MY BUDGET! FOR AN EXPAT IN THE PHILIPPINES LIVING ON $1500
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- เผยแพร่เมื่อ 26 มี.ค. 2024
- COMMON SENSE BUDGET/COST OF LIVING IN THE PHILIPPINES/Monthly Expenses/$1500-$2200 Philippine Budget/ @mikesphilippineretirement /BEST PHILIPPINE MONTHLY BUDGET @DumagueteRentals /How to retire on less than $2000 USD a Month/ Money Matters
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I RETIRED TO THE PHILIPPINES IN 2022, LIVING ON A BUDGET WITH MY FILIPINA GIRLFRIEND IN DUMAGUETE.
#Dating a filipin, #Traveling to the Philippine #Filipna Scammers #Filipina-Foreigner #Dating in the Philippines , #LDR, #Married to a Filipina , #living in the Philippines, #Budget in the Philippines, #Cost of Living in the Philippines #retirement, #moneymatters
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I keep asking Mike to do a Vid on the nuts and bolts of banking in the Philippines, getting money monthly from USA and he keeps ignoring my question. How come Mike?
what do you want to know. I have done banking videos and money transfer videos
@@mikesphilippineretirement Do you have a link to your Vids on banking? I must have missed them, when I looked for them.
Me and GF live well on $1,300 (73,500 pesos) - My Basic Nut is 31,500 pesos - and we budget 5,000 pesos a week on food. That gives us 20,000/month pocket money for taxi - eating out - and Robust. Some months we'd spend it all - some months had 5K left over. The best part is not having a care in the world - and a warm body next to me at night.
no rent?
@@mikesphilippineretirement - Rent is under the umbrella of "Basic Nut." - My rent at 8 Newtown - in a corner studio is 22,000 pesos a month - electric 6,500 - Internet 1699 - water 750. Robinson's grocery is downstairs - pool and gym on the 5th floor - and McDonalds is 3 minute walk. Ask for the senior discount - it's 25% off.
I take it, that "basic nut" means Cost of Dwelling? Home, Power, Water, Internet?
Just dont need medical care..
My Girlfriend and I
I want to see a 6 month review and recap of what you actually spend between now and October.
Making a budget is easy. Living within the budget is another story.
Yes it is hard
haha, so true
What I have learned is if a guy has reached retirement and still struggles with money, he most likely won’t change his ways. Old habits are difficult to break!
one thing nobody puts in these budget videos is inflation over the time you will spend here. 20 years here in PI . what you can live on today is not what it will cost in like 10 years and your fixed income will not expand as fast as prices. prices have more than doubled on food in the last few years and are not slowing down. your lifestyle will deteriorate as prices rise. just keep that in mind gentlemen.
Not really. one knows the numbers lives by them. some months higher it averages out. But if you saved invested then whats a budget? i dont really have one and yet Ilive like one
Here’s an idea that you and others might like. After you have set your budget. Have a donation fund, or piggy bank. Whatever you don’t use for your monthly expenses. Put it in the donation fund. Then if your wife or girlfriend’s relative has some sort of emergency, you can donate from the donation fund. You can give a little to someone on the street. Give it to your church. Use the money to make some special treats to give to the neighbors. It’s totally up to you.
I donate a lot but do not share it with the viewers. I stopped having a piggy bank 60 years ago
@@mikesphilippineretirement Tithing and donations are a personal matter and meant to be kept private. Good for you.🙂
fantasic comprehensive breakdown with the on screen figures. And the bonus of the three most common situations. Best budget video seen of all those out there. Very thoroughly thought-out. Great job sharing w us.
Much appreciated!
I never get tired of the budget blogs........From personal experience having been there, and listening to expats, I've come to the realization that $3500 usd a month is a good, safe amount to truly live nice, with everything covered and do some travel, including returning home once in awhile.
it is a great number trouble is most guys do not have that income
Awesome topic. You’re one of the best expats ever lived in the Philippines 👍✌️🙏.Watching from Texas
thank you
For those who are married to a Filipina. I have a wife and 3 young kids there already and I plan to retire with them next year. I will be filing the marriage visa or 13A Visa and it initially cost 8,620.00 PHP or $153.00 . The ACR card attached is $50.00. My info says it takes 2-3 months to process. Thanks Mike for the detailed budget info! 😎👍
yes
So you don't have to wait for ACR card before you file 13 A marriage visa ?
