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DonavenJaxxRepostReddit15
Sep 30

Is my budget right?

I've put together a budget for moving to the Philippines, around BGC. I'm a single man, 40-49 years old. I plan to use the military visa. I'm not planning to bring household goods.

Are these costs realistic? Am I missing anything?

Monthly budget

Housing & utilities ($1,750)
BGC rent (2 bedrooms + maid's room): $1,500
Utilities (electricity & water): $200
High-speed fiber internet: $50

Household & groceries ($900)
Food & groceries (for two): $550
Live-in maid salary: $350

Healthcare & insurance ($100)
Local expat HMO: $100

Leisure & transport ($200)
Leisure & transport: $200

Monthly total
Total monthly expenses: $2,950

One-time moving budget

Visa & documents ($4,900)
SRRV bank deposit (refundable): $3,000
SRRV application fee: $1,400
Apostilles & courier fees: $500

Move-in & setup ($7,000)
Security deposit (refundable): $3,000
Advance rent (months 1 & 2): $3,000
Bedding and household setup: $1,000

Flights & temporary lodging ($1,800)
One-way flight: $800
Temporary hotel (first 14 days): $1,000

Total upfront costs: $13,700

1
Reactions30 of 96 original comments
2BR and visa overkillTake it slowGet more insuranceMissing costsJust showing off?The maid debateRealistic budget
2BR and visa overkill
AnUpsetApe6

Why get a two-bedroom as a single guy? Get a one-bedroom or studio and cut your rent by $1k. In BGC I ate out every meal, didn't cut costs much, and spent under $2k a month. Most condos come furnished, so setup is basically just toiletries. Also, $5k for a visa sounds absurd. Just do a tourist visa. Way less work, and you can still stay up to 3 years without any SRRV deposits.

Take it slow
Vineyard21099

I'm assuming you've been there before and done some legwork on the ground, on neighborhoods and costs. If you haven't, bank your money, get a hotel, look for an Airbnb and then check out housing. Go slow..

Get more insurance
That-Syllabub65093

Nothing too weird here, but I think $100 a month for health insurance is cutting it thin at your age. Local HMOs cover maybe 250-350k a year at most, which means you're in serious trouble if you get something serious that needs specialists or going abroad. Does military mean you have extra insurance you didn't list here? If so it's fine, otherwise rethink it to about $4,500-5,000 a year.

Missing costs
Next_life_stage7

You're missing a few things - shopping (household stuff, electronics, etc.), entertainment, travel, and uncovered medical costs (dental, things you shouldn't claim on insurance, etc.)

Just showing off?
trends16steve2

Seems more like showing off than asking for budget help. If you're ex-military you're not rich, so plan to spend much less than you can afford. I've seen guys with average incomes raise their spending to match their income and end up completely broke.

The maid debate
WholeUmpire24631

Lol bro, just clean your own place. It's a two-bedroom. I've got a jacked-up back and a jacked-up neck from a mortar round... and I can still clean

Realistic budget
Chris_Reddit_PHX3

At first glance your budget looks realistic to me, with actually quite a bit of comfort margin. I assume you've set aside an emergency fund for things like major health events, family situations that require you to travel home, and other surprises.

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