The standard of living in Singapore is amongst the highest in Asia. Compared to countries in western continents, the cost of living here is relatively low, and basic items like food and clothing are very reasonably priced.

When planning your budget, you will need to cater for these items :

An international student in Singapore spends on average about S$750 to S$2,000 a month on living expenses. This amount of course, varies depending on your individual lifestyle and course of study.

These estimated cost ranges in the Table below gives a rough guide of the basic expenditure an international student may incur per month.

Most banks handle travelers' cheques and change foreign currencies. Passports are required when cashing travelers' cheques. A nominal commission may be charged. Apart from banks and hotels, you may change money at outlets which display the sign "Licensed Money Changer".

Most banking hours are usually from Mondays to Fridays, 9.30am - 3pm and Saturdays, 9.30am - 11am/1pm. Some banks offer late night banking and have extended hours on Saturdays. Some banks in Orchard Road even open on Sundays. It is best to check with individual banks on their operating hours.

You may need to open a savings or checking account while in Singapore. You will need to bring a minimum initial deposit (usually $100) if you are below 21 years of age, as well as your passport and Student's Pass/ letter of admission to your educational institution. Upon opening your account, you will be given an ATM card which gives you the added convenience of being able to withdraw money from any ATM machine operated by your bank. The ATM card also entitles you to make payment via NETS (Singapore's cash less payment system).

You may receive additional funds using bank drafts made out in Singapore dollars and drawn from a Singapore bank. These may be credited to your account and withdrawn in one to two days. Cheques drawn on banks with no branches in Singapore may take up to three weeks to clear.

Singapore has one of the most extensive and efficient public transportation systems in the world. Traveling in the city and suburbs is typically a quick and affordable affair.

The Mass Rapid Transit (MRT) operates a network of trains serving 51 stations. Trains operate from 5.30am -12.30am daily, every three to eight minutes. A ride on the MRT from Singapore Changi Airport to the city takes less than half an hour. A copy of A Quick Guide to MRT Travel can be obtained from the Station Control Rooms at all MRT stations.

Public buses run daily from 5.30am - midnight. Extended night services cost slightly more.

Rides on the MRT cost from 80 cents to S$1.80. For travel on the MRT, you need to purchase a one-trip fare card. Public buses accept cash. The recommended mode of payment for both the MRT and public buses is using the EZ-link card which is a stored-value card giving discounted fare for multiple rides. The EZ-link card may be purchased and topped up at most MRT stations and bus interchanges. Each adult card is sold with a minimum value of S$10 plus a deposit of S$5. The Transit link Guide gives detailed information on both the MRT and bus services and is available at $1.50 from most MRT stations, bus interchanges and major bookstores.