Comments on: How Big Is One Million Pesos? http://fitzvillafuerte.com/how-big-is-one-million-pesos.html Business, Investments and Personal Finance Wed, 08 Feb 2012 10:00:51 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Brian Gilbert http://fitzvillafuerte.com/how-big-is-one-million-pesos.html#comment-39324 Brian Gilbert Wed, 17 Aug 2011 06:42:51 +0000 http://fitzvillafuerte.com/?p=1749#comment-39324 1 million pesos is not really much. It'a about $23,557 dollars U.S. If you were to buy a brand new car like a Toyota or Mitsubishi, you will need more money. It's certainly not enough for a family. For a single guy, and young guy, that amount could be good to have a few things like a studio apartment but nothing else left. A studio apartment that is nice and has good amenities and is in a good neighborhood would probably cost a lot more. Reality check. 1 million pesos is really not a lot of money. Even $1,000,000 dollars is not much in todays standard especially in some parts of the U.S. like New York City or California where real estate prices are high. Half a million dollars would buy you only a small bungalow fixer-upper that needs some renovation. Then you have property taxes, gas / electric bills, telephone, cable, etc etc. It all adds up if you figure out the real cost of living. And that's not including personal expenses like medical, dental and eyecare. As well as food, transportation, vehicle insurance, vehicle costs if you are planning to also buy a car or truck, etc etc. Thats just for one person expense. if you have a family (wife and two kids) then you're in deep trouble if you think a million is enough. Especially if you are the only one working in the family and you have to pay for every expense including everyone's dental, medical, clothes, shoes, food, school supplies, school tuition, etc etc. Try to add each cost that you think you have to have to live including a telephone for communication or computer internet as well and you're talking a couple of million dollars at least needed. As it is, the majority of people just live from day to day and not even planning for the future. Everyone is in debt as well with little savings. That's life if you don't make enough money from working, then you need to get life insurance in order to make sure that your family has something if you suddenly died. 1 million pesos is not really much. It’a about $23,557 dollars U.S. If you were to buy a brand new car like a Toyota or Mitsubishi, you will need more money. It’s certainly not enough for a family. For a single guy, and young guy, that amount could be good to have a few things like a studio apartment but nothing else left. A studio apartment that is nice and has good amenities and is in a good neighborhood would probably cost a lot more. Reality check. 1 million pesos is really not a lot of money. Even $1,000,000 dollars is not much in todays standard especially in some parts of the U.S. like New York City or California where real estate prices are high. Half a million dollars would buy you only a small bungalow fixer-upper that needs some renovation. Then you have property taxes, gas / electric bills, telephone, cable, etc etc. It all adds up if you figure out the real cost of living. And that’s not including personal expenses like medical, dental and eyecare. As well as food, transportation, vehicle insurance, vehicle costs if you are planning to also buy a car or truck, etc etc. Thats just for one person expense. if you have a family (wife and two kids) then you’re in deep trouble if you think a million is enough. Especially if you are the only one working in the family and you have to pay for every expense including everyone’s dental, medical, clothes, shoes, food, school supplies, school tuition, etc etc. Try to add each cost that you think you have to have to live including a telephone for communication or computer internet as well and you’re talking a couple of million dollars at least needed. As it is, the majority of people just live from day to day and not even planning for the future. Everyone is in debt as well with little savings. That’s life if you don’t make enough money from working, then you need to get life insurance in order to make sure that your family has something if you suddenly died.

]]> By: Emman http://fitzvillafuerte.com/how-big-is-one-million-pesos.html#comment-32608 Emman Thu, 12 May 2011 19:36:51 +0000 http://fitzvillafuerte.com/?p=1749#comment-32608 I want to have that! Though 1M for now can be consumed in just a snap of my finger! I want to have that! Though 1M for now can be consumed in just a snap of my finger!

]]> By: starlight http://fitzvillafuerte.com/how-big-is-one-million-pesos.html#comment-31199 starlight Thu, 14 Apr 2011 05:47:19 +0000 http://fitzvillafuerte.com/?p=1749#comment-31199 Don't get excited with 1M. It's not so much! It's just the average cost of a brand new car. Look how many brand new cars are there on our streets. Don't even get excited with P10M. Why? the difference between P1M and P10M is only zero. When you get your first million, it's so easy to have the 2nd and 3rd and 4th and so on. It's just a psychological crossing line that when you cross upon it, you'll know that the next is very easy and fast. The real challenge for me is to double the net worth (NW) every 2 years up to P5M, then double the NW every 3 years up to P20M, double the NW every 5 years there after up to P150M. How's that? Oppps, don't react, it's my opinion! And do I think P200M is big? No! I can fit that in my wallet! It's just one check! Don’t get excited with 1M. It’s not so much! It’s just the average cost of a brand new car. Look how many brand new cars are there on our streets. Don’t even get excited with P10M. Why? the difference between P1M and P10M is only zero. When you get your first million, it’s so easy to have the 2nd and 3rd and 4th and so on. It’s just a psychological crossing line that when you cross upon it, you’ll know that the next is very easy and fast. The real challenge for me is to double the net worth (NW) every 2 years up to P5M, then double the NW every 3 years up to P20M, double the NW every 5 years there after up to P150M. How’s that?

