Cost Of Living For a Couple in Guinea 2025

Average monthly spending for couples in Guinea

How much money does a couple need in a month to survive in Guinea?

Couples in Guinea spend around 8M GNF per month on average. Depending on the lifestyle, a couple can survive with a monthly budget as low as 2.7M GNF or as high as 42M GNF. Location and income are very important factors and have a huge influence on expenditure and budget.

Couple expenditure to income ratio in Guinea

Analysing the how affordable it is for couples to live in Guinea

One of the most definite ways to determine how affordable a place is measuring the ratio of expenses to salary. A high expense-to-income to ratio indicates a high cost-of-living index while a low expenditure-to-salary ratio means the place is affordable to live in. Couples usually spend a larger chunk of their income than other population groups. A typical and healthy expenditure percentage for a couple of four ranges between 70% to 80%.

Couples in Guinea spend around 81% of their monthly income. Some couples spend as low as 73% of their income while some as high as 89%.

How do couples spend their money in Guinea?

We asked thousands of couples about their spending habits and expenditure break down.

Housing and accomodation expenditure for couples

Couples in Guinea typically spend from 21% to 38% of their total monthly expenditure on housing with 28% being the average. The average monthly spend on housing is 2.7M GNF with expenditure ranging from 900,000 GNF to 14M GNF. This cost mainly goes for rent but it also includes other accommodation-related expenses.

Electricity, utilities, energy, water, internet, and mobile expenditure for couples

Utility expenditure like electricity, water, and gas in Guinea ranges from 5% to 11% of total expenses with 7% being the average for most couples. The average monthly cost of utilities is 360,000 GNF with 110,000 GNF and 2.3M GNF being the upper and lower limits for a couple of four.

Transport, fuel, and commute expenditure for couples

Fuel consumption and cost of transport depend heavily on whether a couple resides near school and work, but roughly speaking a couple would expect to spend from 320,000 GNF to 5.1M GNF in a month on commuting with 950,000 GNF being the norm for most couples. This means that money spent on transport constitutes about 10% of total spending on average but can go as low as 4% or as high as 15%.

Food, groceries, and basic shopping expenditure for couples

The average outlay on groceries and basic houshold items for a typical couple in a month in Guinea is 1.1M GNF. The cost of groceries can range between 370,000 GNF to 5.9M GNF. Couples spend on average about 16% on food and groceries with upper and lower bounds of 11% and 21% respectively.

Healthcare and medical services expenditure for couples

Couples in Guinea allocate 7% to 17% of their total monthly expenditure to healthcare including health insurance and out-of-pocket medical expenses. The average spending on medical services and clinic visits is around 13%. The range of medical expenses range from 290,000 GNF to 4.7M GNF with 880,000 GNF being the norm for most couples.

Leisure and shopping expenditure for couples

This category mostly contains discretionary or non-essential expenses but also some non-discretionary spending like furniture for example. The monthly expenses range from 160,000 GNF to 2.5M GNF with 480,000 GNF being the average. Speaking of percentages, that equates to 2% to 7% of total expenses with an average of 4% for most couples.

Education and schooling expenditure for couples

Spending on education can vary drastically between different couples. On average, education constitutes 2% of the monthly expenditure of couples with 1% and 4% being the lower and upper bounds respectively. The average reported education cost is 160,000 GNF per month with 53,000 GNF being the minimum spent amount and 850,000 GNF being the maximum.

What percentage of couples in Guinea are able to save money and how much can they save?

Percentage of couples that reported their ability to save money

Almost 56% of surveyed couples in Guinea said that they can save some money at the end of each month while 44% reported that they have to utilize their whole income to survive.

How much money do couples manage to add to their savings?

Saving to Income Ratio

Average Monthly Saved Amount

Savings to income distribution levels for couples

Interpretation and Analysis

Couples that are able to save money can put anywhere from 12% to 32% of their monthly income to their savings, with 21% being the average for most couples. The average monthly amount of money that couples can put aside is 2.6M GNF with 860,000 GNF and 14M GNF being the minimum and maximum respectively.

Saving Challenges in Guinea

Reasons that make it difficult for couples to save money

We wanted to understand what is stopping couples from maximizing their savings in Guinea. Listed below are the answers given by the survey participants.

