I am in the Philippines in a metro but not Manila like jerryo. For me, the cost levers are rent, health care, and transport. I like living here for various reasons and low cost is just a bonus.
My rent on my apartment is just $250/month for a 2 Bed / 2 Bath in a walkable area, the complex is almost all foreigners. My total fixed costs for rent, internet, extended cable, water (piped), water jugs (potable), electric, once-a-week-maid, getting all my laundry (full-service) done on the corner, gym membership (paid by the year): $450/month.
I find the private health system very accessible and it is great for routine health care -- not as good for complex health care. I accidentally gashed open my forehead just last night (!) around 11 PM and my head was profusely bleeding. I stopped the bleeding and simply drove straight to the best private hospital in my area. There were a bevy of nurses and a great doc waiting there to instantly serve me and they did a great job. I was home an hour and a half after my injury, all stitched up (literally). I have lots of good health care stories here for routine care like that, but when it comes to something complex, it can be a different story. For something real serious, I would go to the best hospitals in Manila, if possible. I am happy with my dentist. I have not yet a medical professional who is not fluent in English. I lived in Colombia before and always had to speak Spanish. I no longer have any health insurance.
Transport is very cheap, I use my own motor scooter. My long term transport costs including depreciation, licensing, maintenance, gas, insurance are only about $80 per month, an incredibly low figure when you include everything. I absolutely love to drive my moto.
I find eating at home somewhat more expensive here than in the USA but eating out is comparatively a lot cheaper. My favorite upscale restaurant here which serves awesome Filipino food is about $15 total cost for 2 (that would be beer only, no fancy drinks).
The things that cost more are trips back to the USA, electronic items, cars, imported stuff like contact lenses, specialty foods, any specialty items that you would have to order online in the USA. I simply get electronics and glass/contact-lenses and specialty items (like specialized travel gear) when I am in the USA.
Now that I have lived here for awhile, I plan to do more travel in Asia. This is a good home-base for travel. The problem is I don't want to travel by myself or I would travel more. Plus, I am enjoying regular life here. I plan to start playing tennis here, also.
Because my basic costs are so low, I can go out and spend on whatever almost without thinking about it (although I always do think about it!). It is a nice feeling. I just live on a low SWR and am prepared to shell out big bucks for medical costs some day. For something where quality of care could really make a difference, I would consider flying to Bumrungrad in Bangkok, if possible.
Only choose a place where you a good fit on multiple levels. For instance, many expats here don't like the weather and this restricts their activities. I really love it, even more than the Filipinos. Others can't stand some of the typical Filipino character traits and complain about them all the time. I try to understand and work around these issues.