There are a number of cheapest ways to live and I myself would like to find out how. In this tremendous time all over the world.
Most people are looking for different unconventional ways to live the cheapest way possible. Many don’t have jobs or working in a different field unlike they used to.
Their earnings affect their ways of living and many are looking for the cheapest way to live in these trying times.
In This Guide
Cheapest ways to live
- Ditch the credit cards
- Budget
- Give up on vices
- Carpool
- Buy in bulk
- Switch to prepaid cell phone
- Move someplace with a lower cost of living
- Living minimally
- Having a Fee-free bank accounts
- Use Cash back apps
- Do side hustle for extra income
- Don’t eat out
- Walk
- Take the public transportation
Ditch the credit cards
I, myself, refrain from using credit cards as much as possible. Why? It makes you think that you have the money to buy things when actually you’re putting yourself into debt.
Sometimes you get overwhelmed and plunged into shopping even though you don’t need them because with just one swipe of your credit card you can have them all.
This is just putting you in a big hole of debt. Just buy what you need and what you can afford. If you badly want something, save for it.
Budget
Learn how to budget your money. One way is to prioritise what is needed rather than wanted.
When grocery shopping, bring a list with you, so that you don’t have to get unnecessary items.
Get what you need and leave so you will not get tempted to get other stuff.
Give up on vices
Stop smoking, drinking alcohol , gambling and other addictive vices will surely save you some money.
Cut back if you really can’t stop. These vices won’t do any good for your health. I know this is easier said than done.
But if you don’t want to change your life and continue with your vices, don’t expect a healthy and a happier future with your family.
Carpool
You’ll save a lot of money if you split the cost of gas with some coworkers – or even total strangers – who are travelling in the same direction as you.
Buy in Bulk
For anyone trying to save money, purchasing non-perishables in bulk is a no-brainer.
Of course, having the storage capacity to retain these stuff will be a requirement. Just make sure to list the necessary items to avoid overspending.
Sometimes seeing so much savings by buying in bulk may lead you to overspend. That’s why listing the basic needs are the priorities in buying bulk
Switch to Prepaid cell phone
It has been shown that we rarely use all of the minutes that we pay for. Furthermore, in an age when wifi is ubiquitous, we frequently don’t require all of the bandwidth we sign up for.
Switching to a prepaid mobile phone can save you thousands of dollars over time because of this.
This is something I realized a bit late in my life lol. Due to so much work I wasn’t aware that the wimple switching would bring so much savings.
Move somewhere with a lower cost of living
Moving somewhere with a cheaper cost of living, unsurprisingly, will make your money go a lot further.
Move to a state or country where you can still find joy in living. This may be hard for most of us.
Before making any decisions you can always write down the advantages and disadvantages of moving with a lower cost of living.
And when you are writing it down. You can always make it a point to write the things that will save you time and money.
Living minimally
Try to live a simple life. This entails a reduction in usual home costs,such as the purchase of new equipment or modern furnishings.
If you’re seeking the most cost effective way to live, living simply is perhaps the greatest option.
This may include buying in thrift stores and garage sales, online flea markets, etc. This is something that some people may not be proud of but once you realize that you can still be trendy/fashionista without breaking the budget.
Buying the latest phone may give you happiness for a while but it will cost you in the long run. Phones are made to last so use it till it lasts.
Fee-free Bank accounts
When there are so many fee free solutions available, no one should be paying fees to a bank. Look for a bank with the lowest minimum deposit.
There are many banks offering free accounts due to the pandemic. Yep this is amazingly true.
Take advantage of this and you may not feel the savings asap but you won’t be surprised with fees whenever you are using online banking, and such.
Use Cash Back apps
The first tip for anyone trying to cut food expenditures is to make sure they’re utilising a cash back program.
Saving money on goods you already buy is perfect because it needs no additional effort, which is why using a cash back app is one of the most convenient methods to save money.
You won’t realize this until you really are using it. There are many cashback apps nowadays and did you know that some of them would even let you invest on your spare change? Just Like Acorns.
This is such an awesome app. It gives bonus investments when you shop in your favorite brands. Not only did you save money but you also invested for your future. So cool!
