Budget of p72,000 pm. Enough?

[popeye72 ]

Dave

 

Thats what im afraid of haha. 

Edited May 31, 2017 by topcat72m

[jpbago]

For now, p72,000 will do fine but later on, there may be more expenses like medical insurance/expenses for more than one person, tuition for your/g/fs children, trips for 2 to Ireland, legal expenses like annulment, and other unforeseen expenses at the moment.

Inflation here has gone up more than some pensions. This is a developing country.

A good woman will do her best to keep you under budget.

[Jack Peterson]

1 hour ago, jpbago said:

A good woman will do her best to keep you under budget.

You Reckon  Keeping to Budget is one thing But........ UNDER, let's all remember where we are EH? 

[mogo51]

On 5/31/2017 at 11:44 AM, Dave Hounddriver said:

If you can stay a single man and go careful with your "dating" budget then it would be great.  I could not do that.  Seems someone always ends up moving in and I hate kicking them out.

So to make a long story short. 73k per month would be great with the girl I have now but would not be enough with the gal I had before.  The gal I had before was more fun though   . .  I might have to go back to work. 

Yes Dave, but you are as hard to get as a packet of Marlborough, haha!!!

[Dave Hounddriver]

16 minutes ago, mogo51 said:

you are as hard

Its the drugs 

[sonjack2847]

11 minutes ago, Dave Hounddriver said:

Its the drugs 

MMMM from Thailand maybe haha 

 

[AlwaysRt]

41 minutes ago, Dave Hounddriver said:

"you are as hard"

 

Its the drugs 

WOW.... I'm not touching that one... no really, no way, not gonna touch it... LMAO 

[mogo51]

12 hours ago, Dave Hounddriver said:

Its the drugs 

Good one Dave.

[bob1965]

Hi

I have been thinking about buying a condo there too. I've looked online quite a bit, and I'm not really convinced it's a good financial decision. I'll do some in person looking in sept, but as of now I think renting looks like a better option. As was said, purchasing leaves you fixed in a location.  It also appears reselling is not an easy prospect. 

The concern about spending all the lump sum of cash is certainly valid. What about looking at an anuity. You'll get a monthly income, and once you buy it the cash in out of your control. It's not the best time to buy bc interest rates are low, but it does provide reliable income.

[Dave Hounddriver]

53 minutes ago, bob1965 said:

as of now I think renting looks like a better option.

Both have their pros and cons.  I've done both, here in Philippines and I would give this advice:

If you can find a rental house that suits you very well, and the landlord is good and the price is fair, then renting is a good option.

If you can find low cost housing that you can buy, and it suits you well, and if you figure out that it is a good financial strategy for you, the buying is a good option.

Both have some risk and some rewards.

When I lived in my favorite rental house, the owner decided to sell it.  She got a good price and I had to move.  Shame because if I had bought that house for the 2 million she would have taken in the beginning then I could have been the one selling it for 4 million when the new bridge was completed and property values in that area took off.  POINT IS:  On a budget of 72,000 pesos I was spending 9,000 pesos a month for rent but the house got sold and I had a headache finding as nice a place for the same money.

The house I live in now is mine.  I won't go into details as to how a foreigner can own a home here as its complicated and this thread is not about that.  I have just over 1 million pesos invested in it and I have lived rent free for 2 1/2 years here.   I believe I can sell it to get my money back if needed.  I figured that if I lived here for 8 years it will have paid for itself by what I saved in rent.  POINT IS:  On a budget of 62,000 pesos a month and spending zero for rent my money goes a lot farther (although I spend any excess I have on home improvements but that is a choice.).  Notice that my budget is reduced from a few years ago.  That has a lot to do with the exchange rate.  Be cautious.