Are you looking out your cubicle and wondering what your life might have been if you were living in some other country? Well… stop dreaming and start acting. Explore various places in your budget and choose which one you wish to settle in. So let’s look at the options in which you can live a richer life for less money.
A few things to keep in mind while looking for the best country for yourself:
1. Local purchasing power index: It helps you measure the relative purchasing power of a normal salary in that country. The higher the purchasing power, higher the number of goods you can buy and vice versa
2. Rent index: Normal rates of rent
3. Groceries index: Typical grocery prices in that country.
4. Consumer price index: Cost of local goods and services — including restaurants, groceries, transportation and utilities.
Some of the cheapest countries to live in are:
Placed in the interiors of South America, Bolivia is a country that offers a bang of lifestyle options for cheaper rates as compared to North America. From high end right down to street food outlets, eating outside in Bolivia is pretty affordable. Get your tummy filled for about $1.50 to $2 with restaurants serving fried or rotisserie chicken piled high on top of rice and fries.
Living in Bolivia is just as cheap as the food and healthcare is. Pretty houses with a beautiful sight that costs $2000 up in any city in U.S, costs only about $500 a month rent in Bolivia.
Georgia is surprisingly clean and safe city for the westerners with quite cheap night life in world’s greatest clubs. The Old city of Tbilisi offers a great number of cafes and trendy bars that serve food at pretty cheap rates for example a nice bottle of wine costs $5 only.
While down that street, you’ll come across lovely people who’ll guide you to the nearest dance club with cheap rates. You won’t miss out on expats renting apartments for $150 a month that is very cheap. A word of advice though, never mention the fact that Georgia borders Russia; might not be a good topic of conversation with the locals.
Thailand is a home to various expats who find this country rich of culture and low cost of living. This country is a good option for retired people because of the great retirement options from lively towns and cities to beach spots and highlands. Don’t push on getting beach view apartments though. the balconies looking over rice paddies are much more cheap than the ones overlooking the ocean.
Vietnam is a home to various beautiful destinations with immense natural beauty, steeped in history and full of opportunities. Get high quality low priced houses in the heart of the city, among pine-forested mountains, or overlooking a sun-washed beach; anywhere you want. Vietnam is one of the cheapest countries to live in Asia region
It depends on your standard of living that how much it is really going to cost for you to live. Imported food stores and various restaurants can be easily found all around Vietnam but don’t look for going down them often. Look for local grocery stores and you will save a lot on household goods. If you prefer a simple lifestyle, then Vietnam is going to save to loads of money on a monthly basis.
Thanks to the 15 years of the boon in the economy of Cambodia, this centrally located Southeast Asian country is under the phase of a renaissance. This “Kingdom of Wonder” is known to have worked magic in improving the lifestyle of retirees to one of luxury on a modest budget.
The low costs let the expats in Cambodia live a rich life on the budget of a poor man. A good bottle of Champagne costs $25 or a round of golf on a pro-designed course with caddie for $65 a day at the country club. This city is a boon for the retired people to higher their standards of living with a handful of money.
Peru is surprisingly the least expensive places to live in Latin America. People here enjoy a high quality of life with much cheap accommodation, travel, food, and clothes. Again it is a great place for retirees to improve their standard of living.
Your cost of living will differ as per the place you decide to live in. A view of the Amazon Jungle is much cheaper than the balcony overlooking the waves on the beach. Both the views are equally amazing so go for the cheaper one.
Pharmaceuticals is one another cheap factor that makes you want to live here. One could easily live in under $1000 if needed. Food is also quite affordable and adds up to the low cost of living in Peru.
7. Costa Rica
Costa Rica is very popular in Central America not only for a cheap cost of living but also for other reasons like the lush green forests, beautiful tropical beaches, and friendly localities. Living and working in Costa Rica is very affordable. You will never go broke while working here. although Costa Rica is relatively expensive than the neighboring areas, it is high in salaries which makes up for the slightly expensive rates.
Food and transportation is also very cheap. A full-sized meal in a local restaurant will cost around $3-6. The rent runs from $300-800 per month depending on the size of the apartment and location. Local transportation starts from $0.70 per trip which is pretty cheap.
Europe is known to be a very expensive place to live in. But Bulgaria stands out among various other countries as a cheap spot for tourists as well as expats. With a modest budget, you could live a king-sized life in Bulgaria. The central location of the country is a cherry on the top. The history of this place goes back over 8000 years and exploring this country is a good time off.
A few good-paying jobs for expats could be teaching English and other Tourism related jobs. An apartment costs around $230 per month with an inexpensive meal starting from $5. The public transport is also as cheap as $1. Among the cheapest countries to live in the world.
Mexico is the best option for American and Canadians as it is well within reach. It has something or the other for everyone. Starting from Mayan ruins in the jungle to turquoise Caribbean waters to laid-back beach towns on the Pacific Ocean, it is a country of immense natural beauty.
Let’s not forget the street food. From tacos to tamales, ceviche to Aguas Frescas, the food isn’t only mouth-watering, but also very cheap. The living costs may go down as you skip the tourist attraction spots and move to more local areas in the Western Cities. Talking about the cost of living, a 1 BHK will cost you around $200-$500 per month with street food starting from $1 per meal, and a monthly pass for local transportation starting at $16.
10. South Africa
Do you really wish to work and live abroad, but the thought of language translation scares you away? Don’t Worry! South Africa is an English spoken country with a cheap living cost. It is probably the cheapest English-speaking country to live in. Not only can you survive without having learn their language, but most South African cities also have a high standard of living, similar to Western cities. This makes it easy for travellers to settle in and transition.
From safaris to whale watching, river rafting to zip lining, entertainment can be found in abundance in this country. Despite being an English-speaking country, South Africa has 10 other official languages, so teaching English is still a good option for a job.
Cost of living: Rent for a 1-bedroom apartment is around $350-500 per month. A domestic beer costs around $1.70 and a meal at a local restaurant starts from $8. South Africa is among the cheapest countries to live.
China may not be the first name to pop up while looking to live abroad but working in China can be both very affordable and very lucrative at the same time. Salaries here are higher than in many other Asian countries and the economy is booming. Job opportunities are plenty and has a wide diversity to choose from. Bigger cities are a little more expensive but of course they come with higher salaries.
Teaching English is the most popular job for expats in China since Mandarin is the only language they tend to know. The cost of living in China can be surprisingly low if you avoid the biggest cities. Rent for a 1-bed apartment starts at $300 and a full fledged meal in a local restaurant costs around $3.
Poland is another fantastic and affordable option if you are set on living abroad in Europe. It is slowly gaining attention from international travelers and expats. The big cities of Warsaw and Krakow are very modern and have all the Western amenities you could nee at half the price you probably would spend in Germany.
As an expat, the most popular jobs here would include working in customer service and teaching English remains stagnant as always. The cost of living includes rent for a 1-bed apartment starting at around $350 and a meal out at an inexpensive restaurant only around $5. It is among the cheapest countries to live in the world.
There are various options for you to live and earn in foreign countries without going bankrupt. The best thing to do is to leverage your salary in a cheap country to save up for the future. Whichever cheap country you pick out of this list, make sure you compare salaries and look for any benefits or bonuses that are included in the program like free rent. The most important is being happy and satisfied so choose accordingly.