I just watched a finance show based in the US. A caller into the show said he just got engaged and then ran a credit check on the woman. Found out that she had a "Family" credit card in her name with $19,000 in debt. She said her mother uses it and there is no need to worry, her mom is helping her build a credit history. Wow to everything.
It actually costs less to maintain a cool living space by keeping your AC on than to come back to a hot place where the AC compressor and the capacitor keeps up to cool down a hot space. When a room is cool and sealed up all the AC does is run the fan to circulate the cooled air. The better the room is sealed up and insulated the better this works. Huge power consumption as it clicks back and forth on the capacitor. I tested this in my small apartment and a few years back put the AC in the main room and shut all doors and as I would come home from places turn it on only to get things cool then off at night then on in the morning etc and my bill doubled. Now it runs all day with a fan circulating and my bill is consistent and has never reached that doubled mark. Might want to experiment in your own situations but this has worked for me. Much cheaper and much more comfortable especially when you can sleep or during the day keeping things constantly cool. Great videos as usual 🎉
Steven Awesome video, thought I was cheap and tight maybe the better word is frugal but you take it to a new level! 80$ for your pad is insane! You seem to enjoy every minute of everyday and you can when you're a budget conscious person like yourself! Much love
I have ample budget to be here, but want to save some to buy/build a home later. I discovered a two months back how much I was spending. It was huge and I could not track where the money went. So the GF and I started tracking every pesos, stayed in much more, and now have a good sense of where it goes and how to stay within a budget. Now we are on track, and if something comes up, we can see where we can cut back.
Steve is right on this stuff. When I hit my 70s my medical expenses shot up. My heart has had issues since I was 40 years old and now I have more expensive imaging and more referrals to specialists. When I lived in the Philippines I also got a chronic infection that kept coming back. We had a $50,000 medical fund in the bank. We used $20,000 in one year for medical in the Philippines. That was about what we spent on all our other living expenses....and we lived good. I am glad I was not thinking that these medical issues would only happen to other people. We returned to the USA and my wife went back to work. She puts all her change in a large coffee can and I am never out of coffee money!
Steve, good solid advice. My strategy is to stay debt free and continue to pour money into my dividend, paying investments and IRA to keep building wealth for the long term. I'm fairly frugal but will live comfortably.
They do the sale thing at Home Depot here in Florida. They will raise the price of say a nailer $100 for a few days, then advertise as at a reduced price for the regular amount they were advertising before! Lots of good info here. Thank you, Steve...Jim
Hey Steve, another great info vlog on doing a budget....you were spot on on the things you said. It is easy to be a spend thrift when the peso seems like Monopoly money......but it is important to know how many dollars you are spending when spending pesos.......I wanted to ask why you have not been doing your vlogs walking around the park that you did for so many vlogs.....Did it become to crowded?.....just wondering...thanks again!
@@MrSteven5975 thanks for the reply....I just missed the walk and talk of the past vlogs....hope your sciatica gets the treatment you need....Thanks again for the great update vlogs...
I think financial issues start with those who don't know how to do a budget. Many will only put down the larger expenses and go by that. They now try to figure out where the other money went, like all the sponges, paper towels, tp, transportation, etc went. They're all so cheap. I couldn't have spent P15k on Misc expenses! Without a budget, how do you know what you spend against what you took in? If you make P100k a month and spend P95k but only budget P75k, where do you find the fault? In misc? Guesstimate budgeting is for fools, and why many fail. As to 6 months back-up, I think that's a bit much if you're retired. Maybe 1-2 months. Nothing much can stop your benefits, and even if they are, most can get it solved in 10 days. Closing of bank accounts is a different story but can also be fixed within a month. Back for monthly bills should be separate from an emergency fund.
I only transfer 150,000 php into our BDO account for My wife to manage our monthly budget. The rest of the money from my pension stays in my bank account in the states. We do that as well keep the air conditioning set on 26 from 9 am to 9 pm and from 9 pm to 9 am set on 27 Not going to lie I hate paying for something I never use. Insurance is one of them, not that I ever want to be in a position that I need to use it. I pay about $2,000 dollars a year for health insurance through Pacific Cross. I guess if I get hurt in a car accident it may come in handy but if I get Cancer ill be going back to the United States. Good video Steve.
@@aboveitall9600 we live on Samal Island 🏝️🏖️ the Florida vacation spot of the Philippines, things are more expensive here. I put 25,000 php of the 150,000 php in my emergency fund at BDO bank here most months, not all I'd say 8 out of 12 months as part of our budget.
Damn i want to make the move i got a 2000 a month pension and a beautiful house 3 bedroom in allen samar paid off! Problem is im 54 cant get my 401k till 55 years of age but im going to work till im close to 57 then im moving to philippines philippines with my wife which she living in philippines im in USA working! But i want to be on safe side with money ill be only 5 years from social seruity that be another 2000 so that put me at 4000 a month! So im close! Im just trying to hang in there a few more years
I don't go to beer joints or girly bars. I don't gamble.I don't chase wild women. Wife and I rarely eat out. We eat simple and nutritious foods.For 40 years I get the bill and pay the bill: haven't ever paid interest on a C/C. House was paid for in 14 months (during the great recession). Currently broker estimate is $490,000.00. 63 acres of rural property was paid for in 4 months: now valued at over $500,000.00. Obviously I hate debt.I don't use a written budget: been conservative financially my entire life so I don't worry about going bonkers with money.
