While people are struggling to make ends meet as the cost of living steadily rises in the UK, a life of luxury is achievable in foreign climes at a snip of the price.
New research from InternationalLiving.com listed the top five places where they believe retired couples can live comfortably on a budget – if they are willing to look overseas.
Everyday utilities including gas, electricity, water, phone, cable TV and Internet will set retirees back just £134 per month in Mexico, according to the study.
And because goods and services cost less there, luxuries that are normally the reserve of the very wealthy are affordable for those on a budget coming in from overseas.
“Everyone seems to agree: the quality of your life improves in Mexico”, said the company.
The research found that the low cost of a comfortable living in Ecuador, which stands at an average of £867 a month, provides retirees with a better quality of life.
Retirees are more likely to increase their travel and take up new hobbies – and own multiple properties.
“Many foreign residents have their main homes in the city, and also have a country home, a beach property, or even property in another country – something that would be impossible on a comparable budget in the US,” stated InternationalLiving.
Malaysia is also a good bet for those looking for a life of luxury on a budget. According to the research, a couple could live easily on just over £612 a month, but could live like kings with £1,227 per month.
Just £6 could buy a meal out for two and an entire bagful of fresh fruit including mangos, bananas, apples, oranges and pineapples costs just £2.50.
It goes without saying that moving overseas in a bid to make your money go further isn’t an option for everyone.
If you are having difficulties covering essential expenditure such as bills, unsecured loans with no credit check can help tide you over. It is advisable to budget before resorting to borrowing, and such loans should be repaid quickly.