You need your ACR I-Card first, then submit with your 13A Visa application. The wording I used as attached means "add".@@garrylafferty100
@leemwppd571. Thanks for the 13A Visa and ACR card costs - I was going to ask Mike about that, since he had savings toward the ACR card included in his budget.
We own a house in the Philippines, we brew our own coffee, doesn't go to bars or eat out (we both love to cook), we get our drinking water from the mountain spring and we have a washer and hang out clothes out to dry. Therefore our electricity, internet, groceries, gas for two vehicles, occasional trips here and there, kid's education, ACR-I card renewal is where our expenditures will be most likely. We will be self insured when we get there. Having said that we will only be tapping into my SS money which is a little under $1,000 a month and we will bank my husband's SS money for the rainy day. We have learned to comfortably live below our means here in the States and there's no reason why we can't do that there. Your content, I'm sure will be a big help to those who are contemplating to move to the Philippines Mike. I would like to add this though, make sure you are debt-free when you come to the Philippines.
enjoy your life in the philippines
Dept Free - right, this is one of the most important things. And, try to stay away from borrowing money (vehicle loan) in the Philippines. They don't do early pay offs the same way as in the states, and it could cost you way more than you planned.
Save some extra money for the dysentery from the mountain spring.
@@user-on2se7eo1q mountain spring is good water and clean with minerals. I grew up in PI drinking natural spring mountain water in Pampanga Philippines, and never got sick.
Great video. Lots of important and detailed info. Thank you so much ….
Glad it was helpful!
On my way back to the States, in the morning 😢🇵🇭✈️🇺🇸. Liquidation time!
Hurry Back!
Thank you, Mike, for this update on the budget. I liked that you covered medical needs and savings for travel, emergencies and miscellaneous.
Thank you and your welcome
Great Job Mike, thanks to you and Janet sitting down and doing the work. I turn 62 in May and your channel and honesty are causing me to seriously follow in your footsteps. Knowledge is not power, Applied knowledge is true power, so thankyou for showing me the way forward!!!
That is awesome! Thank you for the nice comment
My biggest expense here is groceries. At this point in life the last thing Im going to deprive myself is something that we like to eat. My GF always used to say can I get this, I finally got her to the point of just putting it in the cart. Now I tease her and say can I get this. We really don't spend on anything else. Other than eating out and groceries. My rent is only 200 US a month. I have a brand new 1 bedroom. In a nice building.
sounds like your having a great life. Happy to hear your enjoying yourself
@@mikesphilippineretirement There's a ton of challenges here, I usually go home 3 times during the course of the year. Believe me I need that. We met at the red table one morning. I was with Monty Crew and my GF.
Same way for me it's really crazy! She's never in 2 years have me go out to a $50 dinar yet and I have no problem for me. And she wants me to buy from the clothes donations here can you believe this a quarter for a shirt and 30 cents for a pants. I got three pairs of new balance shoes for american us dollars $9. They are new i don't know if they're knock offs they feel good but she's got some deals.
Wow where about s can get rent for $200 new ?
@@gadgetgrader They're around just keep an eye on Marketplace.
Great point on having start up money. Plan on buying quite a few things when you get there. Coffee like making at home, if I was out and about then yes would buy coffee out. Good video, thanks for making this, Janet and Mike...Jim
Good stuff! Thanks Jim
I love the Philippines and lived there for nearly 3 years, but as a retiree, it’s become too expensive for me. Why? Going by your figures, it’s 2-3 times more expensive than what I’m paying for now in a different southeast Asian country. My rent for a new, fully-furnished, 1-bdrm. Apt. with split-level Aircon in each room and free water and Internet, plus a 45-inch Smart TV and a washing machine with a balcony is only $200 a month. Drinking water is 62 cents for a 5-gallon jug. The only other bill I pay is electricity which runs between $40-$70 a month. English is spoken and understood here in this other Asian country and the US dollar is used. A 12-month retirement visa is only $290 with no bank deposit required. As long as you renew every year, you NEVER have to leave the country. The weather is the same here as in the Philippines.
