Are You Rich In The Philippines?
You Can Live On a $1000 a Month in the Philippines
What does it mean when people say you can live on $1000.00 US per month if you live like a filipino? This is more than just a video about income brackets. We are going to report what filipinos actually spend their money on for rent, food, medical, etc..
By the end of this you will have an understanding of what’s possible based on your own situation.
The data is from The Philippines Statistics Authority and most recent data is from 2021.I’ve converted all to US dollars (Using 56 pesos/dollar) so I don’t get confused.
Here is a fabulous article (written by Alyssa Divina) that inspired this video digido.ph
Middle Income families make up the almost 50% of the population; however, BPO jobs that created the rise in incomes are now paying less amid the fierce competition for jobs. This is effectively lowering the income of a substantial percentage of families. Many are now exploring online work as an alternative to the call centers
We can see that just over $1100 US puts us in upper middle income. Looking at data below we can see what living like a Filipino actually means. As we explore what filipinos spend money on, we will begin to see the many options we have available to fashion a lifestyle that best fits us.
This data confuses me in several ways and leaves a great deal to interpretation; however, spending some time thinking about it is a useful exercise. In the US we hear that our rent/mortgage should be about 28% of gross income. This is in stark difference to the numbers here.
There are many ways to construct our budget in the Philippines to fashion an extraordinary lifestyle. Watch the video above for more detail.