021. This means that Paris is more expensive than about 90% of cities in the world.
However, the good news is that salaries in Paris are generally higher than other French cities. According to INSEE (National Institute for Statistics and Economic Studies), the average gross salary in France was around 2,500 Euros per month in 2019. Therefore, earning 60,000 Euros annually puts you well above average.
What Can You Afford with a Salary of 60,000 Euros?
With a salary of 60,000 Euros per year (or roughly 5,000 Euros per month), you can afford a decent apartment in Paris. However, rental prices vary depending on the location and size of the apartment.
According to SeLoger – a popular real estate website in France – the average rent for a one-bedroom apartment in Paris ranges from around €800 to €1,500 per month. If you’re willing to live outside central Paris or opt for smaller apartments or shared accommodation options like co-living spaces or flat-sharing options like Appartager or La Carte des Colocs – prices will be lower.
You’ll also have enough money left over to cover other expenses such as groceries, utilities, transportation, and entertainment. Keep in mind that Paris is a bustling city with plenty to offer, but it can be easy to overspend if you’re not careful.
Tips for Living on a 60,000 Euro Salary
Living in Paris on a 60,000 Euro salary requires careful budgeting and financial planning. Here are some tips that can help you make the most of your income:
- Calculate your expenses: Track your monthly expenses to get an idea of how much you’re spending and where you can cut back.
- Use public transportation: Paris has an excellent public transportation system that includes buses, trains and metros. Using public transportation instead of taxis or ride-sharing services like Uber can save you a lot of money.
- Eat like a local: Eating out in Paris can be expensive.
However, there are plenty of affordable options like street food vendors and local cafes where you can enjoy delicious meals without breaking the bank.
- Explore free activities: Paris offers many free activities such as visiting museums on certain days or strolling through the parks. Take advantage of these opportunities to enjoy all that the city has to offer without spending much money.
In Conclusion
In conclusion, earning 60,000 Euros annually in Paris is a good salary that will allow you to live comfortably if managed wisely. With proper budgeting and financial planning – along with some cost-saving strategies – you can make the most out of your income and enjoy all that this vibrant city has to offer.