So this is Dominican Republic Money, and when I use to go to DR and I had money left over I would just leave this money behind, I stopped doing that because I’m coming back. Right now the exchange rate is about for $1 Us dollar you get $53 Pesos, which means I have $2000 peso and in US dollars that would be $37.73.
The way my mind works, is when it comes to money I’m extremely calculated, I even calculate the things I didn’t calculate, its call my just incase money. So for this video, if all you have is $1000 a month and you want to live in DR, I’ll tell you what that gets you.
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1. Average Salary and Middle-Class Salary
-This is extremely important, a lot of people go to places not understand how much money is really worth somewhere else
-Its like someone going from living in Manhattan for $3000 apartment and then going to DR and not realizing that they can live off $3000 for 2-3 months no problem
-So to gauge how much you need to make I always use the People that already live there not that people that are going to move there
For example, in DR:
-You can get paid anywhere from $12-16k pesos per month and people that make above that usually make very good money
-So to put that Into perspective, that means that $1000 in dr is the like $53k pesos
Which means that’s 3.3 times more than those people
However: if you are an idiot, or if you can afford to live better, you might compare yourself to the rich guy living on a pent house apartment paying 2-4k a month you see
2. Being on Budget
Understand that you only really have 4 main expenses that are needed and 1 that’s needed but optional
First: Shelter - $16k pesos which is $301 per month
Second: utilities - gas, electricity, internet and phone bill lets say $150 a month
Third: Groceries - lets $200 a month
Forth: Transportation - gas let's say $200 month
Total: $851 meaning you still have money to save or to spend on health insurance which is super important
3. The Number One Difference in Cost is going to be This ( do you live with the Locals or with the Rich Locals or people that just want to spend more money )
-Remember there are Big Cost associated with a move like this
-For example you have to save up to Buy a Car, Tickets, and all the stuff in the beginnings
-So although the monthly living cost might be cheap, the actual move might cost 5-10k -depending
Ps. I would never move somewhere without having 3-6 months' worth of expenses just in case
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*Some of the links and other products that appear on this video are from companies in which Tommy Bryson will earn an affiliate commission or referral bonus. Tommy Bryson is part of an affiliate network and receives compensation for sending traffic to partner sites. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available. I'm an Accountant but I'm not your Accountant, always review information with your Accountant/CPA and your Financial Advisor.
7 авг 2024
