Family of 4 - Salary of 175K per annum sufficient in SG

Hi,

I am a banker with 15 years of experience and am getting an opportunity in Singapore. The annual salary offered is 175K + medical insurance.

I have 2 school going kids and my spouse is a housewife. Am aware that accommodation and schooling is expensive; hence wanted feedback if the annual salary is good enough for having a decent lifestyle with sufficient savings. My current salary is INR 3.5 Mio per annum and the objective is to  maximize savings over the next 5 years.

Your salary so high. Can I go outside your house.  beg for money?

It's perfect .
If ur single 3 to 5 k is necessary
For  a family  10+ k sgd per month is required .
As you RIGHTly mentioned .
Accommodation healthcare and education is very expensive .
Education to get admissions in public school is difficult for expat than for locals
.since fees are lower .
Private school is very expensive
15 k is what ur salary is .per month .
It's perfect
take the offer .
All the best
regards

Thanks  rajrana1981 for your feedback. Appreciate it!!

average salary in singapore is sg$2,200 per month.

tata3lab wrote:

average salary in singapore is sg$2,200 per month.

According to official statistics (see http://stats.mom.gov.sg/Pages/Income-Summary-Table.aspx) the average salary per full-time employee was S$3770/month in 2014.
The average household income (including double-earning families and other income sources like investments, rents, etc.) is slightly below S$10000/month.
Where did you get your differing (and wrong) figure from?

You may take offer but looking at your query in second phase which was unnoticed here.

That you are currently drawing 35lakhs in INR which itself is very good and almost equivalent or more even to 175k in SG if u look into expenses angle. Believe, you must able to save 1.5lakhs per month from your currently drawn salary in India.  And, by looking at your current offer in SG, you may be saving max 2lakhs per month after a decent living life here with two school going kids.

So, it will give you monthly additional 50k INR in your savings account.

Hi
What is the age of your kids? And Indian schools in Singapore are quite expensive. Rentals also quite high. Here's the breakup
A) school fee upto 8 th std  -  1000 / month/ kid
B) school fee higher secondary - 2800/ month/ kid
C) tuition etc 400 to 500 / kid
D) rental - decent condominium - 3500- 4000/month.
E) if you want to own a car- 1000-1200/ month
F) maid - 700- 1000/ month expenses.
Rest you decide .
Savings possible but not substantial

I am earning $360,000 a year including bonuses.  And it is difficult to make ends meet with three children in Local schools.

The issues  is not the operational spend each year - but the ambition to pay off Singapore mortgages - which have low interest rate - but high repayments.

The above discussion clearly shows the very wide range of perceptions and expense levels while living in Singapore: Someone claimed S$2200/month (S$26400/year) is average and thus sufficient for most, and someone else says S$360000/year isn't enough.
The truth is probably somewhere inbetween these two figures, but highly depends on one's lifestyle, expectations and spending choices.
If only the new posters, who come up several times a week asking "Is XXX enough to live in Singapore?", would read and understand this thread before posting the same unanswerable question over and over again!

You are so right beppi .
Different people different standards of living .


Regards

HI there, don't want to scare you but it is pretty expensive here. For living I would say about $3.500 and up . Talking in sing dollars. Then all your expenses and school I am thinking about $5000 and up. I don't know what kind of living you look a like this price is on the lower side. Them if you need car is even more, much more.

There is an advertisement on 'https://www.expat.com/forum' and 'https://www.expat.com/en/guide/asia/singapore/6_study.html', Fairview International school fee is only eg. SGD$13,000 for Grade 5 kids, price include daily meals and daily transport from Singapore. Its well within your budget for school fees and additional enrichment classes. Fairview International is based at Johor and 20 minutes from Singapore Woodlands checkpoint. You can consider this private school.

chongyss wrote:

There is an advertisement on 'https://www.expat.com/forum' and 'https://www.expat.com/en/guide/asia/singapore/6_study.html', Fairview International school fee is only eg. SGD$13,000 for Grade 5 kids, price include daily meals and daily transport from Singapore. Its well within your budget for school fees and additional enrichment classes. Fairview International is based at Johor and 20 minutes from Singapore Woodlands checkpoint. You can consider this private school.

Would you really burden your kids with a school in a less developed country with questionable safety records and a lower educational standard, in addition to an at least 60min commute (each way), just to save a few hundred bucks?!?

It's a very common thing to do, just a matter of choice. The daily school coach also comes with security officers and escort throughout. From what I know the students can opt for boarding as well. For parents who can well afford $32K/year school fees in Singapore they do not have to read this thread..

Your decision is not at all common: There is ONE international school in Johore geared towards Singapore expats, compared to about 30 in Singapore, some of which cost around or below S$1500/month (e.g. the Indian International schoo, which isn't very good either, but at least controlled by Singapore's Ministry of Education). The bad security situation in Johore is shown by the need for armed guards on campus and in the buses at all times. Of course it's a matter of choice, but as I said, I personally wouldn't put my kids through a 60-90min commute (each way), dubious security and lower educational standards just to save a few hundred bucks. I'd rather leave him/her in a boarding school in my home country then!

Chill... like I say this is another option. The bus journey is 50 minutes from Singapore to the school as the Fairview Johor campus is only 15mins to 20 mins drive from Johor checkpoint. Chill...relax

chongyss wrote:

Chill... like I say this is another option. The bus journey is 50 minutes from Singapore to the school as the ++++ Johor campus is only 15mins to 20 mins drive from Johor checkpoint. Chill...relax

You might well chill, but the transport costs, the messing around getting ready an hour before the kids would normally have to and getting home an hour later will probably mean the kids can't chill.
Then we have the possibility of accident, break down, stuck due to bad weather, or whatever other bad news you can think of.
Should I ever be in that situation, there is no way I'd use a school so far away because it's unfair on the kids.

With a salary of SGD.10750 a month would it be sufficient , I also have my kid getting ready to join college , so higher studies .

Please give your best advices .

Sufficient for what?
What seems too little for some, might seem wealthy to others.
Please read the various existing threads about living expenses in Singapore (with focus on the costly items like type of property to rent, type of school for kid to attend, whether you smoke, drink, want a household helper or fancy a car) and come back with a more detailed question, for which we can give meaningful answers.

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