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What is your monthly budget?

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Peacekeeper007
  10/29/2021 16:36 EST

I'm sure it's a question everyone would be interested to hear the answers to.

JimmyLewis
  10/30/2021 04:13 EST

I live on 400-500 usd a month (including food) I have a 2 bedroom apartment *above garage) pic attached with a secure gated front gate and can park my Suzuki inside. 6 units there and 3 vacant.

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JehJay524
  10/30/2021 11:46 EST

Thank you for your reply. Can you please provide a general idea of the area where you live? City and general vicinity. Thank you.

Tsmslf
  10/30/2021 17:43 EST

Jimmy lives in Baguio and loves his city. He's always touting it in is posts and he has a good rental deal as he has expressed himself. No raises in his rent for some years being one of his benefits as I recall.

draks
  10/30/2021 19:54 EST

We don't pay rent, in a very nice subdivision,. 3 bedroom, house, 3 cars, a housekeeper 3 young kids, got no idea how much my budget is sometimes we do ok and sometimes, like right now not doing so good. We all eat well, I have diabetes so my insulin and meds are a bit expensive, have most of our groceries delivered. I have a gym,. Swimming pool, an events pavilion all free.
A really nice playground for the kids, it's very safe, very clean, very quiet, no tricycles etc. We spend a lot I guess but live quite well. Life is for living, I hate struggling, my wife and kids are set up when I kick the bucket. Family life is very important to me, me and my wife never argue, my kids are happy, and go to private international school. We give my wife's dad money now and then. Got savings we don't touch. Don't drink at all now, don't smoke, never touched drugs. Not interested in bars or bar girls. I spend a hell of a lot of time with my kids. But, we will be moving on at least for a while, will go back to uk for a good few months, then Canada, Japan and south Korea, then maybe back here not sure. See what life brings to us.
I am lucky I picked an extremely smart, loyal hard working girl, she makes our life a lot easier. So my budget probably 120k+a month got no idea.

Snowy29
  10/30/2021 23:12 EST

I live on Boracay and love it. I own my own condo so only 2.5k peso management fees and under 5k peso water and electricity. Throw in the compulsory visa every two months at about 1.8k peso and it works out at compulsory spending of about 8.5k peso per month.

I don't drink or smoke and buy fresh food almost every day which me and my partner cook. We treat ourselves to a meal out now and again but mainly just walk or jog the beaches most days, stop off for an ice cold fresh buko at 50 peso each and generally have a great lifestyle. It's a thriving island with thousands of better quality tourists as it's lost it's party island look. Still loads of great bars and ex pats though and everything you need but mainly fresh air, blue seas and hardly any traffic.

You could go blind walking the beaches as every model in the Philippines comes here to pose and update their instagram.

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GoldWarrior
  10/31/2021 03:15 EST

Snowy ~

What can you tell me about house rentals there? Thanks ~

GoldWarrior
  10/31/2021 03:19 EST

Where are you located deaks?

JimmyLewis
  10/31/2021 06:41 EST

Yes, I love Baguio. Met another forum member that just happens to also live here. We had coffee today. This guy is cool. 81 yrs old and drives a 150 cc motorbike.I have a 110cc Suzuki. Rudy is German and speaks several languages. Retired Science and Math teacher. I am also a retired teacher. He's lived here in BC 15 yrs.I am now about 9 and 1/2 yrs. He also retired here because of the cooler weather and lower cost of living. He's married to a Pinay. If there are any members here in Baguio feel free to message me and may God bless the Philippines.Take care all!

Tsmslf
  10/31/2021 13:55 EST

And how much do you spend for each month's recurring expenses. Medical insurance? Travel? Clothes?

Thanks.

twj4241
  10/31/2021 14:03 EST

Hello Snowy,

My Philippine wife and I want to move to Boracay and buy a condo. I think you told me you live in Alta Vista. If so, can you tell me about what to expect to pay for a one bedroom there and if there are many available for sale. Thank You!

[email protected]

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Snowy29
  10/31/2021 22:07 EST

For Gold Warrior

Plenty of decent modern rentals here on Boracay. You're looking at about 25k per month.

TeeJay4103
  11/1/2021 00:37 EST

We own a small home on my wife's land. We own a car for transport.

Because we no longer travel very much because of the virus, our monthly expenses are between 400 and 600 a month.

This includes:
1. Food, packaged goods from the grocery. Almost all fruits and vegetables are from the market or local vendors.
2. Electricity (includes well pump).
3. Internet
4. Eating out
5. Drinking water
6. Misc medicines, none of which are prescribed or expensive.
7. Gas for the car and weed eater.
8. I have an SRRV visa that has a $10 per year renewal fee.

Not included in that average are any major home or vehicles repairs or major medical issues. We use only about 20 to 25% percent of the available budget, the rest is saved.

Money is also set aside in case of a need to leave the RP.

abdulmuhib
  11/4/2021 10:25 EST

We spend about 50K PHP for a family of four. But that's without paying back credit cards. Gen Tri.

Tsmslf
  11/4/2021 20:59 EST

Abdulmahib

How much of your 50k is rent if any and does it include utilities and medical insurance as well?

tlallen59
  11/5/2021 04:59 EST

I read on here guys saying they live on 4 or 5 hundred US a month which is possible but your comfort level and quality of life is obviously reduced. Our family of 4 live quite comfortably on 1500 US a month but we own our house so no rent. If you want your kids in private school and aircon, imported food and good entertainment sources 500 will not cut it.

