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Financial Snapshot for Mexico

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Expected Apartment Costs in Mexico
Banking in Mexico
Food Costs in Mexico 

Expected Apartment Costs in Mexico

Like many places around the world, the price of rent in a popular city will cost more than rent outside the centre of a city or in a neighbouring rural area. Living in a shared apartment or renting a single room are popular, less expensive options avaiIable to those looking to save on their monthly costs. It is estimated that most English teachers in Mexico will spend between 5,500 and 9,500 MXN per month to rent a private apartment.

Banking in Mexico

English teachers who want to set up a bank account in a Mexican bank will have the option to have the money in their account in the form of American dollars or Mexican pesos. Money can be transferred to accounts throughout Mexico or abroad. In order to get a Mexican bank account, ESL teachers must show the following:

• A valid passport
• A Temporary Resident or Permanent Resident Visa
• At least one reference from a bank or creditor (Mexican or abroad)
• Proof of address

Food Costs in Mexico

Mexican cities are filled with restaurants and street vendors selling a wide assortment of food. One of the reasons many ESL teachers decide upon teaching English in Mexico is the access to a diet of well-known foods. Eating out is relatively inexpensive compared to America, but eating at home can help English teachers save even more money. It is highly recommended that foreigners avoid tap water, fruits peeled by others, and salads. Always wash all food with bottled water (which is extremely easy to find and cheap to purchase), as it usually takes several months before the digestive system adjusts to Mexican water. The same thing occurs to Mexicans when they travel north of their border. Before leaving home, it is recommended to consult a family physician about drinking and eating while in Mexico.

Below are some examples of typical Mexican food prices:

• 1.5L bottle of water - 16 MXN
• Taco from a street vendor - 10-15 MXN
• Eggs (carton of 12) - 35 MXN
• Bottle of Domestic Beer  - 39 MXN
• Big Mac  - 63 MXN