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Monthly budget: Did I forgot anything?

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  1. #11

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    Not exactly sure where you got the $1000 for insurance from, but if you want international insurance up to the "Swiss standard", that's definitely not enough. You might want to keep the insurance you have back home right now, also in case you risk losing your reserve fund etc (not familiar how Swiss health insurances work exactly).


  2. #12

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    Quote Originally Posted by Mike12:
    @pin: a flight with swiss (round trip) costs around 8000. So 6x8000=48000. If I save 4000 a month it comes to those 48000. So I should be fine with that.

    Yes, internet and cable tv are missing. Good point. Will 1000 be enough for that?
    I am not sure if in real life you'll really get those $8000 flights often. Depends on season and time of booking, where you book (ZRH or HKG).

  3. #13

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    Quote Originally Posted by Mike12:
    I got a job offer to work in HK for a bank. They pay HKD 50'000 per month.

    Now I tried to figure out about the monthly cost and wrote a budget plan (we're a young unmarried couple).

    Did I forgot anything or made some big mistakes?

    Net salary: 41'000 (50'000 - 7'500 taxes and 1'250 MPF)
    - rent: 20'000
    - public transport: 1'000
    - groceries: 5'000 (we're fine cooking at home and eat local food)
    - gas etc.: 2'000
    - mobile phone: 1'000
    - health insurance: 1'000
    - fitness club: 1'000
    - flights back home: 4'000 (3 flights per year to Switzerland)
    - entertainment: 3'000
    - various: 2'000
    - bills back home:1'000

    All figures are for two persons. Bonus is not included in the salary.

    Thanks for any advice and corrections!
    You might want to lower you rent to 15k if you are a young couple.

  4. #14

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    ref transport cost, the average is 10hkd, less if you live and commute in same area, unless u take taxi all the time.


  5. #15

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    Quote Originally Posted by WMDS:
    ref transport cost, the average is 10hkd, less if you live and commute in same area, unless u take taxi all the time.
    frankly i would put rental, utilities, internet, tv and transportation into one bucket at say 20k or 22k. reason is that they all depend on your accomodation location/type.

    e.g. you can live further out (DB, Park Island, Gold Coast, NT) but your transportation cost would be higher. Or you could have an apartment that runs on electric cookers, water heaters, etc, then your gas costs is low but electricity is higher.

    some other points:
    - i think your groceries costs are still too low. for a young european couple i am sure you fancy some nice cheese, maybe some ham, etc every now and then. all of these come at a premium.
    - your office lunches - if you lunch out - can easily be 100-150 HKD/day, especially if you work at a bank in central (it can be lower but you might not be having lunches with colleagues).
    - assuming visa stuff works out, what is your gf going to do while you are working? that can cost too...
    - last but not least, 3x back to Switzerland a year?? it's 10k at least if you fly Swiss and why go home so often? if you decide to work abroad, you might prefer to put that money to nice holiday trips in the region rather than visit mommy back home
    carang likes this.

  6. #16

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    Quote Originally Posted by Mike12:
    I got a job offer to work in HK for a bank. They pay HKD 50'000 per month.

    Now I tried to figure out about the monthly cost and wrote a budget plan (we're a young unmarried couple).

    Did I forgot anything or made some big mistakes?

    Net salary: 41'000 (50'000 - 7'500 taxes and 1'250 MPF)
    - rent: 20'000 -> try to keep it around 15/16K - easily doable
    - public transport: 1'000 -> yes if you count transport + taxi and live near your office (ie MTR, short bus ride), else too low
    - groceries: 5'000 (we're fine cooking at home and eat local food) -> very fine unless you eat mostly western
    - gas etc.: 2'000 -> we are a couple, early 30ies and we spend ~ 800HKD/2 months on air conditionning (ie summer, much lower in winter ~ 300HKD), 150 in gas/2 months, 80/100 water/4 months
    - mobile phone: 1'000 -> divide it by 2
    - health insurance: 1'000 -> you should have one from your employer - if you take an additionnal one, some can be ~1K a month, some much more..do your shopping
    - fitness club: 1'000 -> yes but you don't really need fitness club unless you are into those muscle things...If you are into running, cycling...plenty of trails/raod anywhere for free
    - flights back home: 4'000 (3 flights per year to Switzerland) -> sounds correct it means 48K/year or about 16K/2 ppl per trip (I recently paid 16.6K for a flight back to France so that's about right, It can sometimes be more - max I paid was 20K/2 people, the min I paid was 13.5K/2 ppl, so 16K is about right)
    - entertainment: 3'000 -> it's plenty unless you party hard and like fancy dining
    - various: 2'000
    - bills back home:1'000

    All figures are for two persons. Bonus is not included in the salary.

    Thanks for any advice and corrections!
    see replies and you forgot clothing.....

  7. #17

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    50k is definitely doable. Where will you work? Have you been to HK before? What is your reason for moving?

    Your partner might be stressed living here on the visitor visa so make sure you factor in both sides.

    I would say that food is more expensive. Groceries are expensive. It isnt practical to move to a new country and not expect to eat out and explore.

    Sent from my GT-I9100 using GeoClicks Mobile


  8. #18

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    I really do not get how people can say that food is more expensive in HK than in Europe.
    It just ins't. Western food yes but food as a whole is cheaper.

    chingleutsch and bookblogger like this.

  9. #19

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    Quote Originally Posted by Mat:
    I really do not get how people can say that food is more expensive in HK than in Europe.
    It just ins't. Western food yes but food as a whole is cheaper.
    Food is more expensive in HK than in Europe.

  10. #20

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    Quote Originally Posted by Mat:
    I really do not get how people can say that food is more expensive in HK than in Europe.
    It just ins't. Western food yes but food as a whole is cheaper.
    I agree. You can eat out in HK for a fraction of what it costs in Switzerland (even in Central - Swiss restaurants are REALLY expensive)! On the other hand, as some folks have pointed out, if you like european-style meats and sausages or cheese, that can significantly add to the grocery bill! If you are happy eating out at various kinds of local restaurants, which do strangely local versions of european cuisines, it's much cheaper.

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