The cost of living somewhere in the world is called living cost. It includes price of food, housing, healthcare and entertainment. Each and every city in the world has a different living cost. If a city has higher food prices then may be it has lower healthcare prices as compared to other cities. There are many objectives to compare the living cost of two or more locations like if you are moving permanently to that place, you have a job offer there or your present location’s expenses are just above your income.
There are many websites that provide the online facility of comparing living costs of two or more locations. They just use the feedback of different people who visited or lived there along with the economy situation there. You can also do this analysis by yourself and you won’t need any work on website.
There are some key points to keep in mind if you want to do an analysis like:
It’s like the most important thing to consider if you are going to move to another location. There is no alternate of food and you have to check for the food prices before moving to another city. Big cities like Tokyo or New York comes with higher food prices. It doesn’t make a difference whether you get fast food or go to a restaurant; it’s almost same when it comes to prices.
You can’t stay in a hotel forever and that means sooner or later you have to get a place to live. Either you buy one or take a rented one; both will cost you a lot. If you can arrange for money, it’s best to buy a place instead of renting one. Some cities have less food prices but higher housing prices. Housing cost also includes the bills you are going to pay like electricity, telephone and gas.
Living anywhere, it is compulsory to move around either by public transport or your own vehicle. Using public transport like bus or cab can takes a lot from your pocket if you are going to live in a city with higher fuel prices. Using your own vehicle will lower the expenses but not that much, just a little bit.
Daily use items like soap, shampoo, toilet paper are also very important and need to be consider. Although these items don’t cost too much individually but combine they cost a lot. You have to check the prices of these items as well before moving to a city.
It includes going out for a dinner, watching a movie in cinema or buying a pack of cigarette. Some places have higher prices when it comes to movies or theater but cost less in case of food or housing. It depends on your need that what is your main preference and what need more in your daily routine. If you are not a fun type of person of doesn’t like to go out a lot, it’s acceptable to move to a place with higher entertainment prices but low food or transportation rates. What location you going to choose is totally depends on you and your preferences.
Here is preview of a Free Sample Living Cost Analysis Template created using MS Excel 2010,
Here is download link for this Living Cost Analysis Template,