Yes no problem, I did the same two years now. I always pack with carry on bag with receipts and prescription. Sadly medications are very high in the Philippines
It's simple. Come here with an income. Buy property. Have savings. Have investments. Have no debt. Have medical insurance. It's basic economics. I didn't come here to budget. I came here to live a decent life, and not worry about costs. My emergency fund runs into millions of pesos, so if it all goes to shit, we are sorted.
th-cam.com/video/RolOF-mZ_AY/w-d-xo.html The above 4 minute video at one point shows my thermostat at 87° and this was at 7: 00 or 8:00 at night. I don't use the AC. My electric bill this month was 39.00. I like heat more than I like cold 🥶. You can also see how simple I live
@@kevink3975 being born and raised in South Florida with no air conditioner I'm used to using a fan. I prefer heat to cold 🥶. I almost go into thermal shock when I go from 90 plus degrees outside and my apartment is 85°
@PeterHD-hj6bi I agree, we decided to get another bigger aircon for the house in May ! April and May were oppressive! I am sure our bill will be much higher next year.
"Everything is 100% off when you don't buy it." Words of wisdom. Also, remember SALE is a 4-letter word. 😂😂😂😂
Enjoyed. Thank you for your great advice of surviving in the PI. Thank you.
White board and its uses are a great idea. As we get older, it is easier to forget things.
I just watched a finance show based in the US. A caller into the show said he just got engaged and then ran a credit check on the woman. Found out that she had a "Family" credit card in her name with $19,000 in debt. She said her mother uses it and there is no need to worry, her mom is helping her build a credit history. Wow to everything.
Hi Steve! Joann from Billerica here! Really good advise no matter where someone lives! Cheers!!! Congratulations on your channel!
@@Adrianafaith123 Hi Joann, Check out my home video.
You mentioned the Emergency fund before the Emergency fund. I call that the Buffer Zone. Keep that buffer in the bank account. Good advice from you.
It actually costs less to maintain a cool living space by keeping your AC on than to come back to a hot place where the AC compressor and the capacitor keeps up to cool down a hot space. When a room is cool and sealed up all the AC does is run the fan to circulate the cooled air. The better the room is sealed up and insulated the better this works. Huge power consumption as it clicks back and forth on the capacitor. I tested this in my small apartment and a few years back put the AC in the main room and shut all doors and as I would come home from places turn it on only to get things cool then off at night then on in the morning etc and my bill doubled. Now it runs all day with a fan circulating and my bill is consistent and has never reached that doubled mark. Might want to experiment in your own situations but this has worked for me. Much cheaper and much more comfortable especially when you can sleep or during the day keeping things constantly cool.
Great videos as usual 🎉
True. My bro was in AC and that's what he told me.
I actually sent this to my 18 year old son! Great video..
Steven Awesome video, thought I was cheap and tight maybe the better word is frugal but you take it to a new level! 80$ for your pad is insane! You seem to enjoy every minute of everyday and you can when you're a budget conscious person like yourself!
Much love
Glad to help!
Be prepared stay prepared is correct Steve good advice!!!
Im Not an Expat But I still appreciate your videos! 👏
I have ample budget to be here, but want to save some to buy/build a home later. I discovered a two months back how much I was spending. It was huge and I could not track where the money went. So the GF and I started tracking every pesos, stayed in much more, and now have a good sense of where it goes and how to stay within a budget. Now we are on track, and if something comes up, we can see where we can cut back.
Steve is right on this stuff. When I hit my 70s my medical expenses shot up. My heart has had issues since I was 40 years old and now I have more expensive imaging and more referrals to specialists. When I lived in the Philippines I also got a chronic infection that kept coming back. We had a $50,000 medical fund in the bank. We used $20,000 in one year for medical in the Philippines. That was about what we spent on all our other living expenses....and we lived good. I am glad I was not thinking that these medical issues would only happen to other people. We returned to the USA and my wife went back to work. She puts all her change in a large coffee can and I am never out of coffee money!
Really like your channel! Good morning.
Thank you so much!
Great video uncle Steve. Continue spitting 🔥 content. Have a prosperous day
Thank you! Will do!
@@MrSteven5975 10/4 have a prosperous day
Steve, good solid advice. My strategy is to stay debt free and continue to pour money into my dividend, paying investments and IRA to keep building wealth for the long term. I'm fairly frugal but will live comfortably.
Great advice!
They do the sale thing at Home Depot here in Florida. They will raise the price of say a nailer $100 for a few days, then advertise as at a reduced price for the regular amount they were advertising before! Lots of good info here. Thank you, Steve...Jim
Watching late tonight and catching up❤
Heck they mark items up here in the states and mark them down and say sale. 😊
Saving is good 110% support this, but we have to remember also we should live a good life within our means.
