If you search/google the internet for ‘Philippines Cost of living’, you will eventually see ads or articles with the topic resembling ‘Live Like A King In The Philippines for 1,500 U.S Dollars a Month’. (FYI: That’s around 75,000 pesos). A foreigner with little knowledge of the Philippines, and a monthly pension or social security income of around $1,500 might suddenly be interested in the Philippines, and wonder, “Is that true?”. If you are one of those people, allow me to give you some clarity.
A king lives in a castle or mansion. He has multiple servants and security at home and when traveling. He doesn’t care about the cost of everyday items such as food. He also has enough wealth and status where many women would want to be with him. Do you really think that there is anyplace on earth that $1,500 will enable a king’s lifestyle?
The reality of a 75,000 peso budget is as follows.
- Forget about the castle/mansion. You can, however, rent a modest sized apartment in a city.Forget about having your own domestic staff. You will be able to afford someone to do your laundry or perhaps a part-time maid.
- Forget about having someone protecting you and your home. At this level of income, you probably can’t even afford to live in a protected gated community.
- Forget about not having a budget. You will need one for food and utilities. You should expect that fast food fits just fine into your budget and you can afford nicer restaurants occasionally.
I’m not really qualified to give advice regarding your ability to attract women at this income level. I’m guessing you will have some level of success, providing you have realistic expectations. (FYI: If you already have a queen, please disregard.)
So now you know. You can’t live like a king in the Philippines. Sorry! Let’s move on.
Before deciding where to live, before considering finances, have you thought about what you want to accomplish with the rest of your life, or at least the next five years?
My goals were simple. I wanted to live a low-stress life with my wife and be able to help others. Our finances are such that we could live a low-stress life in either the United States or the Philippines. We could not, however, do very much in the way of helping others in the United States, given our finances. In the Philippines however, we have significant affordable opportunities to help others.
Below are some examples of what (in my opinion) is realistic/unrealistic with a 75,000 peso budget ($1,500). It assumes you are a single renter.
Read, Watch TV, Fast Food.
Swim, Massages, Buffets
Travel, Party, Massages, Buffets
My wife and I spend more than 75,000 pesos most months and trust me, we do not live like royalty. Not even close.
My rule of thumb for converting an American lifestyle budget to Philippine lifestyle budget is to simply go up one category for the Philippine lifestyle. For example, an American poverty budget correlates to a lower-middle-class Philippine lifestyle. Continuing to use this rule of thumb, if you have a wealthy American budget, you can live like a king in the Philippines.
Congratulations if you qualify, and please consider inviting my wife and me to the mansion for cocktails some evening.