Belize

Belize is a little country, both Caribbean and Central American. Generally considered one of the best values in the Caribbean, it is relatively expensive by Central American standards. It can appear that way at first.

Like anywhere else in the world, the cost of living is highly dependent upon your lifestyle. The more time you spend here, the less expensive it can be.

All too many expats fall into the trap of living overseas as if they are on vacation—living in a lavish resort-type setting and buying imported wine, food, and other products.

After the first few months in their new home, they have blown their budgets and never get settled in.

The key to maintaining a low cost of living in Belize is to get to know the local vendors, farmers, and suppliers. Many Belizean enjoy higher standards of living than many ‘First World’ residents.

They purchase locally grown foods, for example, which are far superior to the more expensive processed foods imported from abroad.

Will you be happy with a local diet of beans and rice, or do you prefer American staples?

Local grocery items, like flour, rice, and sugar, are inexpensive. Local fruits and vegetables at the outdoor markets are inexpensive too.

Chicken is a staple in the Belizean diet and it’s low-cost. You’ll pay US$4 for 30 eggs. Go to a local butcher to get beef, pork, fish, shrimp, and even salmon. Pork chops cut to order cost US$4 a pound.

About US$100 should be enough for your weekly grocery bill. You can also find American products at grocery stores… but you will be spending between 25% to 50% more on groceries if that’s your preference.

Import duties are generally high in Belize. In this case, the Qualified Retirement Program (QRP) visa offers an advantage.

With the QRP , you’re allowed to bring your household goods and a car duty-free. However, you need to remember that this is a one-time deal.

Having a car is expensive because the import duties and gas taxes are high. Also, a strong 4×4 car is best in Belize.

Maintaining a car may be one of the most expensive things to include in your budget. It is possible to live without a car on the mainland, but if you want to go elsewhere, you should consider a car.