Cost Of Living For a Student in Madagascar 2025

Student cost of living chart - average monthly expenditure in Madagascar

Average Monthly Expenditure

Currency: MGA
100,000 680,000 4.6M
MINIMUM AVERAGE MAXIMUM
$23 $150 $1,000

Average monthly spending for students in Madagascar

How much money does a student need in a month to survive in Madagascar?

Students in Madagascar spend around 680,000 MGA per month on average. Depending on the lifestyle, a student can survive with a monthly budget as low as 100,000 MGA or as high as 4.6M MGA. Location is a very important factor and has a huge influence on expenditure and budget.

Prices and cost of goods and services in Madagascar

Chart showing the prices and cost of grocery, food, restaurant meals, market, and beverages in Madagascar

Dining, food, and beverages costs


Fast food combo meal

1,300 MGA 2,600 MGA 4,400 MGA
MINIMUM AVERAGE MAXIMUM
$0.29 $0.59 $0.98

Restaurant meal for one

4,400 MGA 6,600 MGA 13,000 MGA
MINIMUM AVERAGE MAXIMUM
$0.98 $1.5 $2.9

Fine dining meal for one

8,800 MGA 13,000 MGA 53,000 MGA
MINIMUM AVERAGE MAXIMUM
$2 $2.9 $12

Cappuccino or latte

1,100 MGA 1,800 MGA 2,600 MGA
MINIMUM AVERAGE MAXIMUM
$0.24 $0.39 $0.59

Grocery and market costs


Milk large bottle

880 MGA 1,100 MGA 1,300 MGA
MINIMUM AVERAGE MAXIMUM
$0.20 $0.23 $0.29

12 eggs

660 MGA 880 MGA 1,300 MGA
MINIMUM AVERAGE MAXIMUM
$0.15 $0.20 $0.29

Fresh whole chicken

1,500 MGA 1,900 MGA 2,700 MGA
MINIMUM AVERAGE MAXIMUM
$0.33 $0.43 $0.61

Pack of beef

1,800 MGA 2,600 MGA 5,300 MGA
MINIMUM AVERAGE MAXIMUM
$0.39 $0.59 $1.2

Medium bag of rice

710 MGA 970 MGA 1,400 MGA
MINIMUM AVERAGE MAXIMUM
$0.16 $0.22 $0.31

Bag of tomatos

260 MGA 350 MGA 660 MGA
MINIMUM AVERAGE MAXIMUM
$0.06 $0.08 $0.15

Bag of apples

470 MGA 620 MGA 1,000 MGA
MINIMUM AVERAGE MAXIMUM
$0.10 $0.14 $0.23
Chart showing the prices and cost of commute, travel, and transportation in Madagascar

Commute, travel, and transportation costs


20 minutes taxi ride

1,100 MGA 1,300 MGA 2,600 MGA
MINIMUM AVERAGE MAXIMUM
$0.24 $0.29 $0.59

Average car full tank

6,600 MGA 8,800 MGA 18,000 MGA
MINIMUM AVERAGE MAXIMUM
$1.5 $2 $3.9

Average car 1-day rental

6,600 MGA 8,800 MGA 13,000 MGA
MINIMUM AVERAGE MAXIMUM
$1.5 $2 $2.9

Average car price

3.3M MGA 6.6M MGA 8.8M MGA
MINIMUM AVERAGE MAXIMUM
$730 $1,500 $2,000

Bus ticket one way

220 MGA 330 MGA 660 MGA
MINIMUM AVERAGE MAXIMUM
$0.05 $0.07 $0.15

Car Service

8,800 MGA 13,000 MGA 26,000 MGA
MINIMUM AVERAGE MAXIMUM
$2 $2.9 $5.9
Chart showing the prices and cost of utility, energy, water, and gas for a student in Madagascar

Utility cost (monthly)