Flopie133
  11/5/2021 21:19 EST

P160K, we live very comfortably, but have budgeted funds set aside to cover just about everything that comes our way.

gypsyquokka
  11/6/2021 02:07 EST

tlallen = WOW you are talking garbage about people living on 500 USD or 700 Cdn a month. Not so difficult to do and enjoy. The provinces are cheaper than Manila or Cebu areas and even in Tacloban aircon is not necessary. NOT everyone wants to breed so you can send the kids to private schools - your warped outlook of Philippine living. 4 people here live pretty well on 700Cdn and the house is almost paid for. Electric and water are around 1600 php monthly, cable / internet 1750 php monthly. Some imported foods but if you want more = go live closer to the source. SMILE

bbazor
  11/6/2021 02:33 EST

Nobody is talking garbage. A new person on the forum asked how much it cost to live here. Everyone has a different experience and budget. How much you spend does depend on your comfort level as tfallen said. I would assume that the original poster wants to hear different opinions and facts.

abdulmuhib
  11/6/2021 04:29 EST

@Tsmslf: Sorry. I forgot to hit subscribe to this thread.

We pay 16K in rent for a fully-furnished two-bedroom - but since we have toddlers and the 2nd bedroom is upstairs, we basically live in the 1-bedroom. We also have two small yards so the kids can be outside in the pandemic..

That doesn't include utilities. We can't afford expat insurance. My wife has PhilHealth, but that isn't included in the rent either.

abdulmuhib
  11/6/2021 04:31 EST

Tlallen: Yes, if we had 1500 for a family of four with no rent, we could live quite comfortably indeed!

TeeJay4103
  11/6/2021 06:17 EST

I believe the question was about a budget, Each and every individual's needs and wants differ, which includes what each would describe as comfortable.
In our case, we have no kids and live very comfortably in an 88 square meter single-story house. We ate out at Santi's deli just today, a great meal in and a good atmosphere.

Our idea of entertainment no doubt varies considerably from many others, that's to be expected as we are all different. We enjoy movies, the park, a ride in the country with a stop at a local cafe, and just seeing new places around the area we live in.
In better times, we traveled more often and spent money at resorts, on airfare, hotels, etc., which bumps up the 400 to 600 a month budget to around $800 to 1000 a month.
We use our AC when it's hot, and enjoy our home and its peaceful surroundings. Just sitting on the porch in our two rocking chairs and chatting is relaxing and peaceful.

So if you own your home and car, you can live quite comfortably on $400 to $600 a month, especially if you have no children to support.

If you're happy in your home and in your life, and you've found a degree of contentment, then you have most likely also found a level of comfort.

We have a friend who just sold a house in Tagaytay Highlands that he built in 2013 for $1,000,000 U.S., some friends would chide him about it being so large that you could get lost in it. It housed two people.
He was not happy here, he disliked the food, the red tape, the traffic, the corruption, etc., and he dwelled on it to the point of distraction.
He had a monthly budget that many would drool over and was simply not happy, though he was comfortable.
He just sold the place and took a $160,000 loss on it and has returned to the states. You can already see and hear the change in him and his wife.
Maybe now he can find a little peace and contentment to go along with that comfort.

surfingcebu
  11/6/2021 14:24 EST

bbor- is correct , everyone has different budgets and levels of comfort . I would assume the person wants to hear both ends of the scale , not a Mode- Average . I think it would be very important to see all budgets and feeling on why and how . BTW , many of my posts dont even make it to the board for one reason or another - the whole board is baffling and getting overly political , more of a friend-ocrasy . Personally I get emotional at times and passionate , BUT I always respect a persons opinion on things - he is entitled to it . Doubt this one will be making the board either - lets what courage lies ahead . 1500/month would be my personal minimum in the RP for lifestyle and small emergency fund . So many people live on VERY low budgets here , some need to as they don't have much funds coming in ... not a thought about emergencies or medical things . I dont live this way . One must have a nest egg for 'things' that crop up , IMHO . Again , just my opinion .
Surf !

ACEPoolPlayer
  11/6/2021 17:52 EST

Surf,
Many of your post are definitely helpful, a lot of others not so much. It's hard to follow if you are loyal to the country that you apparently spent time in as a youth or are you discouraging expats for even considering retiring in the Philippines. You are hands down the most active poster. If they had one, you would have already gotten the award for the most posts. Are you saying there are still many more posts that we are not seeing?

ACEPoolPlayer
  11/6/2021 17:57 EST

Sorry off topic. Yes it's apparent that depending on your lifestyle a single person can live on as little as $400 a month and a family with younger kids going to private schools could live on $4000. It really all depends on ones comfort level. Big city, small quiet province....

Earnestndeavor
  11/6/2021 18:56 EST

Ace- unnecessarily harsh and petty.

Respectfully, Earnie

ACEPoolPlayer
  11/6/2021 19:14 EST

Interesting when the topic came up about accidents and dealing with police respectfully yours who was a big advocate in the past was quite. Respectfully.....

surfingcebu
  11/6/2021 20:16 EST

Ace - Sorry you formed the wrong impression. I am very "loyal" , in your words, to the Philipines. Love the country, but its certainly not for everyone - it takes a special 'cut' to survive and prosper here, and it comes with dangers and caveats too. Maybe I should be more pollyanna , and idealist... or a RP utopian visionary? . It certainly would be easier just to type mush and "Nothing to see here folks , carry-on! " ... but people need hard advise , and plenty of positions, to form their own, not my, opinions. I want the new people and old to have my cold hard facts and opinions as I see them, and peel back that onion on why , and 'how come?' .I dont want to lure people here thinking its a "cake-walk" - because it is not; if they are looking for this than maybe Singapore,Korea,Japan or Thailand in the region would be better suited to them if thats what their looking for- plenty more infrastructure and formed justice system, medical and so on. Sure, I know it , it takes much less courage to nod and say "never seen it, never heard of it- All good here come anytime! " and walk on by ....but thats NOT my cut, nor factual on many of the subjects(police, property, Hospitals, dentists, Drinking, bars, , beaches, late night drives,Girls, etc...) . You get my passionate facts , as I see them and have experience them since young. Participation? thanks , I try and participate . If you get tired of the genre, just delete it . You have my permission. It won't offend me in the least. Do I want the Philippines to prosper ? This is my childhood dream as a matter of fact! I work/volunteer tirelessly in the RP for the poor, community groups and donation gathering for the people here. I guess my actions my speak louder than my words in this regard?. Im glad to hear "some" of my posts are helpful( to bat 100 is tough if not impossible...even Ted Williams- My favourite Ball Player - could 'only' could manage .344 ) ..... the other ones , well, just delete them and rack them up to passion for the country , it people, and trying to convey the facts and opinions as I see them and have experienced them. As Ted Williams said ..." In life and Baseball, you have to be ready for that Fastball- not surprised" . Thanks Ace !

Surf!

bbazor
  11/6/2021 20:25 EST

ACE and Cebu, I agree with both of you. Anyway, the bottom line is, you can live here on quite a bit less than many other countries. However, it depends on the lifestyle. I eat some Filipino food, but not a lot. One of the reasons why it is so inexpensive is because the serving sizes are very small with a large portion of rice. Typically, it is not very healthy. The meat is very fatty and they use a lot of salt (way too much salt). If you do your own cooking, you can eat healthy on a tight budget The same goes for housing. If you want an inexpensive place and willing to live like the locals, you can do that. If you want western style housing, it will be quite a bit more expensive.

TeeJay4103
  11/6/2021 21:51 EST

Living on a small budget does not necessarily mean that you do not have a substantial nest egg, emergency funds, etc.

In our case, our lifestyle is what affords us a substantial nest egg, and emergency funds for unforeseen emergencies. It's that lifestyle that affords us both. Living prudently according to your available resources is a wise thing to do, here or anywhere else in the world.

Some may spend a lifetime working in and around their homes to invest and save for a comfortable retirement that may afford them the opportunity to then travel and see the world and afford a comfortable home life.
Others may have spent their working life in a position that required constant traveling and seeing things that others only see in their retirement.
For me, after spending most of my life traveling, a comfortable home life was what I dreamed of in my retirement with limited travel in the country where we have built that home, in which, we are quite comfortable.

Living simply and conservatively does not necessarily mean that the person doing so is not financially secure or comfortable in their chosen lifestyle.

Earnestndeavor
  11/6/2021 23:33 EST

Ace, I’m surprised you would bring up the accident. After all it was you who injured someone in an accident, ran home and hid them tried to say that’s what foreigners should do when involved in an accident.
Now let’s talk about respect.
Earnie

JimmyLewis
  11/7/2021 01:24 EST

Well, a person can spend as much or as little as they want. I watched a video on youtube and a couple in the Manila area with no kids spending 60k pesos a month. I am single and save about 200 USD a month not having a GF here. I have a very meager pension and am still able to spend just half of it. Kids cost money. A good life costs money. I have a great life here on 500 USD a month. Even able to help the locals here when I see the need. Cost of living and individual circumstances dictate how much money you spend. I have a nice 2 bedroom apartment(pic attached )2 bedroom in a gated 6 unit complex and pay 7K pesos a month as it is owned by an American and his Pinay wife. Have lived here for over 8 years and 1 year down the street when my Ex and I were living together, Many guys come here with their 2-3 pensions and buy property, open a business(been there done that in America) and they want a better life. That's fine but I have never cared much about all the STUFF. I prefer a simple uncomplicated life, no kids, no worries and just enjoying my retirement in peace. To each his/her own! May God bless the Philippines.

JimmyLewis
  11/7/2021 01:26 EST

Right(ride) on BBZAR!

JimmyLewis
  11/7/2021 01:03 EST

TJ-Great point buying and renting. Many come here to spend their hard-earned money and have bad experiences. I have rented here 9 yrs plus and if I don't like the circumstances where I live I can just find another place, I guess most don't consider just that 1 factor when coming here. Of course, the wife or the GF always wants to have a house so the foreigner buys it for them. A lot of things in life are just common sense. I knew 15 years before I retired what I wanted to do and how I would go about it. Teach English In Korea 7 years rent-free, save my tax-free monthly salary every month, do the same in China for 2 years and then retire in the Philippines. I decided on the Philippines because I knew it would be easier retiring in a 3rd world country because if the majority of the country lives on so much money then I knew I would be safe on my monthly pension amount and not have to worry about going broke. I have my next egg in the USA in case I need it. I have always been a planner and planning and preparation works well every time. When I was in the states 2001 . I spoke to 4 different schools in Korea on the phone and chose the best one before I decided to travel to Korea. Most of the schools ended up awesome and I taught at 3 of them Ulsan, Osan, and Daegu. The last one was a dud! We all experience a little bad luck now and then. I quit that school in Daegu and went to Shanghai and taught at a university from 2010-2012. Close one door and open another. My last teaching for 2 yrs was awesome(pic attached) before retiring in PI where I taught 6 yrs before the covid hit. Teaching is the only passion I have left and that's put on hold. Just waiting for the next surprise around the corner.

