Cost of Living in Ecuador

In an earlier post, I told you that one of the reasons we’ve decided to relocate to Ecuador was to reduce our overall cost of living.  By relocating somewhere where the cost of living is significantly cheaper, we are hopeful that our funds will go further, allowing us the ability to slow down and actually enjoy life.

 

Recently, Ecuador was voted the #1 Retirement Haven in the World by International Living Magazine for like the umpteenth (I think it’s a word) year in a row.  Now rest assured, we haven’t foolishly based our decision on an article from a company that also wants to sell me “relocation kits and seminars”.  Honestly, I’ve taken what I’ve read from them with a grain of salt.

 

It wasn’t until I started reading many blogs from expats living in Ecuador which all allude to the same thing – it’s cheap and it’s spectacular.

 

For example, a couple (ages 56 and 53) live in the mountain village of Cotacatchi, where they don’t have to worry about stretching their retirement dollars.  Their total monthly expenses are just $580 and that amount includes a maid service, pet expenses and rent on a new 1,200 square foot apartment.

Here’s their detailed monthly budget:

Rent:	$150
Food:	$250
Water:	$6
Electricity:	$13
Propane:	$7
Medications	$50
Laundry:	$24
Housecleaning (maid twice a week):	$40
Dog food:	$40
Total:	$580

 

 

 

 

 

 

 

 

 

 

 

 

 

Now, we plan on living beach front, so our housing expenses would higher if we planned on renting, but we plan on buying, so we can subtract the cost of rent from the overall expenses, but will need to add in insurance, internet and telephone.  So, even if our living expenses were $900 a month – we’d be laughing all the way to the bank.   Our basic monthly expenses now are at least 4 times that amount.  It makes me ill just thinking about the money we are wasting.

 

It’s not just for retirees either.  I’ve found numerous blogs from expats with young families that have chosen to move to Ecuador for a simpler, cheaper life – where family takes priority over both parents needing to work 50 hours each just to make ends meet.

 

So, there you have it – Ecuador is the place to go.   It’s the place where I’m going.  Let me know if you want to join me.  I hear the rent on a beach chair will cost you 25 cents a day and beer is cheap at only 75 cents per bottle, so depending on how much you drink, you could live fairly cheaply by camping out on my beach, but act soon because those prices won’t last for long…