Your Dream Life on a Budget: Discover the Top 5 Cheapest Countries to Live In
The idea that living internationally is only for the wealthy is a myth. In reality, there are incredible places around the globe where your money can stretch further than you ever imagined, offering a fantastic quality life without breaking the bank.
I’m talking about countries where a delicious meal costs just a few dollars, rent is surprisingly low, and adventure is around every corner. If you’re looking to make a big change, travel longer, or just drastically cut down your cost of living, then keep reading as we explore the top 5 cheapest countries to live in.
What Makes a Country “Affordable”?
What makes a county affordable to live in is a combination of factors:
Rent/Housing:
This is usually the biggest expense, so low rental costs are key.
Groceries/Food:
How much does it cost to eat well, both cooking at home and dining out?
Transportation:
Is public transport cheap and reliable, or will you need a car?
Utilities:
The cost of electricity, water, internet, and phone services.
Healthcare:
Access to affordable medical care.
Lifestyle:
The cost of entertainment, hobbies, and social activities.
Keep in mind that individual spending habits always play a huge role, but these countries consistently rank high for overall low living expenses.
 The Top 5 Most Affordable Countries to Live In
1. Vietnam
Vietnam is an absolute gem in Southeast Asia! Imagine savoring delicious street food for just a dollar or two, exploring ancient temples, and zipping around bustling cities or serene rice paddies. Rent in major cities like Hanoi or Ho Chi Minh City can be incredibly reasonable, especially outside the expat bubble.
Average monthly expenses (excluding rent): $400 – $700
2. Colombia
South America is calling! Colombia has shaken off its past and emerged as a vibrant, welcoming country with a surprisingly low cost of living. From the eternal spring of MedellÃn to the Caribbean charm of Cartagena, you can find affordable housing and enjoy fresh, delicious produce at local markets.
Average monthly expenses (excluding rent): $500 – $800
3. Portugal
Yes, a European country made the list! While Western Europe can be pricey, Portugal stands out as one of the most affordable options, especially outside of Lisbon and Porto. With beautiful coastlines, historic cities, and delicious food and wine, it offers a fantastic European lifestyle for much less.
Average monthly expenses (excluding rent): $700 – $1200 (can be lower in smaller towns)
4. Mexico
Our neighbor to the south offers a huge variety of experiences at a fraction of the cost of living in the U.S. or Canada. If you prefer vibrant cities like Mexico City, laid-back beach towns, or charming colonial villages, you’ll find affordable rent, fresh food, and a rich cultural tapestry.
Average monthly expenses (excluding rent): $500 – $900
5. Thailand
Another Southeast Asian favorite, Thailand consistently ranks as one of the top 5 most affordable countries to live in. Known as the “Land of Smiles,” it boasts stunning beaches, lush jungles, and bustling markets. Your budget will go far here, whether you’re enjoying street food, renting a scooter, or finding a cozy apartment.
Average monthly expenses (excluding rent): $400 – $700
Ready to Make the Leap?
Moving abroad, even to one of the top 5 most affordable countries to live in, is a big decision, but it can be one of the most rewarding experiences of your life. Imagine the new cultures you’ll explore, the delicious foods you’ll taste, and the incredible people you’ll meet—all while potentially saving a significant amount of money!
If you’ve been dreaming of living abroad, I hope this list inspires you to start researching and planning. The world is full of possibilities, and your adventure could be just around the corner.
Which country on this list excites you the most, or have you lived somewhere affordable that you’d recommend? Share your thoughts and experiences in the comments below!
