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Daily archives "April 20, 2020"

The Cost of Living Abroad (Part II)

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Usually, you’ll find a place to live before heading abroad to live.

Are you a U.S. citizen and retired abroad? Verify to be sure you can still collect social security in your new country.

In any country, the cost of living is typically lower in small towns and small cities than in big metropolitan areas. So, if you need to keep your costs down, avoid moving to the downtown area of a big city. Instead, opt for a smaller town a couple of miles outside the city’s hub.

Cost of Living Factors to Consider

When we talk about the cost of living, we’re talking about way more than just the cost of rent or housing.

A good number of ex-pats find a place to live before they move, so many are aware of the average cost of real estate up front. Though, there are many other things that folks usually don’t take into consideration until after they’ve gotten to their new country.

Don’t be caught off guard. Besides housing costs and rent, research these essentials too:

Utilities

Utilities are more than just electricity, heat, and water. Don’t forget to take into account the cost of smartphone data plans, phone bills, and monthly Wi-Fi connections.

Transportation

If you’ll be doing the majority of your traveling by bus or train, be sure you realize the cost of public transportation. On the other hand, if you will be driving, decide how much you’ll want to pay for a car and how much you can expect to pay for gas. These expenses differ considerably around the globe.

Food

Foreign countries import and export various types of food. The things that are affordable in your homeland might be very expensive overseas, and vice versa.

Find out what grocery basics cost, as well as those extras you don’t want to do without.

Additionally, look into the cost of dining out in restaurants. If you like to have a few drinks with dinner, research the costs of coffee, beer, alcohol, or whatever it is you enjoy drinking.