JimmyLewis
  11/7/2021 01:17 EST

Surf-I appreciate your comments. It's always better to be safe than sorry. I truly wish I would have studied the Philippines much more before retiring here. I made my decision solely on two factors-lower cost of living and the beautiful women. Big mistake! Am a bit disappointed at myself for not planning and researching more facts about the Philippines before I retired here? Just live the remaining years out is about all I can do now. Travel some other countries for the experience if we get past this pandemic. Life is still good. After we retire we just go with the flow and play it by ear! That's about the only feasible plan I have now.

JimmyLewis
  11/7/2021 01:35 EST

Well said TeeJay!

TeeJay4103
  11/7/2021 06:14 EST

Jimmy

You CHOOSE to rent, we CHOSE to build, just a matter of choice. I do agree that renting for a couple of years for a newbie with limited time spent outside his or her home country is a wise thing to do. If the choice is then made to build, then build and plant that garden, farm, or just relax and see the sights from the home base.

What amazes me is the people who seem to think that any decision to build is a bad one, and simply because they know better. Wow, how arrogant can you get.

What makes one person or couple happy may make another person or couple miserable. We are all different and in many cases, our experiences in life, our views, our likes and dislikes all differ,

I lived out of a suitcase for a long time and love having a place I call home with my loving wife of many years. A person with whom dreams are shared and some have come to fruition. One of those is our home in the RP.

Elevensys
  11/7/2021 09:29 EST

Lapu-Lapu here.

We live in a new-build subdivision 3 bed house. Link below shows a house like ours.

Rent, 15K peso, excluding car and air travel to from the UK, we live comfortably on 65K a month.

Some months more if we go out travelling, other months, not so much.

We don't economise on anything.

If I didn't have a pinay and lived in a province, then I would get through 25K peso a month.

Example property for 15K monthly:

gabrielrealtybrokerage.com/?property=2352

Tsmslf
  11/7/2021 16:47 EST

I followed your link and thought it was a good site but only found one residential property for rent - a house for 37,000 php. Everything else was for sale or rent to buy. They had some great videos and market properties well.

Thanks for the link.

Rmorris301
  11/7/2021 17:03 EST

I live very comfortably on about 1500-2000 a month. We own 2 homes and over a lot of land and keep going. Both our homes are aircon. One in San Carlos City, one here in Bacolod area. Land in between. We have a car and 2 motorcycles. I live well and enjoy life.

Dutchmen2003
  11/7/2021 19:33 EST

What is your monthly budget in ? Pesos? Monthly pension income ?109000.=
Electro bill P5000, Household groceries P12000, Rice 50KG x38=1900, Gasul 2x1100=2200, Laundry 1100, Drugstore generics 1000.=, Beer 2000.=, Dog food 2500, Farm crew salary 37000, Live stock fodder 26000, Donations 4000, Crew bonus savings 2000, (Total 94000)
Financial planning November 2021 ?86000, December 60 native pig ready for sale (x ?5000 each) Phil Health Yearly 8000, Farm constructions & repair Yearly 68000, No farm insurance, No car, No water bill. No mortgage, No encumbrance, Farm 3 hectares. Crew free housing in dormitory. Typhoon December 2020 damage two barns blown flat down. December 2020 total computer crash. Typhoon 2021 pinoy saying “wait lang”. Greetings to all.

surfingcebu
  11/7/2021 20:20 EST

RMorris- really like Bocolod … and San Carlos huh? Gezzz I like San Carlos. Nice ocean board walk area a- what’s with that big new hospital there ? Is it good?
And that area with wide streets lik a little bit of Canada and USA in the middle of town, near the park , half developed. What’s with this ?
Great area for an expat to settle that doesn’t need a huge town or tourists…..

Surf

Snowy29
  11/7/2021 21:08 EST

Take an average of everyone's budget and triple it if you get a wrong partner. Knock a third off if you get a good one. I know a few who live in identical locations and their outgoings vary massively due to quality of partner.

A good partner will cook and clean, a bad one will want to eat out daily, forever ordering on Shopee want the latest phone and generaly sit on her butt and click her fingers.

Asawa
  11/8/2021 14:48 EST

Another consideration:
A budget depends heavily on Lifestyle.

Always consider the location and lifestyle of someone when you compare your budget to theirs.

If you will be retiring with significant assets, there may be some value to seek out other Expats with similar savings and means.

Money can solve many problems, but levels of wealth can bring a whole host of new issues. Means and Lifestyle impact the opportunities and the challenges that an Expat will face. Depending on how much savings or income you have, the strategies, approaches and rationales to many things can change (because money buys options).


I have also noticed that many of the more affluent Expiates are shy, humble, and very privacy-minded for security reasons. It is worth the effort to seek out their perspectives and insights if most of the existing advice does not resonate or you do not want to live on a small budget.

One recurring theme (if you talk to more affluent Expates): In some regions of the Philippines, there are limits on how expensive or extravagant a lifestyle can grow. At some point, people have more money than they can spend on properties, goods, food, entertainment, and such in that region. (IE: The best a region can support is often the “Best” that can be found at any price. And, you need to be careful about broadcasting wealth by exceeding a regions standard for luxury or bringing in rare goods from abroad that "Raise the bar".)

Other themes involve the how to find, build or acquire real-estate… and how to manage, structure and move wealth from abroad.

I don't think we have many of those folks (active or visible) on this forum, but I did want call out the existence of expats who are not constrained to traditional budgets of $800-$4000/month.

You’ll probably have to strike up individual (offline) friendships if you wish to discover such people or learn from them. Public forums (even anonymous) are just too dangerous with very little benefit. They move in different circles.

