Colombia Forum

fecherklyn
Joined 2015
Posts: 1382

4 months ago

Prices & Costs in Colombia

4 months ago

Partly because of my past professional functions I am something of a ¨statistics freak¨ and I try to keep my now retired mind busy by treating our household costs much as I used to monitor corporate financial accounts. I am helped in this context by using financial accounting systems that I borrowed from my previous employers and I spend a maximum of 15 to 20 minutes every day in compiling our household ¨accounts which now extend over the last 20 years.

So, if you want to know how much costs have increased in Colombia over that time period, just ask me and I will bore you out of your pants.

Here are a few elements regarding this 2023 financial year as they effect MY household. Obviously, I will not disclose our precise costs, but they are shown below in percentage terms. These figures only state something about my household which may be very different to yours. We are an elderly unit of 3 persons, so our statistics will vary considerably with those of you who are young, single and living on a shoestring.

WHAT TYPE OF PAYMENTS?

Over the last 176 days, since July 1st, our household made 358 payments, an average of 2 per day:
72.7% in invoiced payments, and 27.3% on a cash only basis.
The invoiced payments contained Iva at an average rate of 8.5%

WHAT WERE THE MAJOR COST AREAS?
Household costs accounted for 41.3%
Healthcare Costs accounted for 26.3%
Optional/Personal costs accounted for 19.6%

Below is an explanation of the components of these major costs:

Household Cost:
Household Internet,Cable TV,Telephone, Antivirus
Household Accessories/Appliances/Furniture
Household Furniture
Household Utilities - Electricity,Gas, Agua etc
Household Costs inc. Food, cleaning, etc
Household Repairs/Maintenance
Household Insurance
Household Condominium
Household Predial, Municipal Costs
Household Maid, salary, holidays, primes, cesantias

Healthcare/Medical:
Healthcare: EPS Sanitas, 3 persons
Healthcare: Prepagada Colsanitas 3 persons
Healthcare: Dentist
Healthcare: Doctor
Healthcare: Optician
Healthcare: Pharmacy
Healthcare: Hospital Clinic
Healthcare: Lab Tests
Healthcare: Co-Pago

Optional/Personal Costs: clothing, holiday/travel etc

If anyone is interested, I will be happy to to answer any queries.

William Russell

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