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Stretching My Funds


wayneseymour01

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smokey

I had breakfast this morning at home,cost 110php for the ingrediants,I had lunch today at home,the ingrediants cost 125php,then i went swimming today at a hotel pool,cost me 100php,then i ate dinner at a thai restaurant 180php and left 20 php tip,then i went to the movie and it cost 200 php,then i had to buy load 200php,i took jeepney to and from cost 16php,then i had 2 beers 80php,then i cut my foot and went to pharmacy to get antiseptic cream cost 250php.This is a typical day for me except the cut foot but health issues will kill your budget and if you would do this with a lady friend double the figures.

 

I live on a 3-3-3 plan,$300.00 rent including utilities,$300.00 food in and out and $300.00 for fun money or to cover other expenses.thats $900.00 a month budget

 

 

 

well that is great but not everyone wants to take a jeep everywhere or live next to a rooster and if you notice he said from his money he would buy a HOUSE so with a simple house costing at least 25 ,000 of his money count on 1/2 money gone at least and the rest invested he MIGHT have 650 to 700 left so your budget it to high cut out eating 3 times a day takes to much time and if this is the life he wants for him and his new wife well best of luck

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in that case i seriously suggest that you do not invest in anything .

well as to me when and if you find your self burdened with to many big screen TV or to many cars ,, or bikes dont suffer alone just drop them off at my house and i will take them without charging you

your heart is in the right place but your body might not like it... riding a jeep is low cost but riding a jeep in traffic for hours is to me like smoking a carton a day...

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wayneseymour01

i suggest you apply for a K-1 and stay in the states that is just not enough/// if you get married she can get a job as a caregiver pretty easy and make at least 8 per hour to start there is just very few ways to make money in the philippines and if she is asking you to go there to invest well maybe you dont know her as well as you should yet...

Thanks Smokey but I didnt say anything about her asking me to invest , thats not the case I just was asking what the posibilities were. Just to let know know the 50000 is in kyd currency not US so its almost 60000 when converted to US. I also was considering what type of interest I would get on a 30 day term deposit. which bank offers the higest interest rate ..not those double your money schemes I know better than that ...maybe HSBC which I'm fimilair with also I in the process of selling some propwrty in the Islands which would fetch me an additional 350K-360K. would that work? I like to live very simple I dont drink and not into partying so I was thinking I would need 20KPHP/mth to make it... what do you think? appreciate everyones input.

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expat08

Thanks Smokey but I didnt say anything about her asking me to invest , thats not the case I just was asking what the posibilities were. Just to let know know the 50000 is in kyd currency not US so its almost 60000 when converted to US. I also was considering what type of interest I would get on a 30 day term deposit. which bank offers the higest interest rate ..not those double your money schemes I know better than that ...maybe HSBC which I'm fimilair with also I in the process of selling some propwrty in the Islands which would fetch me an additional 350K-360K. would that work? I like to live very simple I dont drink and not into partying so I was thinking I would need 20KPHP/mth to make it... what do you think? appreciate everyones input.

 

20k is not enough.

 

 

60k will do just fine. You are living in a city of a few million and there are many foreigners here. It's a tourist spot so prices will be up compared to the rest of the Philippines (other than Manila).

 

Try 20k and see what happens.

 

3k Immigration Monthly Allotment

2k Water/Gas/Electric if you are Conservative

2k for Phone/Cable/Internet

1k for Cell Phone Usage (calling/txt/web)

2k Taxis

4k Food (if you wana live absolute dirt cheap)

2k Boarding House Room or Bed Spacer

1k Fun and Going Out

1k Basics and Extra Expenses (Laundry and Hygiene)

 

Damn we're at 18k already?

 

We haven't even started with the Airconditioning Yet or Hot Water Heater for showers........

 

Or decent place to stay.............ha

 

You can always wash your clothes by hand and hang dry yourself..........save you alot of $$$.

 

Taxis SLASH THAT...ride jeepneys for 1k total max

 

Boarding House? Get a bed spacer in Colon or Carbon or Pasil

 

Slash the going out of 1k.

 

make the hygiene at 250 pesos...it works.

 

forget immigration just be an illegal.

 

 

Wow we saved 10k.

