There’s no denying that prices for nearly everything are higher in America than they were before the coronavirus pandemic. Inflation spiked at over 9% in the summer of 2022, and although it’s fallen to more manageable levels lately, prices still remain high.
According to the Bureau of Labor Statistics, the average American household spent $77,280 in 2023 — a 5.9% increase over 2022 — and that number no doubt went higher still in 2024. On a monthly basis, that amounts to $6,440. If that number is breaking your budget, one option could be to consider living overseas.
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Formerly the domain of wealthy retirees, a life abroad has become more accessible, more affordable, and more realistic for a wide range of Americans, particularly those looking to live within their means. In some countries, even $2,000 per month is enough to get by, although you may have to make some sacrifices along the way.
Here’s a look at some desirable international destinations where you can get plenty of bang for your buck.
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Thailand
Numbeo’s cost of living: 45.5% lower than the USA
Thailand is blessed with an assortment of riches. While the country is well-known for its endless white sand beaches and delicious cuisine, the country is also so friendly that it’s informally known as the “Land of Smiles.”
If beaches aren’t your thing, check out the country’s mountainous northern region, packed with hiking trails and national parks. Even a family of four could get by on just over $2,000, excluding rent, while a single person could manage on just over $600. Adding in rent isn’t a problem, as it runs 68.9% below the U.S. average.
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Turkey
Numbeo’s cost of living: 41.1% lower than the USA
If you’re looking for a little Eurasian flair, taking up residence in Turkey might be more to your liking. The rich history and culture of Turkey, not to mention breathtaking vistas in Istanbul and other cities, offer something a bit different than any of the other options on this list. Numbeo pegs the cost of living for a single person at just $671.30 per month, excluding rent, while a family of four could get by on $2,430.
Malaysia
Numbeo’s cost of living: 52% lower than the USA
Malaysia often gets overlooked in favor of its Southeast Asian counterparts, but the country offers an incredible standard of living for a price that’s even lower than its famed neighbor to the north, Thailand.
Unlike many other countries in the region, Malaysia boasts a multicultural heritage that may offer something different and appealing to American expats. Its modern infrastructure, affordable lifestyle and year-round warm climate may appeal to many. According to Numbeo, even a family of four could get by in Malaysia for less than $2,000, excluding rent — which is 78% lower than in the United States.
Panama
Numbeo’s cost of living: 50.1% lower than the USA
Panama has generated a lot of press in recent years as being a great place for American expats, and with good reason. Panama’s Pensionado program offers great discounts for retirees, while its breezy lifestyle of beaches and rainforests offers the slow pace of life many Americans are looking for, all within a short flight of the homeland. Those looking for a cheaper place to live will no doubt appreciate the fact that rent in the United States is 76.4% higher than in Panama.
Philippines
Numbeo’s cost of living: 54.6% lower than the USA
With beautiful beaches, friendly people and over 7,600 islands to explore, the Philippines is a dream vacation destination for many. But with a cost of living less than 50% of the United States, it’s also an amazing place to stretch a budget.
Numbeo estimates a single person could live there for as little as $566.70 per month, excluding rent, and even a family of four could manage on less than $2,000 without rent. But with rent prices a whopping 82.4% lower than the United States, even that added expense won’t break many budgets.
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This article originally appeared on GOBankingRates.com: 5 Countries Where You Can Easily Live Off Just $2,000 per Month
