Budget help

[marine6357]

Hello Everyone

I am hoping someone or anyone can take a look at my budget plan and give me any advice on missing items or if my figures are really out of line with what I can expect expenses to be. Any help or suggestions would be greatly appreciated. This budget is for 1 person with live in DH 2 bedroom condo either in Cebu area or other than Manila.

Thanks in advance for all your help.

 

 

Edited January 4, 2018 by marine6357

[bows00]

The Entertainment budget of $140/month seems pretty slim to me.  If you are single and dating, you may need to up this.

[Dave Hounddriver]

1000 pesos a month for taxis in Cebu or Manila is low unless you live next door to a grocery store and don't go anywhere.  There are no trikes in the downtown area so jeepneys or walking are the alternatives.  I spend 1000 pesos on taxis in a week when I visit Cebu.

In addition, I don't see 20K pesos a year for Tourist Visa renewals.  Are you on a different kind of Visa? 

When I go through your list and take away the superfluous stuff like your rent, utilities, US bills and insurance then it looks to me like you plan to live in Cebu on 50K pesos a month disposable income.

I could not do that as a single man but others do.  I moved away from Cebu because I was spending too much on taxis and dining out and entertainment.  Its readily available but it costs.  The alternative is to stay home every night or at least cut waaaaay back on the "enjoy yourself" budget.  As a single man that is not much fun but it can be done.

My solution was to move to a place where my money went further.  You will be OK on that budget but it will not be extravagant living.

Edited January 4, 2018 by Dave Hounddriver

[Jollygoodfellow]

Mortgage/rent ? Which one is it? You say 2 bedroom 25k but is very low for a decent condo to rent. Utilities to me are covered in your other expenses such as phone, internet, cable except electric.  

[TunaT]

Do not plan on always getting 50-1 on the USD exchange rate. I have lived here 8 years and at one point was only getting 42-1. That will take a chunk of your budget if and when it happens again. 

[Lou49]

I am not extravagant. My budget for Cebu City is : Rent and utilities 30,000php, food and dining out 20,000, transportation12-15,000. That does not include having fun or having a DH or visa renewals.

Edited January 5, 2018 by Lou49

[TunaT]

14 hours ago, TunaT said:

Do not plan on always getting 50-1 on the USD exchange rate. I have lived here 8 years and at one point was only getting 42-1. That will take a chunk of your budget if and when it happens again. 

A slight correction to my memory. After checking I see that in Jan. 2011 the USD fell to 40.55. That's almost a 20% cut in pay from the 50-1 used to compute your budget. On the plus side in Aug. 2005 it hit 56.2 when my cousin first moved to Cebu. So all I am saying is be prepared for some pretty vast fluctuations. Build your budget on a low point and then you'll be happy anytime it is above that. Life's a roller coaster ride. Enjoy. 

[PaulB]

WOW! Php116k seems very high. I have budgeted Php60k per month but have my own home paid for and car so that may help. With Php116k you should live very well!

Paul

[Jake]

21 hours ago, marine6357 said:

Hello Everyone

I am hoping someone or anyone can take a look at my budget plan and give me any advice on missing items or if my figures are really out of line with what I can expect expenses to be. Any help or suggestions would be greatly appreciated. This budget is for 1 person with live in DH 2 bedroom condo either in Cebu area or other than Manila.

Thanks in advance for all your help.

 

Come on Marine.....you know the best laid out plans goes out the window when the first bullet starts flying.  May I suggest you go into reconnaissance mode of different areas or even different island groups before you make your final decision on residency.  Make sure you revisit during the night for noise pollution, nefarious activities of your potential neighbors and late night public transportation.  

As Dave Horndog suggested, "enjoy yourself" budget for the first several weeks will be your expenditure.  It only takes that "one cute smile(s)" and you're ready to surrender your weapon.  And often times.....the short time -- good time is over and you're ready to move on again. 

Remember your motto Marine -- Adapt, Improvise and Overcum.  Respectfully Jake ret ETCM-CMC

PS - I believe you current spreadsheet program is not computing properly.  Look at your monthly US property tax -- $500 a month?  

 

 

[marine6357]

55 minutes ago, Jake said:

PS - I believe you current spreadsheet program is not computing properly.  Look at your monthly US property tax -- $500 a month?  

No Jake that is correct $500/month it really should be more because I actually pay $3200 a year in school taxes and another $3150 in county taxes per year. I live in one of the highest taxed counties in the US. That is the biggest reason I am wanting to get out of this state and country. Sick of forking over almost 22% of my monthly income to the Government. Not including sales tax on goods and services of 8.75% also where I live with have some of the highest percent of fuel taxes in the country.