Disclaimer: I'm not such a person, but I aspire to be! (I talk with a few wealthy retired Expats who share their wisdom and cautions. I also try relay some of their better advice from time to time. It's useful to understand diverse perspectives!)

-Asawa

Earnestndeavor
  11/8/2021 17:27 EST

Asawa- An interesting observation and I think you are correct. The area where I live has a large number of expats and the sub-groups they occupy are often based on finances. Not in a discriminating way but simply because they have different wants and needs. But rich or poor remember “ It’s more fun in the Philippines”

surfingcebu
  11/8/2021 18:28 EST

Asawa- you make some very valid points about the movement of money and lifestyle. For myself, I’ve made some great investments and have endured many hardships in order to be self-sufficient, let’s say. However, you would never know it. I don’t drive a Toyota Land Cruiser, on purpose I don’t wear a Rolex, on purpose I don’t have fancy shoes or a visible bodyguard, on purpose. I blend in very very well and on purpose. As in the west, south east Asia is no different. If they find out you own companies and wealth, they treat you differently, and this can give rise to a huge security risks as well. Although I can afford a much higher standard of living then I exist in, I don’t for the simple reason of alienating myself and the local people. I borrow rice from them on occasion and I ask them to buy me a Coca-Cola on occasion just to reinforce the fact that I am their brother not their keeper.
Being in the west for six months a year, I have all the trappings that I need and all the material things that I need. These material things don’t make me happy at all. Volunteering at the village hall, working the checkpoint, Raising funds for the local rule hospital, and helping people in the field makes me feel alive. Truly, it’s more fun in the Philippines.
How many millions of dollars Canadian or American do you consider rich? How much does one need to live a for filling life? Basic needs and extras are relatively cheap in the Philippines. $1000 USD per month can buy you all the basics and a few hundred bucks a month more can buy you extras and trips to inter-island destinations and such. I really pity people that measure life’s happiness by the number of zeros in their investment or bank account. Although I have it, my name means very little to me.

However, if people would like to discuss finance, moving money, or other intricacies, they can private message me if they wish. Like I said before, I keep a very small bank account in the Philippines mainly because their banks are the polar opposite of Geneva Switzerland banks. Huge risk and shifty managers. Please guys, don’t leave a huge deposit in a Philippine bank. Do what the locals do and keep it off shore in at least a BBB credit rated bank. As for Investments in the Philippines, that’s a can of worms. It is very very difficult unfortunately to do business in the Philippines and many hurtles to overcome. Any huge capital investment is subject to seizure. Therefore, I wouldn’t recommend any huge capital investments. Sadly I wish I could say something other than the truth. The country needs huge capital investments from the right countries. I have a partnership in a international call centre in Manila, mostly human capital. The fix costs were the computers and dealing with the voice over Internet infrastructure SMART and Globe people and lease of property . If things go sideways, I lose 5% of 300 computers. It’s really not a big deal to me. The return on investment in one year would take care of this time to 100. I have about 2000 applications all the time. I pay about seven dollars to $10 more than any other CALL CENTER job that I know of or super market job. It comes with limited benefits as well for their families. Now, investing $10 million of capital into a project at 20% partnership and having that seized, now that would hurt. Unfortunately it happens with some frequency. Therefore any sort of investment Has to be capital lean , ROI rich . Simply put, fixed capital costs are not safe. Whether it be a bank, or invested into infrastructure or such. What the Philippines has is a natural hard-working workforce, that speak English, and a relatively high education. These factors can be leveraged in all sorts of ways, but the paperwork is horrendous and so is the timeline. A Philippine national will likely have to be majority shareholder as well or other arrangements made. This can make life interesting as well.

Surf

JimmyLewis
  11/9/2021 02:29 EST

Well said Snowy!

DavaoDelSur1
  11/9/2021 11:38 EST

Now I know Surf's wife's handle , Turf.

surfingcebu
  11/9/2021 11:56 EST

Davao - dont like Turf . I prefer 'Exotic Hardwood' , If asked . HA!! ;)

Surf !

amcan13
  11/13/2021 03:15 EST

I think the basic assumption is that you can live on what you have maybe not in the location you may want.
I went the route of building a house over a few years well before retirement. This way I funded the big ticket items like land and construction while I was working. Now I have a house the way I like for zero per month.
I also look at the costs I no longer have like insurance. For medical PhilHealth is a good option to save on costs.
I treated retirement the same as in my country, setup the rainy day funds and then live on the budget you have.
I would recommend that if you are married to Filipina the her family is an expense you have to agree on before you start the adventure. I made sure to plan on enough room in house for sleep overs by kids all the time.
You can also consider a maid since if older like me it is hard to clean it all, do laundry, cook everyday. The expense is low but we follow the government recommend rates.
I will say electricity and internet is just the same as in USA but cel costs are much better.
I found it was also easier to have my wife manage the household budget and I ignore it. I keep a small budget for the car and house repair that I manage but with the labor being so reasonable I usually run an excess on my budget. My wife spends what she has but as long as I am fed and have my laundry done I don't care.
I think the most important thing for me was the rainy day fund which will really cover medical or a new car. Having that setup while you still are working makes it so much easier.

tlallen59
  11/14/2021 02:02 EST

Amcan13 your story sounds just like mine except I do the laundry on the rooftop.

mootpoint20
  11/17/2021 11:25 EST

"...I'd say $1400 dollars is the minimum monthly necessity...!" A lot of words but no credibility.

surfingcebu
  11/17/2021 12:37 EST

Moot, I think Jimmy was right saying 1400 was a round number. If I remember his note correctly there were a lot of caveats with respect to lifestyle and what city you lived in. What is your thoughts on the round figure?… that would lead to a comfortable life with some enjoyment? people want to know what your feelings are not just an opportunity to slag somebody. you always have some interesting things to say. And some great one-liners.
Surf .

mlc11kenney
  1/9/2022 12:36 EST

Contemplating to live there when my husband retires. I am a dual citizen, Philippine American. What is the status of the husband of a Pinay wife? Do you have to renew visa like some expats? Spousal visa based on a Pinay wife? Thank you.

