Mastering Money: A Financial Guide for Indian Students Moving to France

Studying in France can be one of the most enriching experiences of your life — but managing money wisely is key to making the most of it. From navigating euro conversions to budgeting for rent, banking, and food, Indian students face a unique set of financial decisions when they make the move.

Whether you’re just beginning your planning or already counting down to departure day, here’s a comprehensive guide to help you stay financially confident and prepared throughout your student journey in France.

💱 1. Exchange INR to EUR Strategically

Don’t leave currency exchange for the airport. Last-minute conversions often come with high fees and poor rates. Instead:

• Use trusted forex services or travel-focused multi-currency cards
• Keep an eye on exchange rate trends and plan ahead
• Carry a mix of physical cash and digital payment options for your arrival

💰 2. Calculate Initial Fund Requirements

You’ll need to provide proof of funds for your visa — typically €750–€800 per month depending on your city. It’s also smart to maintain a three-month emergency fund to cover surprises like delays in housing, health issues, or administrative processing.

Your pre-arrival budget should include:

• Tuition or university registration fees
• Housing deposit plus first month’s rent
• 3-month international health insurance
• Airfare and temporary accommodation

🏦 3. Open a Student-Friendly French Bank Account

Once you land, opening a French bank account becomes essential for receiving funds, paying rent, and managing day-to-day expenses.

Choose between traditional banks like BNP Paribas or Société Générale and digital-first NEO banks such as Bunq. Look for:

• Low fees and student-specific benefits
• English-language support and mobile banking apps
• Fast account setup, possibly even pre-arrival

Documents you’ll need:

• Passport and visa copy
• Proof of French address (attestation de domicile)
• University admission letter
• French phone number

💳 4. Consider Blocked Account Services

Some financial service providers like Studely offer blocked accounts that fulfill visa proof-of-funds requirements and convert into French bank accounts upon arrival. These can simplify your onboarding process while ensuring embassy compliance.

📆 5. Budget Your Monthly Living Costs

Life in France can be affordable with smart budgeting. Average student costs:

• Rent: €850/month in Paris, €500–600/month in other cities
• Groceries: €200–€300/month
• Transportation: €30–€75/month with student discounts
• Phone & Internet: Starting from €2/month going all the way up to €20–€35/month
• Healthcare: Public health insurance is free but complementary mutuelle costs €10–€30/month
• 🍽️ Use CROUS university restaurants for meals as low as €1 (with scholarships) or €3.30 otherwise.

🧾 6. Apply for CAF Housing Allowance

CAF (Caisse d’Allocations Familiales) offers monthly housing subsidies ranging from €80 to €200 based on rent, housing type, and income. Apply soon after signing your lease.

💼 7. Take Advantage of Part-Time Work

International students in France are allowed to work up to 964 hours/year (about 20 hours/week). Great options include:

• Campus jobs (language labs, libraries, research assistance)
• Dog-sitting or tutoring
• Digital marketing or freelance gigs

Just remember: declare your income, even if it’s modest. It helps with taxes and future visa applications.

📱 8. Build Habits That Protect Your Peace of Mind

Good financial management isn’t just about saving money — it’s about building confidence.

• Use apps like Tricount to track expenses
• Shop second-hand on Vinted or Leboncoin
• Take advantage of “Soldes” (seasonal sales)
• Avoid overdrafts, which come with high penalties
• Cancel unused subscriptions early

🗂️ And finally — always keep records: transaction receipts, lease agreements, and email confirmations from your bank or school.

Financial stability helps unlock the real joy of studying abroad — focusing on your goals, exploring French culture, and building a life you love.

So start early, plan thoughtfully, and remember: you don’t have to figure it all out alone. Ask Sétu is here to support you every step of the way.