That's very impressive. Please tell us where you've settled. Thanks 😀
@@gregben - Cambodia
@@wesgraham2262 I plan on visiting there in 2026, along with Vietnam, Thailand, Indonesia and Malaysia. Good for you! My wife was born and raised in the Philippines and it's family reasons we will live here. She's been away since she was 23, and this April will be her 10th trip home to visit. But, in November, we will be moving there for retirement.
@@TitoBear - Congratulations. I wish you both well in your soon-to-be retirement.
So, do most folks speak English, in Cambodia?
Thanks man.
Seems like a common sense budget.
thanks for watching
hey Mike great videos Great Info thx for sharing this info
Any time!
Mike, I really appreciate and enjoyed this video. It was very good information and I think realistic. TY
Glad it was helpful!
Great info as always Thank you Mike. Rudy G. Plano TX.
Our pleasure! Rudy
GREAT ADVICE VIDEO, MIKE..👍🏼 THANKS..!!
Any time!
Great video had to share this on my Facebook. People are amazed how much it costs in Philippines 🇵🇭
Thanks for that!
I know people living here on 700 , 800 , 900 , 1k ,1200 , and up . They all live good , you adjust to what you have anywhere you live.
Thanks Mike, excellent video!
Glad you liked it!
Hey Mike nice budget video. I hope everything works well for you. I see some comments for yes budget and nope just spend and spend. Well spend spend will get you broke broke. I've made several trips to the Philippines and its very easy to go thru the $$$$ once you are there. Like you mentioned keep your receipts and what I do is record my spending in the notes part on my phone so I have that record. Budgets will always change as emergences will pop up and everyone has to be prepared for that. I think you and Janet covered everything really well, The difference is Canadian rate is roughly 40 - 1. Thanks again Mike for a informative video.
you need limits unless you have so much you can never spend it all
That sounds like a good base budget, adjust as needed. I don’t understand what the attraction is to Duma. What’s the weather like? I want to be close to at least one good sized mall, a good hospital, and nice walking paths. I want to walk at least one mile a day, plus walk around in the mall. I want to be near a good church but not catholic, maybe Baptist or something a little bit upbeat. I’ll have to do some exploring to find the right place. Right now I’m thinking Iloilo city, but there’s so many options. I might die of old age before I find the right place for me. I plan to enjoy the journey. Most importantly is, Colossians 3:17
Thanks Mike, Good information.
Your welcome
One smart move is to bake in a 20-25% drop in the currency. You might not thing it will happen, but it will. Peso was at 40 in 2013 and 2008. Personal experience - we moved to Thailand when the baht was 34 vs USD, but a couple years later it was 28. Wise to plan for currency fluctuations, whether building into your budget or transferring $ when the $ is strong.
Your rent seems high mate . I have a beautiful new build 2 bed above a shop in Duma for 14000.peso a month . Love to see what you have
Oh goodie. Another budget video
thanks for watching
This was very good! Thanks!
You're welcome!
Appreciate it Mike, great information.
You're welcome
You’re a good man Mike. So generous and loving to Janet and her son. Your budget sounds low but prudent
to be honest it is high but we have her family over a lot
@@mikesphilippineretirement🙏🏼
Thank you great information😊
You are so welcome!
We looked at our budget, now that we’re settled into the condo. P75K looks about right. We’ll see how it pans out over the next 2 months, and see how much of the P100-P110K income, we are putting away.
Thanks Mike, great itemization and breakdown 👍
Sounds great! did you say P75K. Good number and glad you have more income if needed
Great video Mike. Thanks guys 👍👍👍
Our pleasure!
Aus single male pension = $2005.AUD. On your budget estimate of $2200 USD per month. I would be $1,035 AUD per month short. That would be $12,420 per year shortfall. I can actually live in Aus cheaper than the Philippines. I own my own land and home, grow some of my own food, own my small business, collect my own water, have my own solar power off the grid. Have no debts.
But how can I put a price on a caring and supportive partner for my golden years. If I was to find a Philippa, we would have to spend most of our time in Aus to save money and have vacations to the Philippines. Not really what I had been planning. Thanks for giving me more to consider.
enjoy your retirement Don Wells
Thanks for your info, it Will help a lot for planinh a visit or longstay, Regards Hardy from Sweden
Our pleasure!