Utility Bill - Student

4,100 MGA 27,000 MGA 180,000 MGA
MINIMUM AVERAGE MAXIMUM
$0.91 $6.1 $40

Internet and cable

6,600 MGA 13,000 MGA 18,000 MGA
MINIMUM AVERAGE MAXIMUM
$1.5 $2.9 $3.9

Mobile phone charges

5,300 MGA 8,800 MGA 26,000 MGA
MINIMUM AVERAGE MAXIMUM
$1.2 $2 $5.9

Leisure and activities costs


Movie ticket

3,300 MGA 4,400 MGA 6,600 MGA
MINIMUM AVERAGE MAXIMUM
$0.73 $0.98 $1.5

One month gym membership

11,000 MGA 13,000 MGA 26,000 MGA
MINIMUM AVERAGE MAXIMUM
$2.3 $2.9 $5.9
Chart showing the prices and cost of clothing and accessories in Madagascar

Cloths and accessories costs


Pair of jeans or pants

7,800 MGA 11,000 MGA 16,000 MGA
MINIMUM AVERAGE MAXIMUM
$1.7 $2.4 $3.7

Woman dress

7,300 MGA 10,000 MGA 33,000 MGA
MINIMUM AVERAGE MAXIMUM
$1.6 $2.3 $7.3

Woman shoes

6,900 MGA 9,400 MGA 22,000 MGA
MINIMUM AVERAGE MAXIMUM
$1.5 $2.1 $4.9

Men's shoes

6,000 MGA 7,300 MGA 15,000 MGA
MINIMUM AVERAGE MAXIMUM
$1.3 $1.6 $3.3

Men suit

6,600 MGA 8,200 MGA 44,000 MGA
MINIMUM AVERAGE MAXIMUM
$1.5 $1.8 $9.8

Regular t-shirt

3,300 MGA 4,400 MGA 13,000 MGA
MINIMUM AVERAGE MAXIMUM
$0.73 $0.98 $2.9
Chart showing the prices and cost of housing, accommodation, and rent in Madagascar

Housing costs / monthly rent


Studio apartment

110,000 MGA 160,000 MGA 440,000 MGA
MINIMUM AVERAGE MAXIMUM
$24 $37 $98

1-bedroom apartment

160,000 MGA 260,000 MGA 660,000 MGA
MINIMUM AVERAGE MAXIMUM
$37 $59 $150

2-bedroom apartment

220,000 MGA 330,000 MGA 880,000 MGA
MINIMUM AVERAGE MAXIMUM
$49 $73 $200

Housing costs / Buying


Studio apartment

22M MGA 33M MGA 66M MGA
MINIMUM AVERAGE MAXIMUM
$4,900 $7,300 $15,000

1-bedroom apartment

26M MGA 44M MGA 160M MGA
MINIMUM AVERAGE MAXIMUM
$5,900 $9,800 $37,000

2-bedroom apartment

44M MGA 130M MGA 260M MGA
MINIMUM AVERAGE MAXIMUM
$9,800 $29,000 $59,000
Chart showing the prices and cost of furniture in Madagascar

Furniture Costs


King Size Bed

130,000 MGA 160,000 MGA 220,000 MGA
MINIMUM AVERAGE MAXIMUM
$29 $37 $49

Double Bed

88,000 MGA 130,000 MGA 160,000 MGA
MINIMUM AVERAGE MAXIMUM
$20 $29 $37

Single Bed

78,000 MGA 100,000 MGA 130,000 MGA
MINIMUM AVERAGE MAXIMUM
$17 $23 $29

Living Room

150,000 MGA 190,000 MGA 660,000 MGA
MINIMUM AVERAGE MAXIMUM
$33 $42 $150

Dining Table

66,000 MGA 88,000 MGA 160,000 MGA
MINIMUM AVERAGE MAXIMUM
$15 $20 $37

Sofa or Couch

88,000 MGA 120,000 MGA 260,000 MGA
MINIMUM AVERAGE MAXIMUM
$20 $27 $59
Chart showing the prices and cost of electronic devices and appliances in Madagascar

