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

[stevewool]

People and things change you, as you grow older, and hopefully more wiser.

 

When I lived in the UK, less than 10% of people earned in the same category as I did.

 

The government took most of it, and I spent the rest!

 

Now, I know kids..., well they seem like kids to me, in their mid 20's, Filipinos, earning 3 times what I do while working in the BPO industry today, and they live like I used to, spending it as fast as they are earning it. Driving cars that make them look well off, designer clothes and accessories...., makes me wonder...., who are they trying to look like?

 

To me, being happy and content with life, is now worth more than the amount of money I make.

 

My wife, deserves most of the credit, she saw me spend money like most expats living here, she picked me up when I lost it all, helped me to start again, and supported me emotionally and in other ways all the time, never complaining.

 

You know, now when I get paid, I don't even open my "little brown envelope" until I get home and hand it to her! (and wait for her to give me my weekly allowance!)

 

She manages our money, much better than I ever did. She still buys me my "special things" so that I still have some of the things that I used to, .... but not all!

 

We still manage to go out for a meal once in a while, visit the beach once in a while, but she does it on a budget that we can afford, where as when I did it, it always seem to cost more money.

 

Maybe that is the secret?

 

I know not everyone can do this, and I consider myself as one of the lucky ones who has learned "how to do it", and very thankful that I can still learn at my age.

 

 

Papa Carl

This is the dream  i what to dream too,

[davewe]

Since I am a couple years from retirement, and knew I wanted to live a simpler life in the Philippines, one of the things I did was examine my current budget (which I am sure most of you do) and have started to eliminate, not just what seems wasteful, but what I wont have in the Philippines. So I:

 

Dumped the premium channels and eventually dumped cable completely

Stopped going to the expensive barber that I spoke about in another posting

Stopped going to the doctor for non-essential reasons

Stopped going to the therapist at $80/session. The guy actually tried to tell me I could continue via Skype. I said the ocean, sand, and cute wife will be just as good, and not cost $80.

Traded in the luxury car. Yes, I still have a car payment but it's 1/2 of the old payment and my gas cost is less than 1/2 of what I used to pay.

Designer clothes: I used to buy plenty. No longer.

Luxury items: No more. I used to buy crap to substitute for not being very content. Now my wife practically begs me to buy something for myself but I tell her I need nothing, because honestly I don't.

Existing luxury items: Used to collect watches, which will all go on sale next year. A couple high end guitars? I got a buddy waiting for the official word that they are for sale. Other expensive items. What - Target stuff isn't good enough!

Filipino food: Already eating plenty of that and - don't tell my wife - our grocery bill is already lower than before she moved here.

 

All told I am probably saving $1000/month just on my downsizing efforts and hopefully by the time I get to PI it won't be a radical adjustment.

 

Of course we will not be living like a poor Filipino family and will certainly have plenty more than that proverbial $1000 month. But I'm getting ready for simplicity.

Edited August 25, 2014 by davewe

[RBM]

Find this thread quite amazing. Just read a little but will go through them when time.

So much depends where one is living, since we moved from a condo in Cebu to semi Provincial living Negros Occ it's been far cheaper.

As my income varies considerably each month I have really never thought to keep track of costs. Must be a pain to write down expenses each night. Having said that will give it a shot, just discipline I guess.

[robert k]

Semi-provincial, I like it! :thumbsup:

[stevewool]

Can i ask this question to many who are on here and have made the move,

Many of you say a income but is that just your pension, nothing else,

If you are working what would happen if something goes wrong and the money dries up,

Myself i do not intend to work at all, no investments other then pensions, so really i am hoping for a fixed income coming my way, ie private pensions, house rental and state pension, the state pension is about to change soon so that could be sooner then later,

There will be a emergency pot and a savings pot too,

I am 55 now and i want to be living somewhere with no work before i am 60, if possible sooner, what we are doing here saving hard i think we are doing the right thing, but there is always a worry in my mind will i have enough if when i cut of the monthly wage coming in,

[RBM]

Can i ask this question to many who are on here and have made the move,

Many of you say a income but is that just your pension, nothing else,

If you are working what would happen if something goes wrong and the money dries up,

Myself i do not intend to work at all, no investments other then pensions, so really i am hoping for a fixed income coming my way, ie private pensions, house rental and state pension, the state pension is about to change soon so that could be sooner then later,

There will be a emergency pot and a savings pot too,

I am 55 now and i want to be living somewhere with no work before i am 60, if possible sooner, what we are doing here saving hard i think we are doing the right thing, but there is always a worry in my mind will i have enough if when i cut of the monthly wage coming in,

Good points,

Unfortunately I will never receive a state pension as been out of my country to long. A lot of the western world are tightening up.

What I have done is try to diversify as much as possible. Some small investments here and abroad. One must be careful investing in the Philippines particularly leaving control with another party. This has been a disaster with many ex pats, it's wise to always maintain control.

What is absolutely essential is a good medical insurance, this should be number one priority.

So far it's been OK for me how ever hands on is key. Personally it would be nice to be here and receiving even a modest pension. If your financial situation allows there are opportunities here how ever one must go slowly and as said maintain control.

[russellmania]

Can i ask this question to many who are on here and have made the move,

Many of you say a income but is that just your pension, nothing else,

If you are working what would happen if something goes wrong and the money dries up,

Myself i do not intend to work at all, no investments other then pensions, so really i am hoping for a fixed income coming my way, ie private pensions, house rental and state pension, the state pension is about to change soon so that could be sooner then later,

There will be a emergency pot and a savings pot too,

I am 55 now and i want to be living somewhere with no work before i am 60, if possible sooner, what we are doing here saving hard i think we are doing the right thing, but there is always a worry in my mind will i have enough if when i cut of the monthly wage coming in,

I pulled the plug last year when I hit 55yrs old. I knew I was ready because I started preparing for retirement after I paid off my mortgage in 2007, plus my job started sucking! I have a lifetime gov pension, investments, 2 rental properties and a emergency fund.

[Alby]

It can be done and easily with $1000 USD per month including your gf hair rebonding at David's :)

This is not including health.

Sent from my iPhone using Tapatalk

[i am bob]

I knew of a man a few years back in Canada who lived on less than $100 (P4000) a month. Lived in a shack heated by wood, had a huge garden to grow his veggies for food over the winter and, for meat, had a couple deer in the freezer. I wonder how he would have done in the Philippines...?

[Jack Peterson]

I knew of a man a few years back in Canada who lived on less than $100 (P4000) a month. Lived in a shack heated by wood,

I wonder how he would have done in the Philippines...?

 

 

 Live the same, like, many here Do. This is exactly, what So Many, have to do,  but not, by Choice :no:

 

Bob, I guess he would soon Settle in to local Life, especially in the provinces. :)

 

 

JP :tiphat: