I’m About To Move To Another Country, But I Will Avoid Living In Low-Cost Living Areas

A low cost of living is bad for your finances.

Photo by Coleman Glover on Unsplash

I am going to run my business outside my home country.

Before talking about this country, let’s take a look at this Reddit user’s experience of living in a town with a low cost of living.

Screenshot made by the author

Single solo dad here with no financial support from the other parent.

I work a good job that provides a comfortable living. Part of the problem is that it’s far away from family and adult friends are hard to make at my age.

Resources around here are scarce due to it being a small rural area. The good part is that cost of living is low here and I have a stable job with good benefits.

I know there are a lot of opportunities out there but I’ve got so many responsibilities as a single working parent that it’s hard to pursue other opportunities for self improvement, further education or side work to try and get further ahead.

As a single parent I feel guilty I’m not spending more time with my kids and am unable to do more for them.

I’d like to say I can retire early and be financially independent and not have to worry about the rat race or daily grind. I don’t really want to work myself, unable to enjoy life till I’m on my death bed.

I contribute 15% to the Roth 401k. Most years I also max out my Roth IRA account. I enjoy playing with various index funds and watching it gain dividends and grow.

I contribute to my kids 529 plans so there will be a little money for them and their future for higher education after high school.

We are fairly healthy and I’ve been thinking about dropping full coverage insurance and going to a high decidable health insurance policy.

I’ve thought about contributing money for the HSA and taking advantage of that. I contribute the full $5k every year and reimburse myself child care expenses from a dependent care account.

I also I bought a house last July and I’ve been sinking money into it to make it nice for us to live in with some updates doing DIY projects.

Sometimes I wonder if putting money into my home is the best use of my money. I have also considered talking to the bank about setting up a biweekly payment to help pay more on the mortgage.

With so many responsibilities and making these sacrifices is sometimes stressful. Where do you find balance? What are you doing to achieve financial independence? Are you alone in your journey?

Text excerpted on Reddit.

Moving to a country where your life happens close to your workplace or living a little further away?

Countless people ask themselves this question. Especially people who are moving to another country to live for a while.

Because the question of where you live is often not only a matter of personal preference but also of how much you earn.