Electronics and House Appliance Costs


TV Set

88,000 MGA 130,000 MGA 260,000 MGA
MINIMUM AVERAGE MAXIMUM
$20 $29 $59

Fridge or Freezer

78,000 MGA 120,000 MGA 160,000 MGA
MINIMUM AVERAGE MAXIMUM
$17 $27 $37

Washing Machine

100,000 MGA 150,000 MGA 260,000 MGA
MINIMUM AVERAGE MAXIMUM
$23 $33 $59

Stove or Cooker

94,000 MGA 120,000 MGA 160,000 MGA
MINIMUM AVERAGE MAXIMUM
$21 $27 $37

Mobile Phone

110,000 MGA 130,000 MGA 190,000 MGA
MINIMUM AVERAGE MAXIMUM
$24 $29 $42

Laptop or Computer

120,000 MGA 150,000 MGA 260,000 MGA
MINIMUM AVERAGE MAXIMUM
$27 $33 $59
Distribution of monthly cost of living expenses of a student in Madagascar

How do students spend their money in Madagascar?

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

Housing and accomodation expenditure for students

Accomodation Cost17%

17% of total expenses on average (12% to 23%)

LOW$5.4   25,000 MGA
AVERAGE$36   160,000 MGA
HIGH$240   1.1M MGA
Per Month

Students in Madagascar typically spend from 12% to 23% of their total monthly expenditure on housing with 17% being the average. The average monthly spend on housing is 160,000 MGA with expenditure ranging from 25,000 MGA to 1.1M MGA. This cost mainly goes for rent but it also includes other accommodation-related expenses.

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

Cost of utilities7%

7% of total expenses on average (5% to 11%)

LOW$0.91   4,100 MGA
AVERAGE$6.1   27,000 MGA
HIGH$40   180,000 MGA
Per Month

Utility expenditure like electricity, water, and gas in Madagascar ranges from 5% to 11% of total expenses with 7% being the average for most students. The average monthly cost of utilities is 27,000 MGA with 4,100 MGA and 180,000 MGA being the upper and lower limits for a student of four.

Transport, fuel, and commute expenditure for students

Cost of transport and fuel4%

4% of total expenses on average (4% to 10%)

LOW$1.6   7,200 MGA
AVERAGE$11   48,000 MGA
HIGH$71   320,000 MGA
Per Month

Fuel consumption and cost of transport depend heavily on whether a student resides near school and work, but roughly speaking a student would expect to spend from 7,200 MGA to 320,000 MGA in a month on commuting with 48,000 MGA being the norm for most students. This means that money spent on transport constitutes about 4% of total spending on average but can go as low as 4% or as high as 10%.

Food, groceries, and basic shopping expenditure for students

Food and Groceries Cost23%

23% of total expenses on average (17% to 27%)

LOW$4.5   20,000 MGA
AVERAGE$30   140,000 MGA
HIGH$200   910,000 MGA
Per Month

The average outlay on groceries and basic houshold items for a typical student in a month in Madagascar is 140,000 MGA. The cost of groceries can range between 20,000 MGA to 910,000 MGA. Students spend on average about 23% on food and groceries with upper and lower bounds of 17% and 27% respectively.

Healthcare and medical services expenditure for students

Cost of healthcare9%

9% of total expenses on average (6% to 12%)

LOW$1.4   6,100 MGA
AVERAGE$9.1   41,000 MGA
HIGH$61   270,000 MGA
Per Month

Students in Madagascar allocate 6% to 12% 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 9%. The range of medical expenses range from 6,100 MGA to 270,000 MGA with 41,000 MGA being the norm for most students.

Leisure and shopping expenditure for students

Cost of leisure and shopping2%

2% of total expenses on average (2% to 6%)

LOW$1.1   5,100 MGA
AVERAGE$7.6   34,000 MGA
HIGH$51   230,000 MGA
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 5,100 MGA to 230,000 MGA with 34,000 MGA being the average. Speaking of percentages, that equates to 2% to 6% of total expenses with an average of 2% for most students.

Education and schooling expenditure for students

Cost of education and schooling18%

18% of total expenses on average (11% to 23%)

LOW$4.3   19,000 MGA
AVERAGE$29   130,000 MGA
HIGH$190   870,000 MGA
Per Month

Spending on education can vary drastically between different students. On average, education constitutes 18% of the monthly expenditure of students with 11% and 23% being the lower and upper bounds respectively. The average reported education cost is 130,000 MGA per month with 19,000 MGA being the minimum spent amount and 870,000 MGA being the maximum.