Do side hassle for extra income
• Surveys
in exchange for money or gift cards. I’ve mentioned this countless times throughout my blogging. And, Although a lot of people don’t believe in this. This can still be a good source of extra income. It’s all about strategy. I even give out points and tips on how to make money with surveys.
• Online selling
find your niche and make money out of it. Don’t overthink. You can do this and make money within the day. It’s all about knowing which platform to use. What to sell and just start selling. Know the best mobile apps you can use or know the best companies you can sell stuff within your area.
• Freelance writing
is like story telling just putting them into writing.
Be creative. I love this because this is my own reality.
It doesn’t need any investment to start, especially if you love to express yourself in writing rather than talking. So you can start making extra to serious money with freelance writing.
• Virtual assistant
Make use of your computer or phone and your internet.
This is another popular way to make some extra cash without leaving your house. Yep a work from home assistant.
Especially if you have some knowledge with MS Office. This is something you may get paid for doing admin stuff at home.
• Games
there are a lot of play to earn games right now that you can try Thetan arena, Axie infinity etc
Don’t eat out
It’s hardly surprising to hear that eating out is going to cost a lot more than if you simply made your meals at home.
It would be much cheaper and healthier as well if you will prepare your own meals. How to avoid this? Uninstall your food delivery apps.
If you can. If you need them at work just make sure you only have one installed and only use it when it’s needed. Not using it whenever you are hungry.
This may be one of the hardest but if you do your groceries on a regular basis. This is not going to be that hard to do. Just always think of all the amount of money you can save.
Walk
Walking is also a less expensive choice. It’s not only free, but the health benefits may end up saving you money in the long term.
If it’s not too far then you might want to consider walking instead of taking your car or public transportation.
Plus there are even apps and companies like Healthy Wage that would pay you every time you walk or exercise
Take the Public Transportation
Taking public transportation is one of the best ways to save money.
You just pay the fare and just relax. You don’t have to worry about any repairs or maintenance of the vehicle.
No need to renew anything, insurance, registration etc.
In the long run you will find how convenient and less hassle taking public transportation is.
Lowest Housing Alternative
Become a Live-in Caretaker
Live in a Trailer Home
Become a Live-in Nanny
Live in an RV
Live with other people
Live as a Nomad
Live in a Storage Container
Airbnb Live-in Property Manager
Live in a Tiny House
Live with your parents
Live in a Duplex
Live in a Truck
Co-op Housing
Be a House Sitter
Rent a Guest House
Rent a Studio type Apartment
Live in a Fixer upper
Live on a boat
Become a Live-in Caretaker
There are a lot of elderly individuals in the United States, so you might make a terrific new buddy, and it’s probably one of the most cost effective ways to live.It requires a certain personality, as I’ve personally witnessed caregivers being mistreated by patients and their families.
However, if the patient wants it, it might be a cost effective way to live and a win-win situation. In exchange for taking care of a person, a caretaker is frequently provided with free lodging and meals.
Live in a Trailer home
Trailer homes are much cheaper than a traditional house. This is often called manufactured home. This kind of home is not usually appreciated in value and it’s all up to you how you want your trailer home to be.
Become a Live-in Nanny
Just like the caretaker, live-in Nanny usually attends mainly to the needs of the children they are going to take care of. Your day starts by waking them up for school, preparing their food, washing and prepping their clothes and sometimes if needed bringing them to school or other extra curricular activities.
A Live-in Nanny can be a 24 hour on call job or just like a 9-5 hour job, depending on your agreement with the employer. Some bring their Nanny’s with them when they go on vacation others will tell you to have the same vacation days with them.
Live in an RV
Rather than purchasing an RV solely for vacations, you may choose to live in it all year. The financial benefits of this option are obvious: an average RV will cost far less than a normal home. You also enjoy the flexibility that comes with having a mobile home, as you will be able to pick up and leave at any moment.
You can live an adventurous life on the road by living in a camper or trailer as long as you don’t mind the limited space and the necessity to locate somewhere to park each night.