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smokey

Thanks Smokey but I didnt say anything about her asking me to invest , thats not the case I just was asking what the posibilities were. Just to let know know the 50000 is in kyd currency not US so its almost 60000 when converted to US. I also was considering what type of interest I would get on a 30 day term deposit. which bank offers the higest interest rate ..not those double your money schemes I know better than that ...maybe HSBC which I'm fimilair with also I in the process of selling some propwrty in the Islands which would fetch me an additional 350K-360K. would that work? I like to live very simple I dont drink and not into partying so I was thinking I would need 20KPHP/mth to make it... what do you think? appreciate everyones input.

 

 

 

i think if your serious and want some stable investment try a tier 2 from one of the MAJOR banks in the philippines .. union is the one i have used... a hard life for a foreigner WITH a women would be less then a 1,000 us a month... she is going to need things... you are going to need to pay fees.. she is going to want to do things go places buy a few cloths make up to make herself nice ,, get her hair and nails done all of this cost money..... best i think so you can enjoy some pleasures is about 1,200 to 1,500 us a month try to make that happen and if you get sick or have a small bike wreck expect to pay cash to get well .. one day i went to a hospital and 4 days later my acct was almost 8,000 us lighter

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wayneseymour01

Please explain more because you say you get 50,000 and then 500 a month, now is this 500 a month coming from the 50,000 in monthly installments or in addition too? Any type of business is a crap shoot here and you may do better trying your luck in a casino for that fact.

 

If you are thinking of moving to Cebu and living on 500 a month you should read the many topics on here regarding that and think twice no matter what any Filipino tells you, its a huge difference from what you may be thinking living is and what a local is able to live on. In my opinion you should have way more than 500 a month to live here.

 

Good luck to whatever path you choose.

Thanks, that 500 is in addition to the 50K ,I am doing alot of number crunching and think that with the 500 plus any intrest from the bank I could squeeze by, you think? I'm not a heavy spender and monitor my funds very tight , she knows that and doesnt exspect to be spending alot after I told not to exspect that,. Just looking to live laid back for a change in my life very careful on spending. a simple house with just the basics is what I would like to get and try to function on about 20KPHP -26KPHP/mth.

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wayneseymour01

You are already a millionaire rich GOD to your filipina. To the rest you're just normal. Best of luck to you. You'll need it.

1st. Have you met this woman ever before here in Cebu? I'd meet and spend a good year to get to know her before marrying. There is alot of BAIT HOOK AND SINKER here. Internet marriages area dangerous thing and I doubt $500 (22,000 PHP) monthly will satisfy her desires let alone her friends and all her relatives. Cebu is more expensive than you think. There are many beautiful women in this city and well educated, professional and mature. If that is what you got then well you have a winner. Just be careful.

 

I live on 35,000 PHP / Monthly and still it isn't great. You really need about 70-100k monthly to live a decent life here in Cebu City.

 

2.2 Million Pesos ($50k USD) is not enough to invest. By Law also you can not own any part of the LOT or HOUSE. Only Condos and Suites can you own as well as percent of businesses (depends on the industry allowed per RA Laws). Your filipina usually owns all of it even if you separate/annul so just keep that in mind.

 

You can do a Food Kiosks, Laundry Shop, Travel Agency, Large Sari Sari and other things. 250k-1 Million PHP starting investment. Not to mention the cost to keep it running plus initial marketing costs. Your ROI is not going to be on the levels of GDP in the US. Expect MUCH LESS that is more feasible for the Philippines.

 

.......

 

I'd get a developed LOT. Build a nice 250sq House with everything. Get a vehicle or two. Your furnishings and everything in the home. Start a small business like wholesale clothing online, sari sari store, something like a print shop and graphics store ID pictures....etc.

 

CITI BANK here has a 2% Interest Annual Yield and does Dollar to Dollar international transfers for next to free to a USA Citibank Account. Minimal Balance of 100,000 PHP.

 

Easy way to transfer back and forth for free in US Dollars and safe. Citibank is stable here.