Other Expenses19%

19% of total expenses on average (13% to 25%)

LOW$3.4   15,000 MGA
AVERAGE$23   100,000 MGA
HIGH$150   680,000 MGA
Per Month
A typical and healthy budgeting structure. The 50-30-20 rule

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.

How easily is cost-cutting for students. Are there plenty of low-cost options in Madagascar

Low-cost alternatives in Madagascar

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 students how easily cost-cutting is and the answers were distributed as follows:

Plenty of low-cost options51%

Few low-cost options49%


Based on the survey, 51% of the students living in Madagascar have no problem finding low-cost alternatives to support a frugal lifestyle while 49% think that thriftness is difficult due to scarcity in discount markets and secondhand outlets.

Income and cost of living compatibility. Is it affordable or economical for students to live in Madagascar

Affordable living in Madagascar

Income and cost of living compatibility

We asked students one simple question and recorded their answers.

Is it affordable or economical to live in Madagascar?


Yes
43%
No
57%

Around 43% of surveyed students think that living in Madagascar is affordable with proper budgeting while 57% reported that it is just too expensive and not affordable even with frugality and thriftness.

Housing and accommodation affordability, property price to income ratio, rent to income ratio, and housing affordability index chart in Madagascar

Housing costs, accommodation, and housing affordability in Madagascar

Rental costs and house/apartment prices can vary drastically between different areas and locations.


Rent Cost in Madagascar

Monthly Rent Prices

Studio apartment monthly rent cost

110,000 MGA 160,000 MGA 440,000 MGA
MINIMUM AVERAGE MAXIMUM
$24 $37 $98

1-bedroom apartment monthly rent cost

160,000 MGA 260,000 MGA 660,000 MGA
MINIMUM AVERAGE MAXIMUM
$37 $59 $150

2-bedroom apartment monthly rent cost

220,000 MGA 330,000 MGA 880,000 MGA
MINIMUM AVERAGE MAXIMUM
$49 $73 $200

3-bedroom apartment monthly rent cost

260,000 MGA 440,000 MGA 1.2M MGA
MINIMUM AVERAGE MAXIMUM
$59 $98 $270

Furnished apartment monthly rent cost

530,000 MGA 1.3M MGA 2.6M MGA
MINIMUM AVERAGE MAXIMUM
$120 $290 $590

Townhouse monthly rent cost

440,000 MGA 660,000 MGA 1.9M MGA
MINIMUM AVERAGE MAXIMUM
$98 $150 $420

House monthly rent cost

530,000 MGA 1.3M MGA 2.6M MGA
MINIMUM AVERAGE MAXIMUM
$120 $290 $590

Villa monthly rent cost

660,000 MGA 1.6M MGA 2.6M MGA
MINIMUM AVERAGE MAXIMUM
$150 $370 $590

The monthly rental cost of a studio apartment in Madagascar ranges between 110,000 MGA and 440,000 MGA, meanwhile the cost of monthly rental of a one-bedroom apartment can be anywhere from 160,000 MGA to 660,000 MGA. Two-bedroom rentals rate ranges between 220,000 MGA and 880,000 MGA per month. The monthly rental for a three-bedroom apartment ranges from 260,000 MGA to 1.2M MGA. The average rent of a townhouse in Madagascar is around 660,000 MGA while house rental costs can be as high as 1.3M MGA per month. Finally, if you want to rent a villa, expect to pay anywhere from 660,000 MGA to 2.6M MGA per month.



