One of many reasons why Prague is a great place to visit and stay is that you don´t need a lot of money to live there comfortably. First of all, nobody will ask you to prove a certain amount of money on your account. If you really need to keep your expenditure down, you can live there for almost as little money as some of the college students (which is not more than €400) but if you add a little more money to your budget, you can enjoy a luxurious stay and everything Prague has to offer. And there is a lot!
As a digital nomad and a foreigner, you always have to pay bit more than the locals. Not only because you have to take care of your insurance but you also have to search for a short-term housing solutions. On the other hand, this city offers many different options for cheap yet still nice accommodation and if you put a little effort into searching, you might find a great deal! It is very common for the students to share an apartment and you can always join one of many student groups for example on Facebook and start searching there. This way you can get a nice room in a shared flat for 8 000 CZK (€300) a month, everything included. And furthermore, you get to know some nice people! In case you’d rather stay just by yourself, you can get a one-room apartment for around 12 000 CZK (€450) a month. If you’re only staying for a shorter period of time, you might go for a hotel room and get a very simple one outside of the city center for around 10 000 CZK (€370) a month. But there are also many people offering housing on Flatio or Airbnb that can provide you with a cozy place to stay, very often in an amazing location, for a reasonable price.
The other thing you need is a public transport ticket. Unless, of course, you are planning to be getting around on bike, in which case, thumbs-up! The transport system is very easy in Prague and you only need one ticket for all means of transport (buses, trams, suburban trains, subway and even a ferry). If you plan to stay for longer than two weeks and use transport daily, it already pays off to buy a monthly ticket for 550 CZK (€20) and then you don´t have to think about marking a new ticket with every single ride. You can also purchase a 3 months, 5 months and 12 months-long ticket, each of them for even more favourable price. The yearly ticket you can get for 3 650 CZK (€135).
Food and Drink
Now you have the accommodation and a ticket to ride, you need to eat and drink! If you get a place where you can use a kitchen, you can save a lot of money by cooking yourself and live comfortably for around 3 000 CZK (€110) a month. If you prefer eating outside though, get ready to pay around 150 CZK (€5) for a meal.
Unless you prefer working from home or a hotel room, you might want to check the co-working spaces in Prague. Some of them are pretty cool and you can work there for an unlimited amount of time for around 4 000 CZK (€150) a month.
These are all the basics you need and then comes the fun part. A cup of (delicious) coffee costs around 50 CZK (€1.80), a piece of cake 60 CZK (€2.20). A beer you get for around 35 CZK (€1.30) and a glass of wine will cost you 50 CZK (€1.80). Also, the culture in Prague is fairly affordable so don´t hesitate and go to a cinema, to see a ballet in the National theatre or to some of many concerts around the whole city.
All in all, you can live in Prague for 16 000 CZK (€600) quite comfortably and for around 25 000 CZK (€925) in a luxury.