How much money do you need to live in the Philippines?
When preparing to come and live in the Philippines many people worry about money. And I must say when researching the internet there pops up a lot of crap on the budget needed in the Philippines. A lot of information is outdated and written as a fact, and it is my strong believe there is no such thing as an actual budget needed to live here that fits all. For it, all depends on your lifestyle.
What might be a glamorous budget to me, can be poverty to you
A few tips on how to determine how much money per month you need when you plan on living in the Philippines
- make sure you have backup savings for emergencies, and emergencies can be as much as having to leave the country in a rush due to calamities or unexpected medical costs, you need money for a rainy day.
- search the internet for the latest information, look at publishing dates of articles and videos, for prices in the Philippines have gone up since January 2018 due to tax reformations and are still going up
- know your budget at home, how much do you spend at home, especially on specific luxuries that you cannot live without. If there are certain luxuries that you absolutely need, add them to the budget you need for the Philippines
- determine whether you want a luxurious lifestyle or clean up your life and live a minimalistic lifestyle, moving to another country can be a moment to clear out the attic but also to change your life.
Here are my budget and my main expenses
Budget 50,000 PHP = 805 Euro = 937 US$
Rent 17,000 = 273 Euro = 318 US
Electricity 700 = 11 Euro = 13US
Savings 10,000 = 161 Euro = 187 US
Flexibel amount 5,000 = 80 Euro = 93US
Total for food and drinks, clothing and fuel 17,300 PHP = 278 EURO = 324 US$
In this video, I explain how much money you need in the Philippines
