Living with 15k a month in Philippines

Living on a 15k month salary: Still possible in 2024?

Year 2024, where inflation hit so hard and the cost of living skyrocketed!But a 15,000 monthly are still possible in Metro Manila? Firstly, it depends, second, it is really really hard! and lastly, you are barely surviving!

in Philippine labour, unemployment is so high and underemployment is so rampant that competition is really tight. One of example is as a developer with starting salary of <insert salary>, sounds good but competition is so high that a single job listing, there’s hundreds of applicants just to grab that position. And wait! some applicants are trying to be a lowball that they accept the offer even the salary is so low that is so hard to compete.

To answer your question, living on a 15k a month is really hard because you can barely survive with this salary. But why? the main reason is inflation. The cost of living is higher than 5yrs ago, I remember when my first salary was 15k a month and I can barely survive on that time, that was like 7yrs ago, now imagine this year 2024? Now we will do that math or example:

Are you single? – If you are single, then it is quite possible to live with 15k a month salary, here is the breakdown of the cost, this is not accurate because every person has different needs, I’ll just show you the cheapest and smallest possible to live. Groceries will cost like 4,000 a month. Foods will cost like 3,000 a month. Rentals are like 3,000, and this are like dormitory/shared space. Transportation is like 2,000 a month, mostly jeepneys/MRT/LRT. Now you have 3,000 left? I believe the last will be utilities like electric and water, that would be 2,000 a month. Now the php1,000 will be your savings. See its like barely living and I believe it’s so hard to live with a 15k a month.

Now, what if you have a family 3?  – This is next to impossible! unless you are very good in budgeting. I would say php50,000 a month is still low with a family of 3. Groceries are Php25,000 a month (including foods). Because of expensive gas, transportation is like Php 8,000 a month. Utilities are like Php 5,000+ (4,000 Electric, 1699 internet, 200 water and more). Rentals are like 8,000, now you’re remaining is Php5,000 for a php50,000 income.

This is just average and every person and family have a different needs.

So, it still possible to live with 15k a month?

Yes! it is possible, I knew a lot that can live with a 15k a month and they still have a family! They just need to seriously budget their expenses and need to cutdown the expenses a lot!

In conclusion, living with 15k a month in 2024 is still possible if you know how to manage your finances wisely. Prioritizing your basic needs, being mindful of your transportation expenses, creating a budget, taking on a side hustle, and avoiding unnecessary debt can help you stretch your budget and live comfortably. With discipline and perseverance, you can thrive and enjoy life even with a limited budget.
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