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What To Do With $30/Day? Visit These 30 Exotic And Cheap Cities Around The World

What To Do With $30/Day? Visit These 30 Exotic And Cheap Cities Around The World

Traveling to exotic places around the world doesn’t have to be something that costs hundreds of dollars everyday. Using a great tool called the “daily backpacker index” from priceoftravel.com, I found thirty cities that you can explore for less than thirty dollars per day!

These cities are all across the globe and are some of the coolest places to visit. So now that my work is done, it’s up to you, which one will you be traveling to first?

1. Pokhara, Nepal: $14.32/Day

    Flickr/Christophe

    This super cheap city is the tourist capital of Nepal. Pokhara is known for its treks, one of the most famous being Annapurna. You should only expect to pay a few dollars for every meal and beers can be found for less than two dollars!

    2. Kiev, Ukraine: $16.73/Day

    Kiev, Ukraine

      Flickr/Irisha

      This city is cheap compared to many other European cities which can cost upwards of seventy dollars per day. They struggle for tourists in this area of Europe since it’s off the main course that many travelers take. You can find attractions for less than a dollar per person.

      3. Phnom Penh, Cambodia: $21.95/Day

      Phnom Penh, Cambodia

        Flickr/Peter Collins

        This SE Asian city is the perfect place for anyone looking to travel on the cheap. Food is only a few dollars and things like bottled water can be found for only fifty cents. It would be a struggle to spend a lot of money here.

        4. Bangkok, Thailand: $22.33/Day

        Bangkok Canal

          Flickr/Eric Magnuson

          Things like attractions and even airfare can be found around here for cheap. The prices of attractions vary, but many temples cost less than two dollars. If you feel like going all out, you only have to pay fifteen dollars and you can visit the Grand Palace.

          5. La Paz, Bolivia: $22.24/Day

          La Paz, Bolivia

            Flickr/Ben Cumming

            The high towering city sits between 10,000 to 13,300 feet above sea level depending on the area. You can find transportation for as little as a few dimes depending on what kind you take. Taxi’s are a bit more expensive, so I suggest taking public transportation when possible, but even then the prices are not staggering.

            6. Chiang Mai, Thailand: $18.10/Day

            Kalare Night Bazaar - Chiang Mai, Thailand

              Flickr/AG Gilmore

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              The second largest city in Thailand boasts many free attractions and extremely cheap three-star hotel rooms. Transportation is only a few dollars per trip and beer can be found for less than a dollar.

              7. Cusco, Peru: $26.93/Day

              Cusco, Perú

                Flickr/Gustavo Vargas

                A very common tourist destination due to Machu Picchu, it’s also quite cheap. There are a few more expensive parts to the area like flights to Cusco as well as the train from Ollantaytambo to Machu Pichu, which can cost over a hundred dollars.

                8. Quito, Ecuador: $22.30/Day

                Quito-Ecuador

                  Flickr/Christian Cadena

                  The city has hostels and hotel rooms for very little as well as food. Many of their main attractions are free as well. It’s safe to say that a day exploring this city isn’t going to even come close to breaking the bank.

                  9. Vientiane, Laos: $21.32/Day

                  Pha That Luang, Vientiane, Laos I

                    Flickr/Samnang Danou

                    This city is known for being very modern, one of their attractions for example is a large water park that opened in 2008. You can find attractions that only cost a few dimes and you can find rice whiskey and beer for just over a dollar.

                    10. Manila, Philippines: $25.52/Day

                    Manila City View

                      Flickr/Joe Forjette

                      It’s easy to find free things to do in the massive city as well as transportation that can easily be found for less than a dollar. The hotels range in price from being very inexpensive to being very expensive.

                      11. Kathmandu, Nepal: $18.45/Day

                      Kathmandu Valley Sunset

                        Flickr/Mike Behnken

                        Depending on how picky you are, you can find some of the cheapest hostels and hotels on the planet, but they can come in pretty shady conditions. You only have to pay a little extra though to get something that is comfortable. Kathmandu is also less than one hundred miles away from Mt. Everest if you would like to see the giant.

