Woman who left America explains why her money lasts longer in Europe: 'Upgraded my life'
'The cost of living is less, and the quality is 10 times better...'
Leaving America is a massive life upgrade; in fact, it makes your money last longer, leading to an overall increase in life satisfaction, says Michelle Garabito (@michelletheluxnomad), a woman who left the USA two years ago. Given the economic chaos coupled with the fast-paced way of life, Garabito realized she needed to make a change. In a video posted on her Instagram account, she explained how coming to Europe after spending some time in America has positively impacted her life, especially in terms of finances, work-life balance, and visa complications.
Garabito, originally from Spain, enjoys a nomadic life across the Schengen Area, a zone of twenty-nine European countries that, without internal border controls, allows free movement of people under the Schengen Agreement. 2 years ago, when Garabito left the USA to live in Europe, she experienced three major ways in which her lifestyle was upgraded, extending well beyond money. Firstly, she explained how she had been benefiting from the "geoarbitrage advantage." Garabito had lived in America and saved in dollars. And when she shifted to Europe, a location with a significantly lower cost of living, she realized that her money lasted longer here. "Even though the euro is a little bit stronger than the USD, things here are anywhere between 50% and 70% less expensive than in the US," Garabito explained. She could pay off her debt much faster, and her savings also grew significantly quickly. "The cost of living is less, and the quality is 10 times better," she added. Second, Garabito mentioned the "time-hacking arbitrage."
Most European countries are ahead of the EST by 6-8 hours, and the woman, who runs her own company, also works accordingly. "I am already fully plugged into the Central European time zone, so I am up anywhere between 9:00 and 11:00 am Central European Time, which means it is 2, 3, or 4:00 am back in the States, which also means I have the entire day to enjoy my life," Garabito exclaimed. The third advantage she shared was the "Schengen and apostle advantage." Since she has a legal residency in Spain, Garabito can easily travel across the Schengen Area without the 90-day limit. "It is the most incredible lifestyle ever," she announced. Just like Garabito, "The Harris Poll" revealed that more than half (52%) of Americans think they can have a higher quality of life abroad. In fact, the poll found that four in ten Americans have considered moving abroad, believing that it could lead to greater happiness. While a majority (70%) of Americans believe the U.S. is the most profitable country for work, 68% feel that they are surviving, more than thriving. Among those who seriously consider moving abroad, 86% blame the high cost of living in America.
While some agreed with Garabito's perspective on leaving America, others called her narrative false and superficial; for instance, @ara commented, "20 years ago, it was the opposite. Life in the USA was cheaper than in Europe. Today, you need a six-figure annual salary to survive in most big cities in the USA. The only European country that comes close to the cost of living in the USA is Switzerland, not to mention the inexpensive healthcare available in most European countries." However, @anithaannicethomas, who didn't seem to agree with Garabito, wrote, "Europe is all good and stuff only if you come here with good savings. Try starting fresh with nothing, and you will see you don't have any savings... because the economy is redundant. You can't make money here as you do in America."
You can follow Michelle Garabito (@michelletheluxnomad) on Instagram for more lifestyle content.
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