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What Does $500 a Month Get You in the Philippines
What does $500 a month (U.S. Dollar) get you in the Philippines? How much does a average middle class wage earner make in the Philippines? How much is the average college graduate make in the Philippines? How is living in the United States like compared to the Philippines? How do you buy a house in the Philippines? What is the average cost of a house and how much money do you need to buy and finance a home? How does the housing and mortgage industry in the Philippines work? How much does a car cost? How do you buy and finance a car in the Philippines?
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9 Replies
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Living in the Philippines on $500 Every Month
I’m in the Philippines, and $500 a month is possible. This will give you a good standard of living, especially in small cities or rural areas. Here’s what it usually covers:
Housing: In some smaller cities, one-bedroom apartments can be rented for between $100 and $200 monthly. Similar apartments cost around $200 to $400 monthly in Manila or Cebu.
Utilities: Basic utilities such as electricity, heating and cooling, water, and garbage for small flats may cost between $50 and $100 monthly.
Food: Monthly grocery expenses range from about $100 to $200. Eating out at local restaurants is relatively cheap.
Transportation: Public transport is quite affordable, with monthly costs seldom exceeding ₱ $2,500 ($50). However, having a car can significantly increase expenses.
Miscellaneous: Entertainment, personal care, and other expenses usually amount to around ₱ $2,500–₱ $5,000 ($50 – $100).
Average Middle-Class Income in the Philippines
For the average middle-class earner in this country, I am writing about, their income would be ₱20k-₱30k ($360-540) per month depending on region/industry, etc.…
Average Salary of College Graduate
On average, college graduates earn between ₱15k ₱25k ($270-$450) per month, with starting salaries higher for high-demand fields like I.T. or engineering.
Comparison Between Living in the USA vs The Philippines
Cost of Living: Compared to the U.S., housing costs, food prices, and transportation fares are greatly reduced when you are in the country where you reside.
Quality of Life: The U.S. offers higher salaries than here, but at the same time, it charges more expensive medical treatment while providing better healthcare and other social amenities; therefore, people might need more money due to its higher standard of living. Also, life is less busy here than there, so one can enjoy themselves without spending much; however, sometimes it becomes difficult to find reliable services in terms of infrastructure development because most areas need such facilities.
Cultural Differences: There are many cultural differences between the Philippines and America, including lifestyle, work culture, and social norms.
Steps to Buying a House in the Philippines
Procedure:
Find Property – Work with a real estate agent or search online listings.
Verify Ownership: Check that the seller has a clean title and is the rightful owner.
Make an Offer: Negotiate and agree on a price.
Secure Financing: Apply for a mortgage if necessary.
Sign Contract: Finalize sale with Deed of Sale.
Transfer Title: Register property under your name at the Registry of Deeds office. Record and pay transfer taxes…
Costs:
Average House Price: ₱2mil-₱10mil ($36k-$180k) depending on location (urban vs rural).
Down Payment: Typically, a 20% down payment is required by banks/lenders for purchase loans; some developers may offer lower D.P. schemes, but higher interest rates tend to apply here + as other hidden charges, too.
Mortgage Rates: Interest rates on housing loans through Pag-IBIG Fund/other government institutions like GSIS, etc., vary from 6% to 8% per annum for a fixed rate for up to 20 years.
Housing Market & Loans in the Philippines
In the Philippines, the housing industry is governed by the Bangko Sentral ng Pilipinas (BSP). Banks offer housing loans, and government agencies such as Pag-IBIG Fund also provide them. This market has been steadily growing, particularly in urban areas where there is a high demand…
Purchasing and Financing Cars in the Philippines
Charges:
Common Car Price: A new small sedan costs around ₱700k-₱1m ($12.6k-$18k); secondhand ones are less expensive.
Financing: The minimum down payment required to get a car purchase loan is 20%- 30%; loan terms usually range from 3-5 years, with interest rates of about 4%- 8% per annum, depending on which bank/dealership is used, etc.
Consent: Once given the green light, pay a certain amount as an initial deposit.
Contracts: Finalize loan agreement and other required documents.
Drive Away: Take over the vehicle after finishing all installments of payment as well as paperwork.
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This reply was modified 4 months, 1 week ago by Otis. Reason: Forgot image
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This reply was modified 4 months, 1 week ago by
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The prices are probably 10 years ago.. Living in the Philippines is Cheap in some places specially in provinces but in the city renting a house or apartment minimum is $500. You can get a $100 rent with a studio and sharing bathroom within your neighborhood. Utilities if no aircon, 1 electric fan, small fridge is around $50-$100, Running water in the house is roughly $20/month depends on your consumption.
Food: 1 Kilo chicken is now $2.50, Pork depending on the cut minimum is $3.5 per Kilo, Eggs 12 dozen is $2, Tomato is $5/Kilo, Onions is also roughly $5-$10 per kilo,
The food indicated on the post $100-200 is for a single person a month. But for a Family of 2-6 $200 per week on a budget ( if you will only eat once a day)
Average Salary: Minimum of $500/ Month for undergraduate. Service crew (Mc Donald’s, Jollibee, KFC and Burger King) That’s why a lot of companies are outsourcing her because of they can hire call center agents for $500-$1000/ month ( I dont know if you noticed that most customer service are from India or Philippines)Cars are very expensive here most regular Filipinos cannot afford unless you buy a second hand car or you can just commute ( Jeepney, Tricycles, or Train) .
