About LifeWorthIT
We help you understand if your income is enough to live well in any country.
Our Mission
LifeWorthIT is a decision-focused platform designed to help remote workers, freelancers, digital nomads, and expats understand whether their income is sufficient to live comfortably in different countries around the world.
Unlike simple calculators, we provide clear explanations, lifestyle scores, and affordability verdicts to help you make informed decisions about where and how to live.
Data Methodology
Lifestyle Score Calculation
Our Lifestyle Score (0-100) is calculated using four weighted factors:
- Housing Affordability (30%): Compares rent costs to net income. Lower rent ratios score higher.
- Cost Pressure (25%): Measures total costs as a percentage of income. Lower ratios indicate less financial pressure.
- Disposable Income (25%): Evaluates remaining income after essential costs. Higher disposable income scores better.
- Basic Lifestyle Comfort (20%): Assesses if essential costs (housing, food, transport, healthcare) are reasonable relative to income.
Cost Data Sources
Our cost estimates are based on average market data for:
- Housing: Monthly rent for a one-bedroom apartment (low, average, or high-end areas)
- Food: Monthly grocery and dining costs for a single person
- Transport: Public transportation and occasional taxi/ride-share costs
- Healthcare: Insurance premiums and out-of-pocket medical expenses
- Utilities: Electricity, water, internet, and phone bills
- Miscellaneous: Personal care, entertainment, and other discretionary expenses
Currency Conversion
We use approximate exchange rates to convert between currencies. For production use, we recommend integrating real-time exchange rate APIs for more accurate conversions.
Tax Estimates
Net income calculations include estimated tax rates based on average effective tax rates for each country. Actual tax obligations can vary significantly based on individual circumstances, income sources, and tax treaties. We recommend consulting with a tax professional for accurate tax planning.
Disclaimer
Important: LifeWorthIT provides estimates and analysis for informational purposes only. The calculations, cost estimates, and lifestyle scores are approximations based on average market data and should not be considered as financial, legal, or tax advice.
Actual costs can vary significantly based on:
- Specific city or neighborhood within a country
- Personal lifestyle choices and spending habits
- Family size and dependents
- Health conditions and medical needs
- Currency exchange rate fluctuations
- Tax obligations based on individual circumstances
- Changes in local economic conditions
We recommend conducting thorough research, consulting with financial advisors, and verifying current costs and regulations before making any relocation or financial decisions.
Contact Us
Have questions, feedback, or suggestions? We'd love to hear from you. Fill out the form below and we'll get back to you as soon as possible.
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