How to Calculate Your Monthly Expenses in the USA

When you work in the USA, you will earn dollars. But you will also spend those dollars for your needs and expenses. Before you move, it helps to research and plan for how much you’re going to spend monthly in the USA.

I looked at several websites and read some blogs about monthly expenses in the USA. I found some resources that can help you calculate your monthly expenses.

Monthly Expense Calculator

I found the budget calculator provided by EPI to be helpful in my planning. If you already know where you will rent an apartment or house, enter the zip code, choose the city or locality, and it will generate a list of expenses: http://www.epi.org/resources/budget/

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If you’re an OFW in the USA, You CAN’T Invest in Mutual Funds in the Philippines

For the longest time, even before coming to the USA, I wanted to invest in Mutual Funds. I know that it is a better financial product than most banks’ savings accounts. We have spent more than 2 years in the USA and felt confident that it is time we spent some money to invest long-term. We had some amounts saved up.

I did my research, I read blogs, and checked some of the Filipino Financial groups on Facebook, and talked with my wife about it. My wife used to be a production staff of ABS-CBN News Channel’s “On The Money.”

I had a trip to Manila in October 2017 and we agreed that I will open a mutual fund investment account. I set my eyes on the Philippine Equity Fund. It was marketed as an aggressive, long-term investment fund. We did not want to withdraw the funds in the next few years anyway, so we thought we were in it for the long term.

So I checked out the requirements for opening a mutual funds account; downloaded the forms, checked what other documents I needed to present, and planned to go to a BPI branch to submit my application.

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Please Don’t Keep Up with the Joneses

You are going to the USA, that’s something to be proud of. There are many hurdles along the way, but if you got a job and a visa, it will definitely change your life. How that change will affect you and your family will depend on the many choices you will make.

This is a new, exciting chapter in your life. You are about to embark on a new journey, meet new people, explore a new continent, and do work that you love. While it’s never easy to say goodbye to friends and family, the truth is, your relationship with them will also change. Continue reading