Cost Of Living For a Student in Potosi 2025

Average monthly spending for students in Potosi

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

Students in Potosi spend around 4,000 BOB per month on average. Depending on the lifestyle, a student can survive with a monthly budget as low as 610 BOB or as high as 27,000 BOB. Location is a very important factor and has a huge influence on expenditure and budget.

How do students spend their money in Potosi?

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

Housing and accomodation expenditure for students

Students in Potosi typically spend from 14% to 25% of their total monthly expenditure on housing with 19% being the average. The average monthly spend on housing is 970 BOB with expenditure ranging from 150 BOB to 6,400 BOB. This cost mainly goes for rent but it also includes other accommodation-related expenses.

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

Utility expenditure like electricity, water, and gas in Potosi ranges from 4% to 10% of total expenses with 6% being the average for most students. The average monthly cost of utilities is 160 BOB with 25 BOB and 1,100 BOB being the upper and lower limits for a student of four.

Transport, fuel, and commute expenditure for students

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 43 BOB to 1,900 BOB in a month on commuting with 280 BOB being the norm for most students. This means that money spent on transport constitutes about 5% of total spending on average but can go as low as 5% or as high as 11%.

Food, groceries, and basic shopping expenditure for students

The average outlay on groceries and basic houshold items for a typical student in a month in Potosi is 810 BOB. The cost of groceries can range between 120 BOB to 5,400 BOB. Students spend on average about 22% on food and groceries with upper and lower bounds of 16% and 26% respectively.

Healthcare and medical services expenditure for students

Students in Potosi allocate 5% to 11% 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 8%. The range of medical expenses range from 37 BOB to 1,600 BOB with 240 BOB being the norm for most students.

Leisure and shopping expenditure for students

This category mostly contains discretionary or non-essential expenses but also some non-discretionary spending like furniture for example. The monthly expenses range from 31 BOB to 1,300 BOB with 200 BOB being the average. Speaking of percentages, that equates to 2% to 7% of total expenses with an average of 3% for most students.

Education and schooling expenditure for students

Spending on education can vary drastically between different students. On average, education constitutes 19% of the monthly expenditure of students with 12% and 24% being the lower and upper bounds respectively. The average reported education cost is 770 BOB per month with 120 BOB being the minimum spent amount and 5,100 BOB being the maximum.

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 Potosi

Income and cost of living compatibility

We asked students one simple question and recorded their answers.

Is it affordable or economical to live in Potosi?

Around 58% of surveyed students think that living in Potosi is affordable with proper budgeting while 42% reported that it is just too expensive and not affordable even with frugality and thriftness.

Low-cost alternatives in Potosi

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 options54%

Few low-cost options46%

Based on the survey, 54% of the students living in Potosi 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 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.

Yes54%

No46%

Based on the survey, 46% of the students living in Potosi said that they don't have an emergency fund while 54% said that they do.

Monthly costs and expenses of energy and basic utilities in Potosi

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

Utility Bill Cost / Electricity + Water + Gas / Student

25 BOB

160 BOB

1,100 BOB

MINIMUM

AVERAGE

MAXIMUM

$3.6

$23

$160

Internet and cable cost

45 BOB

89 BOB

120 BOB

MINIMUM

AVERAGE

MAXIMUM

$6.5

$13

$17

Mobile phone bill and charges

36 BOB

60 BOB

180 BOB

MINIMUM

AVERAGE

MAXIMUM

$5.2

$8.6

$26

The average monthly energy and water consumption of students is around 160 BOB. The cost of internet and WiFi ranges from 45 BOB to 120 BOB with 89 BOB being the average internet bill. Finally, the average monthly mobile charges is around 60 BOB but can range between 36 BOB and 180 BOB 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 Potosi is around 5.8%. This means that people pay 5.8% of their income for energy, water, internet, and mobile charges. Those figures can range from 2.9% to 9.7% depending on salary and location.

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 Leteracy55%

We asked student guardians and parents in Potosi whether they acquired any adequate personal financial training in their lives. Approximately 45% 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 55% 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? 46% of the participants reported that they indeed struggle in creating budgets and in organizing their finances while 54% said that they have everything under control.