Gamma15
  1/9/2022 12:45 EST

I will be buying house in the Philippines for cash. Not quite sure what you mean by what my monthly expenses is? If I sell my home back in the US as I am planning, my monthly expenses will be near zero. Any residual expenses (also will cover expenses for a home we already own here in the Philippines) will be covered by additional rental income from another property I own.
I am open to what my monthly budget can be. I know it will be low since we will own everything in the Philippines with no loans.

surfingcebu
  1/9/2022 12:47 EST

MLC - Spousal Visa based on wife having a passport in RP is the short answer .... easy enough . Your local consulate can arrange for you in a snap ! BUT the real question is Can you stand goign from drinkable water from the tap , to harsh 3rd world conditions ? Have you been over here lately to see the economy deteriorate ? Do you visit often ? Its nice to near family , BUT what does with it may be different in the longer term. dont sell your place in the USA .... for at least 3-4 years after you try the transition.
I spend 6months in the 'west' and in the RP . Best balance for me ....and I grew up there as an expat kid , so totally familiar with the country .....
Hope this helps , God Bless
Surf

surfingcebu
  1/9/2022 12:55 EST

GAMMA - so yoru ok to donate you house and to your wife and her family with ZERO financial interest in it ? Risky , even in the best relationships .
I hope your familiar with living here long term ....as it can grind on you . The best solution is usually to rent in the RP . Super cheap and you could also rent your vacant place in the good old USA too for income ? I see too many BUY in the RP and regret it 3-8 years down the road - too late then . You place in the RP will key Never go up in value too ! (90% of the cases )

Surf

tombalita1
  1/9/2022 16:53 EST

Surf, have had a few Navy friends that retired in the Philippines at age 40. Sold their house in California, brought a house in Cavite or Pampanga. 5 years later they’re back here renting and looking to buy s house and start over again. The house in PInas is now occupied by relatives on rent paying relatives. Think you’ll ever occupy it when you REALLY want to retire on your second go around? The rich Balikbayans coming home to kick out their relatives? See how that goes! Rent your place back in America, don’t sell it! Don’t limit your options! IMHO Tom

surfingcebu
  1/9/2022 19:17 EST

Tom - Your bang on ! I tell this to expats all the time , rent here , Dont buy . rent is 400-750 per month for ALL that you could want and tastes . Why tie up your capital in a money losing house , ( as most loose money ) , and you CAN'T EVEN OWE THE ASSET ! They must have holes in their head ...not even a 50% cut of the property .....hence the Filipina wanting the BIGGEST house/property money can buy... Iv'e seen this story play out 200 times . guy meets girl ... buys house ... guy gets banned from property and no legal recourse . I can only tell them .... It would make perfect sense to rent a nice space for 600/month then invest your nest egg of 500-700K IN THE WEST ( say at ~8% Div return ) Live off the 60 K in tax efficient yield and ROI , pay your rent out of that @ $7,200K . Net take home return after rent Aprox 53K . Build a house - Loose everything .

I perfectly know at times things work out well ....BUT not usually . Usually the guy expat looses everything


Surf

Gamma15
  1/9/2022 20:27 EST

Everyone has their own life style. I would not really wan to live in a place for only $400 to $500 per month long term. Have done that. A few times before.
As to selling my house back in the US, I agree it would be the better financial decision to keep it and rent it out. And rent a great place for even $1,500 or more per month.
Appreciate the feedback.
BTW I have been married to my Filipina wife for 4 1/2 years. She inherits everything after I die. I have 2 adult children from a previous married and are extremely well off so really doesn’t matter to them what inheritance they get or don’t get.
Also my wife’s family all do well here and don’t need financial help or a place to live.
Best to all for a great 2022
Alan

jeffdavfla
  1/9/2022 23:23 EST

@Kenny,

My wife is also a duel citizen and I have a 13a visa. I would suggest your husband applying and receiving a 13a Visa before coming to the Philippines as it is a permanent visa, if you wait to apply after you arrive it is a temp 13a visa for a year and then you have to apply for a permanent one... Another Hassel. I would also suggest that once he gets here apply for an I-Card / resident alien card. You will need your passport and something that shows a permanent address. This will allow him to open a checking account in the Philippines. Another hint is to make sure you purchase a printer with a scanner as a most everywhere they want you to provide copies of your ID and other paperwork. It is a lot less hassle if you can make copies yourself.

