One of the best ways to reduce your cost of living and save money is to move to a cheaper country. There are many places where it is possible to live on just $1000-$1500 per month. In this guide, I’ll outline 22 of the cheapest places to live in the world. I’ll cover the cost of rent, food, transportation, entertainment, and more. I’ll also list some pros and cons of each destination and outline the visa situation.
It’s important to note that it is becoming harder and harder to live on $1000 per month. Many countries around the world have experienced significant inflation over the past few years. $1000 doesn’t go as far as it used to.
It’s still possible to live on $1000 per month in most of the countries on this list but not all. Also, in order to achieve this budget, you may have to give up some comforts or live outside of a major city. You will have to cook your own meals and rely on public transport. If you have $1500 per month, many more options open up.
Table of Contents
Vietnam
- Monthly cost of living: $800-$1200
- Rent: $250-$500
- Internet speed: Fast (100 Mbps)
- Climate: Tropical
- Region: Southeast Asia
- Population: 100 million
Vietnam is becoming an increasingly popular destination among expats, retirees, and digital nomads due to its extremely low cost of living. The country has great food, a unique culture, and interesting history as well. A few of the best places to live in Vietnam include Ho Chi Minh City, Hanoi, Da Lat, Can Tho, Nha Trang, Hoi An, and Hue.
Cost of Living in Vietnam
Vietnam is one of the cheapest places in the world to live. On average, expats spend around $800-$1200 per month. It’s possible to get by on as little as $500-$700 per month if you live outside the city center and cook your own meals. For a more luxurious lifestyle, you might spend $1500-$2000 per month. This budget would allow you to take private transport and eat at restaurants daily.
When it comes to rent, it’s possible to find a nice one-bedroom apartment in Ho Chi Minh City for around $500. Outside major cities, the cost of rent can drop significantly. It’s possible to rent a comfortable apartment for under $250 per month in most second-tier cities such as Da Lat. If you’re on an extremely tight budget, you could find a roommate and rent a room for as little as $150 per month. Utilities might cost another $25-50 per month.
Food is also incredibly affordable. You can enjoy a bowl of Pho or fresh fruit for just a couple of dollars. It’s easy to eat for less than $10 per day or $300 per month. If you cook some of your own meals, you could eat well for less than $200 per month.
When it comes to transportation, Vietnam has buses and motorcycle taxis. There are also ride-sharing services like Grab. Getting around is affordable. Many expats rent a motorcycle for around around $50 per month. If you’re staying long term, you can also buy your own motorcycle for a few hundred dollars.
Entertainment is also affordable. A night out at a mid-range restaurant followed by a movie might cost around $20-$30.
The Visa Situation
Vietnam recently introduced a 3 month visa that you can apply for online. This is great for digital nomads who only want to stay short term.
Staying long term in Vietnam can be difficult. It is possible to extend your visa for 6 months or 1 year. It is also possible to apply for temporary residency.
Pros of Living in Vietnam
The cost of living is possibly the lowest in the world. The Vietnamese are hospitable people. Vietnam also has a diverse geography. There are beautiful pristine beaches and rugged mountains. The location is also convenient in Southeast Asia. It’e easy to explore neighboring countries like Cambodia, Thailand, Laos, and Malaysia.
Cons of Living in Vietnam
The traffic in major cities, can be chaotic. Simply crossing the street can be a challenge when you’re new to Vietnam. The language barrier can be a challenge in smaller cities. In large cities, many people speak at least basic English. The tropical climate can be a challenge as well. It can get extremely hot and humid during the rainy season.
Thailand
- Monthly cost of living: $1200-$1500
- Rent: $250-$800
- Internet speed: Fast (100 Mbps+)
- Climate: Tropical
- Region: Southeast Asia
- Population: 71 million