Around 6% of the couples said that their salary is too low to accommodate a portion for savings while 9% said that the high cost of living leaves little room for savings. 16% of the residents said that they are burdened with debt and find it challenging to save money. 11% reported that they just don't have the knowledge or discipline to create and stick to a budget, leading to overspending and an inability to save. 10% of couples blamed impulsive spending as the reason for saving inability. Around 6% said that unexpected expenses like medical bills or car repairs are derailing their savings goals. 6% bluntly said that they don't see the purpose of it and prefer to live each day to the fullest. 18% reported that they understand the value of saving but are putting off saving for the future, thinking they have plenty of time to start later. 12% blamed inflation, saying that every time they save some money they end up using it immediately. A surprising 3% said that social pressure and keeping up with peers or social expectations makes them overspend. Lastly, 3% blamed market instability and price fluctuations.

Typical saving choices for couples in Guinea

Where do people choose to put their savings?

A typical and healthy budgeting structure

The 50/30/20 rule

Spending among different people can vary significantly based on factors such as their income, lifestyle, location, and personal preferences. A commonly used guideline for budgeting is the 50/30/20 rule, which suggests allocating your income into three main categories in the following percentages.

• 50% for needs and financial obligations

  This category includes essential expenses like housing, utilities, groceries, transportation, and healthcare.

• 30% for wants and discretionary spending

  This category covers discretionary spending on non-essential items, such as dining out, entertainment, travel, and other lifestyle choices.

• 20% for savings and emergency fund

  This is the percentage that must be allocated to savings, emergency funds, and retirement accounts.

About financial planning, money management, and household budgeting

Affordable living in Guinea

Income and cost of living compatibility

We asked couples one simple question and recorded their answers.

Is it affordable or economical to live in Guinea?

Around 53% of surveyed couples think that living in Guinea is affordable with proper budgeting while 47% reported that it is just too expensive and not affordable even with frugality and thriftness.

Low-cost alternatives in Guinea

People are always looking for ways to cut down expenses and reduce expenditures. The hallmark of any affordable place is the availability of discount stores, bargain deals, smart or secondhand shopping, refurbished items, and couponing. We asked couples how easily cost-cutting is and the answers were distributed as follows:

Plenty of low-cost options54%

Few low-cost options46%

Based on the survey, 54% of the couples living in Guinea have no problem finding low-cost alternatives to support a frugal lifestyle while 46% think that thriftness is difficult due to scarcity in discount markets and secondhand outlets.

Emergency Funds For Couples

An emergency fund is a financial safety net comprised of easily accessible savings set aside to cover unexpected expenses or financial emergencies, typically amounting to three to six months' worth of living expenses. We asked couples of Guinea whether they have an emergency fund and the answers were as follows.

Yes49%

No51%

Based on the survey, 51% of the couples living in Guinea said that they don't have an emergency fund while 49% said that they do.

Financial Literacy in Guinea

Financial literacy is the knowledge of concepts and principles related to personal finance that allow individuals to make informed decisions regarding their money such as budgeting, saving, investing, borrowing, managing debt, financial risk management, and planning.

Financial Leteracy48%

We asked couple guardians and parents in Guinea whether they acquired any adequate personal financial training in their lives. Approximately 52% of the people who participated in the survey said that they are not well informed about the topics of budgeting, saving, etc., and just manage things based on their own experience, while 48% said that they know about the general principles of personal finance from sources other than their own experience.

Difficulty in Budgeting and Financial Planning

We wanted to understand whether couples of Guinea have problems or difficulties in managing their expenditures and savings so we asked people one simple question: do you struggle with your personal finances? 54% of the participants reported that they indeed struggle in creating budgets and in organizing their finances while 46% said that they have everything under control.

Struggles with finance54%

Easily manages finances46%

Financial goals of couples in Guinea

In an attempt to understand the economic situation in Guinea, we asked participants about their financial targets. By knowing what the population in general is trying to achieve, we can shed light on the economic outlook, cost of living, and quality of life in general.

Around 7% of couples said that their main goal is to establish an emergency fund to cover unexpected expenses while 37% said their number one priority is to pay off high-interest debt or loans and improve credit. 9% of surveyed people confirmed that saving for retirement to ensure a comfortable lifestyle in the final years is their main target. Around 8% reported that their priority is saving for the tuition fees and education costs of their children while 17% choose to buy a home or pay off existing mortgage before other things. 8% of the population would like to build wealth through investments such as stocks, bonds, mutual funds, or real estate. For 9% of people, saving for vacations or upgrading their lifestyle is the number one concern. Approximately 11% of the residents said that saving for healthcare expenses including insurance premiums is their main goal.

