Money and living costs

Before you arrive to Linnaeus University, you need to make sure that you have sufficient funds to cover both tuition fees (when applicable) and your living expenses.

Cost of living

Your living costs in Sweden will depend on your personal lifestyle choices. Dining out and traveling can be expensive, so it's important to factor these into your budget planning. Many students choose to cook their own meals and bring leftovers for lunch, which can help reduce costs. You’ll also find that many stores and food outlets offer student discounts.

The Swedish currency is the krona (abbreviated as SEK). For up-to-date exchange rates, please consult a currency converter for your own currency.

If you are applying for a residence permit, you must, by law, demonstrate that you have sufficient funds to support yourself. As of 2025, the maintenance requirement is at least SEK 10,584 per month. You can find more information on Migrationsverket.

Banking information

Due to strict regulations and security aspects it takes an effort to open a bank account in Sweden, as in most foreign countries. Banks are required to carry out a stringent check of customer identity and they charge a fee for their services.

The different bank branches require different documentation from you as an international customer. Requirements for opening a Swedish bank account normally include a minimum stay of 12 months as well as a Swedish personal number as well as a Swedish ID card (for some or all services). A Swedish personal number can only be obtained if you have a residence permit valid in Sweden for 12 months or longer. You apply for the Swedish personal number through the tax office (Skatteverket) once you arrive in Sweden.

General information - cash, checks and credit cards

Cash is not commonly used in Sweden, and most people prefer paying with cards. Some cafés and stores don’t accept cash at all and will only process card payments. Most major credit cards are accepted across the country, including international cards. If you have a credit card from your home country, you can use it in Sweden, but be sure to contact your bank beforehand to authorize your card for international transactions.

Visa and MasterCard are widely accepted, both for direct payments and ATM withdrawals, while cards like American Express may be accepted less frequently.

It’s important to avoid bringing personal checks, as they cannot be cashed at Swedish banks. Additionally, don't rely on just one payment method—ensure you have a variety of options to access your money. When you arrive in Sweden, it’s also advisable to have some cash on hand for immediate expenses, such as paying your Student Union fee and student association membership fees in the first few days.