Probably other portuguese are going to hate me for saying this but... you have Spain. Their cost of living is a bit higher but their wages are higher as well and in some key stuff they have cheaper stuff than us. I went to Barcelona last year and I actually purchased there stuff to bring to Portugal because it was cheaper.

Also, I get why people get the idea that Portugal is "cheaper". Most come here in a trip, eat at a restaurant and pay a lot less than they're used to and they think the country is cheap. Well, that only happens because the wages are very low (our minimum wage for 2023 is 740€ and even though it raised a bit, the remaining wages aren't raising accordingly).

From personal experience cost of living in portugal is in line with germany.