Debt, loans, and mortgages in Guinea

Percentage of couples who are in debt

According to the survey, 34% of the couples in Guinea have some kind of debt, loan, mortgage, or credit card payments while 66% reported that they don't have financial obligations to banks.

Debt-to-income ratio in Guinea

Interpretation

The debt-to-income ratio measures the percentage of income being paid as debt settlement across the population. It is calculated by dividing the monthly debt settlement payment of an individual by their monthly income. Based on collected data, approximately 30% of a couple's monthly income in Guinea goes to debt settlement.

Debt levels

Monthly debt settlement payment as percentage of monthly income

According to our data, 3% of the debtors in Guinea pay 60%+ of their income as debt settlement while 14% of the people pay 50% to 60% of their income for the same, which is quite an alarming financial situation for those individuals. 13% of people in debt dedicate 40% to 50% of their income to loan and mortgage payments while 15% dedicated 30% to 40% of income for same. Things are looking brighter for 13% of individuals as they only pay 20% to 30% of their income for loan and credit card repayment.

Distribution by type of debt in Guinea

11% of debtors in Guinea confirm that real estate mortgages constitutes the main part of their outstanding debt while 27% say that credit card payments are the reason they are in debt. Auto loans were the main type of debt for 20% of people and personal loans rose at 39%. Lastly, student loans are the main source of debt for 3% of debtors in Guinea.

Good debt vs. Bad debt

Not all debt is bad. Good debt typically refers to borrowing money for investments that can increase in value or generate income over time like purchasing a home or acquiring student loans. On the other hand, bad debt involves borrowing for things that fail to generate lasting value like high-interest credit card debt used for non-essential expenses like luxury items or vacations.

Loan Affordability Index in Guinea

Besides measuring the loan-to-income ratio, we asked couples of Guinea how many times in a year they defaulted or were unable to pay their due credit card or loan payments on time. Understanding how often people default on their due payments is one of the indicators of the cost of living and economic situation.

Frequency and percentage of people who failed to pay their monthly credit card or loan payments on time last year.

Housing costs, accommodation, and housing affordability in Guinea

Rent Cost in Guinea

Monthly Rent Prices

Studio apartment monthly rent cost

590,000 GNF

880,000 GNF

2.3M GNF

MINIMUM

AVERAGE

MAXIMUM

$68

$100

$270

1-bedroom apartment monthly rent cost

880,000 GNF

1.4M GNF

3.5M GNF

MINIMUM

AVERAGE

MAXIMUM

$100

$160

$410

2-bedroom apartment monthly rent cost

1.2M GNF

1.8M GNF

4.7M GNF

MINIMUM

AVERAGE

MAXIMUM

$140

$200

$540

3-bedroom apartment monthly rent cost

1.4M GNF

2.3M GNF

6.4M GNF

MINIMUM

AVERAGE

MAXIMUM

$160

$270

$740

Furnished apartment monthly rent cost

2.8M GNF

7M GNF

14M GNF

MINIMUM

AVERAGE

MAXIMUM

$330

$820

$1,600

Townhouse monthly rent cost

2.3M GNF

3.5M GNF

10M GNF

MINIMUM

AVERAGE

MAXIMUM

$270

$410

$1,200

House monthly rent cost

2.8M GNF

7M GNF

14M GNF

MINIMUM

AVERAGE

MAXIMUM

$330

$820

$1,600

Villa monthly rent cost

3.5M GNF

8.8M GNF

14M GNF

MINIMUM

AVERAGE

MAXIMUM

$410

$1,000

$1,600

The monthly rental cost of a studio apartment in Guinea ranges between 590,000 GNF and 2.3M GNF, meanwhile the cost of monthly rental of a one-bedroom apartment can be anywhere from 880,000 GNF to 3.5M GNF. Two-bedroom rentals rate ranges between 1.2M GNF and 4.7M GNF per month. The monthly rental for a three-bedroom apartment ranges from 1.4M GNF to 6.4M GNF. The average rent of a townhouse in Guinea is around 3.5M GNF while house rental costs can be as high as 7M GNF per month. Finally, if you want to rent a villa, expect to pay anywhere from 3.5M GNF to 14M GNF per month.

