New Expat’s arriving in the Philippines never listen to old expat’s experiences to avoid pitfalls.

When I first arrived in Cebu there were very few people I knew under 60 over the last year though the majority of people I spend time with max out at around 45. There are a few other friends in the older age group but generally we don’t meet in person. But in discussions often things come up about new arrivals. I’m not sure if age actually relates to the issue though as some of my younger friends have had a few bad experiences but nothing like the experiences of their older counter parts. Is it because people like me are more thrifty though? I have had my fingers burnt in three years would estimate around P500,000 but at the same time I have stabilized an income as well as a business that is growing. Still making mistakes but still learning. But most of what I have done is trial and error because more often than not people will say “you can’t make money at ….” when in reality its the profit margin that is relevant but only if your doing a single venture. Truth is like Pigs most people would say not to invest money in pigs but its how you invest it, where you fatten and where you sell that matter. Making profit is possible and often easier than other ventures. I think the reason a lot of people don’t listen is there is so much negative talk its hard to filter the possible from impossible. Family issues seem to be top of the list of something that happens to everyone in some way or another. Financial loss in business by trust or theft (or both) happen as well but I also look at the fact many of the ventures are setup by retired people who really don’t want too involved. They do it for the wives family and then it falls apart, truth be known the issues are down to not organising it yourself and making sure its run correctly. The other thing is bad habits are hard to change, you teach one way and as soon as you turn your back people go back to doing it the way they want to. That causes money to be wasted because the methods generally seem time consuming or financially wasting. Not always but then again I would much rather people approached me with how to rather than just ignore what I have spent 10 minutes telling them.

Buying a house is also a major thing people invest in here. But I cannot understand why people pay cash. If your going to do that you might as well shove the money into investments and stick the house on monthly payments. You get your house for free and a chance to actually keep your money and house. At the same time stopping one of the highest risks here people seem paranoid about which is losing the house to a partner. If its on a mortgage what is there to inherit a debt?

List goes on and on… but why don’t people listen? why is it that everyone thinks they know best. I don’t have all the answers which is why I’m continuously looking for change and improvements. I have to increase my finances by at least P1million this year and this is the difference I have to a lot of people I rely on my money here. Yes I can fly to the UK but for what? back to a life of working for the bank and tax man? no thank you.. I need it to work here.