View Poll Results: What's your total monthly spending in HK?

Voters
184. You may not vote on this poll
  • Less than $30k

    103 55.98%
  • $30k - $40k

    20 10.87%
  • $40k - $50k

    15 8.15%
  • $50k - $70k

    24 13.04%
  • $70k - $80k

    2 1.09%
  • $80k+

    20 10.87%
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Post your frugal budget

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  1. #31

    Where do you go for dinners that cost you just HK$150 for a family of 3?


  2. #32

    Join Date
    May 2006
    Location
    Pampanga, Philippines
    Posts
    29,768
    Quote Originally Posted by cendrillon:
    Frugality is not for everyone. That said I don't think there's a single thing I want that I don't have. I go sailing often, several trips to Australia and Thailand per year, eating out as much as we would want to taking into account the health impact of too much restaurant food, a pool and gym in our building, hiking, camping, beach, unlimited leasure time.

    I have room in my budget to spend more but honestly can't think of what else I would want to spend on. For reference I was spending around $70k per month on non-housing expenses in the US a year ago. I don't miss anything that we cut out.

    There's some things we may add over time like art classes or sports activities for the kids.

    How about you? What are those critical things you'd miss on a frugal budget (excluding private schools since that's a whole other conversation)? Western restaurants? A car? Trips to the Maldives?
    Where do those several trips to Thailand and Australia show in your frugal budget?

  3. #33

    Join Date
    Feb 2006
    Location
    Kennedy Town
    Posts
    1,014
    Quote Originally Posted by hullexile:
    Where do those several trips to Thailand and Australia show in your frugal budget?
    Go read the first post again

    Care to share your frugal budget or any tips?
    shri likes this.

  4. #34

    Join Date
    Oct 2005
    Posts
    14,414
    Quote Originally Posted by Walter White:
    Where do you go for dinners that cost you just HK$150 for a family of 3?
    Cafe de coral
    Fairwoods

    Etc.

  5. #35

    Join Date
    May 2006
    Location
    Pampanga, Philippines
    Posts
    29,768
    Quote Originally Posted by cendrillon:
    Go read the first post again

    Care to share your frugal budget or any tips?
    Fair enough my apologies. However, I do feel missing out housing, schooling and several holidays per year it is not really a frugal budget. Most people in HK would love your total budget.

    My budget would not be appropriate because I live in the Philippines. My total budget for a household of seven including three kids at private school is the same as your items excluded frugal budget.

    My mobile, TV and internet is dearer than yours. Utilities a bit cheaper though we run three aircons for an average of 12 hours per day. The big saving is on groceries and eating out and clothes. We buy as much as possible from the market and eating out here is stupidly cheap. Also no health insurance.
    cendrillon and East_coast like this.

  6. #36

    Join Date
    Feb 2006
    Location
    Kennedy Town
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    1,014
    Quote Originally Posted by jimbo:
    Cafe de coral
    Fairwoods

    Etc.
    Most local restaurants are similarly priced, even more mid-range seafood restaurants, the types with big round tables, white linen and live fish in tanks. Find a place that isn't full of foreigners basically.

  7. #37

    Join Date
    Oct 2005
    Posts
    14,414
    Quote Originally Posted by cendrillon:
    Most local restaurants are similarly priced, even more mid-range seafood restaurants, the types with big round tables, white linen and live fish in tanks. Find a place that isn't full of foreigners basically.
    Far from it

    My local ones in Kowloon, not high end etc but mid range.
    Those that you described charge around $75 -$80 per dish.
    Two dishes for 3 people for $150?
    Tea and rice on top.

    If you want to starve then go ahead.

  8. #38

    Join Date
    Feb 2006
    Location
    Kennedy Town
    Posts
    1,014
    Original Post Deleted
    I think the private versus local school topic deserves its own thread so trying to cram it in here isn't going to be productive. Have you seen the thread on hours of tutoring for example? That was a huge debate on just one small aspect of education.

    Also for housing does it really make sense to compare this? I bought long ago and have a very low mortgage, but I don't think that information is particularly helpful for anyone. If you are interested the market rent of where I live is probably around $24,500.

    Similarly for vacations, some people will choose to travel back to the UK to see family once a year, for me its much cheaper to fly back to Australia, plus I have a lot of miles. For trips that don't involve returning home (which varies so much from person to person) perhaps it is interesting to discuss costs. If you care to know because of miles I average around $1300 a month on vacations.

    So if you find it interesting or helpful my own budget with market housing, education costs and vacations included, and with all the caveats listed above is:

    Market rent $24,500
    Groceries $3800
    Vacations $1300
    Mobile (2 lines 5 GB LTE) $192
    Internet + TV (100 Mbps) $198
    Transport (Trams and buses) $320
    Clothes $1000
    Restaurants $3200
    Health insurance (12M annual limit per person) $930
    Utilities $2000
    Hobbies $1000
    School Books $225

    Total $38,665

    Why not share a portion of your budget and show us the correct 'GAAP' way to do it?

  9. #39

    Join Date
    Feb 2006
    Location
    Kennedy Town
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    1,014
    Original Post Deleted
    Yeah, lets throw it in. Its going to vary a lot with people having different size families and so on, but it'll be interesting nonetheless.

  10. #40

    Join Date
    Jun 2004
    Location
    HK
    Posts
    14,624

    Housing: 13000 (w management fees inc)
    Groceries 7500 (3 adults + 1 kid)
    Mobile (2 lines) 700
    Internet + TV 250
    Transport (bus-taxis) 7000 (2 people)
    Clothes 1000
    Restaurants 5000
    Health insurance 2500
    Utilities 3000 (Water, Electricity and Gas)
    Hobbies 1500
    School 7500
    School bus 1500
    Studies (wife) 5000
    Trips 10000 (once to Europe - 2/3 in Asia ~120000/150000 a year)
    Car - Petrol 800
    Car - Parking 1500
    Car - Maintenance 1200 (insurance + Road Worthiness test + repairs - 12k to 15k a year)
    Medical 1500
    Kids Activity 1500
    Helper 6000 (salary and associated cost
    Other emergencies 5000 (home repair, donations etc etc)
    Entertainment 2000 (cinema, Happy Hours, etc)


    Total: ~ 85,000
    + Taxes.

    jrkob likes this.

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