                        12. Bali, Indonesia $27.66/Day
                        Bali, Indonesia

                          Flickr/Armando Torrealba

                          Home to Kuta, which is one of the best places to find travel deals, you can relax on the beach all day. They are known for their awesome nightlife and for surfing. You can rent out a surfboard for between two and seven dollars.

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                          13. Phuket, Thailand: $26.75/Day

                          Phuket, Thailand

                            Flickr/Jeremy Jones

                            Known for its excellent beaches, Phuket is an island that is in the southern part of Thailand. You can find attractions for only a few dollars or go all out on an all-day snorkeling tour for less than eighty dollars.

                            14. Krakow, Poland: $27.86/Day

                            Krakow, Poland

                              Flickr/Nick Salmond

                              No matter how little your budget is, you will be able to explore the cities main attractions like museums and palaces. You can get into the Wawel Castle for less than six dollars and if you go at the right time, you can get in for free!

                              15. Yangon, Myanmar: $27.83/Day

                              MYANMAR (BIRMANIA-BURMA) YANGON (RANGUN) SWEDAGON PAYA

                                Flickr/Jose Javier Martin Espartosa

                                The largest city in Myanmar has been rising in prices recently, but is still very cheap. It’s actually a fairly new tourist city since the tourism boycott was lifted in 2012. Hotels are now just beginning to pop up!

                                16. San Jose, Costa Rica: $29.43/Day

                                Parque Morazán Hidden Behind the Trees

                                  Flickr/Richie Diesterheft

                                  Although it’s one of the more expensive cities in Central America, it’s still pretty cheap. You can find all three meals for only a few dollars each and beers for less than two. You can also get a ‘Guaro shot,’ which is sugar-cane alcohol served with a lime wedge for fifty cents if you want to get your drink on.

                                  17. Cairo, Egypt: $26.76/Day

                                  Islamic Cairo

                                    Flickr/Joonas Plaan

                                    One of the greatest skills you can have on the road is the ability to bargain and that comes in handy while in Cairo. You can get a car to be at your service for an entire day for an affordable price, cheaper food, and you can pick up even better deals at hotels.

                                    18. Sofia, Bulgaria: $25.42/Day

                                    Sofia, Bulgaria, Vitosha Boul

                                      Flickr/Stella

                                      Eastern Europe is a cheap area all around and Sofia isn’t any different. You can get into many free attractions, find reasonable prices on food, and find comfortable hotels. Transportation can be a bit expensive, so I suggest watching which method you take to get around the city.

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                                      19. Panama City, Panama: $27.72/Day

                                      HDR of Panama City, Panama

                                        Flickr/Matthew Straubmuller

                                        This city has been a tourist favorite of late, so the best time to go to assure low prices is right now, in case they increase as the popularity of the area does. Right now you can find food and transportation for only a few dollars.

                                        20. Hoi An, Vietnam: $23.13/Day

                                        Danang or Hoi An Vietnam 153

                                          Flickr/Joseph Hunkins

                                          It’s easy to have a good night out here as the beer is only a few dimes (if not less) and they have dollar cocktails. The food is also extremely cheap. You can get a room with AC, cable, fridge, and Wi-Fi for next to nothing.

                                          21  Marrakesh, Morocco: $29.94/Day

                                          Place Jemaa el-Fna - Marrakech - Morocco - Maroc - Maroko - Μαρόκο - Fas - Marruecos - Marokko - Марокко - Night - Nuit - Photo Image Photography

                                            Flickr/Grand Parc – Bordeaux, France

                                            The overall prices of this city are very cheap, but you have to be careful where you book your rooms since they can be very low quality. The best places to get food are at street carts and the local restaurants.

                                            22. Delhi, India: $21.54/Day

                                            Connaught Place sunset

                                              Flickr/Ville Miettinen

                                              Another massive city, it can be explored for relatively cheap if you plan ahead. You can get into Humayaun’s Tomb for only four dollars and the Taj Mahal for a little over twelve.