Live with other people
Living with other people is a classic approach to reduce housing costs. You can cut your expenses just by having roommates or housemates, you can even save on foods and meals
Live as a Nomad
One alternative for the genuinely daring is to live without a home at all.
As a nomad, you’d be able to roam from place to place at any time, discovering new possibilities and meeting new people.
This is not for everyone, since most individuals believe that having a specific spot to call home provides them with comfort.
While living as a nomad may not be a long-term solution, doing so for a year or two can help you save money while also providing you with remarkable experiences.
Live in a Storage Container
This one may appear unusual at first, but it isn’t that dissimilar to the concept of a tiny house.
In this situation, the old storage container would serve as the foundation for your home.
You’ll almost certainly need to employ a contractor to assist you change the storage container into a space appropriate for living quarters unless you’re really skilled and experienced in construction work.
It’s crucial to consider where this storage container will sit once it’s ready to live in, just as it is with the tiny house concept.
Airbnb Live-in Property Manager
In exchange for living at the property, you can handle visitor communication and cleanliness. Get imaginative, because this is one of those low-cost living options.
Live in a Tiny House
These have grown extremely popular, and the prices are continuing to drop. I think they’re wonderful short-term solutions for people who don’t want to be saddled with a mortgage burden.
I’m constantly astonished at how they can design a tiny footprint home to optimize the amount of room available.
I don’t know anyone who hasn’t heard of tiny houses and a lot of people have been wanting to have their own tiny homes.
If you are serious about cutting costs this is a very good option.
Live with your parents
If you don’t mind people talking behind your back because you decide to live with your parents, then this is the cheapest way to live.
In some countries children live with their parents for as long as they want. Helping with household chores and bills is greatly appreciated for sure. While under your parents roof, this is the best time to save for the future.
Live in a Duplex
Buying a duplex is a wise financial decision in general. It’s not just a low-cost housing alternative, but it’s also financially sound.
Often, you may find a tenant on one side of the building who will pay your mortgage in full, allowing you to live for ‘free.
Because half of the property (in the case of a duplex) is classified as a rental property, you can deduct half of the expenses.
Live in a truck or a van
Living in a truck sounds crazy but once you purchase a truck/van all you need to do is a little tweak here and there.
No Homeowners association fee to think about and you could go anywhere you want at the comfort of your home.
Co-op Housing
Co-op housing is similar to condominiums, except that instead of buying an individual unit, you buy shares in the business.
Co-ops aren’t widespread everywhere, and selling one might be challenging. However, even after paying the monthly co-op fee, if you can pull together the means to buy one, you’ll likely save thousands of dollars yearly compared to renting.
Be a House sitter
I’ve always wanted to do something like this, but I’ve never been able to pull the trigger. Frequently, you will also be responsible for a household pet
You might be able to stay and house sit year round if you reside in a big city.If not, you may use housesitting to travel the world for free, save for the cost of transportation between jobs.
It’s a terrific way to live if you’re single and looking for an adventure while still saving money on rent.
Rent a Guest House
A guest house is available with several excellent residences. These are frequently underutilized.The owner will gladly rent it out for a little fee to help with their other expenditures.
Rent a studio type apartment
New apartment complexes in various cities come with a lot of features. Gyms, rooftop lounges, and other benefits are examples of
this.You don’t need as much space in your apartment if you live in a complex with good communal amenities
Live in a Fixer-upper
When you buy a fixer upper, you’re doing so with the goal of remodelling it. There will be several levels of this, so you must decide
how much effort you are willing to put forth (and money).
If you’re prepared to put in the effort, this could be a fantastic opportunity to get your ideal home for a much lower price.
Live on a boat
If you are an adventurous person and love sailing, you might like to live on a boat just like living in an RV. These are substantially less expensive to rent than standard single family residences.Try out a houseboat if you live near the water or would like to live near the water.
Although some houseboats are quite pricey, you can rent or buy one used.
Where is the nicest but cheapest place to live?
The nicest and cheapest place to live still depends on your lifestyle. I can name countless places but I say , one should live in a place where you will love staying there, not just because it’s cheap.
For me a nice place is where you can work or study, a place that you want to see when you wake up and before you sleep at night. A place where you feel secure. Know your priorities and pick one that suits you.
