Teach English in the Czech Republic: Financial Snapshot
As in most countries, the Czech Republic’s rental properties vary between cities and districts and vary according to lifestyle factors.
The average cost of a one-bedroom apartment in one of the Czech Republic’s city centres is approximately 15,000 CZK per month. The average cost of a one-bedroom apartment outside of Czech’s city centres is approximately 13,500 CZK per month.
The average cost of a three-bedroom apartment in one of the Czech Republic's city centres is approximately 21,250 CZK per month, while the same apartment outside of the city centre would be approximately 15,000 CZK per month.
National banks in the Czech Republic include the Czech National Bank, and international banks include HSBC and Citibank. Most have at least one or two English speaking tellers or international exchange personnel. Those interested in opening an account should check with a number of different banks to determine the one most suitable in light of commission rates, English service, and the ability to transfer money internationally.
ATMs are commonplace throughout the Czech Republic and allow withdrawals of local currency using foreign cards that have the Cirrus, Plus, or Maestro symbols. Caution should be exercised when using ATM machines by covering the pin pad when entering the PIN number and by choosing an ATM that is centrally located in a bank, mall or reputable shopping area.
Although the Czech Republic is part of the European Union, the Euro (€) is not the legal tender currently and is not readily accepted, with the exception of some restaurants and tourist attractions in Prague. The exchange rate in these establishments tends to be higher than what is available through ATMs and banks. Discussions have been in play for several years within the government to adopt the Euro; however, implementing this initiative would unlikely be imminent.
- ESL teachers should take start up money to cover initial set up costs, apartment costs and other living expenses prior to receiving first paycheque.
- Credit card companies in your home country should be made aware of your relocation so that they don’t freeze accounts when they see charges in another country (unusual pattern).
The following table provides ESL teachers with examples of the cost of food in the Czech Republic:
- 1 litre Milk – 20 CZK
- 100 gr Cheese – 20 CZK
- Loaf of Bread – 25 CZK
- 10 Eggs – 65 CZK
- Whole Chicken – 95 CZK
- 1 kg Apples – 45 CZK
- 1.5 litre Bottled Water – 10 CZK
- Bottle of Domestic Wine – 85 CZK
- .33 litre bottle Coke/Pepsi – 35 CZK