The cost of living in Europe varies by country. In most respects the cost of living is greater than than that of the United States. Rent may be low in some areas, only to be matched by higher daily expenses such as in food and clothing. If you plan to move to Europe, make sure to have three months worth of living expenses saved, about 5,000 euros ($7,550). You may want to triple this figure if you are moving as a family of four.

Visa Expense

Before you take up temporary residence in a chosen European country, check how long you can stay on a tourist or temporary visa. If you plan to stay on a permanent or long-term visa, learn what's required before you leave, as well as the expense of applying for a particular country's visa.

Moving Personal Items

Moving furniture, cars and other household items can cost several thousands of dollars. Consider storing items you may not want to part with rather than shipping them abroad.

Rent

If you are planning to rent a small apartment in a major European city, it can cost anywhere from 500 to 900 euros ($755 to $1,350) monthly for a studio or one-bedroom unit. Living in a major city is typically more expensive than other parts of a country. For some capitals, such as Lisbon or Athens, rent can be very reasonable, as low as 300 euros a month. In Paris or London, rent can ranges from 500 to 1,000 euros.

Utilities

In many European apartments, water, hot water and heating are included, though it is important to ask if these amenities are. Electricity is usually a separate cost. Often there is also a building maintenance charge. If you plan to move to a European country that has a warmer climate, make sure to take a portable fan. You will save money on air conditioning costs if your building has an AC. Since most buildings do not have AC, the fan provides a cheap alternative to buying an air conditioner. Quite often, kitchens in European homes are stand-alone, or portable. It's likely you will find apartments unequipped with appliances, so adding them will incur an additional cost. Buying appliances through IKEA is a popular, do-it-yourself way to save some money. When choosing a European cell phone contract, your best bet is a quad-band phone that accepts a Sim card, because it works on all European frequencies. This phone can cost anywhere from $60 to several hundred dollars. Inquire about having a quad-band phone unlocked, if you buy it from a standard carrier.

Grocery Shopping

If you have a modest budget in mind, plan to spend 100 euros ($151) a week on food. Stores are generally not open 24/7; learn shopping schedules and observed holidays. Be mindful that most European countries place a VAT, a value added tax, which is included in the purchase price of goods. This tax helps to underwrite social and other governmental services. For instance, France has more than a 15 percent sales tax on food products.

Public Transportation

Depending on type, transportation costs can vary. Most European travel systems have discount cards of some kind for families and travelers under or over a certain age. In Paris, one metro ticket can cost about two euros and it's cheaper to purchase a carnet, a ticket booklet of ten. When traveling, even short distances, make sure to carry some form of official ID with you at all times.

Financial Arrangements

In regard to banking, it is advisable to open an international bank account. Opening an offshore account through HSBC requires $10,000. Also, be aware that credit cards issued in the United States do not work at all European terminals because of differences in technology (European cards use a chip). Have euros available for times when your card doesn't work.

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