I hope this info helped... Good luck and happy retirement when you come. - Jeff

JimmyLewis
  1/10/2022 01:21 EST

Great advice Tom.Better to be safe than sorry.!

amcan13
  1/10/2022 23:26 EST

There are some great points of view in this thread.
Single or married, kids or no kids are key factors. Then there is the family of the spouse to budget for in the equation. Working (pay check) or retired is a biggie.
Having not been single for a long time I don't think I even know how to budget for that any more. I know I lived on a lot less than I do now and I was not home very often so the living quarters were functional.
I am married, to a Filipina, with a new baby. So my budget is way big. I have to have a car and need a maid to help with house work. I also need a handyman, guy that sleeps on site to ease wife's mind on safety, since we stick out a bit in town.
It took me 5 years to prepare to move to Philippines. First we had to get the land and then build the house. It took years to build, paint, get furniture/appliances and get all utilities working.
So just retiring and thinking you can just move here is naive. It took a year just to work out how to move the money and deal with US residency, and taxes. I got a bank account without anything more than a passport because my wife chatted up the manager and we used the bank to move the money to build the house.
As far as budget my opinion was to live on what I would have in the USA. This is retirement and no time to save money, it is time finally to spend it.
I also think that going in with with planned exit just makes it easier to fail. If you don't know your wife or her family you are in trouble no matter where you live. Family obligations always come up, plan for it.
So for a budget I think a good starting point is $5000 a month for a family. You will need to have maybe 5 million peso set aside for medical emergencies. Then you have to factor in a new car in 5 years and travel for a family back to visit the family in USA. Maybe another $10000 to $20000 annually.
That is my goal, we will have to see how close I can come.
The people saying come for a while and rent are very wise. I actually took time to find other foreigners living in my target area and visited or rented their homes. I really got a good idea what designs worked and what didn't. I knew the traditional Filipino house layout was not for me but I am glad I lived in a few other designs because it saved me from wasting a lot of money.

ACEPoolPlayer
  1/11/2022 07:22 EST

amcan,
Very good post but not many expats can afford what you are planning. $5000 a month, then $10K-$20K to go back home every year? If you are retiring on $70T-$80T USD a year you are better off staying in your country and visiting the Philippines for a bit every year. That's just ridiculous in my opinion. Unless you are living like a King and renting for $2000 a month, $5000 is just a crazy number for a monthly budget in the Philippines. I guess if you had 5 kids all going to private/international schools...

tombalita1
  1/11/2022 08:13 EST

Amcam, great post! However, I would clarify the statement, " I also think that going in with planned exit just makes it easier to fail." I would say to have an exit plan in case of a political or natural disaster that puts you in real danger. So it is really an exit plan that one needs to consider, and not a "planned exit". All the best, Tom

tombalita1
  1/11/2022 08:24 EST

Hi bbazor, appreciate your post. The one who posted, "NOT everyone wants to breed so you can send the kids to private schools - your warped outlook of Philippine living." is exactly the type of posts that he's been sending for the several years I've been following the forum. He doesn't post often, but when he does, it's always attacking someone. IMHO

Snowy29
  1/12/2022 22:06 EST

In my experience a healthy retiree with his own condo etc, wife/partner with a nice family and no kids can easily live on 80k peso per month without struggling, three good meals a day, eat out now and again and have a reasonable social life.

The same person with rent you're looking at 95k plus depending on your standard of accomodation, anything over 25k in my mind is too much.

A less healthy retiree who likes a drink, has a wife from the bar and a begging family can easily run up 150k per month.

Once you hit the 200k mark you're either eating out at nice restaurants a lot or someone is screwing you.

I live 100m from another ex pat. Identical lifestyle but with different partners, neither of us drink or smoke and eat in most days, his difference is he sits with his mates for a coffee most days costing him a few hundred peso. Apart from that we are identical.

Throw in his partner she has an allowance of 30k per month, likes the spa and he supports her family. His budget is easily 60k plus more than me per month. My partner doesn't get an allowance, we share the house and if she needs shampoo etc she gets it, she probably adds about 5k to my budget monthly but reduces my outgoings by cooking and cleaning by 15k. Her family don't expect a peso.

bbazor
  1/26/2022 21:35 EST

Ignore ACE?: Sounds like a personal beef. I have been on this forum as a member or guest for well over 10 years. I have learned more from ACE than anyone. He used to be more involved. No need for personal attacks. Please keep contributing ACE and ignore the childish attacks.

bbazor
  1/28/2022 19:44 EST

That is an opinion. It has nothing to do with this forum and topics. This topic is titled "What is your monthly budget". It is childish and has zero to do with this topic.

joncan
  1/28/2022 21:54 EST

My budget is 1200 per month

Raggz
  1/29/2022 04:53 EST

Hi all! My wife and I have two little ones, we have been in the same rental in Bislig for 2 years now. Our monthly budget is roughly 50k, tho we've started building a house now so our budget is out the window for now. My point is, a family of four can live quite comfortably here and eat well everyday on a smaller budget. I read a post here about pinay food being unhealthy? I suppose it could be if you eat beef and pork all the time. For us it's mainly fresh fish, chicken fruits and vegetables, all reasonably priced at our local market, and about as healthy as you can get. Best wishes all...

draks
  1/29/2022 05:22 EST

My plan to come here took about 3 months, lived on a boat, sold that and all the equipment very quickly, booked a flight packed a bag and came here. Spent a few days to find a cheap apartment when I was here.
Had the advantage that I had been here many times between 1995 and 2010. Was very easy for me to settle. Now married 3 kids, didn't expect that, but love my family life. Lovely kids, fantastic wife, only drawback has been this bloody covid.
I didn't come here expecting paradise or being anything like living in the UK. Had problems here, but basically it's been good. Never have been much of a planner, can be very impulsive, and face problems as they arrive. Still don't make big plans just go with the flow.

Jamieobda
  1/30/2022 16:16 EST

Posting photos of actual houses you live in is quite helpful

Gingert76
  2/1/2022 05:58 EST

Its amazing how people debate different budgets (or argue in some cases), the thing for me is no matter what my budget i can find a lifestyle that suits in PH.

It all comes down to where you want to live and the type of lifestyle you want and visit a few times to understand things and then chat to expats living in that area and understanding their lifestyle to easily work out what you can and cant do.

