mattjwhity

Hey all

Just wanted to get some info on the Caymans as my wife, daughter and I are keen to come and experience it for a few years.

Monthly costs, roughly?

Will we save any money? Ive heard its expensive?

I am a teacher and she is a qualified accountant, will we find jobs easily?


Any info would be great.


Kind Regards

Matt

Jerseygirl

Hello Matt...welcome to BE.

I have moved your thread over to our Caribbean forum...I'm sure someone will be along soon who can advise you on the Caymans. Good luck.

mattjwhity

legend thanks

Orangepants

Hi Matt,

Cayman is quite expensive to live, although there are apartments for all budgets. At the mo renting a 2 bed townhouse, probably cost about $1400-$1800 a month. Apts are fully furnished which is a great thing - sometimes even down to the linens. Electricity costs are increasing all the time but if you can turn off/down the AC the cost will go down. After I sold my house, the final 6 months I was there I house sat a gorgeous 4 bed beachfront house - my AC bill was $600 a month! Groceries are much more than the UK. School is expensive - all expats in private school.
You will need to find jobs before you go as you only get 28 days on arrival. Look at the recruiters and see what is available. Accountants are always in demand but in the Alternative Investment field. The economy isn't that great, suffered like the rest of the world and lots of Caymanians unemployed. Have a search through the threads - I have posted quite a bit on resources to check out..
As for saving money - well that is personal - you can live like a miser and save loads - know people who did this and you can live like a king and spend every penny - most people do this!! I think you have to stay quite a while to save any decent amount of money as start up costs are large whenever you move to a new country.
It is not cheap but it is a great place to live.

mattjwhity

Thanks Orangepants... nice name!

Sorry to pester you with questions!.. i see from your 450+ comments you dont mind helping out!!

Our plan is to come for 2-3 years, have a great time (which seems the easy but!) and come back with some money so Vicky can have some time off work with the kids or we pay for our extension (...the hard bit!).

We don't really throw money around over here in London so I cant imagine we will change if we come over.

From what you are saying it is fairly hard to save a lot over there?.. I have put some numbers together from various websites and came up with:

Rent (2 bed) 2,000
Food 1,000 (2 adults, 1yr daughter)
Water/Elec bills etc 600
Nursery (varied from) 400-600
Pension 500
Health 500
Hobbies 1,000


Does this sound about right?

Do I need a car if work is near by?

Sorry for the barrage of questions (they are mainly from my wife!)

Kind Regards

Matt

(so jealous you are out there while we are stuck in wet and miserable London right now)

Orangepants

You've done some good research..

For $2000 you should get a nice place. Your elec for 2 bed would be about $150 - $180 but can be less if you put down during day whilst out and in the cooler months you may not need it at all. Water is about $50, cable about $100 and internet about $80 and then mobiles which aren't too expensive so yes about $600 for bills. $1000 for food is good too. Now there is a cost-u-less store which has helped to bring the prices down generally and you can get loads of stuff from there. Eating out and alcohol is expensive!! That is where most people's money goes!!
Most employers (I think) pay your health insurance for the employee and can get the rest of family on for reduced premium @$400 each. You pay the doctor and then claim back from the insurance company. Pension - usually companies match to 5% (and you can only contribute 5%) so most people take out their own pension plans in addition.
You would need at least one car between you but yes cycling is possible and many do it... but you'd need to shower when you got to your destination! Car insurance is not too expensive and you can always buy a second hand car for $4-5,000 which would be okay. Gas is expensive but no-where to go so not a huge expense!

Lots of sports to get involved with which dont cost much and gyms are pretty good value. My company has its own gym and feeds us too (breakfast and lunch - so we dont leave the office) so I am totally spoiled!

Yes of course you can save - if you are good with money. I saved a lot (in 10 years) which afforded me the chance to build my own house in the US so it can be done but the temptations are huge but I was single so a totally different lifestyle. Trips back to the UK every year, trips to Miami shopping, seeing other Caribbean countries, influence of other (wealthier people's) lifestyles etc... I did it all!!

I am in the US right now but in Cayman every other month.

Good luck and any more questions, more than happy to help.

SeymourSkinner

ooops, I have sort of replicated a lot of these points elsewhere. One question though, you teaching in government school or private? Govt schools will provide your family with 100% health coverage, and your pension doesn't come directly off your pay - and the govt contribution is 'healthy' to say the least.

mattjwhity

Thanks Pants

Really really helpful, thanks!

We were hoping to save around 2,000-3,000 cayman per month which looks quite possible on those figures...

I am T-Total but wife does enjoy a bottle of wine (she will kill me if she knew i wrote that!!).. so we should be good on the alcohol front..

Im applying through the ministry of education for my teaching job so fingers crossed.. the health benfits sound great.

Just a few more questions (sorry!)

Wages wise.. I can work out what i will roughly get.. Vicky is fully a qualified accountant currently working at a big investment bank in canary wharf and from what i understand is highly valued ar her work.. tough question but any idea on what she would get over there?? will it match over here or generally higher?? ive read lots of conflicting stuff...


Is there anywhere to avoid living wise over there? Should we head for george town?

Thanks again

Matt

Orangepants

No idea about her salary as it would depend on whether her skills are transferable and what type of company, her experience and level and how good she is at negotiating! Best to call one of the recruiting companies and see what they say..
You should probably look at South Sound Road or Garden, Sunset Retreat area as near to town. Seven Mile Beach is more expensive. I can put you in touch with a realtor who does rentals nearer the time.

mattjwhity

yeah that would be nice...

cheers for now

fingers crossed we can find jobs!

Matt

mattjwhity

Hey orangepants

Sorry its been a while since my last 'hello'!

Are you in the Caymans at the mo or in the states?

I had an interview last week for a job in with the ministry of education for one of the government schools...

do you have any info on them or know anyone who has worked in one?

thanks

Matt

SeymourSkinner

I work in one!

mattjwhity

Hey Seymour

Well that's certainly going to help answer my thread!!..

Which one?
What's it like compared to the UK?
What are the kids like?

Any background would be great

Thanks

Matt

Orangepants

Hi Matt,

I only knew friends who worked at the private schools. Good luck with the job.

mattjwhity

Hey Seymour

Can I send you a quick email with some other questions on it?

[email protected]

cheers

Matt