Apartment and house prices in Guinea

Cost of buying a property

Studio apartment price

120M GNF

180M GNF

350M GNF

MINIMUM

AVERAGE

MAXIMUM

$14,000

$20,000

$41,000

1-bedroom apartment price

140M GNF

230M GNF

880M GNF

MINIMUM

AVERAGE

MAXIMUM

$16,000

$27,000

$100,000

2-bedroom apartment price

230M GNF

700M GNF

1,400M GNF

MINIMUM

AVERAGE

MAXIMUM

$27,000

$82,000

$160,000

3-bedroom apartment price

780M GNF

1,200M GNF

3,500M GNF

MINIMUM

AVERAGE

MAXIMUM

$91,000

$140,000

$410,000

Townhouse price

1,000M GNF

2,300M GNF

8,800M GNF

MINIMUM

AVERAGE

MAXIMUM

$120,000

$270,000

$1M

House price

1,200M GNF

7,000M GNF

10,000M GNF

MINIMUM

AVERAGE

MAXIMUM

$140,000

$820,000

$1.2M

Villa price

1,400M GNF

7,800M GNF

12,000M GNF

MINIMUM

AVERAGE

MAXIMUM

$160,000

$910,000

$1.4M

The average price of a studio apartment in Guinea can range from 120M GNF to 350M GNF depending on location. One bedroom cost can be anywhere from 140M GNF to 880M GNF. A villa can cost you 7,800M GNF on average with prices ranging from 1,400M GNF to 12,000M GNF.

House / apartment prices to income ratio

Property prices in Guinea can be x105 to x203 multiples of the monthly income depending on the property and the income of the person. On average, property prices are approximately x105 multiples of the average monthly salary in Guinea.

Rent to income ratio

The average rent-to-income ratio in Guinea is around 30%. This means that people pay 30% of their income for rent. Those figures can range from 20% to 40% depending on the salary, location, and type of property.

Housing affordability index

The housing affordability index measures how affordable accommodation is in a particular place. This can measured in multiple ways, the most common being housing expenditure to total expenditure ratio and the rent to income ratio. The housing expenditure ratio is a figure reported by individuals on the percentage they allocate for housing. Rent to income ratio is calculated by dividing the average monthly rent by the average income. Because these values are both percentages, we can find their average and get the best of the two worlds.

Property Taxes

Real estate owners pay property taxes to local tax authorities, which are determined by the assessed value of their property. Typically, these taxes are paid once a year. Property tax funds contribute to community development, financing infrastructure improvements, public services, and local education initiatives.

Home Maintenance Costs

Home maintenance costs encompass various expenses associated with the upkeep and repair of a residence. These expenditures include regular tasks such as lawn care, pest control, and HVAC system servicing, as well as occasional repairs and renovations like fixing leaks, painting, or replacing appliances.

Urban vs. rural living costs

Urban living typically entails higher housing and transportation costs due to demand and limited space, while rural areas generally offer lower housing expenses but may have higher prices for goods and services. The differnce in rental rates between urban areas and rural areas can be as high as 300% in some cases.

Monthly costs and expenses of energy and basic utilities in Guinea

Energy, electricity, water, gas, internet, and mobile cost in Guinea

Utility Bill Cost / Electricity + Water + Gas / Couple

110,000 GNF

360,000 GNF

2.3M GNF

MINIMUM

AVERAGE

MAXIMUM

$12

$42

$270

Internet and cable cost

35,000 GNF

70,000 GNF

94,000 GNF

MINIMUM

AVERAGE

MAXIMUM

$4.1

$8.2

$11

Mobile phone bill and charges

28,000 GNF

47,000 GNF

140,000 GNF

MINIMUM

AVERAGE

MAXIMUM

$3.3

$5.4

$16

The average monthly energy and water consumption of couples is around 360,000 GNF. The cost of internet and WiFi ranges from 35,000 GNF to 94,000 GNF with 70,000 GNF being the average internet bill. Finally, the average monthly mobile charges is around 47,000 GNF but can range between 28,000 GNF and 140,000 GNF depending on consumption. Mobile charges include both calling minutes as well as data packages.

Energy / Utility expense to income ratio

The average utility-to-income ratio in Guinea is around 6%. This means that people pay 6% of their income for energy, water, internet, and mobile charges. Those figures can range from 3% to 10% depending on salary and location.

