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Is $150k enough for family of 3?

Is $150k enough for family of 3?

Old Feb 20th 2016, 10:11 am
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Default Is $150k enough for family of 3?

Hi Group,

I have found some great information on the forum boards so far so thank you to all of those that have posted.

I wanted to ask a question and hope to get some of your opinions, my wife has been offered a position in Singapore for $150,000 per year before tax the package will include healthcare for all of us and return flights to UK once a year.

Our initial intention is for me not to work whilst we settle and I decided on the career path I want to follow-up on.

Were looking at a 2 bedroom condo in a nice area, but don't need to be in the middle of things or a prime area but we would like some nice facilities such as pol, Gym etc.

Our son is only just 3 so we will be looking at a few days a week nursery.

Will this income be enough for us to have a comfortable life in Singapore and enable us to socialise and go out for dinner etc etc? Were not that bothered about savings that would just be a bonus.

Your thoughts are much appreciated, and any breakdowns of potential costs would be great.
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Old Feb 20th 2016, 10:41 am
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Default Re: Is $150k enough for family of 3?

You'll be ok.
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Old Feb 23rd 2016, 7:48 am
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Default Re: Is $150k enough for family of 3?

Forget private school, the local ones do O an A levels anyway. Forget a car unless you want to pay 50K pounds for a Toyota Corolla. Live like the locals do and you should be okay, try and live the expat lifestyle and you'll battle.
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Old Feb 23rd 2016, 2:07 pm
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Default Re: Is $150k enough for family of 3?

Originally Posted by ex reg View Post
You'll be ok.
+1.

Family of 3 will easily survive on that salary. Comfortably.

Salary per month = $12.5k

Minus:

Rent 5k a month for central location
$300 for PUB (electric, gas and water)
$100 for cable and Internet
$100 for mobile phones
$2k comfortable living costs (more than enough)
$5k for savings and future tax bills
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Old Feb 23rd 2016, 2:54 pm
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Default Re: Is $150k enough for family of 3?

Sorry for jumping into this but could I please also ask how much am I looking for a 1 bed condo in a nice area with gym , pool etc. Where are the best areas to live, quite central and still not over priced. Thank you in advance I'm moving to Singapore in May.
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Old Feb 23rd 2016, 3:13 pm
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Default Re: Is $150k enough for family of 3?

As mentioned in your other post, check property guru sg for an idea on prices.
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Old Feb 24th 2016, 7:49 am
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Default Re: Is $150k enough for family of 3?

Thank you all so much for your help on this, currently living in the UAE (Dubai) and we do see a lot of people make a mistake in moving here on an income that is well below what they need to live on.

We're hoping that I will find a suitable Job also once we have arrived so we're sure the income will increase significantly but we just want to make sure that as a minimum this 12,500 per month will cover an okay lifestyle.

If anyone else has any input that would be fantastic.
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Old Jun 19th 2016, 2:35 am
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Default Re: Is $150k enough for family of 3?

Hi there, we moved here in January and my partners deal is the same and we live well. Rent and utilities 5000 per month, we save at least 3000 per month, schooling for one is covered and we live comfortably as a family of 4 and have enough cash to do nice things every weekend. You will be fine on that package.

Just don't do your weekly shop at Cold Storage - we've since found a lot of better places and a lot cheaper and better quality too
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Old Jun 19th 2016, 3:48 am
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Default Re: Is $150k enough for family of 3?

Originally Posted by allthewayfromuk View Post
Hi there, we moved here in January and my partners deal is the same and we live well. Rent and utilities 5000 per month, we save at least 3000 per month, schooling for one is covered and we live comfortably as a family of 4 and have enough cash to do nice things every weekend. You will be fine on that package.

Just don't do your weekly shop at Cold Storage - we've since found a lot of better places and a lot cheaper and better quality too
Thank you so much for taking the time to reply, we arrived in Singapore 3 weeks ago and just moved into a 3 bed condo in Holland village ($5,500pm) and so far so good. We just need to work out the tax etc as that seems to be rather confusing....

You mention not cold storage what alternatives have you found??

Any other tips from a fellow newbie would be gladly received!
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Old Jun 19th 2016, 8:35 am
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Default Re: Is $150k enough for family of 3?

Cold Storage is OK and the ones at Holland Village and the nearby Cold Storage known generally as Jallita is also good.

We generally shop at NTUC especially if you are close to NTUC Finest.

Try the wet markets for meat fish and veggie. Once you get into the swing of shopping there and get to know the sellers it's fine. There's a wet market at Holland Village.

However we find the many restaurants at Holland Village and the Chip Bee area to be overpriced, much as you'd expect for an ex pat area, although Fosters is OK as a steak restaurant if the local stuff begins to pale.
Of course if you are looking for overpriced restaurants and food and furniture outlets then nearby Dempsey Road will suit.
OK to eat there if you are on an entertainment allowance with your job.

Last edited by ex reg; Jun 19th 2016 at 8:42 am.
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