Oppps, don’t react, it’s my opinion!

And do I think P200M is big? No! I can fit that in my wallet! It’s just one check!

]]> By: Home Based Job in the Philippines http://fitzvillafuerte.com/how-big-is-one-million-pesos.html#comment-27491 Home Based Job in the Philippines Mon, 31 Jan 2011 23:24:23 +0000 http://fitzvillafuerte.com/?p=1749#comment-27491 Grabe! I never thought kakasya siya sa isang styro foam.Every time kakain ako sa fast food, maiisip ko yung 1 million. Awesome post. Wish I can get my hands on one million soon. =) Grabe! I never thought kakasya siya sa isang styro foam.Every time kakain ako sa fast food, maiisip ko yung 1 million. Awesome post. Wish I can get my hands on one million soon. =)

]]> By: Real Estate Analysis http://fitzvillafuerte.com/how-big-is-one-million-pesos.html#comment-13457 Real Estate Analysis Thu, 09 Dec 2010 22:41:09 +0000 http://fitzvillafuerte.com/?p=1749#comment-13457 Hahaha, its is really something new to me too. Wow! 1M in just one small luchbox! I never thought of that! BTW, I wish you luck to have many more in 2011... Good luck :) Hahaha, its is really something new to me too. Wow! 1M in just one small luchbox! I never thought of that!
BTW, I wish you luck to have many more in 2011… Good luck :)

]]> By: Fitz http://fitzvillafuerte.com/how-big-is-one-million-pesos.html#comment-5016 Fitz Mon, 16 Aug 2010 19:47:48 +0000 http://fitzvillafuerte.com/?p=1749#comment-5016 Yes, Jonha, that's about right. :D Yes, Jonha, that’s about right. :D

]]> By: Jonha @ Happiness http://fitzvillafuerte.com/how-big-is-one-million-pesos.html#comment-5015 Jonha @ Happiness Mon, 16 Aug 2010 15:14:36 +0000 http://fitzvillafuerte.com/?p=1749#comment-5015 It's funny I actually calculated how much should I save per month in order for me to become a millionaire, literally (as in 1M) and if I save P29,000/month, in 3 years millionaire ka na! Tama ba? It’s funny I actually calculated how much should I save per month in order for me to become a millionaire, literally (as in 1M) and if I save P29,000/month, in 3 years millionaire ka na! Tama ba?

]]> By: paul http://fitzvillafuerte.com/how-big-is-one-million-pesos.html#comment-5014 paul Sun, 01 Aug 2010 10:26:32 +0000 http://fitzvillafuerte.com/?p=1749#comment-5014 I worked from a largest bank in the philippines, but not today since BDO and EPCI bank had merged. I'm not sure if that styro will fit P1,000,000.00 it's about 1000pcs. of a one thousand denomination or a 10 bundles of a thousand bills. It's not possible. But i'm pretty sure it will fit in your two pockets of your pants. Five hundred thousands respectively and tied up tightly with a rubber. I worked from a largest bank in the philippines, but not today since BDO and EPCI bank had merged. I’m not sure if that styro will fit P1,000,000.00 it’s about 1000pcs. of a one thousand denomination or a 10 bundles of a thousand bills. It’s not possible. But i’m pretty sure it will fit in your two pockets of your pants. Five hundred thousands respectively and tied up tightly with a rubber.

]]> By: Fitz http://fitzvillafuerte.com/how-big-is-one-million-pesos.html#comment-5013 Fitz Sat, 05 Jun 2010 19:45:29 +0000 http://fitzvillafuerte.com/?p=1749#comment-5013 @Tom From my personal observations, one can live a very comfortable life with moderate luxuries in Manila with P50,000 a month. @Tom
From my personal observations, one can live a very comfortable life with moderate luxuries in Manila with P50,000 a month.

]]> By: Tom http://fitzvillafuerte.com/how-big-is-one-million-pesos.html#comment-5012 Tom Sat, 05 Jun 2010 00:20:08 +0000 http://fitzvillafuerte.com/?p=1749#comment-5012 Hi fitz! I was thinking, when I lived in the Philippines, it seemed that even in the place where i lived (think province of Negros Oriental) ...that if a person has 1M peso, then it would immediately be consumed by their home! How much money do you think that they would need to actually live the Millionaire lifestyle? Also ... in Manila, to have a nice apartment in an upscale location is napaka mahal ... therefore, a millionaire in Manila with a nice home, can still be cash - poor, at least that's my perception! I have never lived in the Philippines as a Millionaire - just as the poorest of the foreigners lol ... I hope you - or someone else from your site can help me in my questions! maraming salamat po! Tom. Hi fitz!

I was thinking, when I lived in the Philippines, it seemed that even in the place where i lived (think province of Negros Oriental) …that if a person has 1M peso, then it would immediately be consumed by their home!

How much money do you think that they would need to actually live the Millionaire lifestyle?

Also … in Manila, to have a nice apartment in an upscale location is napaka mahal … therefore, a millionaire in Manila with a nice home, can still be cash – poor, at least that’s my perception!

I have never lived in the Philippines as a Millionaire – just as the poorest of the foreigners lol …

I hope you – or someone else from your site can help me in my questions!

maraming salamat po!

Tom.

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