Investopedia defines the cost of living as:
"Cost of living is the amount of money needed to sustain a certain level of living, including basic expenses such as housing, food, taxes and health care. Cost of living is often used to compare how expensive it is to live in one city versus another locale. Cost of living is tied to wages, as salary levels are measured against expenses required to maintain a basic standard of living throughout specific geographic regions."
It doesn't matter whether you live at home, travel, with roommates, or rent/own your own place, cost of living is a reality of life.
One of the easiest ways to IMPROVE YOUR QUALITY OF LIFE is to REDUCE YOUR COST OF LIVING.
What if you could keep the same salary you make now, but decrease your cost of living?
Immediately, you would improve your quality of life. AND you now have extra money to spend, save or use however you want.
David and I were drastically able to improve our quality of life by traveling. We went from a cost of living of $3,600 a month in Denver to live on $2,400 a month on the road. And that was with regular travel included! It's possible that we could have spent less by traveling to or living longer in countries with even lower costs of living.
Of course living a location independent lifestyle requires that you make income online or that you have plenty of savings or some form of retirement/money coming in. So that doesn't work for everyone. BUT everyone CAN reap the benefits from reducing their cost of living which includes:
- Less stress.
- Save money.
- You're happier.
- Less impact on the environment.
- Become debt free.
- Better quality of life.