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Finances

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Budget / Expected Expenses for 6 months

Expenditures

DKK

Housing: Autumn

DKK 9,675 - 22,970

Housing: Spring

DKK 11,610 - 27,564

Personal expenses

DKK 15,000

Books/supplies

DKK 3,000

Transport with bus, train, metro

DKK 2,500

Total: Autumn

DKK 30,175 - 43,470

Total: Spring

DKK 32,110 - 48,614

Naturally your expenses while in Denmark will depend on your living situation and your own spending habits. Since it is difficult to know what those are, we can only give you a general idea of some of the costs you will encounter in Denmark.

Housing: This depends upon what you are assigned or can find yourself. The prices are subject to change.

Personal Expenses, includes food: You could survive on approximately DKK 1,800 a month for food. A hot meal in the CBS cafeteria costs approx. DKK 27. If you plan to eat out in restaurants, then plan on spending much more for food.

Books/supplies: The cost depends of course on the subject but most foreign students are shocked at the price of books in Denmark. However, you should always check to see whether the book is available in the CBS Library. A book can cost anywhere between 150 and 600 kroner; however, you can save a great deal of money by buying second hand books from other students. Check the notice boards at CBS for any good offers AND do not forget to check e-Campus and look under books.
Important: The Copenhagen Business School's bookshops do not accept credit cards, and textbooks must be purchased in cash. Keep this in mind when planning your budget before arrival.

Miscellaneous costs in Copenhagen that may be of Interest:
as from June 2007:

Item

DKK

Bus/Train/Metro ticket - 1 trip (2 zones)

DKK 19

10-time clip card (2 zones) for Bus/Train/Metro

DKK 120

10-time clip card (3 zones) for Bus/Train/Metro

DKK 160

Monthly pass 3 zones for Bus/Train/Metro

DKK 420

Cinema ticket

DKK 75

Tivoli entrance

DKK 75

Dining out (not extravagantly)

DKK 200

Entrance to Disco

DKK 50-60

Soda or beer in a pub

DKK 20 - 30

Soda or beer bought at the supermarket

DKK 5

Cappuccino or Latté

DKK 20 - 25


Money Arrangements / Expenses / Banking
Ask your bank about which options you can use for withdrawing money while you live and travel abroad. Inquire about fees associated with withdrawal because the charges can vary greatly from bank to bank.

You will find that most major credit cards are honored in Denmark and that you will be able to use credit cards for payment in restaurants, cafes and in most shops - the exception is supermarkets. Credit cards are not honored there.

You might want to bring some Danish kroner with you when you arrive for immediate expenses. Remember that if you are staying in a private housing, you must be prepared to pay your first 1½ months’ rent and 1 month’s deposit to your landlord/lady upon arrival.

If you plan to use Euro cheques or traveler’s cheques please remember that every time you exchange money the bank charges approx. 35 DKK (USD 6) in commission, regardless of the amount exchanged.

For European students, it is possible to have your own postal giro account at home and use it via post cheques here in Denmark. The procedure is fairly straightforward in as much as you can go to any post office and obtain Danish kroner by using the cheque, and the money will be drawn from your home account.

Money orders made out in Danish kroner can be dispatched and received from most post offices in Denmark.

In Denmark, as in many other countries, it is not a good idea to carry large sums of money. Therefore, it is natural to open a bank account. You will receive information on how to open an account after your arrival.

If you use cheques, please note that personal cheques made out by foreign students in Denmark on a foreign account cannot be cashed in Denmark and even bankers’ drafts are not accepted by Danish banks for deposits. Please ask your bank at home for the best way to transfer money to transfer money.


Last updated by The International Office 13/12/2007