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This Map Shows the Most Expensive and Cheapest Countries to Live in the World

This Map Shows the Most Expensive and Cheapest Countries to Live in the World

When I sat down to write this, I was absolutely shocked to find out that America doesn’t even crack the top 20 on the list of most expensive countries to live in. However, the data pulled from Numbeo by Movehub directly compares the cost of living in countries around the world to the cost of living in New York City, and the results show that there are only five countries in the world which are more expensive to live in than the Big Apple.

5 Most Expensive Countries

Switzerland

Compared to NYC, Switzerland is 26% more expensive to live in overall. The data shows that restaurants and hotels are not cheap, so if you’re visiting you might end up breaking the bank. If you live there, however, you’ll find you get paid more to accommodate for increased expenses.

Norway

Norway is about 18% more expensive than NYC, again with restaurants being a pricey form of leisure. Personal goods and services also lean toward the expensive side, as does the cost of gasoline.

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Venezuela

Venezuela is roughly 10% more expensive to live in than New York. Groceries are a major expense in Venezuela, as they are an incredible 31% more expensive than in NY. If you’ve ever shopped in NY, you’re probably having heart palpitations right about now.

Iceland

My friend visited Iceland and said it wasn’t that bad; but he lives in New York City. Iceland is pretty much on par with NYC as far as expenses go. Of course, he backpacked, slept in hostels, and packed his own clothing. The price of gas and clothing makes up the most expensive commodities in Iceland, as do unnecessary additions like cigarettes and alcohol.

Denmark

Denmark is about as close to NYC as can be in terms of expenses. Restaurants, clothing, and public transportation are the highest expenses in Denmark, which sounds remarkably familiar if you’ve ever been on 5th Avenue in Manhattan.

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5 Least Expensive Countries

The least expensive countries all offer extremely cheap dining, groceries, transportation, and rent. In order from most expensive to cheapest, they are:

Algeria

Commodities in Algeria cost an average of 66% less than in New York, which makes me want to take a trip over there and come back with a lifetime supply of couscous. It also wouldn’t hurt to soak up the culture, see some ancient ruins, and visit the Tassili n’Ajjer

Tunisia

The same goes for Tunisia. More couscous! Just kidding, there’s much more to do there, such as visit the Sahara, followed by a Turkish bath to cleanse afterwards.

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Pakistan

The amount of museums and monuments in Pakistan is incredible; it’s an open world of discovery and beauty. There’s also natural beauty in the lakes, as well as the K2 summit.

Nepal

It’s incredibly disheartening to know of the devastation that recently occurred in Nepal in April 2015, so let’s just take this time to hope for better things to come. You can find beautiful Mount Everest there, as well as a variety of temples and sacred monuments.

India

It costs about 25% of what it costs in NYC to live in India. Of course, you can check out the Taj Mahal and the Ganges River, but there are a ton of beaches and rivers to check out as well.

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    Featured photo credit: Pixabay via pixabay.com

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    Last Updated on January 21, 2020

    How to Develop a Millionaire Mindset in 6 Simple Steps

    How to Develop a Millionaire Mindset in 6 Simple Steps

    We all like to dream about being financially wealthy. For most people though, it remains a dream and nothing more. Why is that?

    It’s because most people don’t set their mind to achieving that goal. They might not be happy in their current situation but they’re comfortable – and comfort is one of the biggest enemies of growth.

    How do you go about developing that millionaire mindset? By following these simple steps:

    1. Focus On What You Want – And Take It!

    So many people are too timid to admit they want something and go for it. When there is something that you want to accomplish don’t think “I could never actually do that”, think “I could do that and I WILL do that”.

    Millionaires play to win, not to avoid defeat.

    This doesn’t mean to have to become a selfish jerk. What it means is becoming more assertive and honest with yourself. You don’t have to grab off other people. There is a big pot of unclaimed gold in the middle of the table — why shouldn’t you be the one to claim it? You deserve it!

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    2. Become Goal-Orientated

    It’s almost impossible to achieve anything if you don’t set firm goals. Only lottery winners become millionaires overnight. By setting yourself attainable goals, you will get there eventually. Don’t try to get rich quickly — get rich slowly.

    Let’s take the idea of making your first million dollars and expand on what kind of goals you might set to get there. Let’s also say you’re starting at a break-even position – you’re making enough to get by with a few luxuries, but nothing more.

    Your goal for the first year can be having $10,000 in the bank within a year. It won’t be easy but it is doable. Next, you need to figure out the steps you need to take to achieve that goal.

    Always look at ways to make growth before cutbacks. With that in mind, you might want to see if you can negotiate a pay rise with your boss, or if there’s another job out there that will pay better. You might be comfortable in your old job but remember, comfort stunts growth.

    You may also have other skills outside of your workplace that you can monetize to boost your bank balance. Maybe you can design websites for people, at a fee of course, or make alterations to clothes.

    If this is still not enough to make the money you need to save $10,000 in a year, then it’s time to look at cutbacks. Do you have a bunch of old junk that someone else might love? Sell it! Do you really need to spend $10 on your lunch everyday when you could make your own for a fraction of the cost?

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    If you are to become a millionaire, you need to start accumulating money.

    Here’re some tips to help you: How to Become Goal Oriented and Achieve More in Life

    3. Don’t Spend Your Money – Invest It

    The reason you need to accumulate money is for step three. Millionaires tend to be frugal people, and that’s because they know the true value of money is in investing. Being your own boss goes hand-in-hand with becoming a millionaire. You’ll want to quit your regular job at some point.

    Stop working for your money and make your money work for you.

    Rather than buying yourself a new iPad, that $500 could be used to invest in the stock market. Find the right shares (more on that later), and that money could easily double within a year.

    There’s not just the stock market — there’s also property, and your own education.

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    4. Never Stop Learning

    The best thing you can invest in is yourself.

    Once most people leave the education system, they think their learning days are over. Well theirs might be, but yours shouldn’t be. Successful people continually learn and adapt.

    Billionaire Warren Buffet estimates that he read at least 100 books on investing before he turned twenty. Most people never read another book after they’ve left school. Who would you rather be?

    Learn everything you can about how economics works, how the stocks markets work, how they trend.

    Learn new skills. If you have an interest in it, learn everything you can about it. You’d be surprised at how often, seemingly useless skills, can become extremely useful in the right situation.

    Start developing the habit of learning continuously: How to Create a Habit of Continuous Learning for a Better You

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    5. Think Big

    While I advise to start off with small goals, you absolutely should have a big goal in mind. If you have a business idea, then that is your ultimate goal – to start that business and make a success of it. If you want to invest your way to millions of dollars and do little work other than research, then that is your big goal.

    There is no shame in not achieving a big goal. If you run a business and aim to make $1 million profit in a year and “only” make $200,000, then you’re still significantly ahead of most people.

    Aim for the stars, if you fail you’ll still be over the moon.

    6. Enjoy the Attention

    To be successful, you have to be willing to promote yourself and enjoy the attention to a certain extent. Now the attention doesn’t need to be on yourself, it could be on your brand, but attention definitely attracts money.

    Never be embarrassed to get your name out there. That means finding a spotlight and being brave enough to step right up underneath it.

    If you run a business, try contacting the local papers. You’d be surprised at how amenable they often are to running a story about you and your business, and it’s all free publicity.

    Above all, remember: You control your own destiny. Push hard enough for anything and you’ll get it.

    More About Thinking Smart

    Featured photo credit: Austin Distel via unsplash.com

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