Economic hardship is impacting the world. The housing market is suffering badly, specifically in countries like Turkey, with people moving in and demanding houses, forcing the prices to soar dramatically. Landlords are starting to feel the pressure of the cost of living, and tenants are facing rent increases so astronomical they will have to leave and face a broken chain on the housing market. This devastating blow is leaving people looking for answers to the solution. How do renters and first-time buyers find a fairer market? The Pandemic and the current conflict have created a bleak global economic outlook and left society in a real dilemma. The overall cost of living is affecting every aspect the world over.
Here are Her Expat Life's Survival Options!
1: Choose Co-Living
What is Co-Living? Co-Living is a step up from hostels, it has the same concept, but you can rent for longer; it's a great place for remote workers as you have more privacy, and the vibe is more professional. Co-Living allows you to live peacefully and be part of a close-knit community. It's easy to get to know people and find new business opportunities. Co-Living is equipped to encourage creativity, innovation & teamwork 24 hours a day. They also promote professional cooperation and the creation of complementary projects to everyone's benefit.
Some countries will do nothing but hike the cost of living and make their inhabitants pay more for everything as governments handle the rising debt and inflation caused by exterior pressures. Sometimes the only way is to move. Move to less economically advanced countries, where the tax is already low, governments do less for you, and yes, your lifestyle will change. Yet, moving to countries like Thailand, Bali, or Mexico has many advantages. They are warmer climates. Therefore you do not need things like heating, and more often than not, they have street vendors selling affordable local grub, meaning no one cooks at home, meaning fewer gas bills.
3: Downgrade your lifestyle
The pressure of modern society to maintain a particular lifestyle of socialising and keeping up with the latest fashions and tech forces money out of your pocket every month. With the cost of living rising, it's time to look at your lifestyle and make changes. Shopping locally or sourcing cheaper options where possible will help your money go further. Getting more from your groceries and cooking at home instead of eating out will also help. Build a capsule wardrobe with materials that will last longer than throwing away the 'latest fashions.
4: Start A Side Hustle
Clearing out clutter or old stuff you don't use anymore are all ways to earn extra cash. Sell old mobiles, books, DVDs, and laptops or rent your designer clothes, camera, or musical instruments. Make use of your skills, such as online teaching, dog walking, or re-upholstering old furniture, and rent out your apartment on Airbnb; these all build revenue streams.
Talk to Her Expat Life today and get expert advice on moving abroad and starting your global lifestyle!