Cost of living in the Philippines is very low compared to Canada. The PHP to CAD exchange rate has slowly risen over the last six years so the Canadian dollar will not go as far as it did back in 2008 but with the very low living cost it will help you get more bang for your buck.
There are many factors that come to play when figuring a budget and comparison to the total cost of living in the Philippines. One of the major factors that one should always keep in mind is the health care. The Philippines health care cost are lower but in Canada many of the doctor and hospital trips are free.
What comes to mind every time I am hungry is the question: What is in the kitchen? Since we must eat, then you must also involve the food cost in your budget. Local food in the Philippines is at a lower cost but if you can’t withhold from buying imported products then it will surely raise your overall living costs. Then you can flush it down the toilet.
Hydro cost in the Philippines are also rising since there is an increase in demand and a lack of power plants but if you can use electricity wisely then it will not be a major factor to determine overall cost.
You will need a pension or some form of steady income before you think about living in the Philippines. Even though the Philippines has a laid back way of life, how you chose to live while you are in the Philippines is the biggest factor that will determine the overall cost comparison.