Greetings from new jersey. Frugal is Fun
It’s amazing that most people don’t have common sense.
Hey Steve, another great info vlog on doing a budget....you were spot on on the things you said. It is easy to be a spend thrift when the peso seems like Monopoly money......but it is important to know how many dollars you are spending when spending pesos.......I wanted to ask why you have not been doing your vlogs walking around the park that you did for so many vlogs.....Did it become to crowded?.....just wondering...thanks again!
I wish I could but my Sciatica and schedule keeps me home a lot
@@MrSteven5975 thanks for the reply....I just missed the walk and talk of the past vlogs....hope your sciatica gets the treatment you need....Thanks again for the great update vlogs...
I think financial issues start with those who don't know how to do a budget. Many will only put down the larger expenses and go by that. They now try to figure out where the other money went, like all the sponges, paper towels, tp, transportation, etc went. They're all so cheap. I couldn't have spent P15k on Misc expenses! Without a budget, how do you know what you spend against what you took in? If you make P100k a month and spend P95k but only budget P75k, where do you find the fault? In misc? Guesstimate budgeting is for fools, and why many fail.
As to 6 months back-up, I think that's a bit much if you're retired. Maybe 1-2 months. Nothing much can stop your benefits, and even if they are, most can get it solved in 10 days. Closing of bank accounts is a different story but can also be fixed within a month. Back for monthly bills should be separate from an emergency fund.
I only transfer 150,000 php into our BDO account for My wife to manage our monthly budget.
The rest of the money from my pension stays in my bank account in the states.
We do that as well keep the air conditioning set on 26 from 9 am to 9 pm and from 9 pm to 9 am set on 27
Not going to lie I hate paying for something I never use.
Insurance is one of them, not that I ever want to be in a position that I need to use it.
I pay about $2,000 dollars a year for health insurance through Pacific Cross.
I guess if I get hurt in a car accident it may come in handy but if I get Cancer ill be going back to the United States.
Good video Steve.
150k php is a decent budget in most parts of the Philippines. A lot of guys are living with less…
@@aboveitall9600 we live on Samal Island 🏝️🏖️ the Florida vacation spot of the Philippines, things are more expensive here. I put 25,000 php of the 150,000 php in my emergency fund at BDO bank here most months, not all I'd say 8 out of 12
months as part of our budget.
Damn i want to make the move i got a 2000 a month pension and a beautiful house 3 bedroom in allen samar paid off! Problem is im 54 cant get my 401k till 55 years of age but im going to work till im close to 57 then im moving to philippines philippines with my wife which she living in philippines im in USA working! But i want to be on safe side with money ill be only 5 years from social seruity that be another 2000 so that put me at 4000 a month! So im close! Im just trying to hang in there a few more years
If you have to explain this to someone of retirement age, I don't think they should retire abroad.
You can't fix stupid !
I don't go to beer joints or girly bars. I don't gamble.I don't chase wild women. Wife and I rarely eat out. We eat simple and nutritious foods.For 40 years I get the bill and pay the bill: haven't ever paid interest on a C/C. House was paid for in 14 months (during the great recession). Currently broker estimate is $490,000.00. 63 acres of rural property was paid for in 4 months: now valued at over $500,000.00. Obviously I hate debt.I don't use a written budget: been conservative financially my entire life so I don't worry about going bonkers with money.
Love your lessons Steve! But keep with American lingo, degrees not Celsius
Steve do you still have a lock on your refrigerator?
It’s built in but never used
I have a off subject question. I was able to get 270 days of my prescription for blood pressure. Is it okay to bring all that to the Philippines?
Yes no problem, I did the same two years now. I always pack with carry on bag with receipts and prescription.
Sadly medications are very high in the Philippines
Yes
After the last 3 year's, not alot of guys can have 70k accessible..Times are hard in the US.
how do you put up with the constant begging, beside the obvious.
Just keep walking or don’t answer
bad audtio steve background noicse kids ??
Failure to prepare. Prepare to fail
It's simple. Come here with an income. Buy property. Have savings. Have investments. Have no debt. Have medical insurance. It's basic economics. I didn't come here to budget. I came here to live a decent life, and not worry about costs. My emergency fund runs into millions of pesos, so if it all goes to shit, we are sorted.
th-cam.com/video/RolOF-mZ_AY/w-d-xo.html
The above 4 minute video at one point shows my thermostat at 87° and this was at 7: 00 or 8:00 at night. I don't use the AC. My electric bill this month was 39.00. I like heat more than I like cold 🥶. You can also see how simple I live
Our electric bill ranges from 5,000 to 6,000 pesos a month! I like to be comfortable
@@kevink3975 being born and raised in South Florida with no air conditioner I'm used to using a fan. I prefer heat to cold 🥶. I almost go into thermal shock when I go from 90 plus degrees outside and my apartment is 85°
@PeterHD-hj6bi I agree, we decided to get another bigger aircon for the house in May !
April and May were oppressive! I am sure our bill will be much higher next year.
Great FINANCIAL Advice! 🫡🇺🇸💪🏽🇵🇭 💯 Agree with everything you said