Is 65K HKD Enough For Expenses of Family of 4

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  1. #1

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    Is 65K HKD Enough For Expenses of Family of 4

    Hi
    Considering moving to HK and negotiating salary with employer. Just wanted some views of whether 65K is enough for a family of 4. Worked something out below for living expenses, rest as savings.

    Rent (800-1000sq ft) - 18000
    Food + Groceries for 4 - 11000
    Utilities+Internet+Mobile(for 2) - 4500
    Transport (for wife and kids, covered by company for me)- 1000
    School (for 1 child) 6000
    Misc(For unexpected expenses) 1350
    Tax 10730

    any other expenses i should consider?
    Thanks for comments

    Last edited by xito; 09-07-2009 at 08:54 PM.

  2. #2

    Rent (800-1000sq ft) - 18000 This should be ok as long as long you stay away from the prime districts. It may mean an older style apartment possibly a condo in Kowloon, New Territories and areas like Chai Wan.

    Food + Groceries for 4 - 11000 This is quite a lot to spend unless you want organic foods and need to get baby formula etc. If you buy locally from the wet markets you should be able to afford a domestic helper with this budget with plenty of cash to spare. It also depends on how often you want to eat out at restaurants.

    Utilities+Internet+Mobile(for 2) - 4500 Utilities such as gas, water and elcetricity should be under 600-700 a month unless you leave the aircon 24/7. Internet 100-300 depending on speed plus Cable tv channels etc. Mobile plans can vary depending your choice of a simple phone to an I-phone.

    Transport (for wife and kids, covered by company for me)- 1000 Sounds reasonable if they go out quite often. Using taxis will obviously mean less excursions but should be ok for short distances
    School (for 1 child) 6000 Some international schools will charge a lot more than this. There is a Singaporean International School here but I'm not sure how much their fees are

    Misc(For unexpected expenses) 1350
    Tax 10730 I'll let PDLM or someone else answer this

    May need to budget in clothing or entertainment which can come under unexpected expenses. Also holidays??

    Hope this helps.

    *These estimates can always be debatable by others in HK depending on their lifestyle and spending habits. The more local you get... the more $$$ you can save!


  3. #3

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    Thanks for your comments really helpful, gives me some reference point and something to think about.

    I am trying to be more conservative cos don't want to end up in HK and struggle to make ends meet. Also moving from a secure job with good prospects in singapore but always had this desire to work in an overseas environment instead of comfortable singapore.


  4. #4

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    Most of this is current .. will be updating later this month.

    Cost Of Living In Hong Kong | Hong Kong GeoExpat


  5. #5

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    I live on the Island (Heng Fa Chuen) - 950sq ft, 3 and a half bedrooms, balcony overlooking the harbour. HK$18000. So your budget for accomodation looks spot on to me.


  6. #6

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    Quote Originally Posted by shri:
    Most of this is current .. will be updating later this month.

    Cost Of Living In Hong Kong | Hong Kong GeoExpat
    Hey thanks really useful too. Looks like kennedy town out of my budget. Likely going to work there.

  7. #7

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    Quote Originally Posted by hullexile:
    I live on the Island (Heng Fa Chuen) - 950sq ft, 3 and a half bedrooms, balcony overlooking the harbour. HK$18000. So your budget for accomodation looks spot on to me.
    Hey sounds lovely. Gonna try look for something with greenery and view of the harbour!

  8. #8

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    Quote Originally Posted by xito:
    Hey sounds lovely. Gonna try look for something with greenery and view of the harbour!
    Um greenery - not sure you would count a few bushes as greenery and when I say harbour that is the end of it not near the ferries. Island Resort is another option, I would have thought that was the same price range.

  9. #9

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    except taht heng fa chuen is on the complete opposite side of the island from kennedy town...

    you should have any problem finding something in kennedy town for $18,000!


  10. #10

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    Quote Originally Posted by carang:
    except taht heng fa chuen is on the complete opposite side of the island from kennedy town...

    you should have any problem finding something in kennedy town for $18,000!
    It's an easy commute on the MTR though. I was not really pushing HFC as the ideal location, more that the price range he was quoting was fine to find something suitable in a location that would be suitable.

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