For a broke millennial it’s tough out there. From extortionate rent prices, high cost of living and never-ending student loans, who needs expensive cities that will break the bank like London or LA? More people than ever are relocating to cheaper locations where they can enjoy a work-life balance and put some savings in the bank. Check out this list of affordable cities around the world from the guys at My Baggage, who knows which one you may be calling home in 2020!
Mexico City, Mexico
The capital city of Mexico, locally known as CDMX, isn’t somewhere that would jump to mind. Once associated with cartels and kidnapping, the city has improved security and safety in recent years. It is a bustling tech hub, with a vibrant culture and night scene. There are plenty of art galleries, fine eateries and it was once home to the iconic Frida Kahlo. With the average cost of rent being only £200, cheap public transport and low-cost eateries, your money will go far in CDMX. Jobs for ex-pats include in industry or as a TEFL teacher. So, brush up on your Spanish and get ready to enjoy some of the best tequila you’ve ever tasted!
Chicago, USA
You would expect the windy city to have a high cost of living, but it is rather affordable! With an average monthly income of $4,000 and average rent being $1,000 you have plenty of money left over to play with. There are plenty of jobs in the technology industry and lots of sights to see, from the banks of Lake Michigan to check out Navy Pier and the many museums that call this city home. If you want to live in an urban American city like NYC or LA but without the price tag, then this is the spot.
Toronto, Canada
Toronto has been voted one of the most liveable cities in the world and it’s not just because of the friendly charm of the locals. It offers value for money along with a dynamic city lifestyle, but there are also plenty of places to escape to nature. A short ferry ride away from the CNN Tower in Toronto Islands, where you can leave the city behind, enjoy a cycle or a picnic or kick back on the beach. The work-life balance here has it right. There are plenty of jobs in IT and a growing start-up scene. With average monthly wage being $2,600 Canadian Dollars and rent costing on average $1,000 for one bed, you’ll still have enough money to eat out, enjoy a Blue Jays game or put in the savings account.
Lisbon, Portugal
Lisbon offers old town beauty with a buzzing lifestyle. Set on the coast with guaranteed sunshine in summer and beaches at hand, it is the perfect place to enjoy a more relaxed pace of life. There is a growing start-up and tech industry here, which is ideal for millennials and the city offers opportunities even if you cannot speak Portuguese. The cost of living is rated 20% lower than that of the cost of Liverpool and the city is becoming increasingly popular with remote workers.
Prague, Czech Republic
Prague is home to a large ex-pat community who have long seen the benefits of this historic city. The capital of the Czech Republic boasts a quaint old town, gothic churches, a medieval astronomy clock and a world-famous Christmas market. With many job opportunities in the tech industry and as an English language teacher, you can live comfortably here. The average monthly salary is with rent costing £400 for one bed. The low cost of food, transport and amenities means that you will have plenty of money left over to enjoy everything the city has to offer!
Melbourne, Australia
Arguably one of the best cities in Australia. Move to Melbourne and enjoy a laid-back lifestyle! With the beach on your doorstep and a buzzing nightlife, Melbourne is a city for millennials. There are plenty of job opportunities to suit all tastes and experiences. Boasting accessible healthcare and exceptional 4-week holiday allocation, the Aussies know the important work-life balance. The average salary is £2,400 a month, with rent being £725. This leaves you plenty of money to treat yourself to a week in Bali!
Madrid, Spain
Spain’s capital offers a surprisingly cheaper cost of living to that of Barcelona. Although language skills will more likely be needed to gain a professional job, there is scope for English language teachers or those wanting to work remotely. The city has plenty of museums, jazz bars, bustling outdoor markets and fine architecture to enjoy. And you will have plenty of leftover cash to enjoy mojitos and papas bravas, with the average wage being £1,400 and cost of a one-bedroom apartment at £513.
Chiang Mai, Thailand
Bangkok is often the city where ex-pats flock to, but Thailand’s bustling capital city isn’t for everyone. The pollution, the heat and the throngs of people make it a stifling city to live in and that is why Chiang Mai, is fast becoming the more popular option. The city in the north of the country offers a quieter pace of life. There is still plenty to see and do, but with less pollution and crowds it is more appealing. It is a popular alternative to Bali, for any remote workers looking for a cheap base in South East Asia to call home.
Mumbai, India
If you are after a completely different city experience, then there’s no one else in the world like Mumbai. Home to over 18 million people, this city can often feel like its own country! There is plenty to see and do here and the city streets never sleep. Jobs are available in the tourism industry or the tech industry. Cost of living is very low, with an average monthly wage of £622 and a one-bedroom apartment setting you back £215 a month.
Warsaw, Poland
Poland’s capital offers a low-cost lifestyle without compromise. The city has jobs in the tech industry and offers ex-pats a relaxed way of life, without the high living costs of other western cities. You can expect your average monthly income to be £800 and with rent being on average only £350, you’ll have plenty left over to play with.
Alternative – Teaching English in China
Although not a relocation to a city, if you want to make lots of money fast and live relatively well off in a new and interesting country, then maybe teaching English in China is for you. With average salaries going up to £2,000 a month and accommodation often being included without a cost, you can live handsomely in China, all whilst saving a grand sum. It is also the perfect base to explore Asia, so after you finish the teaching year, you will have plenty of holiday options to choose from. Please note, that to be able to qualify as a TEFL teacher you will need to have a degree, be a native English speaker and have a TEFL certificate.