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A Guide for Filipino Expats in Ireland to Manage Living on a Budget

23 Apr 2024

As a Filipino expatriate, Ireland is one of the countries in which you would prefer to work. The robust economy of Ireland, with a nominal GDP of $533.14 billion and a GDP Per Capita income of $103,983.3, helps Filipino workers find jobs easily. They send money online to Philippines from Ireland to offer financial support back home.     

But do you know where most Filipino migrants fail to optimally capitalize on the opportunity of working abroad?     

Well, it is necessary to understand budgeting, its purposes, the benefits of living on a budget, and how to create an effective budget.       

This blog will shed light on all the critically important aspects of budgeting listed above to help you maximize the benefits of living and earning in a foreign country. 

What is the Primary Purpose of a Budget, and Why is it Important?   

If you travel to a foreign country like Ireland and start earning big, will you be able to achieve your financial objectives?    

The impulsive answer to this question is in the affirmative. But it is not! Not, at least, in the absence of a budget, if nothing else.    

Therefore, the primary purpose of a budget is to help achieve your financial objectives and goals in ways addressed at ample length in the next sections.   

So important is a budget that someone with limited means can achieve bigger financial goals if they live on a budget than one with higher incomes yet smaller financial objectives! Why?

Because it keeps you focused, budgeting makes you shun the habit of impulsive buying, a temptation that is fairly hard to resist when in a foreign country. Living on a budget also includes your every money transfer from Ireland to Philippines because it pushes you to find a service provider. Given the recurring process, their services must align with your financial needs.

Top Benefits of Living on a Budget     

Although you might find creating a budget somewhat hard and living on it even harder, when you look at the following benefits, you will do it proactively because it is one of the few techniques that will help you financially in different ways.  

Guard Against Impulsive Buying   

Let’s face it.  

When you go to a foreign country and realize no one checks what you earn and how much you spend, you are exposed to impulsive buying. You spend money on things you simply do not need. A budget helps you from falling victim to impulsive buying.     

Understand the Difference Between Needs and Wants

Another benefit of living on a budget is that it helps you differentiate between needs and wants. Many people need help understanding the difference and spend on things that can best be described as wants. Remember that wants are infinite, whereas needs are few.   

Increased Savings   

Another benefit of living on a budget is that it helps you ensure more savings. When you are aligned with the budget that you have created, you automatically avoid overspending, which naturally leads to more savings.       

Achieve Financial Goals Faster                      

No matter how much you earn as a Filipino migrant living in Ireland and regardless of the quantum of funds you transfer each time you send money to Philippines from Ireland, just remember that the budget helps you achieve your financial goals. 

You travel to a foreign country to find work. Right? Is it just to earn money during your stay, or do you also have some financial objectives to achieve?        

Therefore, living on a budget alone helps you achieve your financial goals quickly.

Top Tips to Create an Effective Budget     

Oh… Do not just worry!     

You might have been told that creating a budget is a technical process requiring the insights of an expert. Right? But after reading the following few simple tips, your perception will change totally – to the positive and better.  

Calculate Your Income

A budget is based on, well… your money. Right? Therefore, calculating your income is the first tip to create an effective budget. But remember that you need to take a realistic look at what you earn around creating a budget instead of speculating what your income will be in the future – near or distant.    

Determine Your Fixed and Variable Expenses

Where your income is usually fixed, particularly when you have a job, your expenses are not. Your expenses are divided between fixed and variable. Drawing lines between the two is essential for creating a budget.       

These expenses are generally divided as follows:

Fixed Expenses

Your fixed expenses mostly include the following:

·       Rent and mortgage payments

·       Car and loan payments

·       Insurance

·       Phone and internet bill

·       Childcare

Variable Expenses

Your variable expenses mostly include the following:

·       Grocery and dining out

·       Entertainment

·       Gas

·       Parking

·       Personal care, clothing, and hobbies   

This is one of the critically important tips for creating an effective budget and saving money as an expatriate abroad.

Track and Record Your Income and Expenses

Another tip is to track your income and expenses regularly. It means to record every penny you earn and spend. You can do it manually or through several digital tools. But always remember to go back to what you have recorded at the end of every day, week, or whatever time suits you.

Determine Your Non-Negotiables

Setting your non-negotiable expenses apart from the negotiable expenses is another important tip for creating a budget. List your expenses and then see what expenses you can stop incurring and cannot.    

Slash Expenses Where Necessary

Regularly monitoring your income and expenses helps you slash expenses where a cut is needed. This step comes after you have determined your expenses of different types, which have been explained sufficiently above.

Set Financial Goals and Stay Focused

The next step is to set financial goals, which have been described above, already. Remember that setting financial goals is easy, but the bigger challenge is to stay focused on those goals, which is where a budget helps you go a long way.

Review Your Budget Regularly

Remember that once you make a budget, you need to keep tweaking it regularly. Or if you find reviewing it regularly difficult, you must do it the moment you realize that you splurged more than required on clothing or entertainment, and so on.  

Choosing Your Service Provider is an Equally Important Step

Managing to live within your means and on a budget is directly dependent on how you choose to online money transfer from Ireland to Philippines.  

The process is recurring, and you incur costs each time you send funds across borders. Right? Therefore, choosing ACE Money Transfer is the best bet in this regard, given that the firm offers you live and market-competitive currency exchange rates in exchange for a low fee. Both of these features offer you financial space and solace in case you spend money transferring funds. In addition, swift and safe delivery of funds in over 100 countries worldwide with 24/7 service access and availability from one window are features you cannot miss!


What is Budgeting?

Budgeting is taking stock of your income and expenses in real-time and creating a financial plan to streamline your income and expenses. Budgeting is based on what you earn and spend in the present and not what you speculate in the future financially.   

Why is budgeting important?

Budgeting is important because it helps you plug holes in your way of spending money. It also helps you spend your hard-earned money wisely only when and where needed. Budget helps you save more to secure your future financially.  

What are the primary benefits of living on a budget?

Living on a budget offers several benefits. Some of the primary benefits of living on a budget include avoiding impulsive buying, knowing the difference between needs and wants, increased savings, and achieving financial goals faster. 

What are the tips to create an effective budget?

A few simple tips for creating an effective budget include calculating your income, separating variable expenses from fixed expenses and tracking and recording your income and expenses. It also includes slashing expenses, reviewing your budget regularly, setting financial goals, staying focused, and determining non-negotiable expenses. 

What happens if I do not live on a budget?

Not living on a budget can make achieving financial goals difficult, causing a lack of savings, less financial control and independence, increased impulsive buying, increased debt and loans, difficulty attending to unexpected expenses, low financial satisfaction, and increased stress. 


·      Ireland GDP

(GDP (current US$) - Ireland | Data (

·      Ireland's GDP Per Capita

(GDP per capita (current US$) - Ireland | Data (

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