This really depends on your age and interests, because Malta offers everything for all ages. Spending money depends, on what and how you want to eat, you can be self catering, and get by pretty cheaply while your here. 500g of Pasta is around 58 Euro Cents for Barilla. If you budget around 12 Euros per person excluding Wine, you should get by pretty well. But don't expect anything fancy. Entertainment, is mostly based around bars and clubs, if you want to do anything more cultural, there is always something happening, from theater, to art. Drinks can range from 1.15 Euros for a beer, to 2.30 Euros for a spirit. Don't buy your drinks in a hotel, you will be ripped off, sometimes spending double to triple the price. Transport, use the buses, we have great buses that are cheap. Don't use taxis off the street, they will rip you off. Call a taxi from the yellow pages, and ask the price before you get into the cab. Don't miss Valletta or any of the fortifications, spend the day in Gozo too. Thousands of years of history, gives you a lot to see, wherever you turn.

valletta, msida, sliema, st.julians, paceville, marsascala, birzebbuga, bugibba, mellieha, all over gozo etc etc etc anywhere near the sea or in any village tourists usually visit anyway... if you want reasonable prices, though, avoid the restaurants that come with 5 star hotels, more commonly found in the portomaso and st.julians areas. hope this helped!!!

400 euros a month is quite reasonable, and i'm sure you'll find plenty of nice studio flats! if you want something really cheap...look for flats in msida (since it's near the university...prices are low because of students) ...and bugibba (which is a great place for tourists) but with 400 euros you'll be able to find a place just about anywhere, don't worry :) ....so if you can't find any, you just need to look a bit harder hehe