Food Prices, Dining Expenses, and Grocery Costs in Guinea

Prices and cost of goods and services in Guinea

Dining out, food, and beverages costs. Price variations for common food items.

Fast food combo meal price

7,000 GNF

14,000 GNF

23,000 GNF

MINIMUM

AVERAGE

MAXIMUM

$0.82

$1.6

$2.7

The average price of a regular combo meal at a fast food outlet or chain like McDonald's, Pizzahut, or KFC in Guinea is approximatly 14,000 GNF with meal cost ranging from 7,000 GNF to 23,000 GNF. The typical combo meal consists of a burger, french fries, and a drink.

Restaurant meal for one price

23,000 GNF

35,000 GNF

70,000 GNF

MINIMUM

AVERAGE

MAXIMUM

$2.7

$4.1

$8.2

If you are planning to have a nice meal at a mid-range restaurant, expect to pay anywhere between 23,000 GNF and 70,000 GNF with 35,000 GNF being the average price of a plate for one person at a regular restaurant in Guinea.

Fine dining meal for one price

47,000 GNF

70,000 GNF

280,000 GNF

MINIMUM

AVERAGE

MAXIMUM

$5.4

$8.2

$33

The price range of a meal at fine-dining restaurant is 47,000 GNF to 280,000 GNF with the average cost being 70,000 GNF for one person. This is what you would expect to pay a top-tier diner in Guinea.

Beverage prices, cappuccino, latte etc..

5,900 GNF

9,400 GNF

14,000 GNF

MINIMUM

AVERAGE

MAXIMUM

$0.68

$1.1

$1.6

The average price of a regular beverage like cappuccino or latte at Starbucks, Costa, or similar coffee shops and cafes in Guinea is around 9,400 GNF. Price ranges between 5,900 GNF and 14,000 GNF depending on the type of beverage, the size, and optional add-ons.

Grocery and market costs

Large bottle of milk price

4,700 GNF

5,600 GNF

7,000 GNF

MINIMUM

AVERAGE

MAXIMUM

$0.54

$0.65

$0.82

The average price of a large bottle of milk in Guinea is 5,600 GNF. The maximum what you would pay for milk is 7,000 GNF and the minimum being 4,700 GNF depending on the brand of milk and other properties.

12 eggs price

3,500 GNF

4,700 GNF

7,000 GNF

MINIMUM

AVERAGE

MAXIMUM

$0.41

$0.54

$0.82

A dozen eggs costs around 4,700 GNF on average with 3,500 GNF and 7,000 GNF being the lower and upper limits respectively.

Fresh whole chicken price

8,000 GNF

10,000 GNF

15,000 GNF

MINIMUM

AVERAGE

MAXIMUM

$0.93

$1.2

$1.7

The price range of a fresh whole chicken in Guinea is between 8,000 GNF and 15,000 GNF depending on the size of the chicken and whether it is oraganic or not. The average price is approximatly 10,000 GNF.

Pack of beef price

9,400 GNF

14,000 GNF

28,000 GNF

MINIMUM

AVERAGE

MAXIMUM

$1.1

$1.6

$3.3

The price of a regular pack of beef or meat is around 14,000 GNF. A pack of beef contains around 1Kg or 1lb depending on packing.

Medium bag of rice price

3,800 GNF

5,200 GNF

7,300 GNF

MINIMUM

AVERAGE

MAXIMUM

$0.44

$0.60

$0.85

A bag of rice in Guinea costs around 5,200 GNF on average with prices rangeing between 3,800 GNF and 7,300 GNF depending on the brand and quality.

Bag of tomatos price

1,400 GNF

1,900 GNF

3,500 GNF

MINIMUM

AVERAGE

MAXIMUM

$0.16

$0.22

$0.41

A bag of tomatoes costs anywhere from 1,400 GNF to 3,500 GNF. A bag of tomatoes denotes 1Kg or 1lb depending on location.

Bag of apples price

2,500 GNF

3,300 GNF

5,400 GNF

MINIMUM

AVERAGE

MAXIMUM

$0.29

$0.38

$0.63

A bag of apples costs 3,300 GNF on average. A bag of apples denotes 1Kg or 1lb depending on location.

Grocery and food expenditure to income ratio

The average grocery-to-income ratio in Guinea is around 26%. This means that couples spend 26% of their income on grocery and basic household items. The expenditure can range from 18% to 32% depending on salary and location.

Expenditure on food and grocery for couples