The worst things I've seen when people think other countries have a low cost of living

I work in a field that frequently requires me to relocate to other countries. I've seen many people get themselves into debt or get disappointed by the standard of living when moving abroad.<br><br>1. **Assuming currency strength** - I've met people who wanted to move to Italy, but their currency was stronger, and Italy's was weaker. They thought they could save money but were met with sticker shock. The prices were higher for them because their money was worth more.<br>2. **Not accounting for differences in quality** - People expect cheaper versions of things they're used to back home. They get frustrated when the "cheap" stuff isn't as good or doesn't last as long. It's not "cheap," it's just cheaper. If you're used to premium quality, you'll pay premium prices.<br>3. **Misjudging local lifestyles** - In many countries, especially in Europe, the concept of "basic needs" is different. People often prioritize quality of life, convenience, and experience over bare essentials. This mindset leads to different spending habits and a higher perceived cost of living.<br>4. **Inaccurate comparisons** - Direct comparisons between countries don't always work. For example, someone might say, "Rent is $X cheaper than in New York City." However, the same $X might get you a much nicer place or a better location in their country, making the "cheaper" option actually more valuable.<br>5. **Underestimating costs of living abroad** - People overlook additional expenses like visa fees, relocation costs, and the initial outlay for setting up a new life. These one-time costs can quickly add up and are often overlooked.<br>6. **Lack of research** - Without proper research, people underestimate the true cost of living. They might focus on popular tourist destinations or areas with lower prices but overlook more expensive regions or cities.<br>7. **The "money goes further" myth** - While money might stretch further in some countries, it's not always because the cost of living is lower. In many places, people simply prioritize their spending. They're willing to spend more on certain things and less on others. This mindset can make it seem like money is going further, but it's just a different distribution of resources.<br>8. **Cultural misunderstandings** - People often misunderstand local customs and what's considered "frugal." What seems cheap or basic in one culture might be seen as extravagant in another. This cultural disconnect can lead to frustration and misconceptions about the cost of living.<br>9. **Inflation and exchange rates** - Exchange rates and inflation can drastically change the cost of living. A country might have a relatively low cost of living, but if the exchange rate changes or inflation is high, it can quickly become more expensive.<br>10. **Unrealistic expectations** - Some people have unrealistic expectations about what they can afford or what they'll be able to do with their money. This is often driven by social media, where people showcase the "cheap" and "good" things they can do abroad.