Anyone looking for a new nation to call home needs to look beyond potentially positive economic indicators as nowhere has really been immune from the global financial fall out, rather expats are urged to bank on themselves when dreaming of a successful new life abroad.
Let’s face it 500 bucks isn’t a vast amount of money, at the time of writing and with the current exchange rate it’s around £340 - so is it possible to live abroad anywhere on that amount of cash per month, or are we talking cardboard boxes under flyovers?
Well you can live in the Philippines on $500 per month and here’s how.
First thing you’re going to need to sort out is your accommodation. Obviously there are plenty of houses for rent throughout the Philippines, but a small house in Manila might set you back up to $360 (£240) per month - which is going to eat into our budget quite a bit. So, if you want to be living in the Philippines on $500 per month or less you need to be getting away from the capital city.
Apartments in Cebu, one of the most developed provinces in the Philippines, can start from around $150 (£103) per month. Not that Cebu is particularly off the beaten track. Cebu city boasts 5 star hotels, casinos, shopping malls, golf courses and nearby sandy beaches. If you’re prepared to take cost savings further you can rent a room in a house.
A room with a shared bathroom in a location like Damaguete City in the province of Negros Oriental, can be had for as little as $60 (£41) per month. But don’t think you’ll be living in a flea infested backward city at this price! Damaguete City is one of the fastest growing cities in the Philippines and known as the “university town” as it has 7 universities and colleges.
Home to around 115,000 people, the city also offers nearby whale and dolphin watching, excellent beaches and is fast becoming a prime location for those wanting to retire in the Philippines as it has a large number of medical clinics, good city amenities, as well as a laid back lifestyle.
So we can tick off housing. Accommodation is cheap enough to allow you to live for less than $500 per month in the Philippines.
Next it is on to groceries, if we are living in a rented room we have around $440 (£303) of our $500 budget left. Starting with the essentials, a pack of cigarettes will set you back around $0.80 (£0.55) and a 1/3 of a litre of San Miguel beer $0.50 (£0.34). So to live a typical expat lifestyle and feed a 20 a day habit with 4 bottles of beer each night costs around $40 (£27) per month. We are down to $400 (£270).
Next, on to the secondary products such as food! Lets say you use half a litre of milk per day, 3 litres of bottled water per day, breakfast on two boiled eggs, buy a kilo of rice every 3 days and usually eat out every lunch time and evening at a local roadside stall - something like sizzling pork cheeks or Tapsilog (beef fried rice and eggs), and you obviously get through a kilo of coffee a week, average costs for a month would run to around $350 (£240). So a months worth of groceries plus accommodation costs would still allow you to live on less than $500 per month in the Philippines.
We’re now down to the final $50 (£35). A 5 kilometre taxi ride costs around $1.64 (£1.13) so you can either go on a 152 kilometre taxi ride with the rest of your money or splash out $40 (£27) on a Brazilian wax and head for the beach…walking.
You can see from the above figures that it is possible to live on less than $500 per month in the Philippines. Obviously you won’t be saving an awful lot of your cash, but then, the sun’s going to be shining and the beach is free!
New findings from the Office for National Statistics reveal that fewer Britons are moving abroad – so we got back in touch with would-be expat readers to see whether their plans for relocation overseas have changed, and if so why. Read on to discover why fewer Britons are emigrating…
The most expansive expatriate survey is back and it wants to hear from you. If you’re living abroad then HSBC’s Expat Explorer survey will benefit from your time and effort in filling it in and providing data about your life as an expatriate living overseas – what’s more, fellow expats and would-be expats will benefit from the final findings that reveal where the best places to live abroad are for lifestyle, families and finances
A new survey has revealed that in spite of the royal wedding inspiring us Brits to feel passionate about our national identity, we still yearn for a better life abroad!
Concluding our examination of the main worries that affect expats living abroad and anyone contemplating moving overseas, we look at how expats can prepare for everything from getting good medical care to ensuring that they have the best standard of living available in their new nation.