Can I Really Live On $1000 A Month In The Philippines

[usa32]

I am 33. My Idea is to take a very long vacation, or possibly permanently retire in the Philippines in the next 5 years.

 

So living expenses is very important to me. I understand my lifestyle there, will be "different" than here in the usa.

 

I will have recurring income from the usa, of approximately 2k a month, maybe more

 

Should I be able to live comfortably and maybe even save on that, as a single guy, or a couple, if i meet someone there?

 

I think 1k, sounds cutting it close with no other safety net, can it be done? Yes, but probably wouldn't be too much fun.

 

Opinions?

[John Mogusar]

Some people think they are going to be on permanent vacation. How much does it cost to be on permanent vacation in your home country and why aren't you doing that and just visiting some tropical islands? Because if you can't afford it here, you for sure couldn't afford it in a first world country unless you stayed working.

I am one of those who thinks he's going to be on permanent vacation...and I'll be working upwards of 50 hours a week! :)

As I've said before, living in the Philippines IS a permanent vacation. (Spent three years there previously)

Right. And will you spend 5k piso every single day as others are claiming are necessary?

Ha, my initial budget will be between 45k pesos and 60k pesos. The variance depends mostly upon what I need to spend in transportation for my work. I play poker for a living and it will depend upon my precise plans...Will I be playing mostly live or mostly over the Internet? If I'm playing live, will I take a taxi to and from the casino every day or get close in a jeepney and take a taxi the rest of the way? (I actually prefer the second method, but the first may be safer in my line of work, even though I won't be carrying cash.)

After a few months, I expect my working hours to go down from 50 to 40 and my budget to eventually increase to possibly as much as 81k pesos. I really cannot imagine spending more than this...it has a good amount of spending built in.

As an aside, I belong to a poker forum with basically a Philippines subforum. It's actually just one thread, but it's 574 pages full of ramblings. There's quite a large segment of poker players living in the Philippines. There was a heated debate not long ago about living costs while in the Philippines. Some members reported spending as little as 36k pesos per month, but generally between 45k and 60k.

Then the poker player egos started showing...There was one guy and his followers who claimed if you lived in the Philippines, you should live the "baller" lifestyle. He recommends a monthly budget of 200k-250k. He parties hard, but it was difficult for me to understand how he could POSSIBLY spend that much in a month until he started talking about limos and flying to Hong Kong to get his slacks hemmed.

Edited October 30, 2014 by John Mogusar

[John Mogusar]

I am 33. My Idea is to take a very long vacation, or possibly permanently retire in the Philippines in the next 5 years.

 

So living expenses is very important to me. I understand my lifestyle there, will be "different" than here in the usa.

 

I will have recurring income from the usa, of approximately 2k a month, maybe more

 

Should I be able to live comfortably and maybe even save on that, as a single guy, or a couple, if i meet someone there?

 

I think 1k, sounds cutting it close with no other safety net, can it be done? Yes, but probably wouldn't be too much fun.

 

Opinions?

As I've said before, I can live on 1k pesos per month in the Philippines. Yes, my free spending budget would be small, but living in the Philippines is like a permanent vacation.

That said, 2k pesos per month is quite enough for a couple. As long as you beware the girlfriends that want to fleece you out of your money you'll be more than fine. You can always find stuff to spend more money on, of course, if that's your lifestyle. But I think 2k has enough saving and spending money built in for the average person.

You'll want to do your research on places to live. In the heart of Manila will cost far more than a cozy town outside of Cebu City. I cannot imagine that anyone would want to live inside a large city anyway given the choice, but that's just me. Tip: Check out Lipa City, Dumaguete, or Baguio as some possible locations.

One of the best tips I've seen is to plan a vacation to the Philippines for six months. If you love it (you will!), stay. If not, or if you find that finances aren't working out, head back home. But assuming you are reasonable, 2k pesos per month will be plenty.

P.S. I'd try to save at least 225,000 pesos as a safety net--preferably a little more if you can swing it--and an additional 75,000 pesos as moving and settling in costs. You could add a little to that safety net each month.

