Cheapest countries to live in if you are young and broke

Here is the rating of the cheapest and most exciting countries to live in

cheapest countries

Cheapest countries to live in if you are young and broke. Source:

Youth is a great period of freedom and countless opportunities. At the same time, it goes along with limited finances. Nevertheless, there are plenty of chances to travel the world even if you’re broke.

  • India. Monthly cost – $423*.
  • Tunisia. Monthly cost – $424.
  • Sri Lanka. Monthly cost – $428.
  • Kyrgyzstan. Monthly cost – $430.
  • Algeria. Monthly cost – $431.
  • Nepal. Monthly cost – $439.
  • Turkey. Monthly cost – $447.
  • Egypt. Monthly cost – $449.
  • Argentina. Monthly cost – $494.
  • Kiribati. Monthly cost – $511.

*(Source: World Population Review)


The cost of living in India is steadily rising, but is still much lower than in the US and many European countries. As you may expect, living costs are higher in large urban areas and lower in rural ones. However, rural areas lack basic infrastructure, banking services, etc.

There are numerous places popular among young people in India. Goa is famous for its party venues and beaches. Kerala has beautiful wildlife. Ladakh is the favourite destination for bikers and backpackers, while Rajasthan is home to the most fascinating historical places in India.

The monthly rent of a furnished one-bedroom apartment in the capital of New Delhi is approximately $245, though you might find offers as cheap as $155. Monthly the average utility bill is about $70. The price of a ready-made meal at a budget restaurant would cost you about $4. You can also save money by buying fresh products from street vendors (those would be cheaper than items in supermarkets) and cooking for yourself.


This country attracts many tourists both of its rich architecture and its low prices, being the most affordable destination in Africa. Tunisia is home to the most stunning beaches of the Mediterranean coast, great museums, and numerous entertainment centres.

You can rent a one-bedroom apartment here for $200 per month, while the average utility bill is about $50. A meal in a cheap restaurant will range between $2-4, and prices for food at the supermarket are very affordable, especially when it comes to vegetables and fruits. The monthly pass to public transport will cost about $10.

Sri Lanka

The cost of living in Sri Lanka is, on average, 70% lower than in the United States. It is unquestionably one of the most affordable destinations in Asia. At the same time, Sri Lanka is famous for its beautiful nature, rich biodiversity, tea plantations, and whale watching.

If you wish to rent an apartment in the city centre, this would cost you about $205. However, moving closer to the outskirts would cut the price in three. Basic utilities cost a little over $36 per month. Young people can also enjoy affordable meals for as little as $1.50.


Kyrgyzstan is an extremely affordable place to stay. Owing to the very struggling lifestyle of the majority of people living here, the prices of all basic necessities including clothing are not high. The country may not be the most popular destination among tourists, but it has gorgeous mountain scenery, historic places along the ancient Silk Road, and a unique blend of cultures.

The rent of a small apartment may cost between $170-262, depending on the location. The monthly price for basic utilities would be equal to $58. Eating out is as affordable as $4.80, while a fast-food meal can be bought for $3.60. A monthly public transportation pass is around $6.


In Mercer’s Cost of Living Survey for 2020, Algiers ranked 194th out of 209 cities. Mind that it’s the biggest city in Algeria, with the most expensive rent and prices. Total monthly expenses are even lower in smaller cities with around 130K population. The largest country in Africa, Algeria has a diverse landscape, beautiful architecture, and lots of travelling attractions. At the same time, not all the territories in the country are safe to live in. In particular, it’s advisable to stay away from the near-border areas.

The monthly rent in Algeria ranges from $95 to $146 for a one-bedroom apartment. Utilities will cost you another $76. Budget restaurants offer affordable meals at $2-3. A monthly travel pass is around $8.


The country of the highest mountains in the world has a lot to offer besides conquering Everest. It is the ideal destination for broad-minded individuals who value extreme, authentic and mesmerising experiences.

The cost of living in Nepal is, on average, 61.44% lower than in the US. The cost of rent for a small furnished apartment is between $218-340, depending on the region. However, utilities cost only about $37. The average meal ranges from $4 to $6.


Turkey is a popular holiday destination full of entertainment opportunities and historical sites. At the same time, it’s also advantageous for permanent residence, having one of the lowest cost of living in the world.

Monthly costs for utilities including the Internet are about $84. Rent takes around $137-237 per person. A tasty lunch at an inexpensive restaurant will cost you $3.20.


The cradle of ancient civilization is a nice place to stay. It’s not all historic treasures and tourist attractions here. There are many ways to spend time for the adventurous youth, who may enjoy diving, cruising, desert camping, and more.

Unlike many countries where you spend almost one-quarter of your monthly income on bills, Egypt is far more affordable. Monthly rent of a small studio is between $90-218. The regular utility bill in Cairo is about $54. Eating out costs around $4-5 per person.


Argentina is not only a fascinating, exciting, and incredibly huge country to visit, it’s also a wonderful country to live in. It has lots of recreational and cultural activities available. As for the financial situation, it’s pretty unstable. Thus, residents of Argentina are used to constant price changes and even have a built-in price adjustment in rental contracts.

At this time, living in Argentina is pretty cheap. The monthly rent is $155-211. Utilities including the Internet cost about $75. An average lunch price is $6, while a monthly travel pass costs $18.


The Republic of Kiribati comprises a few islands in the central Pacific Ocean. The state comprises 32 atolls and one raised coral island, Banaba. Those who wish to live in such an exotic place should be prepared for tidal waves, water shortages, possible dangers from climate change and storm events. The state also struggles with issues pertinent to developing nations like healthcare and malnutrition.

At the same time, a temporary stay here would be a life-changing experience for every European. Besides, the cost of living is on the cheap side. Rent takes $233 for one person. Transport expenses are a little over $20. Utilities cost $41, whereas on average, meals are between $8-22.


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