How much do you need monthly for a decent life in Austria?
What do you really need to live a modest yet dignified life in Austria? This is revealed by the latest data released by the Central Authority for State-Recognized Debt Counseling Offices (ASB).
The authority annually issues what is known as the "reference budget" (Referenzbudget), which outlines the amount an individual needs monthly to participate in daily life without significant constraints. The goal is not only to cover basic needs but also to include the ability to interact socially. The authority clarified: "It is not just about financial survival, but also about social participation."
Reference budgets have been calculated for ten different types of households, based on the assumption that they live in rented apartments without owning a car. These budgets include the minimum level of social and cultural participation, such as the possibility of occasionally going to a café, attending a movie in the cinema, buying a gift for a relative, or inviting friends over. The goal is summarized as enabling a person to live a 'modest yet decent' life, as also confirmed by the 'Consumer Information Association' (VKI).
Reference budgets are considered a guiding tool only, not a mandatory rule for how to spend money. They were first prepared in Austria in 2009 as part of a European project and are updated annually based on real data. Detailed and accurate costs can be found on the agency's website.
Here are the monthly amounts required for a "modest yet decent" life according to the type of family: Single person: €1,730 Couple: €2,690 Couple with one child (7 years old): €3,638 Couple with two children (7 and 14 years old): €4,433 Single-parent family with one child (7 years old): €2,683 Single-parent family with two children (7 and 14 years old): €3,704
These figures illustrate the minimum required to live with dignity in Austria without social deprivation.