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How to budget expat family of 4 with 14k income?

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Lisafuller
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Re: How to budget expat family of 4 with 14k income?

Post by Lisafuller » Sat, 28 Oct 2023 2:25 pm

pragueexpat wrote:
Sat, 28 Oct 2023 8:53 am
Hello,

We relocated from Prague to Singapore in May 2023. Family of 3, lifestyle back in Prague similair to yours, except we did not live downtown and did not pay a rent, but a mortgage which I guess is comparable anyway.

This is how our current monthly budgeting looks like in Singapore:

SGD 6000 - housing, this is 2 bedroom 1100 sqft condo around CBD. I am sure you can find bigger and cheaper, depending on location. Be prepared to pay security deposit before you move in, usually 1 month rent for 1 year contract and 2 month rent for 2 years contract. Plus first month rent upon signing LOI which is usually signed before the contract itself.

SGD 350 - utilities, which is electricity and water. If you need gas, there is usually a tank which costs about SGD 50 to replace once it runs out. But that of course does not happen every month. You also need to factor in aircon servicing fee every 3 months, unless it is covered by the landlord as a part of your contract (which is our case so not sure how much they are).

SGD 50 - Internet

SGD 50 - Mobile

SGD 2100 - Kindergarden for our 4yo, but will be moving to pre school as of Jan 2024. That could cost anywhere from SGD 3000 to 5000 and more in case of international / global schools. Plus tons of different "fees for the fees" as I like to call them - enrollment, transportation, uniform etc. Some schools charge by semester or trimester, so be prepared to pay relatively large lumpsum just to get your kids in. There are lots of school holidays too, so you probably will need a nanny to entertain the kids while you work so your wife gets a break too.

SGD 400 - Medical insurance for the whole family. I also have company provided one, but that would not be good enough in case of any serious issues. So we pay extra. Do study the one your company provides in detail and make sure it is good enough. Insurance works way differently here comparing to Czech Republic. It usually covers only hospitalization and associated charges leading to it and post hospitalization follow up treatment. Your usual doctor visits will be paid out of your pocket unless you have company benefits covering it. Healthcare is great, but very expensive in SG. Emergency room and 2 nights in private hospital cost us SGD 5500.

SGD 2000 - Groceries, may fluctuate depending where and how frequently you shop. Had quite bad experience with groceries delivery from local chains, far from the level of Rohlik or Kosik back in Prague. Amazon Fresh works OK though.

SGD 1600 - Dining, including delivery. Delivery adds up quite a bit. Minimum you would pay is about SGD 30 per order I would say. So relying on it solely is not sustainable. It would be better to combine it with hawker centers and local restaurants and cafes.

SGD 900 - Transportation, mostly taxis as the public transport is really cheap. So would recommend to use it as much as you can. Be aware that local Just Grab (analog of Uber) drivers are not allowed to pick up little kids without child sits. So the options you have is to either carry around portable sits or using Grab Family, Grab Premium or Standard Taxi services instead (more expensive and not always in the area when you need them).

Hope this helps and gives you some idea and also pointers on what to watch out for. Obviously each case is different and you may end up spending less or more depending on how you adjust. Assume though that you will be spending more in a first few months before you work out your local financial dynamics. There is always something unexpected that could take you outside of your budget.
You're absolutely right aboht Grab. Only found this out recently when I was watching my god daughter.

iwobobul
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Re: How to budget expat family of 4 with 14k income?

Post by iwobobul » Sat, 28 Oct 2023 5:20 pm

Thank you all for your replies. I appreciate each and evey one!

It seems the action plan should be something like this:
1) Find school/Kindergarten that we like, that would be within 1750/child budget range.
2) Find a HDB or condo that is easy to commute to the Kindergarten, and to work.
3) No helper for now. Once my wife gets a job, might have to get a helper. However probably need to find a place big enough to be able to host one more adult in case we need it.

@malcontent — I am sorry to hear about your kids being threated like that. Honestly it's one of my biggest fears now, and I am not sure how to go about finding a daycare for them that would be relaxed and nurturing. I'd appreciate if you could share the name of the scool here or privately, so that I know what to avoid.

@pragueexpat — this is invaluable to know, especially since you mention a lot of lifestyle similarities, for example we do use Rohlik and it's good to know that we should not expect same level of quality from local deliveries. I must admit though, your budgeting with one kid is what I was expecting to have with two kids, so it scares me a bit, because all these lifestyle shifts take time, and I don't want to dig into my savings too much.

Regarding cost ratchething up three times when kids go to preeschool, which age does that happen at? I was expecting around the same or even lwoer cost, as kids grow up because they do get easier to deal with, but apparently not from the schooling system's POV?

Do I really need to expect to pay 6k per child once they get to age 5-6? Or is that only tru for premium 'prestige' schools?

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malcontent
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Re: How to budget expat family of 4 with 14k income?

Post by malcontent » Sat, 28 Oct 2023 9:44 pm

iwobobul wrote:
Sat, 28 Oct 2023 5:20 pm
Thank you all for your replies. I appreciate each and evey one!

It seems the action plan should be something like this:
1) Find school/Kindergarten that we like, that would be within 1750/child budget range.
2) Find a HDB or condo that is easy to commute to the Kindergarten, and to work.
3) No helper for now. Once my wife gets a job, might have to get a helper. However probably need to find a place big enough to be able to host one more adult in case we need it.

@malcontent — I am sorry to hear about your kids being threated like that. Honestly it's one of my biggest fears now, and I am not sure how to go about finding a daycare for them that would be relaxed and nurturing. I'd appreciate if you could share the name of the scool here or privately, so that I know what to avoid.

@pragueexpat — this is invaluable to know, especially since you mention a lot of lifestyle similarities, for example we do use Rohlik and it's good to know that we should not expect same level of quality from local deliveries. I must admit though, your budgeting with one kid is what I was expecting to have with two kids, so it scares me a bit, because all these lifestyle shifts take time, and I don't want to dig into my savings too much.

Regarding cost ratchething up three times when kids go to preeschool, which age does that happen at? I was expecting around the same or even lwoer cost, as kids grow up because they do get easier to deal with, but apparently not from the schooling system's POV?

Do I really need to expect to pay 6k per child once they get to age 5-6? Or is that only tru for premium 'prestige' schools?
Depends what you consider a premium/prestige school. Ease of transition back to your home country (or next posting) usually takes first consideration over cost.

Most schools list their fees, it’s not like it’s a secret. Go to the school’s website and see for yourself. Here is the latest for the American School, roughly $4k now, and rising.

https://resources.finalsite.net/images/ ... hedule.pdf
It is impossible for a man to learn what he thinks he already knows - Epictetus

JWNYsg
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Re: How to budget expat family of 4 with 14k income?

Post by JWNYsg » Sun, 29 Oct 2023 10:46 pm

Welcome to Singapore. Hope all works well for you

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