 

 

 

 

 

500 USD? Call Center Trainees at JP MORGAN CHASE make more than that. And they don't live great.

she is of middle age like myself and a simple down to earth person, I don't try to live like the rest of the Americans ..actual don't like the American high life style were they have to have it all and are grumpy about small inconveniences I know how to make do with what i have and thank God for that much.
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smokey

she is of middle age like myself and a simple down to earth person, I don't try to live like the rest of the Americans ..actual don't like the American high life style were they have to have it all and are grumpy about small inconveniences I know how to make do with what i have and thank God for that much.

 

 

 

your heart is in the right place but your body might not like it... riding a jeep is low cost but riding a jeep in traffic for hours is to me like smoking a carton a day...

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tom_shor

In the city it would be a challenge to live on 20 to 26K a month. Some people have done it but you might get tired of that pretty quickly. In one of the provincial areas you might do better on that amount.

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smokey

In the city it would be a challenge to live on 20 to 26K a month. Some people have done it but you might get tired of that pretty quickly. In one of the provincial areas you might do better on that amount.

 

 

 

maybe he can go to leyte and pick up a house only 3 min. from the beach and live like Gilligan

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broden

maybe he can go to leyte and pick up a house only 3 min. from the beach and live like Gilligan

 

you mean bunking down with the ol skipper?

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smokey

well if its a choice between MRS howell or the skipper it will be a close call....

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SkyMan

I plan on moving to Cebu in a few months to get married . I have 50000 after the meltdown and get about 500 per month. I want to buy a home and invest the rest what is a good venture.We don't plan on having kids(we're both past that stage in our lives). could a small franchise be workable? Not looking to get rich just live and relax.

p2.2M for a house? There are some little boxes well away from Cebu City for maybe p1.3M leaving you with p900K to invest, less than $10K. Buy some used furniture and appliances with that but don't worry about a TV because you can't afford it. Get the cheapest possible wedding but never let your savings go below $1500. .And then you've got an income of maybe p21K assuming the exchange rate doesn't go down. Hope you like buwad a lot! You'll need to spend about p2500 per month on tourist visa extensions. A month or so after you marry you can apply for a 13A visa which is cheaper over the long haul but you can't afford the upfront cost. Make certain you don't have any medical problems here. I give you maybe 6 months before you realized you made a major disaster and then you'll realize why that $1500 is so important. Fly back to the US and get a job and save up to bring your wife over. Edited by SkyMan
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3stripes

The fact that you are having to ask for advice on this means that you are not ready or sure yourself if you can do it

 

How long have you spent in the PI?

 

What will happen if you have an accident and need to pay 300 - 400k up front for treatment? Have you any health insurance in the US that will cover you?

 

Are you preapred to live like the natives? It's one thing to say you are not a big spender but can you drop your standards of quality?

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rainymike

Of course anything is possible. The question is whether or not it is possible for you.

 

Of course an overseas marriage can work. But what are the odds if you've never met her before?

 

Of course an overseas business can work. But what are the odds if you haven't run a business before or don't know the business and tax laws overseas?

 

Of course one can live on a small budget. The question is can you really do that?

 

Other posters give good advice. Might be a good idea to spend some time in country. Get to know the woman and everything that comes with her. Get to know what living here is like - the good and the bad - and figure out if you can survive the bad. Try really living on the budget you propose for a little while and see if you can cut it. Don't believe that you can live like a king for $500 a day until you've really tried it.

 

Back home, you can easily pick up a job even if it's small money. Healthcare is a little more caring for those without money.

 

It's good to pursue your dreams. But do your research if you want to live overseas. And live there for a while and see if the dream is a good one or not. Business is something you should do when you understand the business environment.

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wayneseymour01

maybe he can go to leyte and pick up a house only 3 min. from the beach and live like Gilligan

Hey I appreciate all your comments but for one I don't live in the US and haven't since 1991. I have lived in Honduras and in the raw countryside in Jamaica. I have also lived in Cuba where the norm of your guys so called comforts are piratically non-existent no internet no big supermarket to get your so called favorite foods..I can survive better than most of you blokes that cant do without your big screen TV and must have AC or your whining like a little girl.. I also have lived in one of the highest cost of living areas in the Caribbean. come on guys you guys really don't know what living a hard life is all about with out your little comforts ...boo hoo hoo:( I'm just doing my research just like you did before you moved or did you?) sounds like some of you guys got a culture shock when you first got there.<:>

 

 

;

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