I love these budget videos!
thanks Gary
Thank for the good numbers, we are working on our plans for retiring to the Philipines and using a figure of $800 p/m for rent and utilities x 15 years = $144k for housing. Based on thus number we are going to buy/build a small off grid house house there for ourselves, then when we go back to the US, just give the property to my wifes nieces. Your numbers helped validate this for us. Thank you much! another GREAT video!
thank you so much
Just wanted to say that in my opinion if you are going to live in a province (out in the country) if you take a little time looking it is best to buy a house that is already built or under construction BUT learn as much as possible about the way it was constructed before you jump.
I'm glad we built and will never sell our home or property but there are many, many, many, many, many lessons you WILL learn if you do build. Good advice is hire someone before you start that has already been down that road to help you from BEFORE you start and no matter what they charge you, their advice WILL save you probably at least a quarter of the total price without their help. Plus buying property is usually, almost always a nightmare even if it is legitimate.
Keep in mind a friend of mine is renting a nice house in the mountains near Dauin about 8 kilometers up in cooler weather for less than 90 USA dollars a month and has been there for 4 years plus I'm not sure how long before I knew him. Again take your time while looking. Rent at a really nice place in a smaller town on a highway is 3-4 hundred dollars a month usually with a pool to tell you what kind of place we are talking about.
Anyways your estimated cost for rent is more than double what you will pay if you do it half way right 😉. Good luck.
This is a nice budget ... the fact you cover over misc. and savings is SOOO important, because this is where most budgets fall short. And, like you said .. if I am going to go island hopping, that money should come out of the money I manage to save. Only thing I have to add is, my wife is a "shopaholic", and my house is paid for so it's a wash. lol ... Good video.
do i hear the words shopee!!
Your budget sounds realistic. I hope it doesn't change much before I get there.
It should not
Hi Mike, thanks for taking the time to do a budget amount for the common single guy. I am your age and those numbers you came up with are very helpful to understand what my costs would be.you always give helpful information. Anyone thinking about moving to the Philippines should watch your channel for great information.keep up the good work.
I appreciate
🤩SPOT ON !
🙌
Budgets look good, yours and common. For me personally, I'd add in something for traveling since I plan to travel each month for a 1 or 2 week trip someplace and would want to set aside the money for all the costs involved with that (resorts are typically more expensive).
I have traveling is from my saving. If your spending to much and not saving anything how can you travel
@@mikesphilippineretirement If someone is spending too much and not saving, then they'll need to earn more from side-hustle income like TH-cam or something else that can be done online. Another option for saving travel money is to find a cheaper place to live, like Cavite province where some other vloggers live very inexpensively.
I think your assessment of the numbers are spot on Mike, thanks for sharing. My wife always tells me “Let’s leave the US, as long as we have $2,000 (USD) passive income per month tera let’s go” lol. And I agree with her that 2k usd per month is a good life in the PH.
But for many years I’ve lived by the mantra “live on less than you make”. That said I want to save as well, which means I will want more than 2k per month coming in. We will hit our passive goal number in a few more yrs then we can come over and live the dream like you 🤙🏻
Take care/amping there bud!
Jake
I completely agree with you Jake
I like your reasonable, stick to the facts, straight forwardness (compared to a lot of them that mix in too much bs) ..
Thank you. I try to get to the point most times
Very helpful for planning, thank you. My budget would be very different but gives me a great idea for planning
what would your budget be
@@mikesphilippineretirement Just different lifestyles. My stomach has issues, so I pretty much only eat at home. Very rare I would eat out or even get coffee. I also eat pretty simple. Chicken, fish, eggs, rice, low fodmap fruits and vegetables. My grocery budget in the US is fairly low. I am planning on my rent to be quite a bit higher though, I want to live in a nice condo with really nice amenities and most things I need in walking distance. Anywhere from 1000 to 1500 for rent is about what I am hoping to stay around. I also budget a lot for toys lol, especially technology. And I have zero interest in dating haha. I just want to be in a nice hot climate with friendly people.
@@mikesphilippineretirement id figure over 100k a year give or take.. ok so 80k.. something like that. i saved a lot.
Great video's, thank you. Difficult to find monthly rental prices in some of the mountain cities, what's the best way to find rental prices?
