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Thinking about moving to Europe but don’t know what you’re doing financially? Look down on other Americans who have already taken the big step of establishing forts abroad.
GOBankingRates spoke to American expats living in Europe to find out the many ways to save money while abroad. You’ll find that in some scenarios, saving money doesn’t really take any effort.
This is because there are aspects of life in Europe that are systematically cheaper than life in the US.
It’s cheaper to cook high quality food than buy junk food
While there are some ways in which life in Europe isn’t that different from life in the US, eating out frequently in any location can drain your bank account. But there is an interesting and huge difference between life here and life there; In Europe, it is more expensive to buy pre-made and often less healthy foods than to cook good things.
“Cook more. Good, high-quality food is generally more affordable,” said Kevin Schreck, an American tour guide and content creator based in Valencia, Spain. Abroad in Valencia. “But junk food or ready-made meals are more expensive.”
Avoid Airbnb
Ilir Salihi, Founder and Senior Editor incomeinsider.orgDivided its time between the US and Europe (mostly France) from 2020 to 2025. His top tips for saving money are to avoid short-term rentals, including Airbnb.
“While this is convenient, it often results in rents being at least 50% higher than local prices, and if there is a dispute with the property owner, customer service can be very poor or completely unreliable,” Salihi said. “Your best bet is to use Facebook Marketplace or local Facebook groups to find communities that rent or sell property without a middleman service.”
Private schools are generally very cheap
Here’s an example of a way in which simply living in Europe is a money-saving move: private education. Unlike the US, in parts of Europe it is available even on middle class budgets.
Cynthia Matthews Von Berg, who runs the blog porto por favorMoved to Porto, Portugal with her spouse and two children in 2024, notes how much more affordable top-rated private schools are in Porto than in the U.S.
“Our children are in a top international school with a British curriculum, and pay about 1,000 euros a month (about $10,000 a year) for a middle school student,” said Matthews von Berg. “In America we couldn’t afford private education.”
go where the locals go
If you’re new to a country, you risk being tempted by pricey tourist traps designed to attract Americans who don’t know any better. To avoid this, follow the guidance of local people.
“Find out where locals go for groceries, general shopping and eating out,” Schreck said. “My (Valencian) partner always gasps at the price of paella in tourist-trap restaurants.”
You’ll save a lot on health care
Jana Sanchez, an American expat living in the Netherlands and co-founder GTFO ToursOne major expense saw a decline after relocating to Europe: healthcare.
“My health insurance went from $900 a month in 2024 to about 200 euros a month in Europe in 2025,” Sanchez said. “That 200 euros includes the premium, all visits, all treatments and medications – and also includes the 385 euros deductible.”
Fly carry-on only
Do you want to make the most of Europe and visit multiple countries on a budget? Embrace flying with no carry-on.
“We enjoy cheap flights across Europe,” said Matthews von Berg. “Ryanair, Wizzair and easyJet all fly from Porto. If you’re willing to fly only carry-on, you can often find round trip flights for 40€ or less.”