Potential move with 3 kids from the UK - can I afford it

[Esher54]

Dear All,

We are a family with 3 kids (6,5 and 2 years) and have an offer to relocate to Singapore. The gross salary is around $210K per year and we would prefer International Schools for the kids and a 3-4 bed condo minimum. Having read through many threads it looks like things could be tight especially if we want to lead a moderate life and enjoy a few holidays per year.

Any advise would be most welcome before making a firm commitment.

Thanks

[zzm9980]

Yes, things will probably be tight depending the lifestyle you wish to lead. There are tons of breakdowns on costs all over the forums, but this is off the top of my head:

That is 17500/month.

4000-6000 per month rent for a large 3 or 4 bedroom condo.
at least 2500 per month per kid for private school.
about 1500-1800/month income tax on that amount.
at least 1000/month groceries, based on what most families your size report.

If you want a car, at least 1500/month (car, erp, petrol, insurance, road tax) for a small 1.6l japanese car.
If you don't want a car, at least 600/month for taxies and bus/train for the whole family.

I think you get the idea.

[offshoreoildude]

Dear All,

We are a family with 3 kids (6,5 and 2 years) and have an offer to relocate to Singapore. The gross salary is around $210K per year and we would prefer International Schools for the kids and a 3-4 bed condo minimum. Having read through many threads it looks like things could be tight especially if we want to lead a moderate life and enjoy a few holidays per year.

Any advise would be most welcome before making a firm commitment.

Thanks

I don't think you can save a lot but income tax here is low. Consider it an adventure for a year or too. Look at using a local school for the first 4 years (P1 to P4 are ok - it's only P5 onwards that the madness starts IME).

[Sergei82]

about 1500-1800/month income tax on that amount.

Huh? What????

[zzm9980]

about 1500-1800/month income tax on that amount.

Huh? What????

Yep:

On the first 200,000 20,750
On the next 120,000 18 21,600

So 20,750, then 18% of 10,000, or $1800. 22,250 a year tax on that income before deductions and exemptions, which for a foreigner won't be that great. Thus why I put the range.

Of course with income tax in Singapore you don't get it deducted from your pay, but you'd be wise to stash it away.

[JR8]

Look at using a local school for the first 4 years (P1 to P4 are ok - it's only P5 onwards that the madness starts IME).

But if the children aged 5 and 6 are going to try for local schools, wouldn't they go in the 'foreigner's school-place lottery'? I.e. one could end up at school at Changi and the other out at Jurong?

Don't know, but just a thought.

[offshoreoildude]

Look at using a local school for the first 4 years (P1 to P4 are ok - it's only P5 onwards that the madness starts IME).

But if the children aged 5 and 6 are going to try for local schools, wouldn't they go in the 'foreigner's school-place lottery'? I.e. one could end up at school at Changi and the other out at Jurong?

Don't know, but just a thought.

Pick an unpopular school and try not to bring dragon children to Singapore.