Personal expenses refer to meals, books, incidental/personal purchases, and local transportation. These amounts will vary with the Euro per Dollar exchange rate. Our estimate of basic personal expenses for 2015-16 is $3,200 per semester. These are the estimated living expenses for the semester and should be used for financial aid budgeting. However, if you are attending for the full year, you will need some extra food and travel money for the semester break. You can keep your room during the break at no extra cost.
The dollar amount is an estimate based on the current exchange rate and it may get better or worse by September. We recommend that students have about €500 per month available to them regardless of the exchange rate to cover basic living expenses as well as discretionary spending, since vacation travel, eating in restaurants, entertainment, and major purchases will certainly add to basic personal expenses. The current exchange rate can be found at www.xe.net/ucc/.
Students may wish to adjust this amount higher or lower depending on their own particular lifestyles and resources. JYM students tend to find bargains and develop spending habits which optimize their financial resources. JYM students are also allowed to find part-time jobs while in Munich which can offset basic personal expenses. Instructions on how to receive money in Munich and manage your living expenses are detailed in the Pre-departure Information Bulletin.