Good question! I use marketplace on Facebook
I think you hit most everything anyone would need, thanks
Thank you I tried
Thanks fir sharing
Thanks for watching
This video is fantastic. Thank you! I'm 40 y/o. One year in Thailand so far. Budgeting $2,200 monthly here in Thailand with my Thai girlfriend. When I was single here I was averaging $1,500 monthly, living large. Could've done it for much less. Sounds like a single life in the Phillipines would be a great life, too, with that same money. Not much of a drinker/partier, occasional beers, but definately a foodie. Disabled US Army Veteran, so medical would be easier in the VA clinic there, too. Something to think about now.
Thank you
Mike your budget there is now the exact same as mine here in East Lansing, Michigan. the only difference is you pay rent. i own my house with no debt. i travel around to places i want to go by car, train and plain. i dont stay in 5star resorts. i do some homework and shop and find the travel deals. i find deals on everything. i have full Medicare. it saved me about $150K when i was diagnosed with prostate cancer. i needed 20 radiation treatments and meds. im doing good now. i will travel to the Phils for vacations and fun, if and when i can get a deal. and the deals are out there if you know where and how to look. my house is a modest 5bdrm 2bath home in East Lansing. worth about $300K. i have plenty of retirement savings. my adult kids are here, young grand kids too. i go to the gym every day. i have friends there. it satisfies my social needs too. no hanging out at coffee houses, bars and restaurants for me. keeps me out of trouble and healthier😂
That's great Glenn. I enjoy going to coffee shops here in Dumaguete
Very helpful content. Salamat... Lechon
your welcome... thanks for your comment.
Thanks Mike 🙌
Welcome! Michael
Nice video mike. New subscriber here.
thank you John
Good Video Mike 👍
Thanks 👍Jimmy
Your budget is going to be your budget(good one). Think you did a pretty good job for those guys coming to the Philippines on the monthly budget for them(somewhere pretty close). I'm just glad you didn't say you can live like a king on 600 dollars, ha ha. Did you cancel your Pacific Cross policy, if you did, why? I saw in a video about another vlogger who canceled his Pacific Cross policy too. Good video Mike.
yes the cost is going way high and they don't cover that much
Mike, I think this is the most accurate break-down I've seen on TH-cam so far. My budget would probably be closer to yours than to the common budget, because I would hire a live-in maid (at least until I have a girlfriend) and I don't drive motorbikes, so I would get myself a car. Nothing fancy, but it would cost more than a motorbike for fuel consumption, maintenance and insurance. I guess I would need about $2K. Thanks for your very detailed analysis.
thank you
@homebasebelgium359
@homebasebelgium359.
Don’t drive cars and trucks in the philippines. Only drive a motorbike. Many vehicles drive on the road without adequate lights, drive without regard to traffic rules, tons of homeless people, kids and everyday people walking in the road….you hit a filipino with your car or truck and they are get seriously injured or die you as a foreigner are going to prison.
Also you will be extorted out of a large amount of money even if your involved in a minor traffic accident.
The police will always side with filipinos….so its always foreigner fault regardless the facts and circumstances
@@Imold774 Thanks for your advice, but I have driven cars in the Philippines many times before. I adapted to the Filipino driving style and never had a problem. With a motorbike you can have an accident too and that will almost certainly put you in hospital if you survive.
Mike, IMO ya nailed it on this one. Start with the Baseline Budget you provided and then add lifestyle to it. I didn't see any unaccounted for items/issues. I personally would double the Misc. just because... but that's a small item. Great job, now go take a break my brother and Pretend your Retired hahahahha. Peace and Love, B Goat
I am retired YT is easy the hard part is making people around me happy
Thank you Sir.
You are most welcome
Thank you, Mike for all the work you did for this video. The only answer I still need to find is how much its going to cost in Health insurance for an expat family of two expat adults and two children. I'm in contact with Michael Onstad now, so I should have an idea soon.
-Steve
He will tell you . Tell him you know me and want a discount
@@mikesphilippineretirement
Thanks, Mike. I certainly appreciate that.
good job( spot on ) little high tho depends on living style
Thank you Mike as always. My budget similar to yours probably around $2,000 U. s. Hot season is coming of this is the first month my bills gone over 5,000 pesos in the last year. Very hot up here i forgot to mention i have three here. And two most nights that are her brother's kids. The brothers wife is a foreign worker in saudi arabia under two year contract so we help with the kids. Thanks Mike
It was every hot yesterday.
