A Cuban resident on the Island shared a controversial video on her TikTok account in which she claims it is possible to live for a week on just 500 Cuban pesos, as long as one knows how to manage the money.
"My love, you can confidently take 500 for a week if you know how to manage it. You're only going to see your family, so you're not going to splurge," said the user identified as @danay.jorjito1.
In the video, which has sparked multiple reactions on social media, the woman insists that the budget is sufficient if a person saves on food and avoids unnecessary expenses: “Of course it will. In the vast majority, you know how to manage your money to afford food or take your mom or your kids out, however it may be. It will be more than enough,” she stated.
"Because no matter how expensive life is, you’re not going to spend, I don’t know, 80,000 pesos in two days. You’re not going to do that," he added.
The video has generated mixed reactions among users. While some support the idea that it all depends on good management, others have harshly criticized the statements, pointing out that with 500 pesos, it barely covers basic needs like rice, oil, or eggs.
In the midst of a deep economic crisis, with uncontrolled inflation and the deterioration of Cubans' purchasing power, such comments reflect the contrasting opinions about the reality experienced on the Island.
The Cuban peso continues to lose value against the dollar, the euro, and the MLC, and prices in the informal market remain unaffordable for many citizens.
Frequently asked questions about the economic crisis in Cuba and the cost of living
Is it possible to live in Cuba for a week with 500 Cuban pesos?
No, living a week with 500 Cuban pesos is practically impossible due to the severe economic crisis the country is experiencing. Inflation and the high cost of basic goods make this amount insufficient to cover essential needs such as food. The claim that it can be achieved with good management has faced strong criticism on social media.
How much does food currently cost in Cuba?
The cost of food in Cuba is extremely high in relation to average salaries. One example is a video where a Cuban showed that he spent 5,000 Cuban pesos on a limited purchase of basic foods. This expense is a heavy burden for most Cubans, whose monthly state salary is around 3,000 pesos.
How does inflation affect Cubans in their daily lives?
Inflation in Cuba severely impacts the purchasing power of citizens, raising the prices of basic products and leaving many families in precarious situations. With salaries that do not exceed 10 dollars a month at informal exchange rates, Cubans face difficulties in purchasing food, medicine, and other essential goods.
What is the situation of Cuban retirees on the minimum pension?
Cuban retirees who receive the minimum pension live in very difficult conditions, as this pension barely suffices to cover basic needs. With 1,500 Cuban pesos a month, equivalent to about 4 dollars, many retirees must contend with inflation and the extremely high cost of living without support, forcing them to rely on family or seek external assistance.
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