Apartment and house prices in Madagascar

Cost of buying a property

Studio apartment price

22M MGA 33M MGA 66M MGA
MINIMUM AVERAGE MAXIMUM
$4,900 $7,300 $15,000

1-bedroom apartment price

26M MGA 44M MGA 160M MGA
MINIMUM AVERAGE MAXIMUM
$5,900 $9,800 $37,000

2-bedroom apartment price

44M MGA 130M MGA 260M MGA
MINIMUM AVERAGE MAXIMUM
$9,800 $29,000 $59,000

3-bedroom apartment price

150M MGA 220M MGA 660M MGA
MINIMUM AVERAGE MAXIMUM
$33,000 $49,000 $150,000

Townhouse price

190M MGA 440M MGA 1,600M MGA
MINIMUM AVERAGE MAXIMUM
$42,000 $98,000 $370,000

House price

220M MGA 1,300M MGA 1,900M MGA
MINIMUM AVERAGE MAXIMUM
$49,000 $290,000 $420,000

Villa price

260M MGA 1,500M MGA 2,200M MGA
MINIMUM AVERAGE MAXIMUM
$59,000 $330,000 $490,000

The average price of a studio apartment in Madagascar can range from 22M MGA to 66M MGA depending on location. One bedroom cost can be anywhere from 26M MGA to 160M MGA. A villa can cost you 1,500M MGA on average with prices ranging from 260M MGA to 2,200M MGA.


If you're leasing or purchasing, housing costs in Madagascar 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


30 x82 monthly income 189
MINIMUM AVERAGE MAXIMUM

Property prices in Madagascar can be x82 to x189 multiples of the monthly income depending on the property and the income of the person. On average, property prices are approximately x82 multiples of the average monthly salary in Madagascar.



Rent to income ratio


Rent to income ratio

( monthly rental / monthly income ) x 100


18% 28% of income 38%
MINIMUM AVERAGE MAXIMUM

The average rent-to-income ratio in Madagascar is around 28%. This means that people pay 28% of their income for rent. Those figures can range from 18% to 38% 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
26%

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.


FROM
1.8%
AVERAGE
2.8%
TO
3.8%

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.


2,000 MGA 27,000 MGA 270,000 MGA
MINIMUM AVERAGE MAXIMUM

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.

Food Prices, Dining Expenses, and Grocery Costs in Madagascar

Grocery / Food expenditure and prices can vary drastically between different areas and locations.


Prices and cost of goods and services in Madagascar

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

Fast food combo meal price

1,300 MGA 2,600 MGA 4,400 MGA
MINIMUM AVERAGE MAXIMUM
$0.29 $0.59 $0.98

The average price of a regular combo meal at a fast food outlet or chain like McDonald's, Pizzahut, or KFC in Madagascar is approximatly 2,600 MGA with meal cost ranging from 1,300 MGA to 4,400 MGA. The typical combo meal consists of a burger, french fries, and a drink.

Restaurant meal for one price

4,400 MGA 6,600 MGA 13,000 MGA
MINIMUM AVERAGE MAXIMUM
$0.98 $1.5 $2.9

If you are planning to have a nice meal at a mid-range restaurant, expect to pay anywhere between 4,400 MGA and 13,000 MGA with 6,600 MGA being the average price of a plate for one person at a regular restaurant in Madagascar.

Fine dining meal for one price

8,800 MGA 13,000 MGA 53,000 MGA
MINIMUM AVERAGE MAXIMUM
$2 $2.9 $12

The price range of a meal at fine-dining restaurant is 8,800 MGA to 53,000 MGA with the average cost being 13,000 MGA for one person. This is what you would expect to pay a top-tier diner in Madagascar.

Beverage prices, cappuccino, latte etc..

1,100 MGA 1,800 MGA 2,600 MGA
MINIMUM AVERAGE MAXIMUM
$0.24 $0.39 $0.59

The average price of a regular beverage like cappuccino or latte at Starbucks, Costa, or similar coffee shops and cafes in Madagascar is around 1,800 MGA. Price ranges between 1,100 MGA and 2,600 MGA depending on the type of beverage, the size, and optional add-ons.



Grocery and market costs

Large bottle of milk price

880 MGA 1,100 MGA 1,300 MGA
MINIMUM AVERAGE MAXIMUM
$0.20 $0.23 $0.29

The average price of a large bottle of milk in Madagascar is 1,100 MGA. The maximum what you would pay for milk is 1,300 MGA and the minimum being 880 MGA depending on the brand of milk and other properties.