Struggles with finance46%

Easily manages finances54%

Housing costs, accommodation, and housing affordability in Potosi

Rent Cost in Potosi

Monthly Rent Prices

Studio apartment monthly rent cost

690 BOB

1,000 BOB

2,800 BOB

MINIMUM

AVERAGE

MAXIMUM

$100

$150

$400

1-bedroom apartment monthly rent cost

1,000 BOB

1,700 BOB

4,100 BOB

MINIMUM

AVERAGE

MAXIMUM

$150

$240

$600

2-bedroom apartment monthly rent cost

1,400 BOB

2,100 BOB

5,500 BOB

MINIMUM

AVERAGE

MAXIMUM

$200

$300

$800

3-bedroom apartment monthly rent cost

1,700 BOB

2,800 BOB

7,500 BOB

MINIMUM

AVERAGE

MAXIMUM

$240

$400

$1,100

Furnished apartment monthly rent cost

3,300 BOB

8,300 BOB

17,000 BOB

MINIMUM

AVERAGE

MAXIMUM

$480

$1,200

$2,400

Townhouse monthly rent cost

2,800 BOB

4,100 BOB

12,000 BOB

MINIMUM

AVERAGE

MAXIMUM

$400

$600

$1,700

House monthly rent cost

3,300 BOB

8,300 BOB

17,000 BOB

MINIMUM

AVERAGE

MAXIMUM

$480

$1,200

$2,400

Villa monthly rent cost

4,100 BOB

10,000 BOB

17,000 BOB

MINIMUM

AVERAGE

MAXIMUM

$600

$1,500

$2,400

The monthly rental cost of a studio apartment in Potosi ranges between 690 BOB and 2,800 BOB, meanwhile the cost of monthly rental of a one-bedroom apartment can be anywhere from 1,000 BOB to 4,100 BOB. Two-bedroom rentals rate ranges between 1,400 BOB and 5,500 BOB per month. The monthly rental for a three-bedroom apartment ranges from 1,700 BOB to 7,500 BOB. The average rent of a townhouse in Potosi is around 4,100 BOB while house rental costs can be as high as 8,300 BOB per month. Finally, if you want to rent a villa, expect to pay anywhere from 4,100 BOB to 17,000 BOB per month.

Apartment and house prices in Potosi

Cost of buying a property

Studio apartment price

140,000 BOB

210,000 BOB

410,000 BOB

MINIMUM

AVERAGE

MAXIMUM

$20,000

$30,000

$60,000

1-bedroom apartment price

170,000 BOB

280,000 BOB

1M BOB

MINIMUM

AVERAGE

MAXIMUM

$24,000

$40,000

$150,000

2-bedroom apartment price

280,000 BOB

830,000 BOB

1.7M BOB

MINIMUM

AVERAGE

MAXIMUM

$40,000

$120,000

$240,000

3-bedroom apartment price

920,000 BOB

1.4M BOB

4.1M BOB

MINIMUM

AVERAGE

MAXIMUM

$130,000

$200,000

$600,000

Townhouse price

1.2M BOB

2.8M BOB

10M BOB

MINIMUM

AVERAGE

MAXIMUM

$170,000

$400,000

$1.5M

House price

1.4M BOB

8.3M BOB

12M BOB

MINIMUM

AVERAGE

MAXIMUM

$200,000

$1.2M

$1.7M

Villa price

1.7M BOB

9.2M BOB

14M BOB

MINIMUM

AVERAGE

MAXIMUM

$240,000

$1.3M

$2M

The average price of a studio apartment in Potosi can range from 140,000 BOB to 410,000 BOB depending on location. One bedroom cost can be anywhere from 170,000 BOB to 1M BOB. A villa can cost you 9.2M BOB on average with prices ranging from 1.7M BOB to 14M BOB.

House / apartment prices to income ratio

Property prices in Potosi can be x99 to x195 multiples of the monthly income depending on the property and the income of the person. On average, property prices are approximately x99 multiples of the average monthly salary in Potosi.