Everyone is entitled to live how they want, i am just about to move and settle there and get married and have everything already budgeted and know i can afford the lifestyle i want for now and when things change with kids, school, insurance, medical emergencies etc.

if you can live of $1500 and enjoy your life then great, if you can live on $5000 and enjoy your life then great.

There isnt enough room on here for people do detail their full life style and budget and to be fair, why should they but there is lots of great guidance but nothing beats boots on the ground and chatting to people who live in the area you want to live in

NextAdventure
  2/1/2022 12:02 EST

I don't live there but I am planning to. I've heard from Youtubers that 750 to 1000 US a month is enought for a single person. It can be more than enough. Depends on where you live and lifestyle. I heard places like General Santos are much cheaper to live compared to other places.

Asawa
  2/2/2022 11:49 EST

NextAdventure,

My family lives in Mindenao, and I can confirm the cost of living is much lower.

From 20 years of family gossip, I will stay that the Island of Mindenao is an Island that hovers around 51/49 Christian/Muslim. Generally speaking. The Christian population centralizes along the east coast.

General Santos is a mixed area that has had a higher-than average number of terrorist incidents.

If you are interested in Mindenao, I'd encourage you to skim this closed topic that centers on the island:
https://www.expatexchange.com/expatguide/275/3434364/Philippines/Expats-Living-in-Philippines/Travel-advise-Northern-Mindenao-Ozamis-CityLanao-Del-Norte

I won't rehash content, but I think you'll find the history interesting. If you stick to the Davao area or northwest, You get both cost of living benefits and safety.

-Asawa

NextAdventure
  2/4/2022 04:07 EST

Hi Asawa,
Just after your opinion on General Santos. I plan to be there in 2024. My Phillipine friend (potentially gf) is from there. I know her sister and cousins too. All from there. My American friends keeps saying that region is dangerous. I guess it is certain parts of Mindanao that is dangerous. I don't stand out so much so it might be safer for me. I'm mixed Singaporean/English. I probably look half Chinese or could pass off as a Phillipines person. Anyway interested in your thoughts. Cheers, Chris

Asawa
  2/4/2022 12:30 EST

If you do not stand out, You may be fine. It would not be in my top 10 picks for the Island. Treat this all as well-intentioned opinon:

From 1990-2010 the folks who guided and mentored me referred to Mindanao as the "Wild West Frontier" of the Philippines.

You know how you hear about terrorist training camps in the Philippines? Central Mindanao is historically where all of them are located. On Mindanao you have the historical home of Abu Sayyaf, as well as the Moro National/Islomic Liberation front. There is also the Maute Group (ISIS), and the Rajah Sulaiman movement.

I have heard older expates joke, that Philippine Governments prefers to keep them boxed in (but present) in Central Mindano. This allows the Philippine Government to collect aid to fight the terrorism. Folks go on to say, the government is careful to never win or stamp out the groups -- because they could no longer collect aid to battle them. I've even heard some folks tell stories of how the folks who fight them sometimes let their weapons and resources fall into their advisary's hands so they continue to have someone to fight.

All that said, you would be wise to be very security minded in your travels to that area. In the past, most groups avoided US Citizens because of fear that "US Military Observers" would lead joint raids to free any hostages. So, those groups focused on German, Chinese and European folks in the 1990's through 2010.

Many locals dismiss the problems encountered by foreigners as their own stupidity. (IE: Over Zelous Christian Missionaries going into the Jungles to convert Militant Muslims. What did you expect?) Even when some folks were taken hostage, I recall reports they were treated fairly well. There was even a rumor that the Missionary executed a years ago died of natural causes while in captivity, and he was beheaded post-mortum because the captors figured they were "screwed anyway" so they made the best of the disaster.

I am unsure what the current situation is like now. I'm mostly sharing old impressions of things I've heard of 20 years on forums and from family members in Digos City.

My wife spent several summers after highschool working in a Sardine factory while staying in a boarding house with friends in General Santos.

My wife has been in the USA for 20 years, and her perspectives have broadened. She is no longer especially risk adverse, but she is very nervous about that city. When I am in the Phlippines and I've asked, he says I can never go to General Santos.

She says still swears it is one of the two most dangerous areas in Mindano. The other being that narrow connector in Zamboango Peninsula that connects the two sides of the Island.

I can't say she is right, or that you'd be unsafe. I'm merely relaying what I've heard. Run it by your girl, and get her expert opinion. I think it's been at least 3-4 years since there were bombings in General Santos Markets.

-Asawa

Metalpipe
  2/7/2022 11:04 EST

@Rmorris301 Bacolod? That's where I'm heading. See you in September (Covid allowing). My budget is $2300 for life. I'll be sixty. I've got my eye on a 33 year old cutie from the province. She'll be going to school, I'll be tending the garden. Perfection!

Talako
  2/7/2022 12:12 EST

Interesting, I'm retiring this summer to Bacolod. Seems to be a few doing the same

draks
  2/7/2022 18:13 EST

Metal pipe,
Your 2300 is ok at the moment but if there is no increase, then your standard of living will drop every year, especially after this pandemic, Philippines is suffering badly financially, I am sure the cost of living is going to go up dramatically as inflation etc hits. Your 2300 a month will buy less and less, your paying for schooling for your gf, that's gonna take quite a slice from your money.
I would be a bit concerned if I didn't have a yearly increase to be honest. Life here is cheaper at the moment, but I do expect an increase in costs. Philippines is cheaper than uk for me but it's not cheap.
Don't fall into the trap of paying your gf and her family a good proportion of your money. I wish you good luck. I think your going to need it somehow.

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