costs of living

[robodude]

Hi,
I am trying to estimate budget for comfortable living for family of 3 (2 adults + 1 3yo). I assume: kindergarten: ~1500SGD/mo - English classes are prio, learning Chinese is a plus 2-3 bedroom apartment not too far from queenstown (30-40min commute): 3500SGD/mo

My avg monthly income after tax would be around 12300 SGD / mo. This means in theory I have 7300 SGD left for eating, savings, whatever other costs. We like asian food, cook ourselves, don't really need a car, rather renting and traveling.
After some time, hopefully my wife finds job as well.

Does it make sense? Appreciate any feedback!

Thanks

[PNGMK]

Schooling costs jump dramatically for International Schools .... you're estimate is well under. I'd budget at 30k a year for schooling.

Also rents are definitely going up. I don't think 3500 is enough. Probably 4k will be enough.

[nelyanne]

Whether your wife will find a job or not, it depends on her education, skills, experience... Some industries/roles are totally closed for foreigners
For the general costs of living, you can check numbers on Numbeo.com. I find them quite accurate for Singapore. Add maybe +5% for the inflation.
If you want to cook at home, you can check the prices of groceries on Lazada Redmart - online supermarket.

[sundaymorningstaple]

Hi,
I am trying to estimate budget for comfortable living for family of 3 (2 adults + 1 3yo). I assume: kindergarten: ~1500SGD/mo - English classes are prio, learning Chinese is a plus 2-3 bedroom apartment not too far from queenstown (30-40min commute): 3500SGD/mo

My avg monthly income after tax would be around 12300 SGD / mo. This means in theory I have 7300 SGD left for eating, savings, whatever other costs. We like asian food, cook ourselves, don't really need a car, rather renting and traveling.
After some time, hopefully my wife finds job as well.

Does it make sense? Appreciate any feedback!

Thanks

viewtopic.php?p=851706#p851706

[BBCDoc]

Do you have health insurance? Is your company providing any? Make sure you cover that angle too.


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[malcontent]

It’s surprising how expenses can accumulate. All of the seemingly little things add up, and before you know it, it’s a 5 figure sum.

Going without a car helps. Going without air conditioning helps. Going without diary products helps. Going without alcohol helps. Going without beef helps. Going without imported Western foods of most kinds helps.

One other point on schools, don’t assume you can get your child a place in any school here. The popular schools have waiting lists, including popular local kindergartens. Both of my kids went to Barker Road Kindergarten, it’s a decent local school that foreigners can access, if there is a spot available - price is also reasonable. But that is only an option until age 7. No easy or cheap options after that.

[abbby]

I think $3.5k to $5k if you're looking in the queenstown area, maybe older condos give better value and space. Just avoid a west facing house to avoid high bills from the high air-conditioning.

To add on, your child might need tuition or enrichment classes which will add on to your schooling expenses. Don't drink and smoke, that'll save you quite a bit.

Grab cab is common, but car might come in handy if you have a kid to move around. Buy second hand cars if you're looking to buy a car or a COE car.

I think schools, rents and cars are the highest costs you need to consider.

[malcontent]

Schooling: $2,500-4,000/mo per child
Housing: $4,000-5,000/mo (3br, outskirts)

Remember, housing is not just rent alone, and schooling is not just tuition alone.

These two expenses can easily push a family of 4 into 5 digits monthly. This is why expats get packages, and locals get government subsidies for education, housing and healthcare. So if you have school aged children and you’re not getting a package or subsidies, you really need an exit plan.

If you are single, a couple or a young family, it’s important to recognize how your expenses will change as your family situation changes.

[robodude]

Whether your wife will find a job or not, it depends on her education, skills, experience... Some industries/roles are totally closed for foreigners
For the general costs of living, you can check numbers on Numbeo.com. I find them quite accurate for Singapore. Add maybe +5% for the inflation.
If you want to cook at home, you can check the prices of groceries on Lazada Redmart - online supermarket.

Thanks! good advice on Numbeo

[Lisafuller]

Hi,
I am trying to estimate budget for comfortable living for family of 3 (2 adults + 1 3yo). I assume: kindergarten: ~1500SGD/mo - English classes are prio, learning Chinese is a plus 2-3 bedroom apartment not too far from queenstown (30-40min commute): 3500SGD/mo

My avg monthly income after tax would be around 12300 SGD / mo. This means in theory I have 7300 SGD left for eating, savings, whatever other costs. We like asian food, cook ourselves, don't really need a car, rather renting and traveling.
After some time, hopefully my wife finds job as well.

