Starting my planning

[Dave Hounddriver]

15 hours ago, Dave Hounddriver said:

Note that I lived in the Philippines for about 12 years on PHP60,000 a month so I know it can be done.

Let me add:  In 2008 that was 50% MORE than a lot of Americans I knew who were living like a king on US$1,000 a month when the rate was 40/1 and those guys were barely making it.  Fast forward to 2019 and I was living on less than anyone I knew and barely making it.  Inflation ya know.  I would not try it now, but that's me.

[Possum]

41 minutes ago, Dave Hounddriver said:

Let me add:  In 2008 that was 50% MORE than a lot of Americans I knew who were living like a king on US$1,000 a month when the rate was 40/1 and those guys were barely making it.  Fast forward to 2019 and I was living on less than anyone I knew and barely making it.  Inflation ya know.  I would not try it now, but that's me.

There's a difference in living and having a life.

 

[Dave Hounddriver]

2 hours ago, Greglm said:

There's a difference in living and having a life.

OH?  Do tell.  How much do you need to keep up with the Jones'?

I should warn the OP that is something he needs to be wary of.  A high percentage of other expats will want to know how much his budget is so they can somehow feel good about themselves if they have more.  Perhaps I am just sensitive to that because it happened to me a lot.  I was even told by a rich expat that poor expats should just go home as they don't belong there. The other members here who live on minimalist budgets seldom mention it, but there are lots of them.

Edited January 17, 2023 by Dave Hounddriver

[BrettGC]

I retired at 52 and moved here, been here exactly a year and 2 days and loving life.  I recieve 2 military pensions (20 years service and disability) that are indexed twice a year and so far they've been ahead of the Philippine inflation rate, well official rates anyway. I still have my superannuation that I can't touch until I'm 60 up my sleeve.  I probably won't go back to Australia for 2 years prior to qualify for the aged pension, but who knows.  Yes, as @Jollygoodfellow stated, you have to live in Australia for the 2 years prior to qualifying for the age pension at 67.  

I couldn't live comfortably on my military pensions in Australia, here I'm happy as a pig in poo.  I worked up until about a month before moving here.    

As an example, I'll give a rough budget when we were living in Dumaguete.  It's significantly lower now that we're living in our own home in what many consider a remote area where prices are lower for most fresh foods etc.  1 hours from the nearest semi-decent shopping, 2-3 hours from Cebu City including ferry, 3 hours from Dumaguete.  

Rent:  13.5k for a 2 bed, 2 bath, AC in the bedroom, secure undercover parking, apartment less than 10 years old. 

Electricity:  3 - 3.5k, we only used the AC at night. It's probably more now with the recent price hikes but it varies regionally.  I moved from a tropical area in Australia, so the heat and humidity is not something that affects me as much as others. 

Water:  1k a month - "town water", not the bottled stuff you need to buy in addition for drinking (included in groceries). 

Internet:  1.2K - 100mbs fibre to the home (better than most connections in Australia)

TV - 700PHP/month for Sky cable

Groceries - 10 - 15k depending on how much I wanted western goods.  I'm happy eating a modified Filipino diet a lot of the time, just need to add some spices etc. 

Phone - 500Php a month for each of us (I'm married)

Immigration - Approx 1.8k on a tourist visa; that's with 6 month extentions and annual ACR card fee - is it annual?  

Car - 2k, Rego, insurance, fuel, cleaning

Misc - Approx 800php Netflix, Amazon Prime, maintaining my Aussie phone number for 2FA (yes, I'm getting onto that)

Total about 40k PHP a month.  As I said, I'm married so it's potentially cheaper for you depending on your prefered lifestyle. 

Whatever was left over went to savings and entertainment.  Yes, I believe it's important to keep saving.  

An emergency fund of XXk AUD never gets touched, ever.  

Health insurance - I'm still looking into that. 

I allowed 15k AUD to set up with. 

 

It's different for everyone, there is no right or wrong answer.  I know guys that live happily on 50K Php a month, others couldn't survive on less that 100k.  My biggest concern for you is as others have stated, proofing that 60k a month against inflation.  Granted, interest rates are going up right now but not at the same rate as inflation and that won't be forever.   

