Tired of 3/4 of your income going just on living expenses, busy cities, crowded streets, over priced rents or insane mortgage rates? Ever consider living abroad?
There are many places around the globe where you can have a good quality of life live for far less.
Fortunately, the cheapest places are often the most beautiful and exotic places to live. This is why so many North Americans are making their dreams come true, so consider packing your bags and moving to paradise destination, and make the most out of life now.
The word ‘cheap’ is a relative word, cheap for you may not be cheap for people living say in Costa Rica. Spending just a few dollars a day we define as cheap for the purposes of this article. There are several locations in Asia and Central America that are exotic, and cheap.
We have chosen Thailand, Cambodia, Philippines, Costa Rica and Belize to explore as cheap options for living abroad.
Thailand
$1 for a glass of beer? Yes, that’s right. Think about sandy beaches, constant sunshine, and excellent food and realize that you can live abroad for approximately $500 a month in Thailand.
$500 per month won’t rent you a beach front cottage or apartment but you can easily find cheap accommodation where you will pay around $30 – $90 a month for a small flat.
Fruits, vegetables, and meat at the local markets are exceptionally inexpensive and good Thai food from street food vendors is also very cheap. You can find spiced chicken or pork with rice or noodles and many other tasty dishes for approximately $1 (make sure to buy from the busy vendors that the locals mostly frequent to make sure you are getting good quality food). Your food budget of $200 per month will leave you with lots of money to enjoy life in the slow lane.
Cambodia
Living costs Cambodia competes with Thailand. The beaches are not great as other countries in the area like Thai but you can easily live for less than $500 per month.
Accommodation prices are getting higher because of the many foreigners moving in so you can bank on $200 and up a month.
You can live comfortably in the Cambodia after rent for $300 per month. Food prices are similar to Thailand and dining at the restaurants will only cost you around $2 a meal.
Cambodians are extremely poor but humble people; they respect you so return the respect. Very poor countries like Cambodia are ideal for community oriented people that like to contribute to the betterment of society.
Philippines
The Philippines is another exotic country with low cost of living which allows you to get by on very little a month.
In the Capital Manila, rent prices start at $360 a month. But other developed provinces in the Philippines have sandy beaches great amenities and you can find apartments for the low price of $170 a month.
Food is cheap as well on a budget of $250 a month. Further, the Philippines offer resident retiree visas, but you need to keep a deposit $50K in a bank, and $10K over the age of 50 with a proven monthly pension of $1,000 for a couple and $800 for a single person.
Costa Rica
Living in Costa Rica is a pleasure, with a climate zone to match your taste. If you envision eco-living, incredible wildlife and incredible weather Costa Rica is for you. The locals (Ticos) are very friendly people, and Costa Rica is the most politically stable countries in Central America and also boasts the large middle class in Central America.
Prices in San Jose are low where you can easily live on $500-$700 a month.
Living outside of the main city of San Jose, you can rent a small or medium house for $400 a month.
Restaurants have excellent meals with dessert for about $4.00 – $5.00 and you can buy food at local markets and from the street vendors, at significantly lower prices than North America and Costa Rica is an agricultural country.
Pension Based Residency (Pensionado) is also available in Costa Rica with proof of $1600 per month, as well there is investment and income based options for people looking to live abroad in Costa Rica.
You will enjoy fantastic weather and explore the country’s history and culture. Costa Rica hosts 5% of the world biodiversity and is called the Jewel of Central America, further Costa Rica has a large expat population because of its close proximity to North America with many ‘gringo’ communities spread throughout the country.
Belize
Belize along with Costa Rica is considered one of the most beautiful countries in Central America. Great beaches, subtropical climate, and diverse wildlife and further the official language in the country is English.
If you like the ocean and scuba diving and snorkeling this is a paradise with the best preserved marine ecosystems in the Western hemisphere.
Similar to Costa Rica, rent for a nice place can be had for $500 a month. Groceries are inexpensive as well when buying from the local vendors. As with anywhere, imports are approximately 50% more expensive.
If you’re 45 or they have an incentive program that allows you to live a tax-free if you qualify.
The rain season starts in May and ends in October, again the same as Costa Rica, but Belize gets much more rain and hurricanes are a threat every year.
Living abroad to save money is a goal of many upcoming retirees and living abroad can be a great adventure but make sure to do your homework, and try to spend several months living in the country first to make sure it’s right for you. Try to find expat community forums to get to know what others are saying and what their experiences are. Living abroad is not for everyone but it can be a very rewarding adventure.
For more information on Living Abroad in Costa Rica CONTACT US and one of our Experts will be happy to assist you.