Budgeting is challenging, especially when our cash is limited and the inflation is so high. oftentimes, we find it tough to make ends meet with the little salary we have but a big family to support with. Sometimes we would just scratch our heads upon receiving our salary at the end of the month because it will eventually fade like bubbles in the air. Bills are waiting at home, tuition fees for siblings, and of course, the monthly allowance for daily necessities.
This inflation rate is truly worrying since the pandemic started and the war between the two powerful countries just added fuel to the fire and made the inflation rate even higher, yet, the salary is not even increasing. And us with a limited amount of money? We're just finding ways to budget everything wisely and look for side hustles like blogging to at least, support the daily needs so that our salary could just be saved for monthly bills, tuition fees, unexpected emergencies, and rainy days.
The low salary in my home country was the main reason why I ventured abroad. Because even if I work 24/7, it wouldn't be enough to support all our needs. Some would set a budget of $100 monthly for food and other needs. But that is only enough for families with 2 or 3 members. We are a big family, and even the Php30,000 ($570+) salary in my country isn't enough to suffice all the needs monthly.
The $100 budget was not even enough for me, back when I was still working in the Philippines and I also set the same amount here abroad so that I can save my salary for my savings and family.
Monthly budget in the Philippines
For my family :
Php30,000 ($572) for food, bills, student allowance, transportation allowance, car fuel, and the remaining for miscellaneous and unexpected expenses.
For myself:
Php5,000-6,000 ($100-120)
Boarding house - $20
Transportation allowance - $20 ($0.66/day)
Food allowance - $60
Lady's necessities and others - $20
Monthly Budget Abroad: up to HK$1000 (US$127.39)
Holiday allowance - HK$400 (HK$100 per holiday, but if there are other special holidays in a certain month, the monthly allowance would increase depending on the number of holidays per month.)
Monthly mobile data - HK$100
Transportation allowance - HK$100
Personal needs (toiletries and others) - HK$200
Food allowance (in case I want to buy fruits or cook for myself) - HK$200
Every holiday, my food usually cost HK$40 to HK$50 (US5.10 to US$6.37) and that is twice per day for lunch and dinner. The remaining amount from my holiday allowance would be saved for the next holiday or buying other stuff.
Since my daily food is covered by my boss except for holidays, I seldom cook for myself but I like buying fruits for myself every week. The budget also depends on the prices of the products. Oftentimes, I would go to the supermarkets that have cheaper prices. I also prefer buying products on sale or the buy 1 take 1 and whatsoever where I could save more. For buying vegetables, fruits, and other fresh food, a wet market is a better place to shop, as there is a lot of variety of products to choose from, and I could even bargain for a lower price if the seller is a friend.
For example here in Kowloon City Hong Kong. Some products from Hong Kong farms are more expensive than those imported from mainland China. Those who like fresh ones would definitely buy meats and vegetables from Hong Kong farms. These two shops below are selling products from Hong Kong farms so prices are quite expensive compared to other shops.
(Inside Kowloon city wet market)(Inside Kowloon city wet market)
Meanwhile, these shops are selling products imported from mainland China and other countries so prices are cheaper and practical buyers always prefer to shop in these shops. And those who are not into expensive food would prefer frozen foods as they are cheaper as well.
(Outside Kowloon city wet market)(Outside Kowloon city wet market)
These were the foods I bought yesterday which cost US$26.36, good for 2 to 3 days.
Pork - HK$150 (US$19.11)
Spinach - HK$26 (US$3.31)
Beans - HK$15 (US$1.91)
Banana -HK$15.90 (US$2.03)
TOTAL: HK$206.90 (US$26.36)
So my HK$200 food allowance would definitely not be enough if I will buy food daily. Luckily, my daily food here abroad is covered by my boss and I seldom buy some when I want to cook Filipino food or craving for something different from my usual Chinese food.
And here in Hong Kong, prices depend on the location of the stores. The country is divided into three districts, Hong Kong Island, Kowloon, and New Territories. Products sold in cities in Hong Kong Island are more expensive, followed by Kowloon, then the cheaper ones in New Territories. This district is the countryside of HK and food like seafood are cheaper here since most fisherman villages are located in this district. Oftentimes, people would travel to places with cheaper products to do marketing since transportation is also convenient here just to save more.
The unexpected events also affects the prices of the commodities, such as the pandemic, war, and even conflicts between the Hong Kong government and its citizen. Most of the commodities here are imported abroad and from mainland China so any unfortunate circumstances would definitely affect the prices. And the fact that Hong Kong is a rich country, expect the sudden rise in prices of the commodities.
So if I have a US$1000 budget monthly, then I could probably buy all my needs, including wants, and could send more allowance to my family abroad. Oftentimes, we would deprive ourselves of buying some of our needs including wants just because we are saving for more important things. But there's nothing wrong with treating ourselves right? Especially if we are working so hard throughout the month.
