Wednesday, June 24, 2009

Earnings - expenses = savings

For some time now, I have been 'evaluating' which of the places I've lived in offers the best deal when it comes to monthly savings. I base my evaluation on savings instead of earnings because the cost of living also differs from one place to another.
For the purpose of comparison, I will present everything in Japanese yen (JPY). Here are the rough estimates between different currencies for your reference:
1 Philippine peso (PHP) = 2 JPY
1 US dollar (USD) = 100 JPY
1 Taiwan dollar (TWD) = 3 JPY
The average monthly pay for college graduates (rough estimates) in
the Philippines is JPY 16,000
Taiwan is JPY 54,000
Japan is JPY 180,000
The price of a coke in can (350 ml) in
the Philippines is JPY 25 (0.16% of earnings)
Taiwan is JPY 45 (0.08% of earnings)
Japan is JPY 100 (0.06% of earnings)
The price of a Big Mac meal (at McDonald's) in
the Philippines is JPY 124 (0.78% of earnings)
Taiwan is JPY 315 (0.58% of earnings)
Japan is JPY 620 (0.34% of earnings)
Anyway, the list could go on and on...
It's clear from the figures, though, that by the end of the month, people can save more money if they work and live in Japan, as opposed to living in Taiwan, and much less (or almost nothing) if they live in the Philippines.
And that's where things stand right about now, and it says a lot about the country's economy.


Thunderthud said...

Would you stay there if you could?

Booyah! said...

I would if I get job that pays more than 300,000 yen per month :P