Is 5000 SGD enough and can we save decent amount.....

Hi,

I've been offered a EP in Singapore for a monthly salary of SGD 5K.  Is this ok for a married couple with kids to live comfortably and also have decent savings?

- I'm planning to live in a 1BHK HDB (How much it cost as I saw range between 500-1200 SGD per month)
- how much tax I have to pay per month
-will use public transport for majority of my travel
-How much would my living expenses work out to... considering  all of the above + utilities like electricity bill (heavy use of AC), internet, tv setup box, mobile phone bills, telephone bills?

Please help me to estimate so that I don't end up in troubles ,,,

Thanks!

To put it simply ,

You need 5 k if you are single.
And 10 k + if ur married with kids.

Education accommodation and health care is expensive there .
Remember singapore is amongst the top expensive places to live in the world.
Also which district you will stay will matter.

Charmavietnam one of our member friends in his previous posts has replied to a similar query with complete break up of costs
Which includes rent , transport, Electricity ,water . gas ,cable ,internet ,mobile, food ,education accommodation and health care .
Regards

To add to Rajrana's post above:
- 1BHK flats are very rare in Singapore - you won't find one to rent.
- The only accommodation options in the S$800-1200/month range are sublet rooms in shared apartments (above S$1000/month if you want an attached bath)
- Rent for whole apartments (usually 2BHK) starts at S$2000-2500, but S$3000/month is more realistic.
- You need S$800-1000/month per person for all other daily expenses (frugal lifestyle without any luxuries)
- If you have kids, you must also consider school fees of S$500/month (public school - very difficult to get into for foreign kids) or S$1500-3000/month (private schools, more likely for foreigners). Child care starts around S$1000/month (full day care)
- Taxes are very low (at least one good news!) and would amount to less than S$1000/year in your case
Sum up all the above, then add your desired monthly savings and you get what you need to earn.
S$5000 is not enough for a family, by far!

Oh, I just saw "heavy use of AC".
This can add several S$100 to your electricity bill every month. At this salary you can't afford that!

Beppi has given break up of costs . :top:

Immu , you need 10k +  if you will be living with your family.

If you will be living alone then 5 k would suffice .

Regards

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