You probably wonder why I suddenly write about my budgeting, well, this is a challenge on Leofinance and I was inspired by Farmgirl's recent post to participate in this challenge 😅. If you are on Leofinance and want to participate, you can check this link, click here.
You are really spending much on needs and wants and the same goes for many people. The truth is we aren´t happy with the current situation as it is, but we do not have a choice but to keep working, having different streams of income to meet our basic needs.
Budgeting is a bit technical especially if you're working with a small income vs a lot of needs but I guess it gets easier with experience, you just have to figure out which is more important amongst your needs and take care of them first, then if your needs are fully satisfied you can move down to your wants
The real face of OFW, some people think working abroad is totally fine and comfortable yet not knowing it has a lot of challenges too, one of it is personal expenses are cheaper than the family from home hehe. Still, I knew the difference between reality and others' expectations. I also want to apply overseas soon hehe.
Practically speaking, budgeting is indeed challenging,specially if you had a lot of expenses and yet your salary isn't as big as your responsibility 😁. no matter how much you tried to do a smart budgeting, what you have would never be enough as the price of the products in the market keeps on increasing and yet your salary was stock. However some people who aren't at your shoe are even thinking that you're not struggling with this matter as you were working abroad and earning dollars, they don't know that at some point you also face crisis 😂. When I am still there, I also look for a wet market where I can bought cheaper foods so I can still save money. Anyway, it was definitely okay to treat yourself for some time as your working so hard for it and you also deserves some treats.
And honestly even here in the Philippines the $100 dollars per month is honestly not enough as even some of the bills had also increased it's priced and so struggle in budgeting are indeed real. 😅.
Jusmi. Kulang na kulang tlga kht sakin mag isa lang. Dto naman kala nla mapera ako kc travel ng travel 🤣. Alam mo na man na madali mkapunta sa tourist spots kc lalapit lang. Mura lng pamasahe. Hirap kya buhay dto
Kaya nga and they don't know na mura yung pamasahi jan, lalo na yung tram. As far as I remember yan yata yung pinakamura jan. Ako kaya di ako nakakapag travel kc sa isla kami nakatira yung pamasahi sa ferry going to central ang mahal😂😂 pag na tyempohan $100 dollars ko pang ferry Lang 🤣🤣🤣kaya stock up ako sa bahay nila amo😂
Peng Chau island, dalawa yung ferry na bumabyahe papunta dun, yung isa special at yung isa ordinary, pag ordinary $15hkd ung pamasahi, pero pag weekend makakabili ka ng ticket for $25-$28 hkd ata un at balikan na. Maliit lang na isla un, pero madaming pinoy/pinay dun dahil mura ang boarding house.
Honestly wala, ung mga naghahike dun mga nakatira lang din malapit sa isla na un. Pero kung yung lang din naman ipupunta nyo dun, naku I suggest wag na, mabobored lang kayo kc yung bundok dun wla pang kalahati sa inakyat mo nung nakaraang holiday 🤣🤣 tsaka kung ung dagat naman mas maganda pa din yung beach sa Stanley 😂😂.
Sa lahat ng photos na meron jan sis yung the hidden beach lang ang di ko napuntahan pero yung iba alam na alam ko mga un kc maliit lang ang peng chau mga dinadaanan ko mostly mga un, and hindi ko masasabing maganda siya sa personal hahaha pero baka masyadong mataas lang standard ko pagdating sa mga tourist spots kaya di ko mga type yung views sa Peng Chau😂😂
The common men are mostly affected by the price while the rich ones will just feel like it's okay and they won't even try to work things out for the common man because it doesn't affect them.
it turns out that in HK the price is also quite high, maybe your salary can cover your daily needs and it is also suitable for a city that has developed and has basic needs that are priced above.
I was glad when I came in here from your noise post that you were not referring to universal basic income. But yes, these times can be quite challenging, so all one can do is try to earn (like you said) what they can from other sources and be very creative about their spending.
I use investments to hedge against inflation, but I realize not everyone can do this.
The country am in before you receive the salary the salary has finished already because you have collected money sometimes way above you salary, the life here is just so hard that sometimes parents don't even make budgets anymore because the money won't be enough for any of their needs, imagine a family of six living in a single room and when you see food you eat and be grateful if not just forget about it
Kaya yong iba talaga napipilitan na mag abroad ano. No choice ee ang mahal na ng bilihin pero ang sweldo ganon pa rin. Lalo na mahirap mag budget kapag ganon aigooooo.
I don't even know how to keep tracks of my spendings and earnings anymore due to one reason- inflation. Inflation exists and there's no increase in income. My savings percentage has reduced drastically!
Kahit mag-isa ka nga lang, ang hirap pa rin mag budget. Ay sa ngayon Ate wala nang $20 na boarding dito sa Pinas. Sakin nga maliit lang pero $32 siya.