How much money is needed to survive

How much money do you need to live? (Current statistics provide surprising results)

Statistics: How much money do you need to live a month?

The more people we ask how much money they need to live, the more different answers we will get. The fact is: one spends more, the other can manage with less per month.

Reasons lie in different consumption habits, the level of income, the family situation, the living situation and the quality of the insurance. Nevertheless, today we want to find a benchmark that is as specific as possible in order to be able to judge whether we are spending more or less than the average.

As the source for this article, I am referring to the most recent data from Statista. Specifically, we look at the statistics on the average level of consumer spending per household per month in Germany, which were published by the Statista Research Department on December 12, 2018.

Accordingly, the average monthly consumer spending per household in Germany is € 2,517.00.

  • Housing, energy and home maintenance: € 897.00
  • Food, beverages and tobacco products: € 348.00
  • Transport: € 348.00
  • Leisure, entertainment and culture: € 259.00
  • Accommodation and restaurant services: € 146.00
  • Interior fittings, household appliances and household items: € 140.00
  • Clothing and shoes: € 110.00
  • Health: € 98.00
  • Other goods and services: € 90.00
  • Post and telecommunications: € 64.00
  • Education: € 18.00
  • Sum: € 2,517.00

(Source: statista.com | accessed: 07/07/2020)

During my research, I also became aware that, for example, contributions for private insurance cover are not included in the list above. Here, too, it is obvious that insurance coverage premiums can vary greatly from person to person. Not only because of the fact that the number of insurance packages varies from person to person, it is also due to the fact that the costs vary depending on personal life situation, income or state of health.

But also for this I have researched the right statistics for you. Accordingly, in 2017 private households in Germany gave on average about € 123.00 per month for your insurance cover out. (Source: statista.com | accessed: 07/07/2020)

Examples of private insurance that make sense depending on the life situation: