Cost Of Living For a Single Person in Bello 2024
Average Monthly Expenditure
Currency: COP
Average monthly spending for a single person or individual in Bello
How much money does an individual need in a month to survive in Bello?
A single person in Bello spends around 5.7M COP per month on average. Depending on the lifestyle, a single individual can survive with a monthly budget as low as 800,000 COP or as high as 38M COP. Location and income are very important factors and have a huge influence on expenditure and budget.
Prices and cost of goods and services in Bello
Dining, food, and beverages costs
Fast food combo meal
| 8,600 COP | 17,000 COP | 29,000 COP |
Restaurant meal for one
| 29,000 COP | 43,000 COP | 86,000 COP |
Fine dining meal for one
| 57,000 COP | 86,000 COP | 340,000 COP |
Cappuccino or latte
| 7,200 COP | 11,000 COP | 17,000 COP |
Grocery and market costs
Milk large bottle
| 5,700 COP | 6,900 COP | 8,600 COP |
12 eggs
| 4,300 COP | 5,700 COP | 8,600 COP |
Fresh whole chicken
| 9,800 COP | 13,000 COP | 18,000 COP |
Pack of beef
| 11,000 COP | 17,000 COP | 34,000 COP |
Medium bag of rice
| 4,600 COP | 6,300 COP | 9,000 COP |
Bag of tomatos
| 1,700 COP | 2,300 COP | 4,300 COP |
Bag of apples
| 3,100 COP | 4,000 COP | 6,600 COP |
Commute, travel, and transportation costs
20 minutes taxi ride
| 7,100 COP | 8,600 COP | 17,000 COP |
Average car full tank
| 43,000 COP | 57,000 COP | 110,000 COP |
Average car 1-day rental
| 43,000 COP | 57,000 COP | 85,000 COP |
Average car price
Bus ticket one way
| 1,400 COP | 2,100 COP | 4,300 COP |
Car Service
| 57,000 COP | 85,000 COP | 170,000 COP |
Utility cost (monthly)
Utility Bill - Individual
| 48,000 COP | 340,000 COP | 2.3M COP |
Internet and cable
| 43,000 COP | 86,000 COP | 110,000 COP |
Mobile phone charges
| 34,000 COP | 57,000 COP | 170,000 COP |
Leisure and activities costs
Movie ticket
| 21,000 COP | 29,000 COP | 43,000 COP |
One month gym membership
| 68,000 COP | 85,000 COP | 170,000 COP |
Cloths and accessories costs
Pair of jeans or pants
| 50,000 COP | 71,000 COP | 110,000 COP |
Woman dress
| 47,000 COP | 65,000 COP | 210,000 COP |
Woman shoes
| 45,000 COP | 61,000 COP | 140,000 COP |
Men's shoes
| 39,000 COP | 47,000 COP | 95,000 COP |
Men suit
| 43,000 COP | 53,000 COP | 280,000 COP |
Regular t-shirt
| 21,000 COP | 28,000 COP | 85,000 COP |
Housing costs / monthly rent
Studio apartment
| 710,000 COP | 1.1M COP | 2.8M COP |
1-bedroom apartment
| 1.1M COP | 1.7M COP | 4.3M COP |
2-bedroom apartment
| 1.4M COP | 2.1M COP | 5.7M COP |
Housing costs / Buying
Studio apartment
| 140M COP | 210M COP | 430M COP |
1-bedroom apartment
| 170M COP | 280M COP | 1,100M COP |
2-bedroom apartment
| 280M COP | 850M COP | 1,700M COP |
| $72,000 | $220,000 | $430,000 |
Furniture Costs
King Size Bed
| 860,000 COP | 1.1M COP | 1.4M COP |
Double Bed
| 570,000 COP | 860,000 COP | 1.1M COP |
Single Bed
| 510,000 COP | 660,000 COP | 860,000 COP |
Living Room
| 960,000 COP | 1.2M COP | 4.3M COP |
Dining Table
| 430,000 COP | 570,000 COP | 1.1M COP |
Sofa or Couch
| 570,000 COP | 780,000 COP | 1.7M COP |
Electronics and House Appliance Costs
TV Set
| 570,000 COP | 860,000 COP | 1.7M COP |
Fridge or Freezer
| 510,000 COP | 780,000 COP | 1.1M COP |
Washing Machine
| 660,000 COP | 960,000 COP | 1.7M COP |
Stove or Cooker
| 610,000 COP | 780,000 COP | 1.1M COP |
Mobile Phone
| 720,000 COP | 860,000 COP | 1.2M COP |
Laptop or Computer
| 780,000 COP | 960,000 COP | 1.7M COP |
Single person expenditure to income ratio in Bello
Analysing the how affordable it is for an individual to live in Bello
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. Individuals usually spend a larger chunk of their income than other population groups. A typical and healthy expenditure percentage for a single individual ranges between 70% to 80%.
Spending to Income Ratio
73%
67% to 81%
( expenditure / income ) x 100
Individuals in Bello spend around 73% of their monthly income.
Some individuals spend as low as 67% of their income while some as high as 81%.
How do individuals spend their money in Bello?
We asked thousands of individuals about their spending habits and expenditure break down.
The percentage figures in this section are percentages of total spending not income. If you would like to see the percentage of expenses as related to income or salary, see other sections.
Housing and accomodation expenditure for individuals
Accomodation Cost29%
29% of total expenses on average (17% to 41%)
| LOW | $73 290,000 COP |
| AVERAGE | $520 2M COP |
| HIGH | $3,500 14M COP |
| Per Month |
Individuals in Bello typically spend from 17% to 41% of their total monthly expenditure on housing with 29% being the average. The average monthly spend on housing is 2M COP with expenditure ranging from 290,000 COP to 14M COP. This cost mainly goes for rent but it also includes other accommodation-related expenses.
Electricity, utilities, energy, water, internet, and mobile expenditure for individuals
Cost of utilities9%
9% of total expenses on average (5% to 14%)
| LOW | $12 48,000 COP |
| AVERAGE | $87 340,000 COP |
| HIGH | $580 2.3M COP |
| Per Month |
Utility expenditure like electricity, water, and gas in Bello ranges from 5% to 14% of total expenses with 9% being the average for most individuals. The average monthly cost of utilities is 340,000 COP with 48,000 COP and 2.3M COP being the upper and lower limits for a single person.
Transport, fuel, and commute expenditure for individuals
Cost of transport and fuel5%
5% of total expenses on average (3% to 11%)
| LOW | $16 64,000 COP |
| AVERAGE | $120 460,000 COP |
| HIGH | $770 3M COP |
| Per Month |
Fuel consumption and cost of transport depend heavily on whether a single person resides near school and work, but roughly speaking a single person would expect to spend from 64,000 COP to 3M COP in a month on commuting with 460,000 COP being the norm for most individuals. This means that money spent on transport constitutes about 5% of total spending on average but can go as low as 3% or as high as 11%.
Food, groceries, and basic shopping expenditure for individuals
Food and Groceries Cost19%
19% of total expenses on average (13% to 24%)
| LOW | $33 130,000 COP |
| AVERAGE | $230 910,000 COP |
| HIGH | $1,500 6.1M COP |
| Per Month |
The average outlay on groceries and basic houshold items for a typical person in a month in Bello is 910,000 COP. The cost of groceries can range between 130,000 COP to 6.1M COP. Individuals spend on average about 19% on food and groceries with upper and lower bounds of 13% and 24% respectively.
Healthcare and medical services expenditure for individuals
Cost of healthcare12%
12% of total expenses on average (6% to 16%)
| LOW | $18 72,000 COP |
| AVERAGE | $130 510,000 COP |
| HIGH | $870 3.4M COP |
| Per Month |
Individuals in Bello allocate 6% to 16% 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 12%. The range of medical expenses range from 72,000 COP to 3.4M COP with 510,000 COP being the norm for most individuals.
Leisure and shopping expenditure for individuals
Cost of leisure and shopping2%
2% of total expenses on average (2% to 5%)
| LOW | $10 40,000 COP |
| AVERAGE | $72 280,000 COP |
| HIGH | $480 1.9M COP |
| Per Month |
This category mostly contains discretionary or non-essential expenses but also some non-discretionary spending like furniture for example. The monthly expenses range from 40,000 COP to 1.9M COP with 280,000 COP being the average. Speaking of percentages, that equates to 2% to 5% of total expenses with an average of 2% for most individuals.
Education and schooling expenditure for individuals
Cost of education and schooling1%
1% of total expenses on average (0.00% to 3%)
| LOW | $4.1 16,000 COP |
| AVERAGE | $29 110,000 COP |
| HIGH | $190 760,000 COP |
| Per Month |
Spending on education can vary drastically between different individuals. On average, education constitutes 1% of the monthly expenditure of individuals with 0.00% and 3% being the lower and upper bounds respectively. The average reported education cost is 110,000 COP per month with 16,000 COP being the minimum spent amount and 760,000 COP being the maximum.
Other Expenses22%
22% of total expenses on average (14% to 26%)
| LOW | $37 140,000 COP |
| AVERAGE | $260 1M COP |
| HIGH | $1,700 6.8M COP |
| Per Month |
What percentage of individuals in Bello are able to save money and how much can they save?
Percentage of individuals that reported their ability to save money
Almost 60% of surveyed individuals in Bello said that they can save some money at the end of each month while 40% reported that they have to utilize their whole income to survive.
Savings-to-Income Ratio
The savings-to-income ratio is measured as the percentage of income that people save over a specific period and it is simply calculated by dividing the saved money by total income and then multiplying the result by 100. (Savings / Income) x 100.
How much money do individuals manage to add to their savings?
The amount of money that people can afford to save depends hugely on their income. It is better to focus on the percentage when trying to understand saving patterns.
Saving to Income Ratio
Average Monthly Saved Amount
220,000 COP
$55 | 2M COP
$500 | 13M COP
$3,300 |
Savings to income distribution levels for individuals
| Saving To Income Ratio | % Individuals |
|---|
| 0% - 10% | 32% |
| 10% - 20% | 25% |
| 20% - 30% | 16% |
| 30% - 40% | 13% |
| 40% - 50% | 10% |
| > 50% | 4% |
Interpretation and Analysis
Individuals that are able to save money can put anywhere from 10% to 28% of their monthly income to their savings, with 17% being the average for most individuals. The average monthly amount of money that individuals can put aside is 2M COP with 220,000 COP and 13M COP being the minimum and maximum respectively.
Saving Challenges in Bello
Reasons that make it difficult for individuals to save money
We wanted to understand what is stopping people from maximizing their savings in Bello. Listed below are the answers given by the survey participants.
| Reason | % People |
|---|
| Low Income | 5% |
| High Expenses | 8% |
| Debt and Loans | 13% |
| Lack of Budgeting Skills | 12% |
| Impulsive Spending | 12% |
| Financial Emergencies | 7% |
| Living the moment | 5% |
| Will do it later | 21% |
| Inflation | 13% |
| Social Pressure | 3% |
| Market Instability | 2% |
Around 5% of the individuals said that their salary is too low to accommodate a portion for savings while 8% said that the high cost of living leaves little room for savings. 13% of the residents said that they are burdened with debt and find it challenging to save money. 12% 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. 12% of individuals blamed impulsive spending as the reason for saving inability. Around 7% said that unexpected expenses like medical bills or car repairs are derailing their savings goals. 5% bluntly said that they don't see the purpose of it and prefer to live each day to the fullest. 21% 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. 13% 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, 2% blamed market instability and price fluctuations.
Typical saving choices for individuals in Bello
Where do people choose to put their savings?
| Saving Type | % People |
|---|
| Emergency Funds | 12% |
| Gold | 13% |
| Savings Accounts | 17% |
| Retirement Accounts | 10% |
| Cash Savings | 21% |
| Real Estate | 9% |
| Investment | 5% |
| Stocks | 4% |
| Bonds | 5% |
| Mutual Funds | 2% |
| Certificates of Deposit | 3% |
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
The 50/30/20 rule is used as a general guideline but may not be the best choice for all people. There are in fact many budgeting plans out there like the 70/20/10 and the 60/20/20 rules, all claiming to be the best. More important than all of this is to establish financial discipline by creating a budget tailored to your specific financial goals and situation. It is very important that your financial outflow be less than your income to maintain a healthy cash flow.
Affordable living in Bello
Income and cost of living compatibility
We asked individuals one simple question and recorded their answers.
Is it affordable or economical to live in Bello?
Around 60% of surveyed individuals think that living in Bello is affordable with proper budgeting while 41% reported that it is just too expensive and not affordable even with frugality and thriftness.
Low-cost alternatives in Bello
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 individuals how easily cost-cutting is and the answers were distributed as follows:
Plenty of low-cost options56%
Few low-cost options44%
Based on the survey, 56% of the individuals living in Bello have no problem finding low-cost alternatives to support a frugal lifestyle while 44% think that thriftness is difficult due to scarcity in discount markets and secondhand outlets.
Emergency Funds For Individuals
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 individuals of Bello whether they have an emergency fund and the answers were as follows.
Yes60%
No41%
Based on the survey, 41% of the individuals living in Bello said that they don't have an emergency fund while 60% said that they do.
Financial Literacy in Colombia
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 Leteracy58%
We asked individuals in Bello whether they acquired any adequate personal financial training in their lives. Approximately 42% 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 58% 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 single people of Colombia have problems or difficulties in managing their expenditures and savings so we asked people one simple question: do you struggle with your personal finances? 33% of the participants reported that they indeed struggle in creating budgets and in organizing their finances while 67% said that they have everything under control.
Struggles with finance33%
Easily manages finances67%
Financial goals of individuals in Bello
In an attempt to understand the economic situation in Bello, 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.
| Financial Goal | % People |
|---|
| Emergency Fund | 8% |
| Debt Reduction | 43% |
| Retirement Savings | 10% |
| Education Funding | 7% |
| Homeownership | 18% |
| Investing | 6% |
| Travel or Lifestyle | 7% |
| Healthcare Expenses | 14% |
| Financial Independence | 5% |
Around 8% of individuals said that their main goal is to establish an emergency fund to cover unexpected expenses while 43% said their number one priority is to pay off high-interest debt or loans and improve credit. 10% of surveyed people confirmed that saving for retirement to ensure a comfortable lifestyle in the final years is their main target. Around 7% reported that their priority is saving for the tuition fees and education costs of their children while 18% choose to buy a home or pay off existing mortgage before other things. 6% of the population would like to build wealth through investments such as stocks, bonds, mutual funds, or real estate. For 7% of people, saving for vacations or upgrading their lifestyle is the number one concern. Approximately 14% of the residents said that saving for healthcare expenses including insurance premiums is their main goal.
Debt, loans, and mortgages in Bello
Percentage of individuals who are in debt
According to the survey, 24% of the individuals in Bello have some kind of debt, loan, mortgage, or credit card payments while 76% reported that they don't have financial obligations to banks.
Debt-to-income ratio in Bello
Debt to income ratio
29%
22% to 38%
( monthly debt payment / monthly income ) x 100
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 29% of a single person's monthly income in Bello goes to debt settlement.
Debt levelsMonthly debt settlement payment as percentage of monthly income
| Debt-to-income ratio | % People |
|---|
| > 60% | 3% |
| 50% - 60% | 18% |
| 40% - 50% | 15% |
| 30% - 40% | 17% |
| 20% - 30% | 10% |
| 10% - 20% | 12% |
| 0% - 10% | 25% |
According to our data, 3% of the debtors in Bello pay 60%+ of their income as debt settlement while 18% of the people pay 50% to 60% of their income for the same, which is quite an alarming financial situation for those individuals. 15% of people in debt dedicate 40% to 50% of their income to loan and mortgage payments while 17% dedicated 30% to 40% of income for same. Things are looking brighter for 10% of individuals as they only pay 20% to 30% of their income for loan and credit card repayment.
Distribution by type of debt in Bello
| Debt | % People |
|---|
| Real Estate Mortgage | 8% |
| Auto Loan | 15% |
| Student Loan | 4% |
| Credit Card | 30% |
| Personal Loan | 43% |
8% of debtors in Bello confirm that real estate mortgages constitutes the main part of their outstanding debt while 30% say that credit card payments are the reason they are in debt. Auto loans were the main type of debt for 15% of people and personal loans rose at 43%. Lastly, student loans are the main source of debt for 4% of debtors in Bello.
About credit score and debt managementManaging debt is a critical aspect of maintaining a favorable credit score. Debt reduction is the first thing you should do improve your financial situation. Getting rid of debt takes precedence over saving money because of interest rates.
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 Bello
Besides measuring the loan-to-income ratio, we asked individuals of Bello 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.
| Frequency | % People |
|---|
| Never | 50% |
| Once a year | 24% |
| Twice a year | 13% |
| Three times a year | 9% |
| Four times a year | 4% |
Housing costs, accommodation, and housing affordability in Bello
Rental costs and house/apartment prices can vary drastically between different areas and locations.
Rent Cost in Bello
Monthly Rent Prices
Studio apartment monthly rent cost
| 710,000 COP | 1.1M COP | 2.8M COP |
1-bedroom apartment monthly rent cost
| 1.1M COP | 1.7M COP | 4.3M COP |
2-bedroom apartment monthly rent cost
| 1.4M COP | 2.1M COP | 5.7M COP |
3-bedroom apartment monthly rent cost
| 1.7M COP | 2.8M COP | 7.7M COP |
Furnished apartment monthly rent cost
| 3.4M COP | 8.5M COP | 17M COP |
Townhouse monthly rent cost
| 2.8M COP | 4.3M COP | 12M COP |
House monthly rent cost
| 3.4M COP | 8.5M COP | 17M COP |
Villa monthly rent cost
The monthly rental cost of a studio apartment in Bello ranges between 710,000 COP and 2.8M COP, meanwhile the cost of monthly rental of a one-bedroom apartment can be anywhere from 1.1M COP to 4.3M COP. Two-bedroom rentals rate ranges between 1.4M COP and 5.7M COP per month. The monthly rental for a three-bedroom apartment ranges from 1.7M COP to 7.7M COP. The average rent of a townhouse in Bello is around 4.3M COP while house rental costs can be as high as 8.5M COP per month. Finally, if you want to rent a villa, expect to pay anywhere from 4.3M COP to 17M COP per month.
Apartment and house prices in Bello
Cost of buying a property
Studio apartment price
| 140M COP | 210M COP | 430M COP |
1-bedroom apartment price
| 170M COP | 280M COP | 1,100M COP |
2-bedroom apartment price
| 280M COP | 850M COP | 1,700M COP |
| $72,000 | $220,000 | $430,000 |
3-bedroom apartment price
| 950M COP | 1,400M COP | 4,300M COP |
Townhouse price
| 1,200M COP | 2,800M COP | 11,000M COP |
House price
| 1,400M COP | 8,500M COP | 12,000M COP |
Villa price
| 1,700M COP | 9,500M COP | 14,000M COP |
The average price of a studio apartment in Bello can range from 140M COP to 430M COP depending on location. One bedroom cost can be anywhere from 170M COP to 1,100M COP. A villa can cost you 9,500M COP on average with prices ranging from 1,700M COP to 14,000M COP.
If you're leasing or purchasing, housing costs in Bello will probably constitute your biggest expenditure, yet it's an area where you wield considerable influence. This is due to the substantial variance in housing prices across communities. Keep in mind the location of your workplace and the accessibility of essential amenities to prevent negating the savings from lower rental rates with increased transportation expenses.
House / apartment prices to income ratio
Property price to income ratio
( average property price / average monthly income ) x 100
| 31 | x89 monthly income | 186 |
Property prices in Bello can be x89 to x186 multiples of the monthly income depending on the property and the income of the person. On average, property prices are approximately x89 multiples of the average monthly salary in Bello.
Rent to income ratio
Rent to income ratio
( monthly rental / monthly income ) x 100
The average rent-to-income ratio in Bello is around 27%. This means that people pay 27% of their income for rent. Those figures can range from 18% to 37% depending on the salary, location, and type of property.
The housing-to-income ratio is a very important metric to evaluate and measure how affordable living is in a particular area, city, or country since housing comprises the biggest chunk of expenditure. A higher housing to income ratio means that the place is relatively expensive. The figure by itself does tell much. It only starts to make sense when comparing the housing to income ratio across different locations.
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.
Housing Affordability Index
25% 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.
| 13,000 COP | 160,000 COP | 1.6M COP |
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 Bello
Utilities expenditure can vary slightly between different areas and locations.
Energy, electricity, water, gas, internet, and mobile cost in Bello
Utility Bill Cost / Electricity + Water + Gas / A single person
| 48,000 COP | 340,000 COP | 2.3M COP |
Internet and cable cost
| 43,000 COP | 86,000 COP | 110,000 COP |
Mobile phone bill and charges
| 34,000 COP | 57,000 COP | 170,000 COP |
Because most utility bills club electricity, water, and gas costs in one bill, we can't provide a breakup for each type of utility and will display electricity, gas, and water as single cost.
