Working and living abroad are great ways to make your money go further. With 4.85m people in the UK now self-employed, perhaps a move to one of these countries, where the cost of living is cheaper than the UK, should be on the cards…
Freelancing remotely is now becoming increasingly popular, but the cost of living can vary hugely depending on where you live.
If you don’t need to be in the office, working abroad can make your money go further than it does in the UK, where the average cost of living is £1,716.61 per month, according to online freelance marketplace PeoplePerHour (PPH).
A new report by PPH ranks 33 of the most popular countries for UK expats by the average cost of living, taking into account expenses such as groceries, dining out, utilities, rent and broadband.
The Founder and CEO of PPH, Xenios Thrasyvoulou, says: “The cost of living in the UK has been incrementally rising during the last few years and, with inflation making real-term wages fall for the third year in a row, people are constantly looking for ways to make their money go further.
“While the average British salary crept up by 4.25% between 2010 and 2015, the freelancer rates rose 26.83% in the same period, putting freelance hourly rates 36% above those of their employed counterparts.”
Are you tempted to start working abroad in order to make your money go further? Here are the nine most affordable countries and their average cost of living per month:
9. Brazil – £954.05
8. Thailand – £943.59
7. China – £925.38
6. Russia – £882.22
5. Vietnam – £842.55
4. Malaysia – £690.49
3. Mexico – £669.44
2. Philippines – £629.96
1. India – £523.04
If you do move abroad, we offer market-leading Expat Property Insurance to protect your new home overseas. You can get an instant online quote here.