Does it make sense? Appreciate any feedback!

Thanks

Would be smart to budget higher for rent and schooling, kindergarten should be fine but once the child enters grade school (assuming you’re still living here), costs will rise exponentially. If you find that you will need to make frequent commutes, especially to ferry your child to and from school, it may be a good idea to look at getting a secondhand car. This is a great option because if you get one that’s around 10 years old, it’s already depreciated significantly but still in great condition. Plus, you can get one with remaining COE that matches the length of time you plan to stay in the country so you won’t have to pay for the full 10 years.

[Lisafuller]

Whether your wife will find a job or not, it depends on her education, skills, experience... Some industries/roles are totally closed for foreigners
For the general costs of living, you can check numbers on Numbeo.com. I find them quite accurate for Singapore. Add maybe +5% for the inflation.
If you want to cook at home, you can check the prices of groceries on Lazada Redmart - online supermarket.

Numbeo is a great tip, not many people know about it and the problem is some sites offer completely inaccurate figures so it can be hard to know who to believe.

[Lisafuller]

It’s surprising how expenses can accumulate. All of the seemingly little things add up, and before you know it, it’s a 5 figure sum.

Going without a car helps. Going without air conditioning helps. Going without diary products helps. Going without alcohol helps. Going without beef helps. Going without imported Western foods of most kinds helps.

One other point on schools, don’t assume you can get your child a place in any school here. The popular schools have waiting lists, including popular local kindergartens. Both of my kids went to Barker Road Kindergarten, it’s a decent local school that foreigners can access, if there is a spot available - price is also reasonable. But that is only an option until age 7. No easy or cheap options after that.

Dairy and beef? Seems a bit extreme Mal, are you speaking from experience?

[Lisafuller]

I think $3.5k to $5k if you're looking in the queenstown area, maybe older condos give better value and space. Just avoid a west facing house to avoid high bills from the high air-conditioning.

To add on, your child might need tuition or enrichment classes which will add on to your schooling expenses. Don't drink and smoke, that'll save you quite a bit.

Grab cab is common, but car might come in handy if you have a kid to move around. Buy second hand cars if you're looking to buy a car or a COE car.

I think schools, rents and cars are the highest costs you need to consider.

A little early to worry about tuition and enrichment since OP’s child is only 3 (although I guess one could argue it’s never too early to be kiasu).

[Lisafuller]

Schooling: $2,500-4,000/mo per child
Housing: $4,000-5,000/mo (3br, outskirts)

Remember, housing is not just rent alone, and schooling is not just tuition alone.

These two expenses can easily push a family of 4 into 5 digits monthly. This is why expats get packages, and locals get government subsidies for education, housing and healthcare. So if you have school aged children and you’re not getting a package or subsidies, you really need an exit plan.

If you are single, a couple or a young family, it’s important to recognize how your expenses will change as your family situation changes.

Coming to Singapore as an expat without a package is a Death wish financially.

[malcontent]

It’s surprising how expenses can accumulate. All of the seemingly little things add up, and before you know it, it’s a 5 figure sum.

Going without a car helps. Going without air conditioning helps. Going without diary products helps. Going without alcohol helps. Going without beef helps. Going without imported Western foods of most kinds helps.

One other point on schools, don’t assume you can get your child a place in any school here. The popular schools have waiting lists, including popular local kindergartens. Both of my kids went to Barker Road Kindergarten, it’s a decent local school that foreigners can access, if there is a spot available - price is also reasonable. But that is only an option until age 7. No easy or cheap options after that.

Dairy and beef? Seems a bit extreme Mal, are you speaking from experience?

The price of chicken here is similar to the US, but in the US the price of beef and chicken is roughly the same. Here? Beef is close to double the price of chicken, so I rarely indulge in things like steak for this reason.

As for dairy, milk costs 4x the US. And do not assume that is all because of the expense to import it from great distances, the price in Hawaii is double the mainland price, but that is still half what it costs here. Cheese is another one that is just outrageous, the cost here is just marked up the wazoo, well beyond what is explainable. Ice cream is another one, either you get the junky stuff made with coconut oil, or you pay nose bleed prices that make no sense at all — if you compare to the same
product in Hong Kong (which also has cartel pricing) it’s half price there. How can this be explained?

Certain prices here just make no sense at all, and there is no justification - it’s just a long held price disparity that nobody questions and competitors have all agreed “not to spoil the market” so they can all profiteer from it.