How To Save Money In Portugal
With low taxes, Portugal remains the most affordable place in Western Europe to buy a home. But the savings do not end there. Read on to learn how to make your euros go much further when moving in.
Even if you aren’t on a tight budget, you won’t want to pay more for your daily living expenses in your new home than you have to. Some things that are cheap in the UK cost a fortune in Portugal, and vice versa, so it’s critical to learn how to manage your money wisely. Here are my top five tips for saving money when purchasing a home in this area. You will save much money if you shop and eat like the locals.
Avoid Imported Products
Anyone who insists on purchasing their favorite British food and drink brands, such as Marmite and PG Tips, will rack up a massive grocery bill. These items can be difficult to obtain and will cost a significant amount of money compared to prices on the shelves of Britain’s supermarkets. If you can adjust to shopping and eating (both inside and outside) like the locals, you will save a lot of money and become more immersed in the local culture.
Stay Off The Tourist Trail
While it’s fun to sip a cocktail or two at a swanky beach bar, try to keep this as a special treat for entertaining guests – ideally when they’re paying to thank you for your hospitality! In Portugal, you do pay a premium for location, and you can easily be charged an astronomical price if you choose the wrong restaurant or bar based solely on its appearance. Locals frequent places that are slightly off the beaten path because they are cheaper and more authentic, which is great for integration.
Don’t Only Shop In Supermarkets
When you move to Portugal, it’s just as easy to fall into the trap of always shopping at the supermarket as it was in the UK. However, doing so is a terrible waste of the country’s fantastic markets and roadside stalls. Market shopping will save you money while also providing you with access to foods that are difficult to find elsewhere. Go to your local market if you want the best strawberries, figs, baby melons, and olives.
Go to your local market if you want the best strawberries, figs, baby melons, and olives.
Make Use Of Trips Home
Some items in Portugal are exorbitantly priced. This is often due to the fact that they are imported, but it is also due to a country-specific quirk. Once you’ve identified these overpriced items, make it a point to buy them on future trips, including those back to the UK. Sun cream and other cosmetics, prescription glasses, and some electrical goods are among the more expensive items that should be purchased elsewhere.
Negotiating a lower price for your property is one way to save a few euros.
Shop Carefully For Phone, Internet, And TV Packages
Similar to the UK, Portugal’s TV and internet providers tend to offer the best deals to new customers while neglecting their more established clients. While scouring websites for phone plans and bandwidth caps isn’t as enjoyable as a swimming pool or a stroll along the beach, finding the best deals is well worth it.
9 Lisbon Budgeting Tips: Saving Money In Lisbon
Are you relocating to Lisbon? Saving is essential whether you are relocating with your family or beginning a new university course as a student. The cost of living in Lisbon rises year after year. According to a Mercer Study, Lisbon rose 23 places in the cost of living ranking from 2020 to 2021. It was ranked as the 83rd most expensive city in the world for expats.
However, when compared to other major European capitals, Lisbon remains reasonably priced. It is 40% cheaper than Amsterdam and London. If you know the best money-saving tips and tricks in Lisbon, you’ll find that you’re not wasting money.
In this section, we’ve compiled the average monthly budget in Lisbon for expats, digital nomads, and families with two children. Let’s look at 9 Lisbon budgeting tips to see how you can reduce your monthly budget and save those euros.
Public Transport And Walking Always
In Lisbon, public transportation is inexpensive, unlike in cities such as London, where a monthly pass costs more than €100. A monthly transportation pass for Lisbon’s metro, buses, and trams should cost around €50.
There are many places in Lisbon that can be reached on foot, but if the steep hills are too much for you, there is always a tram nearby.
Avoiding Uber and taxis is the best way to save money in this situation. Prices for these have been rising, particularly in the last six months, due to the rise in gas prices. If you must take an Uber, try to share one with friends and split the fare.
Student Discounts: Bring That Student Card Everywhere
If you are a student, take advantage of the numerous student discounts available throughout the city and throughout Portugal. The International Student Identity Card, or ISIC, is the most commonly used form of student identification. You can get discounts on attractions, lodging, food, transportation, and more. The discounts range from 10% to 50%.
Avoid Restaurants In Touristy Areas
Avoiding tourist traps is the key to finding cheap restaurants in Lisbon. There are plenty of touristy areas with great affordable restaurants, such as Chiado and Bairro Alto, but some areas should be avoided entirely.
For example, many restaurants near Rossio Square charge at least €20 for a low-quality meal, especially those with large pictures on the menu.
All over the city, you can find cheaper restaurants that serve better and larger meals. For example, Ze da Mouraria in Mouraria serves enormous portions for around €10.
