............that the GBP/PHP rate has topped 67 As I type this it just reached the dizzy height 67.01 (interbank rate) Now c'mon pound punch yer weight
You sound like me when I used to get paid in US dollars. Except the other way round. For a while I had a pay rise every month, just through the exchange rate changes in my favour.
It's like this John, my disposable income has decreased somewhat recently. The cost of living here in UK has increased and the cost of education in the Philippines has significantly increased. I'm sponsoring a few too many for their education and I need to send more funds very soon so I'm keeping a watchful eye on the exchange rates. A couple of years ago I (we) decided only to sponsor those who displayed a certain level of motivation and 'talent'. We're actually very proud of the progress and outstanding achievements of those we take care of and we really must do all we can to support them. Every little helps as they say
How much does it cost to sponsor a child? Probably not as expensive as one might think, but nevertheless still expensive?
Ah, how long is a piece of string These days we only help 'family members' (although sometimes convoluted connections) and the costs really depend on the type and quality of the school,the age of the person and whether we need to also find accommodations. We're currently seeing costs that range from P10k -P100k per year. On top of that there's usually other stuff but not so expensive. We current have a niece in college education at Ateneo Davao and that's just over P90k for a year of tuition. Sounds a lot but actually it's a darn good education. Universtity of Mindanao is just over P35k for a year with most other college's at between P20k-P35k For the regular private high schools there are plenty of good ones around with annual costs of around P10k - P25k for the tuition. It's really when you start to up all all the 'extra costs' on top it's really easy to see why many folks find it so very hard to afford a good education for their kids. Most of my extended family struggle that's for sure. So yes it's expensive relative to the local salaries, but not out of reach for most OFW's and from a western perspective.
I know, I've been watching it like a hawk!!! When I send my wife money for our visa I think I will send it mid week as I have noticed I get better deals then..
My two kids cost 65000 peso total so far since July this year for what is essentially primary school and pre-school that does not account for the other 2000 peso a month transport costs on our local service Trike (Janna goes early mornings and James's school is later on in the day) there are loads of other things like school trips that cost extra and there is something this week that requires traditional costume that has hit me with an extra 2500 peso bill in a month that was already difficult, 40 quid is not always easy to find out of the blue It's getting expensive over there.
The Ateneo is a good school or so I thought until I saw their curriculum for an English degree. During the first two semesters there are some 40+ units to be completed but only two are for English. In the second and third years, just under half of the units are in any way related to English and it's only marginally better for the fourth year. The actual course name is "English Literature" but (un)surprisingly they don't actually study any literary works! But they do have 2 units of science, 4 units of religious study and several of Philippine history (I wonder if they tell the students that the Philippines was, for a brief period of about 8 years, a British colony!)
Okay. Not soooo expensive but enough to make a difference, especially if there are more than 1. I can see why you watch the exchange rate as the pounds can soon be whittled back.
Amazing. We know someone who studied English at University of the Philippines Dilman and I suspect the curriculum there is more in keeping with western universities.
Yes, the exchange rate,an emerald topic among all expats. Also the Euro is down similar, the US $ remained relatively constant though. My own opinion is, that the Euro ( and the UKL gets dragged with it naturally) will even go down more to a US $ level. We all remember, when the Euro was decided decades ago, the changed and fixed all European exchange rates (on paper first) on a level equivalent to the US $ ( 1:1 ) for ALL EC countries, and that was way before the actual Euro currency debate. Even member states which did decided NOT to adapt the physical Euro much later, had their exchange rates "fixed" (Not sure if the UKL was also fixed then, i think they did not) However, the conclusion is, that they decided back then to affix a 1:1 position in regard to the US. They had to choose some rate. Which i conclude in an assumptive manner ( right or wrong,i got no clue or proof ) is their DESIRED and Ideal rate. Now the Euro ( The UKL suffered or benefitted with it ) in it's last 15 years went way down , (0.80?) , and way up (1.60?) in exchange to a US $. I think they like to have it at 1:1, so for us that means, we have to probably live with a Euro/PhP rate around 41-43php and a UKL rate of about 52 or similar ( I am too lazy now to calculate the equivalent in regards to the Euro rate.) And worse, if the US$ will go down in regard to the PhP, the Euro/UKL will go down with it. All in all something to observe for people thinking and planning for the future and an eventual move to the Philippines with UK income. Work with the lowest figures possible, because right now we are (still) in peak Time. To hope it goes back up "there" might be fatal for your existence. And if not (meaning i am all wrong), happy days and nothing lost.
Yes indeed, something I have wondered about myself. Somebody I spoke to the other week seemed to relate this to the theory of Burgernomics.
I googled the word "burgernomics" and found this: http://www.economist.com/node/21524811 :vhappy: Personally i always used the "Beerprice" economic scale.
Yes I always used beer inflation as an economic measure too, on that basis the UK and the Phils are almost on a par now, I can buy in most supermarkets a beer like Coors light for 96 peso a litre (exchange rate adjusted), I think it's about 90 peso a litre for San Mig Light. Is it still about 650 peso for a crate of 24? If so my sums are accurate. (these are special offer prices in the UK but there are always special offer prices now)
