The old question of how much money is enough..

[stones10]

Hi,
We are currently mulling over a proposed move to HK. Salary seems to be around 80K per month, maybe slightly higher. Apart from some relocation expenses, there is nothing in the form of 'an ex-pat deal'. Do you think this is enough money to comfortably live on with a partner and a child under three. We would expect to pay around 25-30k a month on accommodation (from the research I have done) and send our child to daycare (finding it hard to get exact costs on that). Not sure if my partner will work.
The question is, would we be spreading ourselves too thin with that kind of salary? (I am aware people earn a lot less in HK).
We would have moderate lifestyle expectations e.g. eating out once or twice a week, perhaps a couple of holidays overseas....is there any room for savings here?
Any answer is appreciated.
Thanks.
TF

[pudcat]

I note you refer to your other half as your partner - are you married?

[carang]

1) day care virtually does not exist in hk. most people who are in the situation of both parents working hire a full-time live-in helper to take care of the child/ren.

2) unless you are married, your "partner" will NOT get a dependent visa, in which case, in order to live here s/he would have to find a job that is willing to sponsor a work visa.

3) school fees range from $0-10,000/month, so make sure you budget that into your decision.

you will be making more than the majority of hk residents with that salary. what is a luxury to some is a necessity to others. if you can't "afford" to save anything on that kind of salary, then you need to cut some costs as there is no reason why you shouldn't be able to save a large chunk of that kind of salary.

[stones10]

Sorry, partner is wife...
When you say daycare does not exist, is there something 'like' it e.g. classes / get together for young children? My wife will look for a job but whether she gets a job or not we would like our child to 'socialise' in class environment with other children. (I'm not overly fond of employing a full-time live in helper).

[bdw]

Kids start school quite early here. There are kindergartens, playgroups, preschools, or whatever you want to call them that will accept 3 year olds.

You should factor in about $5,000/month for an international kindergarten, and about $10,000/month for an international school once they get around 5 or 6 years old.

There are ESF schools and kindergartens which are government subsidised and a bit cheaper.

Whatever option you choose, there could be very long waiting lists of many years. So you better put your kid on a waiting list ASAP.

[carang]

some local kindergartens/nurseries will take children as young as 2, but many won't accept them until 2yr8m or older.

there are loads of playgroups etc around, silly to recommend any until you know where you will be living.

if your child attends "school" for 1/2 day, then your wife may have a very difficult time finding a job as part-time positions are few and far between. i'm not saying they don't exist, they just aren't very common.

it is not "necessary" to hire a live-in helper, it just makes life a whole-lot easier. it is illegal to hire anyone on a work visa or domestic helper visa to do any babysitting so finding someone for an evening out with your wife maybe quite difficult.

the live-in helper option gives you(depending on your needs): childcare, housekeeping, cooking and errand runner etc. this means that your wife, when home can actually spend time with your child instead of taking care of the household chores, if she so chooses.

having a helper is definitely not for everyone, but we'd be lost without ours. she's been with us since 1 week before my eldest was born (5.5 yrs). because both hubby and i work, we'd be really stuck without her (there's no school bus for our kids where we live, so someone has to take them to school, which doesn't mesh with the times we have to be working).

i agree whole-heartedly about the international schools waiting lists, if that is the way you choose to go. some of us have chosen to take full advantage of living here and enrolled our kids into local chinese-speaking schools instead.

[Load Toad]

Does this site have a 'search' function - I do wonder you know. But I can't be bothered to look for it.

[stones10]

I have searched on some of these matters but when you talk specific money amounts that is hard to find....the topic was not originally suppose to be about childcare and I guess I can find that elsewhere. I do love a bit of sarcasm! ;-)

[carang]

there is an intrinsic problem with "specific amounts" that is, what is necessary to you may be a luxury to others.

example: will you ONLY eat imported fruit, veg, meat and groceries? if yes, then budget $10-15k/month

if you are willing to go more "local" you can feed a family of three for $3k/month

(remember things like milk, yoghurt, cheese etc are WESTERN and therefore not considered "staples" here)

will you feel the need to join the "must be a member of the club" group? if so, budget $8-10k/month

if you are happy making do with the public swimming pools, then budget $200/month

will you want to have all the channels available on every tv in the house? depending on how many tvs you have, you could budget $1500/month (3 tvs)

if not, then budget $0 and make do with the 2 free-to-air channels

as for "not being about childcare" i guess you are NOT the mother... THAT IS A VERY IMPORTANT thing to consider, whether you think so or not. YOU mentioned day care, we responded that it doesn't really exist here so that you will have to find alternatives.


will you insist that a car is a necessity? if so, then budget about $6000/month minimum (petrol, insurance, licence and a little parking)

parking for this cark could be another $6000/month

or you could choose to use public transport and spend $1000/month depending on where you live, where you work etc.
do you realise we took time out of our day to try to offer assistance to you, even though your questions have been asked a thousand times before?

rather than a smiley face and negativity, a thank you would have been nice.

[stones10]

Hi Carang,
Who is being negative? I was trying to fend of a sarcastic comment. I also appreciate any reply given to me...surely it is pretty obvious that my comment was to one person...who in turn I could have been rude too but I choose not. I suggest you reread what I wrote and take that into consideration. I was going to open up a childcare thread elsewhere as this thread was particularly about the money. I answered the way I did to that person because I wasn't sure if this was the forum for childcare. I really appreciate any information about childcare as this is the most important thing and I find your 'Not the mother' comment a little offensive...you know men can care about their children's wellbeing as much as the mother. I have a million questions about bringing a child into HK but I think you have different forums for that.
That all said, I appreciate what you wrote. Some things you wrote I had found on forums, other stuff I hadn't so it was great to read.
For anyone to take a moment out of their day to write any informative comment, it is very much appreciated.
Thanks.