Pro tip: order the special of the day. For example, Taberna da Casa do Alentejo offers a daily special that ranges between €6 and €7.
Some establishments even provide a full lunch menu with an appetizer, main course, dessert, and coffee for €10.
Always request “tap water” if you want to save money. If you simply request water, you will be given a large glass water bottle that will cost you between €5 and €8.
Rent A Room Instead Of An Apartment
Lisbon is Portugal’s most expensive city for renting and buying a home. According to Idealista, the cost of renting in Lisbon in February 2022 is €13/m2.
If you really want to save money, renting a room in a shared house is the best way to go. A one-bedroom apartment will cost you at least €850, but a room will cost you between €300 and €400 per month. Prices may vary depending on location, size, and whether or not the property has recently been renovated.
Look for a rental home on websites like Idealista, Spotahome, and Custojusto. You should be aware that it is customary in Portugal for you to negotiate the rent price.
A unique aspect of renting in Lisbon is that landlords will try to avoid providing you with a rental contract, which is NOT recommended. Many landlords choose not to declare their rental income in order to avoid paying the 28% non-tourism tax.
Landlords will frequently give you a 28% discount in exchange, but you will lose most of your tenant rights because you will not have a legal rental contract. This is not the place to cut corners; do not take this chance!
Find Free Activities And Entertainment In Lisbon
Lisbon has a plethora of free activities and attractions; you just have to know where to look! From green parks ideal for picnic dates to iconic Lisbon viewpoints, the city has a lot to offer without cost.
The Gulbenkian Garden is one of our favorite free things to do in Lisbon. The Gulbenkian Garden, which is open from sunrise to sunset, was established in 1969 at the headquarters of the Calouste Gulbenkian Foundation. The garden, which spans 19 acres, includes two lakes, landscaped lawns, small bridges, and walking paths for visitors to enjoy.
Visit one of Lisbon’s many miradouros (viewpoints), where people drink beer and play music while watching the sunset. Miradouro de Santa Luzia in Alfama, Miradouro da Graça, and Miradouro de Santa Catarina are the best viewpoints.
Many of Lisbon’s stunning historical monuments are best viewed from the outside, which is completely free. For example, the Monument of the Discoveries was established in 1960 by Portuguese architect José Angelo Cottinelli Telmo and sculptor Leopoldo de Almeida during Salazar’s Estado Novo dictatorship.
You can also take pictures of UNESCO World Heritage sites like Mosteiro dos Jeronimos and Torre de Belem.
Look For Promotions At Supermarkets
Supermarkets in Portugal frequently run promotions on specific products, so keep an eye out for these. Discounts can sometimes reach 50%! Many supermarkets also provide discount coupons, so keep these with you and use them before the expiration date.
There are also many mercearias in the center of Lisbon, which are traditional supermarkets that are much smaller than mainstream supermarkets. Although you may not find everything you need here, many items, such as fruit, vegetables, and bread, are less expensive.
If you go to a large supermarket like Continente or Pingo Doce, don’t be afraid of the white-label products, known in Portuguese as marca branca. These are of high quality in Portugal and are frequently as good as more expensive brands.
Travel The Country By Bus
Moving to Lisbon for the first time and not exploring the city would be a waste. Traveling by bus is the cheapest option due to rising gas prices and the high cost of renting a car. Check out the prices of trains for a given journey as they are more comfortable, but a bus ticket is usually the cheapest option.
Rede Expressos, Portugal’s national express coach network, is the most popular bus company. Bus routes are available nationwide, and tickets can be purchased online. Tickets from Lisbon to Porto and the Algarve begin at €5.
Browse The Flea Markets For Cheap Gems
Feira da Ladra, Lisbon’s most popular flea market, has been a part of the capital’s culture since the 12th century. Alfama’s flea market sells everything from vintage clothing and accessories to antique furniture. Instead of driving to Ikea, see what Feira da Ladra has to offer if you need something for your new home.
The market takes place every Tuesday and Saturday, from dawn to early afternoon. If you want to buy something, you should arrive early. The flea market is free to enter, and the prices are extremely low if you decide to buy something.
Be Careful With Your Heating And Electricity Bills
Not so amusing fact: Portugal’s energy bills are among the highest in Europe. Depending on the household size, basic energy utilities average €150. You can save money by keeping an eye on your consumption.
Avoid leaving lights on when you are not using them; the environment will thank you. While the winters in Lisbon are mild, it can get quite cold at night. Reduce your heating consumption by not leaving it on all day; this could nearly triple your winter heating bill.