The average monthly energy and water consumption of individuals is around 340,000 COP. The cost of internet and WiFi ranges from 43,000 COP to 110,000 COP with 86,000 COP being the average internet bill. Finally, the average monthly mobile charges is around 57,000 COP but can range between 34,000 COP and 170,000 COP depending on consumption. Mobile charges include both calling minutes as well as data packages.
Energy / Utility expense to income ratio
( monthly utility expenses / monthly income ) x 100
The average utility-to-income ratio in Bello is around 5.7%. This means that people pay 5.7% of their income for energy, water, internet, and mobile charges. Those figures can range from 2.8% to 9.5% depending on salary and location.
Food Prices, Dining Expenses, and Grocery Costs in Bello
Grocery / Food expenditure and prices can vary drastically between different areas and locations.
Prices and cost of goods and services in Bello
Dining out, food, and beverages costs. Price variations for common food items.
Fast food combo meal price
| 8,600 COP | 17,000 COP | 29,000 COP |
The average price of a regular combo meal at a fast food outlet or chain like McDonald's, Pizzahut, or KFC in Bello is approximatly 17,000 COP with meal cost ranging from 8,600 COP to 29,000 COP. The typical combo meal consists of a burger, french fries, and a drink.
Restaurant meal for one price
| 29,000 COP | 43,000 COP | 86,000 COP |
If you are planning to have a nice meal at a mid-range restaurant, expect to pay anywhere between 29,000 COP and 86,000 COP with 43,000 COP being the average price of a plate for one person at a regular restaurant in Bello.
Fine dining meal for one price
| 57,000 COP | 86,000 COP | 340,000 COP |
The price range of a meal at fine-dining restaurant is 57,000 COP to 340,000 COP with the average cost being 86,000 COP for one person. This is what you would expect to pay a top-tier diner in Bello.
Beverage prices, cappuccino, latte etc..
| 7,200 COP | 11,000 COP | 17,000 COP |
The average price of a regular beverage like cappuccino or latte at Starbucks, Costa, or similar coffee shops and cafes in Bello is around 11,000 COP. Price ranges between 7,200 COP and 17,000 COP depending on the type of beverage, the size, and optional add-ons.
Grocery and market costs
Large bottle of milk price
| 5,700 COP | 6,900 COP | 8,600 COP |
The average price of a large bottle of milk in Bello is 6,900 COP. The maximum what you would pay for milk is 8,600 COP and the minimum being 5,700 COP depending on the brand of milk and other properties.
12 eggs price
| 4,300 COP | 5,700 COP | 8,600 COP |
A dozen eggs costs around 5,700 COP on average with 4,300 COP and 8,600 COP being the lower and upper limits respectively.
Fresh whole chicken price
| 9,800 COP | 13,000 COP | 18,000 COP |
The price range of a fresh whole chicken in Bello is between 9,800 COP and 18,000 COP depending on the size of the chicken and whether it is oraganic or not. The average price is approximatly 13,000 COP.
Pack of beef price
| 11,000 COP | 17,000 COP | 34,000 COP |
The price of a regular pack of beef or meat is around 17,000 COP. A pack of beef contains around 1Kg or 1lb depending on packing.
Medium bag of rice price
| 4,600 COP | 6,300 COP | 9,000 COP |
A bag of rice in Bello costs around 6,300 COP on average with prices rangeing between 4,600 COP and 9,000 COP depending on the brand and quality.
Bag of tomatos price
| 1,700 COP | 2,300 COP | 4,300 COP |
A bag of tomatoes costs anywhere from 1,700 COP to 4,300 COP. A bag of tomatoes denotes 1Kg or 1lb depending on location.
Bag of apples price
| 3,100 COP | 4,000 COP | 6,600 COP |
A bag of apples costs 4,000 COP on average. A bag of apples denotes 1Kg or 1lb depending on location.
Grocery and food expenditure to income ratio
( monthly grocery expenses / monthly income ) x 100
The average grocery-to-income ratio in Bello is around 26%. This means that individuals spend 26% of their income on grocery and basic household items. The expenditure can range from 18% to 31% depending on salary and location.
Expenditure on food and grocery for individuals
Individuals' spending on grocery ranges from 130,000 COP to 6.1M COP with the location, income being the most determinite factors.
