How You Can Save Thousands by Moving to Another Country

The Financial Benefits of Starting Fresh in a New Country

If you’re looking for an adventurous way to save a lot of money, then moving abroad for a few years is one guaranteed way to make this happen!

Please note that this method works best if you work remotely or have some other source of incoming funds. If you’re looking for international opportunities only, you’ll have to do your own homework until you find something; depending on what you’re looking for, that route could take months, if not years, to find.

That said, if you have at least $2,000 coming in every month, then that is plenty enough to live abroad and still save money. It’s also enough to get approved for permanent residency in most countries. You probably won’t be able to save a lot with that amount, maybe a few hundred bucks, but you’ll be living a medium-class lifestyle!

For those already earning $3K+ a month, you can expect to live comfortably! Of course, the more money you have, the better your financial life will be! As for those earning $5K+, you can easily front like a millionaire, depending on where you relocate.

I chose Morocco as my second home

I chose Morocco as my second home for several reasons, including the goal of saving money! So, why Morocco? To begin with, it’s a very safe country, and the cost of living is affordable!

As for safety, Morocco goes beyond basic standards! Here, you’ll never hear about senseless shootings, killings, gang violence, police violence, or armed robberies. Of course, every country has bad neighborhoods and crime, so you still have to keep that in mind, just as you do anywhere else.

You will often read that pickpocketing is a popular crime here, but I’ve been living on and off in Morocco for 17 years, and the only thing I’ve ever had stolen from me was my heart!

I’m not saying it doesn’t happen; it’s just never happened to me. Then again, I don’t flash my cash or go to places I have no business going. All you need is a little common sense, and you’re good to go!

Overall, Moroccans are very friendly and open-minded. They have little money, but they’re always smiling and willing to help.

Plus, the country has a zero-tolerance policy regarding crimes committed against tourists and foreigners. Morocco is the safest country in Africa, perhaps one of the safest in the world.

The cost of living in Morocco

As for the cost of living combined with safety, you’ll be hard-pressed to find something better! I currently live in the city center of Kenitra and pay $370 a month for rent.

My large, modern apartment includes three bedrooms, a living room, a dining room, 2.5 bathrooms, a balcony, and a separate private terrace. We haven’t seen these prices in America since the 80s!

Unlike most cities worldwide, especially in the US, Morocco’s inner cities are generally the safest, cleanest, and most convenient places to live.

Electricity costs about $50 a month, including water and trash. Maroc Telcom offers 100 Gbps high-speed fiber internet for $50 a month, which is generally reliable and consistent. They also offer a 200 Gbps plan for $90.

When it comes to food, it really depends on your lifestyle and eating habits. I buy all my fruits and vegetables from a local souk, which is like an outdoor market for just about anything, including fruits & veggies!

I also buy all my meats from a local neighborhood butcher and pick up everything else from the supermarket. I spend about $300 a month; we are a family of four!

Additional Expenses to Consider

In addition to the above expenses, you’ll also want to factor in other expenses, such as eating out, entertainment, medical expenses, health insurance, traveling, buying clothes, and education, if you have kids.

We eat out at least three times a month, which costs around $60. I live across the street from KFC, so it’s kinda hard to say no sometimes!

If you don’t have a car, city buses are clean, modern, and safe. They cost about .50 cents and will get anywhere in the city. Taxis are also always available and will run you anywhere from $1 to $2 to go anywhere in town!

When it comes to clothes, I’ll be honest with you: 90% of the clothes and shoes sold here are knockoffs from China. Everyone wears them, so nobody will notice your fake Jordans — or even your real ones if you have them! In other words, clothes are cheap in Morocco!

You’ll definitely want to send your children to a private school for education. For children 3–13, you’ll pay between $80 and $300 a month; I pay $120 for my 5-year-old, $130 for my 10-year-old, and $150 for my 16-year-old. So, that’s an additional $300 a month for me, but well worth it, in my opinion!

On average, I spend an additional $400 a month on health products, insurance, and other expenses, such as entertainment, shopping, and personal habits.

That said, I generally spend no more than $1,500 a month on everything I mentioned above. So, if you make more than $3K a month, living in Morocco can save you a lot of money.

Final thoughts on saving money in Morocco

Another thing to consider is that until you secure permanent residency in Morocco, you’ll have to leave the country every three months. However, this is oftentimes fun and adventurous and an opportunity to create new memories that’ll last a lifetime!

Don’t worry — it’s not as bad as it sounds! Morocco is only 15 miles away from Spain by ferry, or you can walk or drive across the border to Spain. Spain has two cities, Ceuta and Melilla, which are on mainland Morocco.

Most people go and then turn around and come back the same day; once you do this, you’ll be granted another 90 days visa-free. However, I like getting a hotel and spending the night, but if you’re on a tight budget, you can always come back on the same day!

As for the cost, I never spent more than $300 in total, including a round-trip train, taxi, ferry, hotel, food, and some gifts! So that is another expense you’ll want to keep in mind, regardless of what country you choose to live in.

If you want me to know more about living and saving money in Morocco, please feel free to contact me. I will respond as soon as possible with the best answers to my knowledge.

Thank you for reading; I look forward to sharing much more with you guys in the coming weeks and months, so make sure to follow me to receive a notification!

You can also read more about my story about living in Morocco here.