Liam loves a spreadsheet and a bit of research. He’s at his most content when fiddling with his formulas and colour coding his columns. I set him a challenge. I wanted to know the price differential for living our kind of life in Blighty, Spain and Turkey. Having worked out our major expenses – food, booze, travel to Blighty, rent, bills, healthcare etc, Liam set about the task with gusto and usual thoroughness. The analysis is remarkably detailed and the results are not at all what we expected.
Based on our spend in Turkey
- We would spend a third more living in the UK than in Turkey (in the southeast of England, outside London). This is mostly due to higher rent levels.
- Our average weekly grocery shop would be cheaper in the UK than in Turkey
- Our average grocery shop would be cheaper still in Spain
- Overall, we would spend a fifth less if we lived in Spain
These are headlines only and many factors are variable. Nevertheless, it makes an interesting read. What makes the most difference to our fiscal health is our income. As we don’t work we depend on our investments. British and Eurozone interest rates are negligible so we would have to supplement our income somehow, leading to an obvious and unpalatable conclusion. However, rates won’t remain low forever.
Of course, we don’t live in Turkey on cost grounds alone and we don’t intend to move on any time soon. We’ll keep an eye on it though. We don’t know where our doddering dotage will take us.