Hi Mike, Excellent, Great budget summary! Makes me want to go live in the Philippines❤I live in Fort Lauderdale Fl. Our house expenses with everything included…is over $6,000.00 /per month. Our mortgage alone for our home is $3,000/per month. Florida USA 🇺🇸 is so over priced. I do have family in Manila.
Thank you for the great video! I Love that you put the figures up for us to see, not all TH-camrs do that.
Thank you
Yes! It's crazy! I had a house in Tampa, Florida paying $2,400. I've been living in Thailand now for just over a year. Phillipines next! No turning back! Living like a King on an average spend of $2,000. Can do for much less if I wanted to!
You can live for less in america depend on were you live $ 3000 $ mortgage or 500.000 k home not in my budget ever
@@garrylafferty100 For sure it's possible, but nowhere near able to have the same quality of life. Really depends on an individuals (goals).
I believe you can live comfortably on 800 if you plan ahead and build a home and buy your transportation like a multi cab or motorcycle. I am married to a Filipino and we bought a lot and have our home being built now. I’m trying to eliminate a big part of our monthly expenses before we move there next year.
That's what we did. I'm moving into our home in November. We built it back in 2019, but the Pandemic kept me from my plans of Early Retirement (Pre 62) .. so my wife will hit 62 this year and we will both be home soon.
Total agree you can have a low budget if you spend a lot up front. Building a house, buying land, and buying a car.
Budgets are subjective and vary according to the disposable income and the lifestyle you expect to lead.
Relocating to a new location is a major decision. You can compare it to buying a new house or car.
The initial purchase price may not be too daunting but when you factor in things like running costs state taxes access to amenities you take for granted what seems like a bargain really isn't. Mike you compared cost of accommodation in Cebu to living near Valencia.
Additionally things change as the kids and you grow older.
Giving an "illustrative" budget is a good idea because it's clear some expats don't give it enough thought before moving.
My considerations are.
1. When I get there I'm living on a fixed income. Overspending is going to impact on lifestyle because I can't easily generate additional income to cover an overspend.
2. I know I need a cushion in terms of an emergency funds.
3. I know when I arrive I'll want to explore but equally need to get out of "tourist mode" fairly quickly and live as I hope to on a daily basis.
Your income stream and budget is, in effect, your heartbeat. If it fails so do you!
It's important you look after your financial health with regular checkups like you do your physical health.
Great Topic😊
thanks for sharing Steve
Good information 👍
Thanks
Hi 👋 U2. I would think that $2200 a month is a comfortable budget for single person or for your family. It’s about self discipline & control with your finances. We all must decide how far our $$ goes not trying to exceed the budget if possible. Thanks 🙏.
Blessings 🙏🌸🌺🌼
thank you chicken legs
Gee Id think living as an expat one would have savings etc. I lived 2xs as an expat in asia but on the crazy rich side of corporate paid housing. you would not believe me..
So I'm going to put this to the test as I will be Living in Dumaguete as of Mid July joining my Girlfriend there and will be getting a New Honda PCX and Multicab with small apartment as i have some contacts and friends but life is flexible and fluid. Don't rely on just Social Security and have some passive income in case and have a big buffer zone. It all depends on what your want and lifestyle and enough trips there to know the difference as vacation mode and hotels or Airbnb are much different as last time i stayed in apt and condos. Plus the more you like local food vs western is a Big savings as I'm a Big fish eater and was a vegan so salads are tougher to find; but worked a deal with local farmer buying his produce direct. As the "Learning curve" is the most expense so girlfriend saved me a bunch as i'd rather spend difference on her.. haha win-win
how do you plan to have a extra income
Thank you! Smitty.
Our pleasure!
Your budget would be closer to our budget. I think about the exchange rate dropping to 40 pesos to the dollar and that scares me a little. Thanks...hope to see you in April
Good point!
First off, love the video. Thanks for all the great info. My main concern is medical. I have tricare and also VA. All of my ailments are covered. How does this work if at all in Dumaguete? I am married 10 years to a Filipina living in Florida. I am 50 and am retired and we are looking to live part time in the Phils. I don't want to live in her province because it is small and not much to do. She can go visit there if she wants lol! I have a decent budget for living, but not like $10,000 a month guy. $3000 is my high estimate but I like my Aircon and amenities. Plus I still have Oh Shit money I can save each month as well.
thanks for sharing Jeff
If you have 3,500 to 4 k a month, you'll live like a king here
Best budget are unlimited budget !!!
a budget of 100k or more USD works great
I do appreciate your information extremely precise I thought around 1500 I plan on having around 5000 start up money thanks for your help i really appreciate it 🙏
Glad it was helpful!
