There is a difference.
Cost of living is how much it costs you to afford the lifestyle you live vs your Standard of living is what you need to have a nice life.
For instance, you can be happy with your “comfy” clothes and good home cooked meals but if you live in an expensive house and drive an expensive car, your Cost of living is much higher than your Standard of living.
Understanding the difference, you may want to see if you can’t better match your Cost of living to your Standard of living to better your Life.
– Dr. Vik, The Culture King