The cost of living is one of the main worries for Americans throughout the country. But, relocating to a country where rent, utilities and groceries are much cheaper can provide financial freedom. We explore 14 countries where the cost of living is much lower than the U.S :
Ecuador
Ecuador is a country that is naturally beautiful, with the lush Amazon rainforest and the wildlife-rich Galápagos Islands. The cost of living is very low, with housing, healthcare and food estimated to average $23000 per year for a couple. Cities like Cuenca and Quito are favorites among retirees and expats looking for a cost-effective lifestyle in a beautiful surrounding with plenty of modern amenities.
Costa Rica
Costa Rica is a country that is well known for biodiversity, environmental commitment and high standard of living. The cost of living is moderate, with affordable healthcare and housing that amount to around $1400-$2000 per month per person. The country is well known for its strong emphasis on sustainability and ecotourism, making a desirable place to achieve financial freedom without impacting the environment.
Portugal
Portugal is known for its beautiful landscapes, mild climate and rich cultural heritage. The country is an excellent destination for achieving financial freedom as the cost of living is relatively low compared to other European countries and lower than most U.S states. Expect to pay about €1,700 per couple per month and look forward to affordable healthcare, low crime rates, and great quality of life.
Mexico
Mexico has some of the most beautiful beaches in the world within close proximity to the U.S.. The country’s lively culture and affordable cost of living draws thousands of Americans to relocate ever year. The cost of healthcare, housing and daily expenses are significantly lower than in the U.S., making it easier to stretch your budget. Depending on the size of your home, you can live in Mexico for as little as $600 per month, with the average being $2000 for people who eat out a lot and enjoy local entertainment. Cities like Mérida, Guadalajara, and Playa del Carmen are popular among expats seeking financial freedom as there’s lots to do without eating into savings.
Thailand
Thailand offers a unique blend of culture, cuisine and natural beauty with the choice of bustling cities like Bangkok and idyllic islands like Koh Samui. Couples should be expected to pay around $1000, making it one of the lowest cost of living figures in the world. It’s even cheaper in cities like Chiang Mai and Hua Hin, where rent, utilities and food is surprisingly low.. The country provides excellent healthcare services at affordable prices and the warm climate and friendly locals make it a welcoming place for expats.
Malaysia
Malaysia is a top choice for those looking to achieve financial freedom due to its low cost of living, high-quality healthcare and beautiful environment. You can live very well on around $2500, enjoying luxuries that would be out of reach if you were in the U.S. Kuala Lumpur and Penang are popular with expats but the country has a well-established infrastructure and a diverse, multicultural society throughout.
Panama
Panama offers a very attractive cost of living, particularly outside of Panama City where you can pay as little as $600 per month for all rent, bills and food. The country has a favorable tax environment for expats, with no taxes on foreign-earned income. The healthcare system is excellent and affordable, and the country’s political and economic stability adds to its attractiveness.
Colombia
Colombia has emerged as a popular destination for expats due to its low cost of living, friendly locals, and stunning landscapes. Cities like Medellín and Bogotá offer modern amenities, excellent healthcare and a vibrant cultural scene, all at a fraction of the cost of living in the U.S. or Europe. The average cost of living for all of your standard bills is $673 but living a more luxurious life can take this figure up to no more than $1500.
Vietnam
Vietnam offers a historic and cultural experience as well as an incredibly low cost of living, at just $500 per month. Cities like Ho Chi Minh City and Hanoi are popular among expats with lots to going on, delicious cuisine and a friendly welcome. The country provides affordable healthcare and lots of opportunities to take cheap vacations in neighboring counties, making it an attractive destination for those seeking true freedom.
Philippines
The Philippines is known for its beautiful beaches, warm climate and friendly locals. The cost of living is very low, especially in cities like Cebu and Davao at around $600 per month. The country offers affordable healthcare and housing and English is widely spoken, making it easier for expats to integrate.
Bulgaria
Bulgaria is among the most economical countries in Europe, with a very cheap cost of living. The expected monthly cost of living is approximately $400, which is 45.8% less than that of the United States. The nation is full of breathtaking scenery, and the expanding expat population adds to the vibrant atmosphere. Plovdiv and the capital, Sofia, are well-liked destinations for those trying to make ends meet.
Nicaragua
Nicaragua provides an affordable and laid-back lifestyle, with low costs for housing, healthcare and daily expenses that average $1,200 per month. Cities like Granada and San Juan del Sur are popular among expats. The country’s natural beauty, with its lakes, volcanoes, and beaches, adds to its appeal.
Turkey
Turkey offers a unique blend of Eastern and Western cultures, with a low cost of living of around $800 to $1300 per month. Cities like Istanbul and Izmir provide modern amenities, excellent healthcare, and affordable housing. If you prefer a more rural landscape, there’s an abundance of beach resorts and quieter towns along the coast.
11 Cars that are Known for Breaking Down Regularly
No car company wants to deliver a dud. However, even though companies try their best to deliver excellent cars, some cars turn out to be lemons, breaking down frequently. This creates problems for both the consumer and the manufacturer.
11 Cars that are Known for Breaking Down Regularly