Edited January 17, 2023 by BrettGC

[CebuAndy]

4 hours ago, Dave Hounddriver said:

so they can somehow feel good about themselves if they have more

You must have met the wrong expats then. I was the 'poorest' among those who become my regular expat friends, I never felt they belittle me or looked down on me.

I value another expat for his genuine friendship. His budget is really not my concern.

 

4 hours ago, Dave Hounddriver said:

poor expats should just go home as they don't belong there

What is poor? Only knew 1 poor guy, the expat beggar usually around Fuente and sometime Ayala.

I would never have told anyone who had 50k php budget, to go home. I would say 'well done, teach me in detail, how to do that'.

 

4 hours ago, Dave Hounddriver said:

Perhaps I am just sensitive to that because it happened to me a lot.  

When I met you, I thought you would stay in RP forever.

I can see how negative comments from other expats, can wear one down. Personally I didn't find the expats in Dumaguete very friendly, but no problem at other locations like Bohol and Boracay.

[Possum]

7 hours ago, Dave Hounddriver said:

OH?  Do tell.  How much do you need to keep up with the Jones'?

I should warn the OP that is something he needs to be wary of.  A high percentage of other expats will want to know how much his budget is so they can somehow feel good about themselves if they have more.  Perhaps I am just sensitive to that because it happened to me a lot.  I was even told by a rich expat that poor expats should just go home as they don't belong there. The other members here who live on minimalist budgets seldom mention it, but there are lots of them.

I was not in any way belittling you  and I personally don't care for keeping up with any Jones. I live a simple life here. I  was agreeing with you that cutting things too close budget wise can have consequences due to inflation, medical costs etc which can cause one to have a poor quality of life.

[CebuAndy]

Cheap alcohol and cheap girls can ruin a mans fortune and life. Newbies might indulge in both, only to see their plans and savings running out, quickly. Newbies normally find the wrong type of girls, (been there) the girls that goes beyond 'psist - psist' sound, to get your attention. The girls that approach a foreigner so directly, are never a good girl.

What's often forgotten, is to have a proper high coverage insurance. Only takes 1 serious medical issue to change expat life from heaven - to impossible - to hell.

■ a realistic budget, beyond survival mode, with a emergency fund.

■ from day 1 in country, live same a expat - not same a tourist. In other words, avoid nightlife and booze, don't eat in malls all day.

■ don't hook up with a girl as soon one gets here. Be careful with internet dates. You're not the only one, sure.

■ a good health insurance.

■ meet up with seasoned expats for advice, early on.

■ Who Wants To Meet, under social clubs and meetings - is a good place to start, just before arrival. A Wingman will be any wannabe expats best bet, for all kind of info, to avoid mistakes of any kind.

[OnMyWay]

8 hours ago, Greglm said:

There's a difference in living and having a life.

 

8 hours ago, Dave Hounddriver said:

OH?  Do tell.  How much do you need to keep up with the Jones'?

I should warn the OP that is something he needs to be wary of.  A high percentage of other expats will want to know how much his budget is so they can somehow feel good about themselves if they have more.  Perhaps I am just sensitive to that because it happened to me a lot.  I was even told by a rich expat that poor expats should just go home as they don't belong there. The other members here who live on minimalist budgets seldom mention it, but there are lots of them.

Hmmm, wrong side of the bed?  Wifey have you sleeping on the sofa?  Dave seems cranky! 

I never had any of that stuff happen but then I don't socialize with many expats, while I have the impression that you were very social with a huge network of friends.  I wish I was more like that but family is my main thing now.

I'm having dinner with the wealthiest expat I know this evening, and he is a great down to earth guy who does not look down on anyone.

[Freebie]

15 hours ago, Kingpin said:

Can't be stated enough, find a girl with little to no family and that takes care of that problem.

Actually conventional wisdom says orphans are the ones  in the highest demand......lol

[OnMyWay]

9 minutes ago, Freebie said:

Actually conventional wisdom says orphans are the ones  in the highest demand......lol

Rich orphans are even better!