I agree with Philhealth, you can get that but I advice is for you to pay the lowest amount possible and just get a prepaid medical insurance/coverage. These prepaid medical policies can help you with emergency situation and some even have unlimited physical and dental checkup. I am not an agent for these policies, this is what I have been doing for years. Philhealth is helpful but mostly they only cover terminal cases.
Hi Mike!
Outstanding information and for sure I’ll be rewatching this and writing everything down. One question on start up moving in expenses, let’s say furnished. Is it 1st month rent /damage deposit and last month rent, like here in the states? Thank you!
most times 1st months rent in Advance with 2 months deposit....when giving the deposit have it written as last months rent and one month deposit
@@mikesphilippineretirement thank you! Makes sense as basically it’s the same way here. Thank you for taking the time to answer my question Mike!
Hi Mike
Your budget is your budget.
I would like to see what 35k place looks like, any chance to video that?
Just a thought that whatever ones budget is, must remember inflation.
I think personal if you are able and to do it, grow some vegetables, i plan to once retired.
What about a supplement wage, sideline job.
If your girl/ wife is free, bot 24/7 but 2 to 3 days a week, make some $$$.
Just my thoughts.
Hope you & janet had a super easter.
Cheers 🍻
we had a Good Easter holiday. part time work does not pay. If you need and extra 1000 peso a week you should rethink living here
Nice budget video period
Thank you
Not giving my retirement funds to a gf and kids, I've been able to buy a car and scooter cash with the money saved here. My expenses are around $1,750 in manila, but I'm in a huge penthouse (you need to find the deals) it's a renters market in Manila, with all the bells and whistles of a big metropolis. Doing $2,250 for a basic province life is cringe to me. 😅
yes living in the Jungle is hard life
I could never live in a city. Sure, it's nice to visit, but I prefer the province 10 to 1. Manila has 1.8 million residents in just under 17 square miles, and we have our home in Guimaras, ... 233 sq miles with 187,000 people. Fourteen times as much space with only 10% of the population.
Green Acres is the life for me.
Enjoy it alone Gerald. Mike has a beautiful family that’s something to proud of.
@@katemiller7874 LOL, who asked for your opinion Karen.
I am freshly retired in the USA. One day I will have to try this "budget" thing you speak about! 38 days and counting!
someday
Great breakdown
thank you
Mike - One thing I did not see in your own budget (correct me if I am wrong) but I do seem to remember that in a previous video you said that you gave Janet an allowance of maybe 10K pesos and that could apply to guys with a girlfriend out there.
Janet no longer gets an allowance as she has her own income that is way more than I was giving her
Very reasonable budget, but I am 71 and was hoping for a smaller one.. Housing and health insurance are more than I expected.
You can find cheaper but will you be happy
@@mikesphilippineretirement Good question, no way to tell till I try...
Stay in the US and have some form of security .
Sounds good to me finding a furnished Apartment don't drink much Coffee i will see when i get there June. 5 th i have to find. Out how to transfer money from my. Bank to PI
a few dollars
You should do a video on how to contribute to social security for your Filipina wife or partner. That would be interesting seeing the documented process. I researched online myself and plan to do it for an additional income source for the future for my wife. I also purchase cash value insurance for everyone as well which pays a monthly stipend in the future as well as life insurance for me so hopefully when the time comes my wife will be able to continue a comfortable life. Thanks enjoy your content
you talking about SS here in the Philippines?
@@mikesphilippineretirement yes, can’t do that for US, other issue is I have heard that the Philippines SSS is mot always reliable on payout? Thanks for replying,
Your budget is what suits you within your means. What works works for you as an individual and family your dynamics.
Yes I think you spend a lot but you get what You want.
I think one could “get by” on $900 to 1.200 per month but that means a different location and lifestyle. Probably gambling on health issues, no health coverage, while a bomb could hit any older person at any time.
Food well do you garden? Do you have an area to garden? Do you want to garden? Is local food good enough or do you need western food types? Hey I love fish and seafood but maybe you don’t.