                                              23. Beijing, China: $28.41/Day

                                              People Relaxing in a Beijing Park

                                                Flickr/Gordon McMullan

                                                Planning ahead to figure out where you want to stay and which attractions you want to go to is the best method to travel here, since they can get rather expensive if you’re not careful. One great place to go is the Forbidden city which only costs ten dollars!

                                                24. Hanoi, Vietnam: $15.79/Day

                                                Hanoi dawn

                                                  Flickr/Yen H Nguyen

                                                  One of the cheapest cities on this list, Hanoi is the capital of Vietnam. You can explore the Hoa Lo Prison where many people, including John McCain, served time in, for less than a dollar.

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                                                  25. Saigon, Vietnam $18.16/Day

                                                  Ho Chi Minh City District 1

                                                    Flickr/Tim Lam

                                                    Also known as Ho Chi Minh City, it’s another extremely cheap city in Vietnam. You can take a one hour cyclo ride for only  two or three dollars and find food and alcohol for less than five dollars.

                                                    26. Luang Prabang, Laos: $21.65/Day

                                                    Luangprabang 15

                                                      Flickr/Attila Terbócs

                                                      You can find some great guesthouses around the city as well as many different types of hotels for you to choose from, depending on how much luxury you want on your trip. There are also many great and cheap restaurants in the city that you can enjoy.

                                                      27. Sarajevo, Bosnia and Herzegovina: $28.48/Day

                                                      Sarajevo, Bosnia and Herzegovina - bridge over the Miljacka

                                                        Flickr/jaime.silva

                                                        The European city is very cheap and is trying to get more tourists after recovering the the mid-90s wars, which makes it a great place to find cheap food and accommodation. You can eat three meals here for as little as ten dollars.

                                                        28. Belgrade, Serbia: $27.52/Day

                                                        Belgrade Cityscape

                                                          Flickr/Jovan Marković

                                                          Like Sarajevo, they are also struggling to bring in tourists. You can find hotels and hostels for a good mix of comfort and price. Attractions and food are also very cheap.

                                                          29. Bucharest, Romania: $24.24/Day

                                                          Dambovita, Bucuresti, Romania

                                                            Flickr/Gaspar Serrano

                                                            This is the next big destination on my travel bucket list because of the prices. You can explore the village museum for only three dollars and even less if you’re a student. The Parliament Palace (the second largest building in the world) is less than eight dollars and that even includes a tour.

                                                            30. Jakarta, Indonesia: $25.25/Day

                                                            Jakarta Rooftopping At Night.

                                                              Flickr/kaybee07

                                                              Jakarta is a massive city that is known for being hot and humid, but the prices are excellent. Food and attractions are only a few dollars and the hotels are inexpensive as well.

                                                              Now that you know about all of these amazing places, how about checking out my other article to learn how you can travel them for even less? I wrote about some of my favorite budget travel tips and you can find that article here:40 Budget Travel Tips That Every Wanderlust Should Know.

                                                              Featured photo credit: kaybee07 via flickr.com

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                                                              Published on May 7, 2019

                                                              How to Invest for Retirement (The Smart and Stress-Free Way)

                                                              How to Invest for Retirement (The Smart and Stress-Free Way)

                                                              When it comes to stocks, I bet you feel like you have no idea what you’re doing.

                                                              Everyone who’s not a financial expert has been there. I’ve been there. But, time is passing and you need to be crystal clear with how you’re investing for your retirement.

                                                              Otherwise, it’s back to work until you can afford not to. So, how can you invest for retirement when you’re not a financial expert?

                                                              You take the time to learn the fundamentals well. If you do, you can grow your wealth and retire happy. The best part is that you don’t need to be a financial expert to make smart investment decisions.

                                                              Here’s how to invest for retirement the smart and stress-free way:

                                                              1. Know Clearly Why You Invest

                                                              Odds are you already know why should invest for retirement.

