What country has the lowest cost of living?

03 Oct. 2013

Tags: cost of living, nicaragua, ecuador, panama, mexico,

It is possible to live well overseas for a fraction of the cost that you could at home. We asked our editors from around the world to send in the lowest monthly budgets they’ve seen. In each of these countries, a couple can live well on $1,000 to $2,130 a month.

By International Living

The budgets include essentials like rent, health care, groceries and utilities. Price is only one factor IL editors consider when they write about retiring overseas.

But it’s a persuasive one…particularly when paired with other attractions abroad that range from good weather to stunning beaches to solid infrastructure.

In Nicaragua, a couple can live well on a $995 a month, which includes entertainment, groceries, maid service, rent and water. In Malaysia you can live well on $1,076, including health insurance, entertainment, internet, rent and electricity.

A couple in Ecuador can live comfortably on $1,415 a month, including entertainment, groceries, doctor visits, rent and utilities. In Panama a couple’s monthly cost of living is just $1,865, and that includes entertainment, groceries, a full-time maid, rent, phone, internet and cable.

In Mexico, the average monthly budget for a couple is $2,129.

See here for the five most affordable countries to live in today. 

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