Scooters are not overly expensive add fees plus fuel and maybe that works. Perhaps you’re not comfortable playing bumper tag on Philippine streets…
What works for anyone works for them.
I Hate coffee you don’t that just a little difference but $ spent or not spent adds up either way.
well said
As far as gardening goes. The cost of local produce is not expensive. Some people like gardening. it’s something to do and they enjoy it.
There are cooking tips to get your food bill down probably. Can of chicken something as a base 30 something pesos maybe one package of flavoring. Mixed veggies from the market or grocery and maybe some rice for a soup. I am coming up with a high estimate of $160 but I don't have that mucheat in my budget it includes 200 pesos a couple times a week at jolybees .. $40 a week is a high estimate based on bad exchange rates.
Sorry my friend that is not what I call Living
Budget? What budget? I don’t need no stinking budget ☺️. I am extremely blessed and fortunate 🙏. Hard, if not impossible to spend my monthly income? That’s One reason We travel soo much. I guess I could save? 🤔 Nahhh! I believe we should spend and enjoy NOW! One never knows? Tomorrow is not promised 🙏. Also have loads of credit cards in case of emergency. Living the dream 😎 Good luck Mike and Janet , wishing you the best. ❤️
Yes you can live like that. Hope for the best
Thanks for sharing!!
A budget is a spending plan based on income and expenses. In other words, it’s an estimate of how much money you’ll make and spend over a certain period of time, such as a month or year. (Or, if you're accounting for the incoming and outgoing money of everyone in your household, that's a family budget.)
Pulling money from another account for traveling is not a budget. Also for a single guy, where are the numbers for dating?
thanks for sharing
Reasonable budge. Mike I spend 156.00 dollars at Walmart once every 2 weeks I eat lots of egg. Whites and salads
a wife with a 17 yr old daughter is 600 + a month at walmart for us
thanks guys
Very interesting
EXCELLENT EXPLANATION!!!!!!!
Glad it was helpful!
Hello Mike, very valuable information, now have a questions about for a single man like me that wants to work in a call center or english job, do you think that I could do a livin, appreciate it ? thanks a lot....
One thing you might have to do is even if you get a furnished apartment you might have to buy a mattress as some places might have thin hard mattresses
yes a new mattress
Also must consider the strength of the U.S. Dollar, if the rate slides to 40 peso to the dollar can be a game changer
yes it can but I do not think any great change will happen
@@mikesphilippineretirement It actually happened while I was in the Phils on holiday. Look up "Edsa 2", The exchange rate went from over USD 50 -1 to 39 - 1... literally overnight.
30 Mbps (Megabits per second) is adequate for 2 people watching TH-cam in HD (1080P) simultaneously. 150 Mbps is overkill unless you have three or four people watching 4K video simultaneously.
200M here is only a 6-700 pesos more than 60M service. When i first came here 2 years ago you couldn't get 50M. Now i see they got 1G available. They're building that internet fast here. Chinese have been coming in
Also stay in cambodia. Lots of things here cheap but electricity is expensive
Happy you like it in Cambodia but it is not for me
@@mikesphilippineretirement Mike, may I ask what it is that you don't like about Cambodia? I'm trying to weigh the pros/cons of Cambodia vs Philippines. (I realize it can be personal choice.) Was interested in Vietnam too, but those 90 day Visa runs are deterring me... One thing that draws me to Philippines is the Phil Health. I know it doesn't cover a lot, but at least you have some assurance you will at least be seen in an emergency & not left in a hallway to die. 😉 I do realize you need to have savings & open credit card(s) to help with potential hospitalization costs. Hopefully, in most cases, I would be able to return to the States & utilize my Medicare for anything serious or needing lengthy treatment if needed.
Im here in the Philippines vacationing Alona Beach Bohol " research " for the 2nd time in past 5 months.. Retired, but still 4 years left with younger kids in USA school..Great budget video. To anyone thinking of the move, you should vacation here a few times. This is a great option but not the only one. However, Philpina people are excellent people.. Pretty warming. yes your over charged with a smile😂
love the smile
Thank you for excellent work on budget.. This is most clear and concise budget i’ve seen from vloggers on TH-cam..
Wow, thank you!
Check out Alex / the Russian - his 6 mo. detailed average expenses in Dumaguete. Very detailed and extremely frugal - pretty amazing.