💰 Real Costs of Living in Portugal as a Digital Nomad
How to make your digital nomad life in Portugal financially work is a very important question to figure out before you start your nomadic journey. By knowing these expenses beforehand, you will prepare yourself for a smooth journey. Plus, it minimizes the risks of running out of funds, which could cut your journey short.
We have highlighted 5 monthly expenses you are likely to have as a digital nomad in our top 5 digital nomad hubs.
- ⛺️ Accommodation
- 🍕 Food
- 🖥 Co-working
- 📞 Data plans
- ⛑ Travel insurance
💸 Summary of Real Costs for 5 Digital Nomad Destinations in Portugal
We've created a table of costs during the high season to help you estimate your monthly expenses in each of our recommended digital nomad destinations. We chose to focus on high season instead of low season, when prices are lower because we've noticed that expenses often exceed expectations...
Destination Accom Food Coworking Mobile Insurance* Total Lisbon €1,923 €350 €225 €35 €43 €2,576 Porto €1,520 €350 €150 €35 €43 €2,098 Algarve €1,890 €350 €150 €35 €43 €2,468 Ericeira €1,086 €350 €180 €35 €43 €1,694 Madeira €1,172 €350 €130 €35 €43 €1,730
*Safetywing 18 - 39 years old
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Break Down of Real Costs in Portugal
#1 ⛺️ Accommodation Costs - €1,500 / $1,648
We don't know about you, but we consider nice and comfortable accommodation important. Luckily in Portugal, there are many options available, and that's why we've researched and discovered some of the best long-stay Airbnb's and coliving spaces in Portugal's top digital nomad hubs; make sure to check it out.
Private rooms are worth considering if you are on a tight budget or don't want to spend too much on accommodation. A complete apartment costs, on average, around €1,500 / $1,648 per month, while a private room costs about €1,360 / $1,493 per month.
Taking time to find the right accommodation is so important. It can definitely make your digital nomad stay more enjoyable, comfortable, and productive, even though it may require a significant portion of your budget for rent.
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#2 🍕 Food Costs - €350 / $367
Portuguese food is delicious and quite diverse. It is a combination of Mediterranean flavours with fresh seafood and hearty meat dishes. But don't worry; there are also plenty of choices available if you are vegetarian or vegan.
If you want to have dinner out, the best way to save money is to choose a budget-friendly meal from a local or fast food restaurant.
This will cost around €7 / $7.70.
Although buying groceries and cooking yourself is the most budget-friendly option. On average, you would spend around €300 /$330 on groceries per month.
#3 🖥 Co-working Space - €160 / $176
As a digital nomad, you're constantly on the search for the perfect workspace. And even though working on a beach or in a café sounds blissful, it's not always the most productive.
Fortunately, more and more coworking spaces are opening up and creating the best work environments, which aren't boring either! Besides, they are quite cost-effective as they have special plans available.
We've compiled a list of our favourite coworking places in each of the five digital nomad hubs to help you pick the best one for your working day.
Our recommended Co-working spots in Portugal
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#4 📞 Mobile plans - €35 / $39
As a digital nomad, it's crucial to have internet access. Fortunately, obtaining a local SIM card in Portugal is easy. You can choose from different plans with various data packages and speeds.
We recommend the NOS mobile plan, which costs €35 / $39 for a SIM card and offers unlimited data for 30 days.
Just make sure to check with your provider before using your phone outside the country in case of additional roaming fees.
Step-by-step guide to set up a Local sim in Portugal
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#5 ⛑️ Travel Insurance $45
You never know what could happen while on the move. That's why travel insurance is an absolute must-have. It's not just about protecting yourself in case of illness or accidents but also ensuring you can continue to access your work no matter what.
Travel insurance policies for digital nomads cover issues such as delayed flights, trip cancellations, and lost luggage. The cost of these policies may fluctuate based on your travel destination and duration. We suggest opting for Safety Wings, which costs about €43 / $45 per month and offers coverage up to $250,000.
But it is good to do your own research and find a policy that fits your needs.
Our Recommended Digital Nomad Insurance Options
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Time to start packing
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Conclusion
Living and working remotely in Portugal comes with many perks and is definitely a cool adventure!
Just keep in mind that before you make the move, it is important to consider all the costs of living abroad. You should plan and budget ahead to make sure it's a stress-free process.
We hope that providing the real costs of our 5 recommended destinations in Portugal has given you an idea of what to expect. It's time to start building your financial plan so that you can start your digital nomad journey in Portugal.
Good luck, and don't hesitate to reach out to us on Instagram if you have any questions - @remotevagabond
*** This article is for informational purposes only and should not be taken as financial advice. We recommend consulting with a qualified financial advisor before making any decisions regarding your finances or lifestyle. ***