Within U.S.A
Huntsville, Alabama
For the fourth year in a row, Huntsville is the most affordable location to live in the United States, out of the 150 most populated
metro areas.
Huntsville inhabitants have a higher than average annual salary and a cheap cost of living, which means they have more money in their wallets to spend on other things.
Fort Wayne, Indiana
Fort Wayne, Indiana, is an ideal city to buy a house, establish a profession, start a business, and raise children because of its
inexpensive cost of living and peaceful neighbourhoods.
Residents in Fort Wayne, a midsize metropolis in the heart of the Midwest, have access to the amenities that one would expect to find in a large city, such as superb entertainment options and a thriving arts scene.
New Jersey
New Jersey is ranked as one of the highest quality public school systems.
With a bicycle and walking friendly atmosphere. Very accessible to public transportation and low crime rate.
Upstate New York
Less expensive than many other large US metro regions, making it a popular choice for families and seniors. Young professionals also like the area, both because of the low cost of living and because there is so much to do.
Cheapest Place to live Overseas
Costa Rica
One of the cheapest nations for Americans to live in, so you won’t go broke while living and working there.
Poland
If you want to work and live in one of Europe’s most affordable countries, Poland is another wonderful and reasonable alternative.
Peru
As one of the world’s cheapest countries, your dollar will go a lot further here than it would in other South American countries
Thailand
Even in big cities like Bangkok and Chiang Mai, living costs are extremely affordable. Beach resorts are significantly more expensive than other beach resorts across the world, yet they are still inexpensive.
What is the cheapest type of house to live in?
Storage container – turned into houses. Bear in mind that you need to add the cost of the land, taxes, transportation, taxes and other things you need to take care of .
Fixer Upper – is another type that you might want to consider. With this type you would be able to do repairs whenever you have the time and money to spend on the house.
How to build a low budget house?
Build a smaller version of your Dream House
They are less expensive to construct and can be built on wheels for those who may choose to relocate in the future.
Have you seen Tiny house nation? Watching this will give you an idea how a dream house can be done in small spaces, and would also let you feel it’s okay and amazing to live in a tiny dream house.
Simple Design
Designing a simple box is the cheapest way to construct a dwelling. Sticking to a square or rectangle simplifies construction and design.
I noticed how minimalist designs are becoming more and more popular these days. It’s not always about the design but it’s also how people are saving a lot with unique, expensive-looking minimalist interior designs.
Have your plans Approved
Before you start building, it’s critical to get your plans authorised early in the planning process.
Furthermore, if you begin construction without first obtaining approval from your city or county, you risk incurring a substantial
punishment (or worse, having to redo some of your already completed work).
Be smart in choosing your Building materials
Selecting cost-effective materials might assist in keeping the project under budget. There is no harm in asking for discount from
your supplier when purchasing a large quantity.
Do as much as you can
If there are things that you can do yourself, do it. Rather than pay people for something you could do.
Stick to your Budget
Know as much as you can the prices and labour costs. It would be harder to get caught off guard and you don’t know where to get the money for all of the expenses.
Hire an experienced builder
An experienced builder can assist you in determining where you should spend and where you should conserve. They’ll almost certainly come up with innovative ways to save money. They can also assist you avoid problems before they happen because they’ve probably dealt with a lot of them in their job.
Look for a reputable contractor
Many experienced builders will know which materials are the best and most lasting to use, and some may even be able to obtain you
discounts on particular materials thanks to their supplier links.
To achieve an effective development, contractors should also be knowledgeable about the safety and legal standards of building in your area.
Where can I live for $500 a month?
There are many options you could choose from.
• Rent a room
• Rent a studio apartment
• Rent a basement or attic
• Move to a low cost of living state or
country
• Live with your parents
Final Thoughts:
If you’re willing to look outside the box, there are many ways to cut your housing expenditures. People should distinguish what they need is different from what they want. The whole world is greatly affected by this pandemic and most are struggling to live.
The cheapest way to live will be different for everyone, but if you’re prepared to compromise and do some study, you can find the best one that fits your lifestyle.
