Are you a passionate adventurer or entrepreneur? Do you seek to bring your dreams to reality? The US and Europe are lands of opportunity. People all over the world head to these countries in search of their big breaks. But doing this takes effort, time, and expense. If you are among those who are searching for a fresh start, you will want to know where the cheapest places to live are.
How to live simply and cheap?
The modern world has many trappings, some of which have become necessities. The cell phone is an excellent example of this. As ironic as this sounds, they make a simple life difficult.
Before listing the cheapest places in the US and Europe, you might want some suggestions on living a frugal lifestyle. Following them will reduce your expenses, wherever you live.
1. Use a basic mobile phone
First of all, you will need a cell phone, much as you may dislike its negative influence on you and your kids. Payphones have all but vanished, so we need cell phones to make emergency calls. Choose a phone with just essential functions. If you’re not the sort who needs to use applications, you can do this for less than $50.
2. Ditch cable TV
Also, many people spend money on cable television because it gives them 500 different options. You’re not going to be able to watch all of them. You may choose to use a streaming service instead. You will never miss your favorite shows.
3. Don’t use credit cards
Credit cards are a quick fix payment solution. They allow you to purchase expensive items and pay for them over time. While these cards offer flexibility, they often tempt users to buy what they cannot afford. Instead of using them, make it a point to buy within your budget. The pain of bills will soon disappear.
Get rid of items in the home that you seldom use. De-cluttering frees up both physical and mental space. You may even make some money by selling unnecessary items. Use the cash four essential projects.
5. Track your expenses
You may go on buying sprees and forget that you already have a substantial credit card bill. Keep track of your costs because you may discover those that are unnecessary.
6. Live in an owner-financed house
Another way to live frugally is to do so in an owner-financed house. This option is little-known but viable if your financial situation isn’t consistent.
As the name suggests, the owner of the home lends the buyer money to make the purchase. As with all financing, there are promissory notes with monthly mortgages, interest rates and consequences of defaulting on payments. Financing arrangements are usually for a short term.
So, how does it help you live less expensively? Loan arrangements are flexible. A buyer can negotiate with a seller on the terms of repayment.
10 Cheapest Places to Live in the US and Europe
A modern lifestyle needn’t be expensive. The below locations in the United States and Europe are some of the cheapest, and the cost-friendliness of these places makes it easy for you to live a good life and realize your dreams.
1. The Cheapest Places to Live in the United States
a. Memphis, Tennessee
Memphis has the distinction of being the home of the King of Rock and Roll, Elvis. Despite being the nation’s music center, it isn’t as expensive to live here as you’d think. The city has affordable housing at average prices of $140000, and gas prices are low at $2.40 per gallon. The cost of living index is low at 74.
b. Indianapolis, Indiana
Indianapolis isn’t as glamorous as Memphis, but it is a Transportation Hub. It’s easy to commute to work, so transport expenses are low. Despite this, it’s a tech-friendly city. Software entrepreneurs converge here because of the affordability. Home sale prices are at an average of $144000, at the city’s cost of living index stands at 90.
c. Omaha, Nebraska
Omaha has the honor of being the home of business magnate Warren Buffet, so you may expect it to be a costly place to live. However, it’s far from being a flashy city. Its affordability makes it one of the best places to raise a family.
Buffet’s small, ranch-style house is a testament to its cost- friendliness. The average sale prices of homes stand at $ $175,000, and a monthly transit pass cost $55. Omaha’s Cost of Living index is at a low 88.
d. Columbus, Ohio
Columbus has an educated population and a vibrant economy. The home to Ohio State University, one of the United State’s leading academic institutions of higher learning, it has relatively affordable metropolitan areas. Home sale prices are low at $159500, while the cost of living index is just 84.
e. Birmingham, Alabama
Birmingham is a centre for the steel industry. Staying in the metropolitan area of this city is costlier than in the valley. That said, houses are still more affordable than on the West Coast. Prices for almost everything are low. The cost of living index stands at 73.
The Cheapest Places to Live in Europe
a. Barcelona, Spain
Like the rest of Spain, Barcelona has Mediterranean charm. It’s the 7th most populous urban area in the European Union, attracting scores of professionals. It is the largest city in Catalonia; it is a financial and administrative center. Living expenses are lower than wages, which makes it one of the best places in Europe to stay.
b. Tallinn, Estonia
Tallinn is the educational, financial and political capital of Estonia. It’s also the birthplace of many famous companies, including Skype. It is to be the home of the European Union’s IT agency. Though it one of the top 10 digital cities in the world, it isn’t expensive to live here, considering its status. Also, wages are rising.
c. Porto, Portugal
Porto in Portugal is a metropolis on the Iberian Peninsula. It is one of Europe’s most renowned historical centers. The city is best known for its top export, Port Wine. The Best European Destination agency ranked it one of the best places to be, and professionals agree. Costs are about 70% cheaper than in New York City.
d. Tartu, Estonia
This city is Estonia’s second-largest and is its intellectual capital. Hence, it attracts academics. It’s home to Estonia’s oldest university, the University of Tartu. It’s also the birthplace of the Estonian Song Festival, so it’s an excellent place for a musician who wants to realise their dreams.
e. Thessaloniki, Greece
This city is by the sea and is a Transportation Hub. Thessaloniki is also a commercial and industrial center. It’s easy to commute here and is one of the best places in Greece to find jobs. The city, therefore, attracts many professionals. It is also one of the best places in Europe for street photography. Despite having a vibrant culture, it is relatively cost-friendly.
In all, cheap doesn’t equal dull,and many of the above locations in the US and Europe boast vibrant cultures and are abuzz with activity, which means that you can become a success and live a good life in these places.