Need to make a move? Does your job offer flexibility so that you can work from anywhere? If so, these six places (three in the United States and three abroad) offer some of the lowest cost of living expenses in the world. Your salary will go a lot further here, allowing you to live a more luxurious life while saving even more for the future. Much of this data was collected using Numbeo’s cost of living tool which can be used to research all of your future destinations.
1. San Antonio, Texas
With a cost of living 11.2% lower than the national average in the United States, San Antonio is the sixth-most affordable major city according to a recent Yahoo! Finance survey. Texas is also notable as one of only six states that levies no corporate income tax on its residents. Taking advantage of these geographical advantages could help you to hold on to more of your paycheck.
2. Thailand
Many people look to retire to tropical climates but find the housing costs in places like Florida, Hawaii, and the Caribbean too expensive. You can live extravagantly on a low budget in Thailand, one of the world’s warmest countries. The cost of living in Thailand is roughly 43% lower in Thailand than in the United States; a two-bedroom condo near central Bangkok can be rented for an average of $550 per month. The only place you won’t save money? Imported foods, which cost several times more than they would in the United States.
3. Augusta, Georgia
Augusta, Georgia is home to one of the world’s most famous golf tournaments, The Masters, and also some of the nation’s lowest tax rates. Cost of living in Augusta is particularly low because of a sales tax 21% lower than the national average and a personal income tax 55% lower than the national average. If you move to Augusta, you’ll also enjoy beautiful weather; the average temperature in August is 81 degrees Fahrenheit.
4. Poland
The temperatures in Poland may not be as enjoyable as in Georgia, but Poland’s overall cost of living is 47% lower than in the United States. You can rent a one-bedroom apartment in the center of Warsaw for as low as $400 per month, or purchase an apartment for only $2,000 per square foot. Few places offer such affordable opportunities to build a property portfolio!
5. Memphis, Tennessee
Memphis is rich in culture and entertainment, without the high prices to match. While you’ll spend a fortune living in similar musical havens like Los Angeles or New York City, the cost of living in Memphis is 14% lower than the US average. You can put down roots in this southern city for a low cost as well; the average home costs only $180,000.
6. South Africa
Our last international recommendation, South Africa, used to be one of the cheapest places in the world to live and work. While cost of living in South Africa has increased in the last few years, you will still enjoy lower prices on goods and entertainment; a night out in Johannesburg will cost a fraction of a night out in London, New York, or Paris. You’ll save on housing as well in South Africa; a one-bedroom apartment in the center of Johannesburg can be rented for as low as $200 per month.
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