                                                              But, maybe you know the wrong reasons. It’s time you get clear on why you’d like to retire. Here are some questions to help you get started:

                                                              • Will you spend more time with your family?
                                                              • What does retirement mean to you?
                                                              • Are you looking to launch that business you’ve been holding off for years?

                                                              Everyone wants to retire but not for the same reasons. Once you’re clear for why retirement is important for you, you’ll focus on making it happen.

                                                              Investing in the stock market allows you to take advantage of compound interest.[1] All this means is that your money earns money on top of its interest. A reason why investment in the stock market is one of the best ways to plan for retirement.

                                                              2. Figure out When to Invest

                                                              “The best time to plant a tree was 20 years ago. The second best time is now.”– Chinese Proverb

                                                              It’s true if you’d had started investing when you were 10 years old, you’d have a lot more money than you do today.

                                                              The reality is that most people don’t start investing until it’s too late. So, if you’re currently waiting for the perfect time to start an investment, it would be today. Open your calendar and block out 2 to 3 hours to choose how you’ll invest for retirement.

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                                                              A quick way to get a snapshot of where you stand is to use Personal Capital. Input all your personal information and spend some time setting your retirement goals. Once completed, you’ll know where you stand with your retirement.

                                                              Having a savings account for retirement isn’t planning for retirement. Why? Your money loses value when you factor in US inflation.[2]

                                                              3. Evaluate Your Risk Tolerance to Create the Perfect Portfolio

                                                              Investing your money well depends on your emotions.

                                                              Why?

                                                              Because when the market drops most people panic and withdraw their money. On average, the US stock market yields an annual 6% to 7% ROI (return on your investment.) But, this won’t happen if you’re worried about short-term loses.

                                                              Before you invest your next dollar, know your risk tolerance.[3] Your risk tolerance determines the number of risky and safe investments you’d have.

                                                              Regardless of your investing style, you need to view investing for retirement as a long term game. Know that some years you’ll lose money but recoup this in the long-term.

                                                              Avoid watching market-related new. Also, create a double authentication to log in your investment account. This way you’re less likely to withdraw your money.

                                                              4. Open a Reliable Retirement Account

                                                              Depending on your circumstance, you may need to open a new brokerage account. This is the account is where you’ll invest your money.

                                                              If you’re currently working for a company, odds are that they offer a 410K investing account. If so, here’s where you’ll invest most of your money. The only problem with this is that you’re limited to the stock options that are available.

                                                              You do have the option to open a separate IRA (individual retirement account.) Here are some of the best brokers:

                                                              1. Vanguard
                                                              2. TD Ameritrade
                                                              3. Charles Schwab

                                                              5. Challenge Yourself to Invest Consistently

                                                              Committing to invest for retirement is hard, but continuing to do so is harder.

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                                                              Once you’ve started investment for your retirement, you run at risk from stopping. Often you’ll want to contribute less, so you’d have more money in your pocket.

                                                              That’s why it’s important that you create a budget that allows you to invest each month. If you’re working for a company, you can set a percentage for the amount you’d like to contribute each month. Most people by default contribute 1% but aim to contribute 10% to 15%.

                                                              Be the judge for how much you can afford to contribute after covering important expenses. To stay motivated, use Personal Capital to view your net worth.

                                                              A benefit to contributing money to your retirement account is not taxed. For example, if you earn $100 and invest 10%, you’d contribute $10, then get taxed on the remaining $90. As of 2019, the most you’re able to contribute towards your 401K is 19K but this can change.

                                                              6. Consider Where to Invest Your Money

                                                              The most common way to invest your money is in stocks, but it’s not the only way. Here are other ways to invest:

                                                              Robo Advisors

                                                              Robo-advisors[4] are fancy algorithms that’ll choose the best investments for you. Sites like Wealthfront make it easy for first-time investors to invest their money. You’d input information about yourself and set your risk tolerance.

                                                              Then, set your monthly contribution amount and your robo-advisor would do the rest. Robo-advisors charge a fee to manage your money, but less than regular advisors.

