Where is Philippines now?

[mogo51]

I was just reading an interesting post by JGF some 14 months ago about whether Philippines will ever be a first world country and indeed how inflation is affecting us, not only in Philippines, but generally throughout Asia.

But we should stick with Phils as this is where most of you guys are and I will be, at the first opportunity.

Having just been there for 3 weeks, I took  a strong interest in the cost of living and coupled it with what members have provided on this forum, pertaining to the cost of living.  My conclusion was that there is little difference between Thailand and the Philippines, with possibly Philippines being slightly more expensive.  It really gets down to what your cost of accommodation is, rents in Phils seem less expensive, provided you stay out of places like Central Manila, Cebu, Angeles, Subic etc.

It was rightly said in posts on JGF's post that the $1000us days are over, the suggestion is that it is closer to $2000us.  I think that is a bit over the odds, my assessment is that you can still live well on 55 to 60k pesos monthly.  I mean life ok, not lavishly but not povishly.

What is the consensus Gentlemen and ladies?

Edited May 31, 2016 by mogo51

[David B]

An initial investment in a respectably modest,  dual-use property AND solar power can make that budget work nicely. 

[Tukaram (Tim)]

I think $1,000 USD would still be fine, for me, that is p45,000 (about).    

I have no rent and do ok on p30,000 a month.  I usually say that I live on $800 (USD) a month, but would recommend closer to $1,200.  Once I retire, I will be better off.  I think p60,000 a month would be much more comfortable.  Only 2.5 years until retirement ha ha

[Jollygoodfellow]

7 minutes ago, Tukaram (Tim) said:

Once I retire

Not sure if you could get any more retired than you are. 

[Sander Martin]

Depends on what you consider a comfy life. If you eat like a local, skip the girly bars/dont party every night and you don't travel every weekend, then I bealive 1000usd a month is still plenty to have a comfy life here.

Now if you like to eat out alot at nice places, travel (hotels and especially resorts are so overpriced here), eat western foods (specially dairy), then 1000usd a month will not be enough quite quick. Add girly bars/drinking in the bars often and you will run out of money quick.

Time and time again people will ask about the perfect budget nr. It's impossible to give. Everything depends on your life style. Hell for 1k usd id live a comfy life in Estonia at the moment. I know a guy that lives here with 500euros a month (26k pesos) and is super happy with hes life, while there are guys that spend thousands more per month...

[RBM]

Much comes down to where one decides to put roots down. As the OP mentioned larger more popular cities one pays excessive rents. If one can adjust to living a mid or smaller city rents in general are much cheaper allowing the budget to be spent on other enjoyments.

I was paying P20K a month for a small condo in Cebu, moved awayfrom Cebu and rented for 7K, bigger unit and enjoyed (enjoy) the quieter pace of life. Some what of a trade off as smaller the City the less facilities so very much up to oneself.

For those whom enjoy nature, do not require the bright lights and fancy malls living can be cheap. Just need be choosy, seems the smaller the environment the more likely we are to end up next to one of those dreaded karaokes........

 

[frosty (chris)]

Got to agree with the other posters, much depends on where you decide to live. We live on Mactan, and I try to live on 1000 Aus a month and to be honest I rarely succeed. I would say at least 1400-1500 Aus a month and it's doable. Our rent is 5,500 Pesos a month, 3b/r 2 cr/shower in a really quiet filipino sub div. Food is 1500 p.w. and we eat pretty good, nothing fancy but we never go with-out.  Internet, power, water, security, rubbish is around 3,500 pesos pm. I have a beer occasionally and we usually just go to our favourite sorry store, the owner there also owns the house we rent so hence the cheap price.

Going out here can certainly put a hole in your pocket, especially when some of the family decide a free lunch is on the menu, so we live about 2 hours away, far enough away to be comfortable and if needed close enough.

I know some expat's here that are married and their wives spend more on personal shopping than I do with my monthly budget so it's just a case of if you only have so much you just have to live on that, everyone here is in a different situation and no one size fits all.

[expatuk2014]

with our combined pensions me and the little woman have around 65=70,000php a month.

plus I have a small monthly uk 4000php pension which I let add up for xmas gifts and bithdays for my son and daughter and grandson back in the UK

plus I have an annual private pension which this year was 110,000php all the above figure depend on the exchange rate which at the time of writing this is 68.66 php -1 uk pound

our biggest bill is meralco this month 1660 php.

we live well we dont go to bars or exp restaurants every week.

we do go to maxs often with the sister and brother and we split the bill.

my favourite treat are JLOs doughnuts and san mig apple bear plus a bott of cherry brandy a month.

I drink a lot of water and I make my own iced coffee.

we own our home and our only real expense is a new car.

if we were back in the UK we could not afford a new car or live as we do now !

And yesterday went to the ST PADRE PIO NATIONAL SHRINE IN SANTO THOMAS BATANGAS

WHICH IS A LOVELY PLACE .

AND THE WIFE AND SISTER LIKE THE JAPANESE SURPLUS STORES SO THATS OUR WEEKEND OUTINGS.

THE PHILIPPINES LOVELY COUNTRY LOVELY PEOPLE .

 

[mogo51]

2 hours ago, mogo51 said:

I was just reading an interesting post by JGF some 14 months ago about whether Philippines will ever be a first world country and indeed how inflation is affecting us, not only in Philippines, but generally throughout Asia.

But we should stick with Phils as this is where most of you guys are and I will be, at the first opportunity.

Having just been there for 3 weeks, I took  a strong interest in the cost of living and coupled it with what members have provided on this forum, pertaining to the cost of living.  My conclusion was that there is little difference between Thailand and the Philippines, with possibly Philippines being slightly more expensive.  It really gets down to what your cost of accommodation is, rents in Phils seem less expensive, provided you stay out of places like Central Manila, Cebu, Angeles, Subic etc.

It was rightly said in posts on JGF's post that the $1000us days are over, the suggestion is that it is closer to $2000us.  I think that is a bit over the odds, my assessment is that you can still live well on 55 to 60k pesos monthly.  I mean life ok, not lavishly but not povishly.

What is the consensus Gentlemen and ladies?

Sorry everyone, just realised a typo, should have read to 55-60k, have amended.

[frosty (chris)]

1 hour ago, Tukaram (Tim) said:

I think $1,000 USD would still be fine, for me, that is p45,000 (about).    

I have no rent and do ok on p30,000 a month.  I usually say that I live on $800 (USD) a month, but would recommend closer to $1,200.  Once I retire, I will be better off.  I think p60,000 a month would be much more comfortable.  Only 2.5 years until retirement ha ha

Got to agree with you Tim 60,000 pesos to me would be ideal.