Edited October 30, 2014 by John Mogusar

[Jumper0155]

 

As I've said before, I can live on 1k pesos per month in the Philippines. Yes, my free spending budget would be small, but living in the Philippines is like a permanent vacation.

That said, 2k pesos per month is quite enough for a couple. As long as you beware the girlfriends that want to fleece you out of your money you'll be more than fine. You can always find stuff to spend more money on, of course, if that's your lifestyle. But I think 2k has enough saving and spending money built in for the average person.

You'll want to do your research on places to live. In the heart of Manila will cost far more than a cozy town outside of Cebu City. I cannot imagine that anyone would want to live inside a large city anyway given the choice, but that's just me. Tip: Check out Lipa City, Dumaguete, or Baguio as some possible locations.

One of the best tips I've seen is to plan a vacation to the Philippines for six months. If you love it (you will!), stay. If not, or if you find that finances aren't working out, head back home. But assuming you are reasonable, 2k pesos per month will be plenty.

P.S. I'd try to save at least 225,000 pesos as a safety net--preferably a little more if you can swing it--and an additional 75,000 pesos as moving and settling in costs. You could add a little to that safety net each month.

 

2,000 pesos per month living expenses? That's a little under $45 US 75,000 Pesos about $1,675 US  Moving and settling expenses & 225,000 pesos savings is about $5,000 US.  No way I'd attempt that.  

[John Mogusar]

2,000 pesos per month living expenses? That's a little under $45 US 75,000 Pesos about $1,675 US  Moving and settling expenses & 225,000 pesos savings is about $5,000 US.  No way I'd attempt that.

Haha, sorry, my bad...I was converting between USD and pesos...and forgot to convert...that 2k pesos per month is actually $2000 per month...he has a monthly income of at least 90,000 Pesos.

I agree, 2k pesos per month is a little on the low side.

[Gerald Glatt]

And I consider myself frugle. I bow to the master John

[pokermike]

Well its official i am a bum today,  just got laid off. I will living on my social secuirty 100,000 pesos per month. I have two inventions also , one i was getting 100,000 pesos per month on for 9 years but now was halted due to a law suit, but most likely it will start up again in Feburary. The other invention i signed over to the casino i work for , was just sitting here reviewing the contract and just noticed if they they lay me off or i quit , i am intitled to one years profits, thats crazy forgot all about it. If thats true it should be from 8,000,000 pesos to 12,000,000 pesos , i hope i am reading this right , getting a lawyer tomorrow. I also have 21,000,000 in savings.    I hope you guys are right. I am really worried. Its so crazy i have done very dangerous things in my life, have been shot at a few times, took some very hard spills climbing, face to face with big sharks, plus have risked large amounts of money at a poker table when i had the edge and ended up winning, but could have gone the other way. So i really hope i can make it there on 12,000 pesos to live on for me and my wife.   Shook up now!   Poker Mike   John Mogustar where are you from you look familiar?

[Dave Hounddriver]

I will living on my social secuirty 100,000 pesos per month.

So i really hope i can make it there on 12,000 pesos to live on for me and my wife

 

I am not sure which of these numbers you mean to live on but if its 100,000 pesos a month you are going to be doing great.

[bootleultras]

Exactly 100000 pesos per month is plenty and most of is here who are realistic can easily live on that figure with your invention and the money you have saved, I don't know why you're even contemplating being worried! You'll do fine even in a big expensive city like Makati you'd be living more than comfortably

[pokermike]

Thanks i really want to get by with the 120,000 pesos a month , if i can then i will keep my other money invested in mutual funds that are on the safer side hope for 5 to 7 % return if so that money should grow.

i just cant help it i am a nevous wreck, just eamiled my wife and told her no responce yet. i am still freaked out, hope she is ok with this, did tell her i was retiring anyway in less than a year. She told me so many times its ok we have plenty to live on and dont worry just wanted me to promise to stay with her and not look for another woman. She said when she intially met me it was about being secure in her life ,but that changed quickly and now she loves me. Told me we dont have to live like a vaction all the time, lets save money and live long and comfortable. We will see now if this is the truth.   Later poker Mike