Rent to income ratio

The average rent-to-income ratio in Potosi is around 29%. This means that people pay 29% of their income for rent. Those figures can range from 19% to 39% 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.

Food Prices, Dining Expenses, and Grocery Costs in Potosi

Prices and cost of goods and services in Potosi

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

Fast food combo meal price

8.9 BOB

18 BOB

30 BOB

MINIMUM

AVERAGE

MAXIMUM

$1.3

$2.6

$4.3

The average price of a regular combo meal at a fast food outlet or chain like McDonald's, Pizzahut, or KFC in Potosi is approximatly 18 BOB with meal cost ranging from 8.9 BOB to 30 BOB. The typical combo meal consists of a burger, french fries, and a drink.

Restaurant meal for one price

29 BOB

43 BOB

86 BOB

MINIMUM

AVERAGE

MAXIMUM

$4.2

$6.2

$12

If you are planning to have a nice meal at a mid-range restaurant, expect to pay anywhere between 29 BOB and 86 BOB with 43 BOB being the average price of a plate for one person at a regular restaurant in Potosi.

Fine dining meal for one price

57 BOB

86 BOB

340 BOB

MINIMUM

AVERAGE

MAXIMUM

$8.3

$12

$50

The price range of a meal at fine-dining restaurant is 57 BOB to 340 BOB with the average cost being 86 BOB for one person. This is what you would expect to pay a top-tier diner in Potosi.

Beverage prices, cappuccino, latte etc..

7.5 BOB

12 BOB

18 BOB

MINIMUM

AVERAGE

MAXIMUM

$1.1

$1.7

$2.6

The average price of a regular beverage like cappuccino or latte at Starbucks, Costa, or similar coffee shops and cafes in Potosi is around 12 BOB. Price ranges between 7.5 BOB and 18 BOB depending on the type of beverage, the size, and optional add-ons.

Grocery and market costs

Large bottle of milk price

6 BOB

7.2 BOB

8.9 BOB

MINIMUM

AVERAGE

MAXIMUM

$0.86

$1

$1.3

The average price of a large bottle of milk in Potosi is 7.2 BOB. The maximum what you would pay for milk is 8.9 BOB and the minimum being 6 BOB depending on the brand of milk and other properties.

12 eggs price

4.5 BOB

6 BOB

8.9 BOB

MINIMUM

AVERAGE

MAXIMUM

$0.65

$0.86

$1.3

A dozen eggs costs around 6 BOB on average with 4.5 BOB and 8.9 BOB being the lower and upper limits respectively.

Fresh whole chicken price

10 BOB

13 BOB

19 BOB

MINIMUM

AVERAGE

MAXIMUM

$1.5

$1.9

$2.7

The price range of a fresh whole chicken in Potosi is between 10 BOB and 19 BOB depending on the size of the chicken and whether it is oraganic or not. The average price is approximatly 13 BOB.

Pack of beef price

12 BOB

18 BOB

36 BOB

MINIMUM

AVERAGE

MAXIMUM

$1.7

$2.6

$5.2

The price of a regular pack of beef or meat is around 18 BOB. A pack of beef contains around 1Kg or 1lb depending on packing.

Medium bag of rice price

4.8 BOB

6.6 BOB

9.3 BOB

MINIMUM

AVERAGE

MAXIMUM

$0.70

$0.95

$1.3

A bag of rice in Potosi costs around 6.6 BOB on average with prices rangeing between 4.8 BOB and 9.3 BOB depending on the brand and quality.

Bag of tomatos price

1.8 BOB

2.4 BOB

4.5 BOB

MINIMUM

AVERAGE

MAXIMUM

$0.26

$0.35

$0.65

A bag of tomatoes costs anywhere from 1.8 BOB to 4.5 BOB. A bag of tomatoes denotes 1Kg or 1lb depending on location.

Bag of apples price

3.2 BOB

4.2 BOB

6.9 BOB

MINIMUM

AVERAGE

MAXIMUM

$0.46

$0.61

$1.00

A bag of apples costs 4.2 BOB on average. A bag of apples denotes 1Kg or 1lb depending on location.

Expenditure on food and grocery for students