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Conversion – $1 dollar is 55 Philippine pesos.
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So what can $500 U.S. dollars get you in the Philippines. Or $500 x 55 = $27,500 PESOS get you in the Philippines 🇵🇭. How much is a monthly mortgage or car payment. How much is a purebred dog. How much are homes and cars.
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For Mortgage depends on the locations, If provinces normally is $500/ month. But if in the city it ranges to $700-$1000 or more. I guess if you are a dollar earner living in the Philippines, family of 6 like us should atleast $2000-$2500 a month (still budget but not that tight budget). Why? School for Kids (preschool, grade school is $1300/year but most schools offer monthly payment) Kids needs, daily necessities, Rent etc..
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Living comfortably here must atleast earn 250,000 Philippine pesos or $4500/$5000 a month. You can pay rent, groceries ( Eat 3-5x a day) Good education for kids and can pay car monthly ( For a sedan it cost $350-$500/month amortization for 5 year term)
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In the Philippines, $500 a month might be enough for a single person with/ no obligations. But it is generally not enough for a mom with 3 kids to live comfortably. Imma breakdown why this amount falls short on my experience:
1. Rent – 10,000 for a modest apartment. This takes up a significant portion of my budget.
2. Utilities – 5,000 – 6,000 for electricity, water and internet.
3. Groceries and Food – 7,000-10,000. I have 3 kids who are always hungry. And 2 dogs.
4. Education Expenses – I have one kid in highschool and 2 in elementary. Although studying in public schools, there are costs for uniforms, supplies, and the never-ending school projects. Extra curricular activities may need additional resources, too.
5. Transportation – 2,000. Daily commute to school is costly.
6. Healthcare – 1,000-2,000. Basic healthcare needs and occasional medical expenses strain my budget further.
7. Miscellaneous – 1,000-2,000. This covers clothing, hygiene products, and other unforeseen expenses.
Given these costs, $500 a month is insufficient for a mom like me with 3 kids to cover all necessary expenses.
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Wow. Thank you for clarifying this. Let me ask you, Anngelli. I know hands down you are very talented. I can tell from your writings and editing articles. I know that you will be very successful in whatever you do. You and April have been a Godsend and the way I see things and am a firm believer is you do not work for money. If you work for money, you will not enjoy work, life, and won’t have self-gratification. God gave all of us one life. During that life, we have a chance to accomplish success. Everyone’s definition of success is different. A postal worker working twenty years as a mail carrier and getting a pension of $2,000 per month for the rest of his life may consider that he achieved success. More power to him. Others like me, I had everything and then some at the age of 40 years old and did not do with my life. I had all the money in the world, 35 lamborghini’s and ferrari’s, 20,000 square foot mansion, 12 homes, 3,000 housing units, and could eat anything I want, travel wherever I wanted to go, and felt I was dead. Then shit hit the fan and the 2008 financial crisis happened where I lost all my assets and $100 million dollars. I did not lose it due to mismanagement but rather was a victim of corporate greed from the big banks. Long story short, I had to restart my life again. At 44 years old, what can I do. I had a hangover type attitude and feeling with real estate. So that is when I became a loan officer. Whatever you do, do it to the best of your ability. Do not work for money. Have money work for you. You work hard, give it all your might, and accomplish or come close to accomplishing your goal, you will be rewarded with money. Money is your REPORT CARD. There’s more I want to cover but I can see the future for you guys. You ladies will succeed and prevail. I am a goal getter and my goal is to give all loyal hard working VAs U.S. dollar and not treat them any different than where they live. I told my goal to Marga from day one. Money does not give you wealth. Money comes and goes. Its the people who you trust, love, and can depend on and of course you need to give the same back is what WEALTH is. So, my question is, what is your goal? What if you worked very hard where you achieved your goal at work and got a great report card. What would you do? Will that change your life? Would you want to go back to school, become a doctor, open up a business, have more kids, get more dogs?
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@Bill Burg Burger King 🤴 🍔 🍔 🍔 🍔 🍔 🍔 🍔 🍔 🍔 🍔 🍔 told me that it was a 30 hour plane ride, and the Whopper King with No Meat said he only spent seven dollars a day. Maybe the Burger 🍔 meant 7 PESOS. I think he got sick there which is typical of the HAMBURGER 🍔 because he always gets sick. I want to find out how his trip to the Philippines 🇵🇭 was and the people he met. Ask Ann and Anna. Billy King 🤴 talks alot so he probably told them everything. I know he was homesick and wanted to get out of there. I think he bought plane tickets 🎟 for a whole family of Filipinos and Filipinas including their in-laws, cousins, step-siblings, neighbors, and they all got caught by TSA, IMMIGRATION PATROL, and the HAMBURGER POLICE