5 Ways to Save Money Living Abroad

  •  
  •  
  •  
  •  
  •  

[wp_campaign_1]

Have you ever thought about living abroad? Perhaps you’re young and would just love to travel, or maybe you’re looking for a cheap place to live for retirement? Either way, there are plenty of ways to save money abroad, just as long as you choose the right places (you know, somewhere like Panama City, Bogota, or Buenos Aires). More specifically, I have come up with 5 ways to save money living abroad.

1) Rent Out a Room

In many Southeast Asian countries, property is CHEAP, plus, there are quite a few properties that have an additional housing unit that could be used as a rental. Rent out this area and your property expenses will be incredibly minimal.

2) Eat the Local Food

The types of food might be a little different overseas, but it’s certainly no less nutritious (actually, it might be more nutritious than most of our processed stuff here in the U.S.) and the cost is only half of what you would find anywhere around here.

3) Entertainment

Entertaining yourself doesn’t always have to cost money. If you’re living overseas, there are plenty of new experiences all around you! Take a walk or hop on your bike and just go out and engulf yourself in the culture. You’ll be fully entertained and it will cost you practically nothing.

4) Save On Your Taxes

If you live outside of the country for more than 300 days out of the year, you do not owe the U.S. any taxes on your first $80,000 in earnings. This alone will save you about $30,000!

5) Ditch the Car

While a car might be a necessity in the U.S., it’s most likely not when you live abroad. Many people walk or ride bicycles and the cost savings is huge! Between my wife and I, we spend over $1,200 a month on our vehicles. With this savings along with the others, you could probably live on half of your current earnings and still have plenty to spare.

As a bonus (call this tip #6), you could also save money when you use international banking. Many times, the costs are less and the interest is better. It’s a small tip, but often times a helpful one. 🙂

If you enjoyed this article, Get email updates (It’s Free!)


  •  
  •  
  •  
  •  
  •  
  •  
  •  
  •  
  •  

1 comment to 5 Ways to Save Money Living Abroad

Leave a Reply

You can use these HTML tags

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>

  

  

  

CommentLuv badge