How We Save $1,000 A Month By Doing Nothing
How much do you save every month for that rainy day? If it’s close to zero, it’s time for change. Not just the monetary kind, but change your boring life too! Financial advisers will tell you to have a little set aside for that rainy day. Of course, the definition of a “rainy day” is different for everyone.
But what if I told you, It’s possible to save at least one thousand dollars a month by doing nothing?
Oh, I am retired by the way. I look forward to my Social Security payment every month. I have to tell you, I have other income as well. That goes in the bank too.
So, how do I save that thousand every month?
First, it’s because we’re a frugal couple. We think alike and agree on what we spend money on. Of course, we have a monthly budget and we know how to save what we receive.
Second, we live in Ukraine. One U.S. Dollar is equal to twenty eight Ukrainian dollars called Grivna. That exchange rate can change on a dime. It is different just about every day within a few cents.
Enjoy this story from Bill and Larisa!
The Grivna can be driven by the news, changes in government policies, politics, holidays, financial markets and more. For the rest of this article, I am going to refer to prices in dollars.
Remember that one U.S. dollar is equal to 28 Ukrainian dollars on the day of posting this article.
When you visit or live in another country, you get used to exchange rates very quickly. In Ukraine, there are currency exchanges everywhere. Banks also exchange currency but at a lesser amount than the exchanges. Watching the rate fluctuate can help you save money too! However, that’s not what I am talking about.
It’s just easy to save money that you don’t need to spend. Imagine earning money every month with a part time job or simply by collecting your retirement benefits. There are millions of Americans doing it right now!
For many, living in a foreign country like a king is the only way to go. Spending all of your monthly income can be chronic. You know? Like that every night out at a five star!
But, what about those who have extra income monthly? If you live anywhere other than America, you increase the chances of saving big every month. That’s no matter how much you earn or receive. Of course, there are many countries you can retire or call home. Ukraine is just one.
Okay, so how do you save big every month? By living in another country that’s affordable. Even buying a home is relatively cheap compared to The U.S.A. Just this fact alone is reason to give Ukraine consideration.
Apartments (Referred to as flats) can be bought for as little $20,000 U.S. dollars. Okay, that would not be The Taj Mahal, but it would be a good starting point.
A nice three bedroom newly remodeled flat in my town runs in the $50K range. New flats here don’t cost much more. If you decide to rent in Ukraine for just a few months, you can expect to pay something close to $500 or less monthly for a newer flat. That would most likely be furnished too!
Utilities, Internet and public transportation are cheap compared to just about anywhere in the U.S.
Actually, the city where I live has reliable bus transportation around the clock. The cost for that bus ride across town is just under 25 cents.
Utilities run close to thirty dollars a month at our flat. You do the math. Once you decide to make the switch, start planning for a life changing adventure. If you are currently spending every penny you receive monthly, consider doing something different and join millions around the world making new friends and saving too!
If you are living on retirement benefits, spend what you need to and pocket the rest. For my wife and I, living in Ukraine is a great way to live life! I don’t give legal advice, but if you have questions or comments, please share. I’m always happy to help where I can.