Money Issues for an Expat

[DianaLovesBsAs]

Hi!

So, I am not in Buenos Aires yet, but I will be pretty soon. My bf and I have an earning potential of about ARS$8k-$10k a month... We don't have to pay rent, but we do have to pay for groceries & utilities... I am very conservative with money, so inflation and government meddling in the financial sector, I am nervous that the money we make won't be enough to live.

My question... between the two of us, is making $8k-$10k livable?

 

[wreReynolds]

The vast majority of Argentines survive on far less - 10k pesos would be a pretty good salary for a middle manager. If you are not paying rent, you should live fairly well and have enough left over to travel around the region.

The one thing you have to watch is inflation. You didn´t say if your income is coming in western currencies or in pesos.

Inflation here is around 25%, but things are so dicey at the moment there is always a risk that inflation could spin out of control (as has happened several times in the past). If you have dollars (or euros) coming in you should be fine, but high inflation envrionments are never fun, having lived in places with rates around 40%, when it really starts to get silly.

Cheers, RR

 

[DianaLovesBsAs]

No, my money would be earned in pesos, but i'd save in dollars.

 

[Crema Americana]

The average salary here is much less than that, so it's definitely "livable"... now what kind of life is the question.

Not having to pay rent helps greatly. You will most likely be able to live comfortably, though not in luxury.

Saving in dollars may be a challenge if you're not approved by AFIP to exchange dollars.

 

[YanquiGallego]

When you say that you are conservative with money, I am assuming that you also are frugal and a good money manager, if this is the case, I am sure you will be more than fine, aside from perhaps some frustrations with the inflation and disproportionate prices, you should be ok--At this time. Things could change from one month to the next.

I know many Porteños and even ex pats living on 10,000 pesos or less per month, they ARE paying rents, and they are doing fine, not Puerto Madero fine mind you, but decent Argentine middle class lives, of course they are playing the typical porteño game of ¨pagar en cuotas¨ for everything over 100 pesos it seems. (Today I was asked at Coto on a 137 peso tab in how many cuotas I wanted it)

In my personal case, I am by no means cheap, but do have the equivalent of a nervous breakdown when I see some prices, Twinings tea (the nicer packs that come in a tin) are 199 pesos, Pepperidge Farm cookies 80 pesos, frozen pizza 40 pesos, I can go on.
I have just learned to go without those things while in BA, load up in the States, and/or find less expensive alternatives. On the other hand, here if you know the city well, you are able to have some pretty good deals on menus ejecutivos or go out to eat at fine dining type places for a lot less than what it would be in the States or Europe.

 

[YanquiGallego]

Also, I am just curious, when you say ¨earning potential¨ is this based on a job you already have or are you coming down assuming you will find jobs and this is the salary range that your professions pay in BA?

 

[DianaLovesBsAs]

Also, I am just curious, when you say ¨earning potential¨ is this based on a job you already have or are you coming down assuming you will find jobs and this is the salary range that your professions pay in BA?

My bf is already over there and is currently making about $5k/M, essentially working 8 hours a week. No, there is no funny business going on. He is an english/spanish professor... so, i'd jump right in as well.

 

[DianaLovesBsAs]

When you say that you are conservative with money, I am assuming that you also are frugal and a good money manager, if this is the case, I am sure you will be more than fine, aside from perhaps some frustrations with the inflation and disproportionate prices, you should be ok--At this time. Things could change from one month to the next.

I know many Porteños and even ex pats living on 10,000 pesos or less per month, they ARE paying rents, and they are doing fine, not Puerto Madero fine mind you, but decent Argentine middle class lives, of course they are playing the typical porteño game of ¨pagar en cuotas¨ for everything over 100 pesos it seems. (Today I was asked at Coto on a 137 peso tab in how many cuotas I wanted it)

In my personal case, I am by no means cheap, but do have the equivalent of a nervous breakdown when I see some prices, Twinings tea (the nicer packs that come in a tin) are 199 pesos, Pepperidge Farm cookies 80 pesos, frozen pizza 40 pesos, I can go on.
I have just learned to go without those things while in BA, load up in the States, and/or find less expensive alternatives. On the other hand, here if you know the city well, you are able to have some pretty good deals on menus ejecutivos or go out to eat at fine dining type places for a lot less than what it would be in the States or Europe.

I am not so good with money, but I'm not willing to pay $40 pesos on a frozen pizza when I can make pizza myself and save the difference. I'd live in Ramos Mejia, if that makes a difference.

 

[PhilipDT]

I'd live in Ramos Mejia, if that makes a difference.

You'll definitely save money on food and salidas, which will be handy for when you need to have your kevlar stitched back up now and then.

 

[KevinK]

one other question is that is your salary before or after taxes...if that is before taxes and you will be liable for taxes here beware...what you end up having to spend culd be far less