                                                              Bonds

                                                              Think of bonds as “IOUs” to whomever you buy them from.

                                                              Essentially, you’re lending money and charging interest. Like stocks, not all bonds are equal. Some will be riskier than others depending on their rating.

                                                              Here are the different types of bond categories:[5]

                                                              1. Treasury bonds
                                                              2. Government bonds
                                                              3. Corporate bonds
                                                              4. Foreign bonds
                                                              5. Mortgage-backed bonds
                                                              6. Municipal bonds

                                                              Mutual Funds

                                                              Picture a group of people dumping all their money in a jar that’s managed by a professional. This is how mutual funds work. The fund manager manages the money looking to earn capital gains (interest.)

                                                              One of the best types of mutual funds is index funds. Since these funds don’t try to beat the market and instead follow it, they need less research. Because of this they often charge the lowest fees and yield the best long-term results.

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                                                              Real Estate

                                                              Yes, buying a home is an investment when done correctly.

                                                              Imagine buying a home and using it as a rental property. After repairing it, you receive a monthly surplus check of $100 to $200.

                                                              This may not sound like a lot, but repeat this process enough times and you’d earn a large amount of passive income. That’s why real estate is one of the best investments to not only retire but become wealthy.

                                                              But, it requires a lot of money to start and you should expect losing money along the way as you learn the process.

                                                              Savings Accounts

                                                              Your money can still grow in a savings account. Nowadays most online banks offer a 2% annual return. Although the average inflation is higher your money will be available when you need it.

                                                              7. Master Disincline to Dodge Short Success

                                                              Investing for retirement is a long-term strategy. That’s why you need to master delayed gratification. All this means is delaying short-term pleasure for something bigger in the future. Research shows that those who have delayed gratification are more successful.[6]

                                                              So how can you master delayed gratification?

                                                              By building your discipline.

                                                              Think back to what retirement means to you. A clear purpose will help you avoid withdrawing your money during a market downturn. It’ll help you contribute more towards retirement when you’d want to waste it instead.

                                                              Your journey towards retirement will be long, so reward yourself along the way. Choose a reward that’s relevant and meaningful, so that you reinforce positive behavior. For example, after contributing more towards retirement, treat yourself to dinner.

                                                              8. Aggressively Invest on This One Investment

                                                              I’ve mentioned several types of investments but haven’t covered the most important one.

                                                              It sounds cliche but here’s why you’re your best investment towards retirement. The more you know, the more money you’ll be able to make. The more good habits you adopt, the more secure your retirement will be.

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                                                              More importantly, investing in yourself is an investment that no one can take away. There’s no market downturn nor tragic circumstance that’ll wipe your knowledge and experience.

                                                              But, how can you invest yourself?

                                                              Reading books, blogs, and anything that’ll help you learn new topics daily. Listen to podcasts and audiobooks on your commute to/from work.

                                                              Save money to buy courses and hire coaches. I used to believe hiring coaches was a waste of money when I could learn the subject alone.

                                                              But, coaches see your blind spots and hold you accountable. Hiring the right coach will help you achieve your goals faster than you would’ve alone.

                                                              Retire Happy with Excess Money

                                                              The key to a secure financial future doesn’t only belong to financial experts.

                                                              It’s possible for you and I. What if you were able to retire earlier than most people and weren’t a financial planner? What if you were able to focus on what you enjoy doing the most while your money was working hard for you?

                                                              I know this sounds impossible now, but the truth is you’re capable of taking charge of your retirement. I’m not a financial expert but I’ve learned how to invest my money by reading books and learning from others.

                                                              Investing your money is scary. So start small and invest a small amount of your money with a robo-advisor. Feel your money drop and rise for a month or two. Then, invest more and keep this up until you’re aggressively saving for retirement.

                                                              One day, you’ll wake up with a net worth you’re proud of – confident about your retirement. You now know a few strategies you can use to invest in your retirement. Will you take action to retire happy?

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                                                              Featured photo credit: Matthew Bennett via unsplash.com

                                                              Reference

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