Moving to Vietnam: Budget Tips for Digital Nomads

Have you ever thought about quitting your 9-5 job and moving to Vietnam?

We’ve decided to move to Vietnam for a year due to the super low cost of living and to get a feel for life in Asia. For that, we know we need to budget wisely for living abroad.

We told ourselves, “Now or never.” This is the right time because we are still young and do not have any kids.

Our minds came up with this idea in January 2023. Since then, we began planning our budget for this brave and exciting adventure.

We have not been to Vietnam yet, but we loved Thailand when we visited. 

Also, we loved the idea that you can easily live in Vietnam for a year on just your savings, which makes it a popular choice for digital nomads.

Living in Vietnam is approximately 70% cheaper than in Luxembourg, where we currently live, making it an ideal choice for budget-conscious expats.

I will break down the costs, strategies, and budgeting tips for a year abroad in this post as part of our detailed financial plan for moving to Vietnam.

Why is Vietnam a Top Choice for Expats and Digital Nomads?

Why are we relocating from Luxembourg, the wealthiest nation in the world, to one of the poorest?

Due to two primary factors: the climate and the low cost of living.

• Regarding the weather, the average annual temperature across the nation of Vietnam is 25-30°C (77-86°F). 🌞
• Really cheap housing, groceries, and transportation all contribute to a low cost of living. 💰
• An excellent environment to work remotely. 💻
• Cultural diversity: learning about the history, cuisine, and customs of the country is an intriguing experience. 🌿

There is not much sun in Luxembourg, which makes us feel down, especially in the fall and winter.

It is a very depressing time, and without vitamin D, we have no energy. 

You might think this only happens in the winter, but trust us—Luxembourg has so many rainy days in the summer that it makes us miserable too.

The weather in Luxembourg is awful, which is why we want to leave and go somewhere with more sun.

In addition, the apartment we rent in Luxembourg City costs a lot—2,500 euros a month. 

While in Vietnam, a monthly rent is about 300 euros. 

Isn’t it crazy? 😀

Now we spend way too much for rent, and that money we could invest or use differently instead of paying off someone’s mortgage.

How to Set a Budget for Moving to Vietnam as an Expat

To budget effectively, we broke our expenses into key categories: housing, food, transportation, visas, insurance, and personal costs. 

Below is a breakdown of what we anticipate spending for two people over 12 months:

1. Housing Costs

Vietnam has a wide range of housing options, from cheap apartments to high-end condos.

We opted for a frugal lifestyle by renting a one-bedroom apartment in Da Nang for the lowest possible price.

According to our research, the going rate for rent is $300 per month.

As a result, each of us will pay $150 a month.

Super affordable!

• Monthly Rent: $250–$350 for a fully furnished one-bedroom apartment in cities like Da Nang for two people. Per person: approximately $150. Yearly rent for person: $1,800.
• Utilities and Internet: Approximately $50–$100 per month.
• Total for the year per person: $3000.

Tip: Look for housing on expat Facebook groups or local rental websites like Batdongsan.vn. Negotiate rental prices, as landlords often offer discounts for longer leases. Also, paying in cash for 6 months upfront can make you a better deal.

2. Food and Dining

One wonderful thing about Vietnam is its food scene. You can find cheap street food and fresh ingredients at local markets.

In an effort to cut costs and live frugally, we choose to prepare most of our meals at home rather than eating out.

Also, I believe that cooking at home is healthier as you control what you are putting in the pot. 

Plus, meals out have more fat and calories, so eating out can make you gain a lot of weight.

• Eating Out: $1–$3 per meal at street food stalls or casual eateries.
• Groceries: $100–$150 per month if you cook at home.
• Monthly Food Budget: $200–$300 for two people.
• Total for the Year: $2,400–$3,600.

Tip: Embrace local cuisine—it’s cheaper and gives you an authentic Vietnamese experience. Avoid imported goods, as they are often more expensive. Be careful with eating out every day, as you might gain weight quickly.

3. Affordable Transportation Options for Expats in Vietnam

Transportation in Vietnam is convenient and inexpensive. We are aiming to buy a motorcycle for our daily use.

• Motorbike Rental or Purchase: Rent for $50–$70 per month or buy a second-hand bike for $250–$500.
• Fuel: Approximately $10–$15 per month.
• Public transportation: buses and local trains cost less than $1 per ride.
• Total for the Year: $800–$1,000.

Tip: If you’re comfortable riding a motorcycle, it’s the most economical and practical way to get around. Always wear a helmet and drive cautiously.

4. How Much Do Visas Cost for Living in Vietnam?

A 90-day single-entry e-visa will cost us $25 per person, and we will renew it immediately thereafter.

You can apply for an e-visa on this official website.

It takes 3 days to get a decision. If declined due to some reason like unclear photography, make the amendments and wait another 3 business days.

Weekends and holidays don’t count, so be patient, but also make sure to start applying for e-visa as soon as you buy your flight tickets, as this might take time, so do it in advance for less stress.

• Visa Fees: $25–$50 per month, depending on the type of visa.
• Visa Renewal or Exit Costs: If visa extensions aren’t available, budget for border runs or renewal fees ($100–$300 annually).
• Total for the Year: $500–$700.

Tip: Research visa types and regulations before moving. Vietnam’s visa policies can change frequently.

5. Health Insurance

• Monthly Insurance Premium: $50–$100 per person for comprehensive coverage.
• Total for the Year: $1,200–$2,400 for two people.

Tip: Compare expat insurance plans like Cigna, Allianz, or SafetyWing for the best coverage. Local healthcare is affordable, but it’s beneficial to have coverage for emergencies or major treatments.

6. Personal Expenses and Entertainment

This category includes phone plans, fitness, and leisure activities.

• Phone Plan: $5–$10 per month for unlimited data.
• Gym Membership: $20–$40 per month.
• Entertainment and Travel: $50–$150 per month for weekend trips, attractions, or dining out.
• Total for the Year: $1,000–$2,400.

Tip: Explore free or low-cost activities like hiking, beach visits, or joining expat meetups.

Total Estimated Budget for a Year in Vietnam

So how much does it cost to live in Vietnam for a year?

• Low-End Budget: $9,100
• High-End Budget: $16,500

This budget covers everything for two people and allows room for occasional splurges.

How We’re Saving for Moving to Vietnam

To fund our year in Vietnam, we implemented these strategies:

1. Set a Savings Goal: We calculated our budget and aimed to save a minimum of $12,000 each to cover all expenses and have an emergency fund. With this amount, we should be fine to live one year in Da Nang.
2. Automate Savings: Allocated 25-30% of our monthly income to a dedicated savings account.
3. Sell Unused Items: Decluttered and sold furniture, clothes, and electronics on platforms like Facebook Marketplace. 

Related: How to Declutter Your House in 30 Days With Absolute No Effort

4. Cut Unnecessary Expenses: Paused subscriptions, limited dining out, and minimized shopping for non-essentials.

Related: 10 Frugal Living Tips to Save Money in an Expensive Country

Additional Tips for Moving to Vietnam

1. Learn Basic Vietnamese: Knowing a few phrases can help you navigate daily life and connect with locals. Here are a few examples:

Hello/Hi – Xin chào.

Goodbye – Tạm biệt.

Thank you – Cảm ơn.

Please – Làm Ơn/Vui Lòng.

Sorry – Xin lỗi.

I don’t understand – Tôi không hiểu.

Do you speak English? – Bạn có nói tiếng anh không.

No problem – Không có gì

2. Prepare for Cultural Differences: Research Vietnam’s customs, traditions, and etiquette to adapt more smoothly.
3. Pay attention to the plastic and dirt; it annoys me much that there is garbage and dirt everywhere, especially since living in Europe is nice and our cities are clean. Life in Vietnam is different from what you are used to, so either prepare yourself mentally or travel to Vietnam first to see how differently things work.
4. Health Precautions: Ensure you’re vaccinated for common diseases in Southeast Asia and pack a basic first-aid kit.
5. Join Expat Communities: Groups like “Vietnam Expats” on Facebook offer valuable tips, housing leads, and connections.

Conclusion: Is Moving to Vietnam Right for You?

Planning to move to Vietnam is an exciting opportunity that does not have to be expensive.

We determined that we can easily survive there a year with a minimum of 12,000 euros per person saved.

If you put in the time and effort to plan ahead, create a budget, and keep an open mind, you can have an unforgettable experience without breaking the bank.

Is Vietnam or another cheap country on your list of potential destinations?

Share your financial strategies and questions in the comments below!

Expense Category	Monthly Cost (USD)	Yearly Cost (USD)	Tips to Save
Housing	$250–$350	$3,000–$4,200	Negotiate long-term leases and pay upfront for discounts.
Utilities & Internet	$50–$100	$600–$1,200	Opt for energy-efficient housing.
Food & Dining	$200–$300	$2,400–$3,600	Cook at home and embrace local cuisine.
Transportation	$70–$90	$800–$1,000	Buy a second-hand motorbike instead of renting.
Visa Costs	$40–$60	$500–$700	Plan visa renewals early to avoid additional costs.
Health Insurance	$50–$100	$1,200–$2,400	Compare plans like Cigna or Allianz for the best deal.
Personal Expenses	$100–$200	$1,200–$2,400	Use local SIM cards and enjoy free outdoor activities.
Total Budget	$760–$1,200	$9,100–$16,500