What is the cost of living abroad for an entire year? Today’s article reveals exactly how much I spent in 2018. Additionally, I’ll show you exactly what my budget is like and the quality of life it provides.
Ready?
Total cost of living in Vietnam? $23,000.
In America, that’s nothing. Spending 20 grand a year means you’re living on bread and water. But in Southeast Asia things are way different.
I’ll break down my budget and show you.
1. Housing And General Expenses
Your house, food, and utilities are always your biggest expenses. For most Americans, these three items (and maybe a car) account for over half their cost of living expenses.
Most Asian countries have great public transportation. You’ll find trains, subways, monorails, etc… Plus, it’s easy to get around with apps like Grab and Uber. This cuts your transportation costs to nothing.
Likewise, rent offers a ton of value. I spend between $300 and $1,2000 a month on housing (depending on the country), but get a lot with that money.
For $300 – $400 you can enjoy a one bedroom apartment in a nice part of Vietnam. For $500 – $700, you can get a great place in Thailand. And $1,000+ is luxury lodgings. You can get a penthouse or resort suite at this price.
In the USA, you’re lucky to find a decent apartment under $1,000.
Food is also cheap. A bowl of pho is $2 – $3. And a full meal in Thailand will cost you less than $5. Cooking at home also cuts costs, making it easy to enjoy a healthy diet for around $250 per month.
As far as utilities go, I’ve never had to pay for Internet. And my electric bills are rarely over $15 a month.
This isn’t penny-pinching or a frugal lifestyle either. You can do just about anything you want at this price range. It’s like living a nice middle class lifestyle.
So living in a big apartment and going out to eat every meal only costs about $1,800 a month. Not bad! Especially when you compare this to what most Westerners pay.
2. Savings And Investments
There’s an old saying which goes: “It’s not what you make, it’s what you keep.” This is 100% true.
I made enough to lease a Lamborghini or buy a Patek Philippe Nautilus.
Instead of blowing through this, I invested the money in dividend stocks, Crypto, and bonds.
The portfolio earns an extra $1,600 in annual dividend and coupon payments.
Business expenses are different from personal expenses, so they’re not included in today’s article. But I will tell you that there are many cheap (and sometimes free) ways to make money.
There are many business books worth studying, but I’ll give you a practical example right now: “Bank hacking.”
If you have a spare $1,000 – $2,000, look online for banks offering a sign-up bonus for new accounts. You’ll find deals like “$300 in cash when you deposit $1,000 or more.” Filling out the paperwork takes half an hour, and you’re several hundred dollars richer as a result.
Also, create passive income for yourself. Starting a website or publishing eBooks is a great way to build your second income stream.
Living within your means and buying revenue producing assets gives you complete financial freedom.
3. Dating And Entertainment
If you’re used to living in the West, $25,000 a year buys nothing but misery. You aren’t going out to eat, buying nice clothes, dating, or enjoying life.
In Asia I go out three times a week and visit a different country every other month.
Why? Because everything’s so cheap.
Case in point, travel.
Here’s my airfare from Vietnam to Korea:
Less than $150 round-trip, including baggage. And, Aisiana Airlines is a standard carrier, like Delta or United. So you’re getting good, reliable service.
Weekly entertainment is cheap too.
Going out on dates (nice ones too) costs less than $50. So you can line up three dates a week while spending very little.
I’ll show you.
Here are some common dates and their typical prices:
- Steak dinner for two – $50
- Walk around the park – free.
- Going out for coffee or tea – $5 to $8.
- Watching a movie at the mall – $10 to $15.
If you’re not drinking or hitting up clubs, just meet women on a site like VietnamCupid. Or, read a book like Models and go talk to women at coffee shops and malls.
Lastly, remember that your money is worth 2 – 3 times as much overseas. So spending $20,000 or $30,000 is like spending $40,000 to $90,000 in the States.
You’re getting a huge return on a very low-cost of living.
Final Thoughts On The Cost Of Living In Asia
Southeast Asia offers incredible value. It’s easy to enjoy a high standard of living at an insanely low-cost.
You’re getting an upper middle class Western lifestyle at bargain basement prices.
Additionally, the minuscule cost of living expenses make it easy to stack your money. It’s a perfect combination.