Is 35,000 Peso Monthly Offer Sufficient in Morelia, Mexico?

Hi, I received a 35,000 peso per month offer that is tax-free. Would this be enough to live comfortably and save up in Morelia, Mexico? To answer this question, let's delve into the financial and lifestyle aspects that come into play.

Cost of Living in Morelia, Mexico

Morelia, the capital city of Michoacán, is often considered one of the most livable cities in Mexico. According to Numbeo, the cost of living here is relatively low compared to other major cities in the country. Let's break down the expenses to see what your income can cover.

Current Lifestyle in Mexico

I live in Mexico on the west coast near Puerto Vallarta. On average, I spend about 30,000 MXN per month and I live “like a king!” I have two cars, a house with a pool, dine out two or three times a week, and still don't have to think much about occasional splurges. However, I choose to live more like a Mexican, so I seldom run the air conditioning and do all my shopping in local tiendas. I also take the bus when I travel as the cost of gasoline is way too high.

Living on 35,000 Peso Monthly

At an exchange rate of 20 pesos to the USD, 35,000 pesos is equivalent to about 1,750 USD. With this income, you would need to consider your lifestyle and financial goals. According to Numbeo, the cost of living in Morelia is relatively low compared to other cities in Mexico. Here's how your monthly income might break down:

Housing: Rent for a 2 bedroom home or apartment in a nice part of the city would cost around 500 USD (7,000 MXN). Transportation: Gas is very expensive, and even in a small car, you could spend about 2000 MXN (100 USD) per month. Food: Eating out or buying groceries would add another 1000-1500 MXN (50-75 USD) per month. Entertainment: Additional expenses like entertainment, utilities, and miscellaneous costs might add another 500-750 MXN (25-37.5 USD). Savings: After covering these essentials, you would have between 3,750-4,250 MXN (187.5-212.5 USD) left.

Tax-Free Offer

Your 35,000 peso per month offer is tax-free, which means you get to keep the entire amount. If this income is after tax deductions, you would still have around 32,000 pesos left, which is still a very good monthly income and sufficient to cover living expenses and save some money.

Comparison to Other Cities in Mexico

In Mexico City, the cost of living is significantly higher, with rent for a 2-bedroom apartment ranging from 7,000 to 10,000 pesos (350-500 USD) per month. Public transportation is convenient, and owning a car is not always an advantage due to traffic congestion. Potential expatriates should consider these factors and adjust their spending accordingly.

Expert Opinion

Siskia and Edilberto have provided expert opinions from their own experiences living in Mexico. They suggest that with 45,000 pesos, you could enjoy a comfortable middle-class existence, with around 38,000 pesos (1,900 USD) left over for food, transportation, entertainment, and savings.

Final Thoughts

Whether 35,000 pesos per month is sufficient to live comfortably and save in Morelia, Mexico, depends largely on your lifestyle and goals. If you live frugally and prioritize essential expenses, you can definitely save. However, if you prefer a luxurious lifestyle, you may need to seek additional sources of income.