you can only spend 350k pesos per founder, from those 40k. The rest should be used for other expenses, such as hiring, software (housing/rent is also refundable outside the 350k cap), etc.

350k pesos = 760 usd/month, which allows for some pretty ok living (a decent meal runs for 3-4k pesos, subway tickets are 500 pesos and so on).

I'm here with my wife, there's a guy here with SEVEN kids. :)

3-4k pesos per meal is already over 500k for one month, two people.

meal price * people * two meals day * 30 days

3k * 2 * 2 * 30 = 360k

other comments mention rent $300 (150~200k pesos?)

rent is not on that 350k limit (u can spend up to 600k a month in rent, which is enough for a pretty nice place - I currently pay 300k and live in the trendiest city in town)

if you're bringing family here, don't expect to be able to feed everyone on restaurants two times a day, every day of the week. That's impractical on basically ANY city, if you have a family. Alas, if you're planning that, you should not even be considering bootstrapping....

ah nice to know all that. thanks

so, updating my back of the envelope math for the monthly costs:

~US$700 rent ~US$700 for 'living' (food, transport, etc) ~US$4000 for paying two extra junior programers that will take you around 7 months to burn the 40k. maybe 6 if account for the trip and initial set-up.

interesting.

I'm doing my business plan right now and what you say is about right. Don't forget to have some budget for operating expenses - services like github, mailchimp, accounting program really add up...

Of course you can assume your revenue will cover those.