12 eggs price

660 MGA 880 MGA 1,300 MGA
MINIMUM AVERAGE MAXIMUM
$0.15 $0.20 $0.29

A dozen eggs costs around 880 MGA on average with 660 MGA and 1,300 MGA being the lower and upper limits respectively.

Fresh whole chicken price

1,500 MGA 1,900 MGA 2,700 MGA
MINIMUM AVERAGE MAXIMUM
$0.33 $0.43 $0.61

The price range of a fresh whole chicken in Madagascar is between 1,500 MGA and 2,700 MGA depending on the size of the chicken and whether it is oraganic or not. The average price is approximatly 1,900 MGA.

Pack of beef price

1,800 MGA 2,600 MGA 5,300 MGA
MINIMUM AVERAGE MAXIMUM
$0.39 $0.59 $1.2

The price of a regular pack of beef or meat is around 2,600 MGA. A pack of beef contains around 1Kg or 1lb depending on packing.

Medium bag of rice price

710 MGA 970 MGA 1,400 MGA
MINIMUM AVERAGE MAXIMUM
$0.16 $0.22 $0.31

A bag of rice in Madagascar costs around 970 MGA on average with prices rangeing between 710 MGA and 1,400 MGA depending on the brand and quality.

Bag of tomatos price

260 MGA 350 MGA 660 MGA
MINIMUM AVERAGE MAXIMUM
$0.06 $0.08 $0.15

A bag of tomatoes costs anywhere from 260 MGA to 660 MGA. A bag of tomatoes denotes 1Kg or 1lb depending on location.

Bag of apples price

470 MGA 620 MGA 1,000 MGA
MINIMUM AVERAGE MAXIMUM
$0.10 $0.14 $0.23

A bag of apples costs 620 MGA on average. A bag of apples denotes 1Kg or 1lb depending on location.


Expenditure on food and grocery for students

Students' spending on grocery ranges from 20,000 MGA to 910,000 MGA with the location, income, and size of the student being the most determinite factors.

Emergency Funds For Students

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 students whether they have an emergency fund and the answers were as follows.

Yes39%

No61%


Based on the survey, 61% of the students living in Madagascar said that they don't have an emergency fund while 39% said that they do.

Financial literacy and difficulty in budgeting and financial planning for students in Madagascar

Financial Literacy in

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 Leteracy38%


We asked student guardians and parents in Madagascar whether they acquired any adequate personal financial training in their lives. Approximately 62% 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 38% 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 students of have problems or difficulties in managing their expenditures and savings so we asked people one simple question: do you struggle with your personal finances? 64% of the participants reported that they indeed struggle in creating budgets and in organizing their finances while 36% said that they have everything under control.

Struggles with finance64%

Easily manages finances36%

Monthly costs and expenses of energy and basic utilities in Madagascar

Utilities expenditure can vary slightly between different areas and locations.


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

Utility Bill Cost / Electricity + Water + Gas / Student

4,100 MGA 27,000 MGA 180,000 MGA
MINIMUM AVERAGE MAXIMUM
$0.91 $6.1 $40

Internet and cable cost

6,600 MGA 13,000 MGA 18,000 MGA
MINIMUM AVERAGE MAXIMUM
$1.5 $2.9 $3.9

Mobile phone bill and charges

5,300 MGA 8,800 MGA 26,000 MGA
MINIMUM AVERAGE MAXIMUM
$1.2 $2 $5.9

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 students is around 27,000 MGA. The cost of internet and WiFi ranges from 6,600 MGA to 18,000 MGA with 13,000 MGA being the average internet bill. Finally, the average monthly mobile charges is around 8,800 MGA but can range between 5,300 MGA and 26,000 MGA 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


4% 7% of income 11%
MINIMUM AVERAGE MAXIMUM

The average utility-to-income ratio in Madagascar is around 7%. This means that people pay 7% of their income for energy, water, internet, and mobile charges. Those figures can range from 4% to 11% depending on salary and location.

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