Part 2 - Can I Live On $2,000 A Month In The Philippines?

[Thomas]

 

JJReyes, on 15 Dec 2014 - 10:04 AM, said: According to 2010 U.S. Census data, retirement-age Americans had a median annual income of $25,757. Are you sure it's the median and not the average?

Those who are in the poverty level are not counted because they don't file income tax returns. They also do not collect Social Security benefits because you need to contribute into this insurance program a minimum for 40 quarters or ten years to qualify. Certain religious groups can exempt themselves from contributing to Social Security. The examples include the Amish community, Catholic priests and nuns belonging to a religious order. The median retirement income appears to be higher because not everyone is included.

If you are the head of a household with a spouse and two children earning less than $22,000 a year, the federal government considers you to be at or below the poverty level. The threshold is higher for Alaska and Hawaii residents.

That explain it.  Not hard to get high median, when not count all poor    :)

In Sweden ALL are counted.

[JJReyes]

$2k in the Philippines sounds more comfortable, as you can save at least $500 monthly for emergencies.

If you have a $2,000 retirement income, a simply formula is to set aside 20% ($400) a month as a reserve fund. You monthly budget is reduced to $1,600, but at the end of each year, the "savings" is $4,800 or the equivalent of three months expenses. The disciplined approach is to place the $400 a month into a separate account. Over time, the savings should be sufficient for emergencies.

[Jack Peterson]

If you have a $2,000 retirement income, a simply formula is to set aside 20% ($400) a month as a reserve fund. You monthly budget is reduced to $1,600, but at the end of each year, the "savings" is $4,800 or the equivalent of three months expenses. The disciplined approach is to place the $400 a month into a separate account. Over time, the savings should be sufficient for emergencies.

 

 

Hmmmmmmmmmmm :unsure:  i am sure many ( Including me have tried this with any amount we had monthly But.... and there is always a but :rolleyes: There always seems to be so many days left ant the end of each month  and that is when the bills tend to come in, OH! we say just pay it back later, of course it never goes back in. Here I am afraid our disciplined ways get eroded as Oh! so many peoples do. The longer we are here the more we tend to live as the locals do, day to day. (That's why many of us are here.) Never met anyone yet that can honestly tell me, I have saved so & so from my pensions this month, year whatever.

 

As I have said before, it's OK saying things and making Plans when you are still in your own country, Once people get here full time, things just sort of change.

 

Negative thoughts ? NO! realistically  living here.

 

I have always found that these saving schemes actually cost me more.

 

Morning All.

:tiphat:  :morning1:

[JJReyes]

Anyone know about cost of living in Banawa City?

I couldn't find specific information about this location in Numbeo, a website about the cost of living in various cities around the world. Try selecting a comparable size community located in the same province. If not, once you get to Banawa, post the information on this forum and Numbeo.

[WordsandMusic]

Thank you I will do that.

Thank you for your time friend!

[Dave Hounddriver]

can i live on what ever i love these threads

 

I love them too.  I enjoy reading what others spend and I enjoy seeing the vast differences in what is important to some people.  Examples:  Some people want to talk about the cost of their vehicles, others find the cost of insurance more important, as for me, I find the cost of food and electricity the big issues.

 

I don't think I could live on 2000 a month as I believe that is too much.  I believe that a person with 2000 a month to live on (in Dumaguete area anyway) should live on 1500 a month and save or invest the other 500 for a rainy day.

[Jack Peterson]

I love them too.  I enjoy reading what others spend and I enjoy seeing the vast differences in what is important to some people

 

 

Couldn't Agree more Dave. I see all to many times Posters on various forums Quoting what they paid for a meal for 2 here, there and Everywhere, they really must have money to burn as my wife can make those dinner outing prices feed us for 2/3 maybe even 4 days. seems even here, we have those that really are the Jones's and others trying to complete, I don't think this is the way we should be looking in the context of these threads "Can I" each to our own of course, but I tend to think the wrong picture is being painted sometimes on answers that appear. JMHO

 

JP :tiphat:  :morning1:

[pokermike]

I like this site because all styles of living are covered. My food expenses will be higher than most because when running around i wont have the luxury of cooking my meals as much. I plan on cooking mostly breakfast , lunch and an occasional dinner . But most dinners eating out. i am going to keep track of every penny i spend and post items in question , so i can get hopefully get some helpful hints on ways to save money on these key items, example airfares or lodging.

I hope when i get there , someone will help me with finding some housing for my wife and me. She has not traveled to much around her country so we both are on a treasure hunt in looking for a place to live.

My house is almost empty , only one large item left my barbeque after thats gone all items are small. I have 5 by 5 storage unit and it will only be half full. I will be coming there with my backpack, my laptop and a small gym bag. Start my new life.    later poker mike

[Larry45]

 I would of course be sympathetic if you inform your wife or girlfriend that your monthly budget is only $1,000.

 

Yeah, she's gonna be really pissed if the whole basis for the relationship is money.

 

Move to the Philippines to live better on your $2,000 a month, than the US. But if you dont have that kind of money stay home.

 

 

Why would you stay home and be poor when you can live in the Phils and at least be middle class?  You guys are still projecting your own situation on everyone else and even generalizing a little.  Having a budget doesn't equate to being extremely limited in your funds.  There are many other reasons to budget, such as setting a precedence for your wife or building cash reserves for expected future plans or needs.  But I do agree $2000 is a good budget to have, if I was either bringing my wife back after many years in the states, or if I was going to live like a tourist.  But to live in the province as a normal working class couple with no leeching inlaws, $1000 works for us.    :) 

[Jack Peterson]

Yeah, she's gonna be really pissed if the whole basis for the relationship is money.

WHICH! it is not and if it was, then you have the WRONG Wife or G/F

 

 

Nuff said?