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90k enough for a family of three?

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  1. #1

    90k enough for a family of three?

    Hi there,
    I have been offered a 90k per month base salary job moving to HK.
    Would it be ok for a family of 3 ? Ideally we look for a 700 ffmm 2 bedroom apartment in the island, an international school for my 7 years old boy and the possibility to travel once a year to italy and brazil visiting ours families.
    I might get a 60k per year bonus too but not guarantee, also i understand i shouldnt pay more then 15% on taxes.
    Any advice will be very much appreciated.

    Many thanks,

    Last edited by nickdiba; 31-03-2015 at 04:27 PM.
    lynejen likes this.

  2. #2

    Join Date
    Jun 2004
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    HK
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    14,586

    - How much do you currently earn/what is yoru lifestyle
    - Hobbies?
    - wife working? planning on working?
    - planning on hiring a full time helper?
    - mortgage to serve back home?
    - experience in your industry/seniority?
    - What industry


    to make it short 90K is okay but it al depends on you and your lifestyle and expectations.


  3. #3

    Join Date
    Dec 2013
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    what does ffmm stand for?

    Generally I would have thought 90k is fine, although international schooling is not cheap (if you can get into one).


  4. #4

    Join Date
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    feet feet meters meters?

    OP: I'd guess that 90k would be doable. I don't know Island rents though. Certainly, if you're willing to live elsewhere, 90k would be fine, though not don't-need-to-worry-about-money fine.


  5. #5

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    Ideally we look for a 700 ffmm 2 bedroom apartment in the island, an international school for my 7 years old boy
    Your choice of schools will dictate the accommodation and where you live.

    You'll need to talk to your HR department about schooling first.. make that your priority, as most schools are over subscribed and may not have places available. You'll need to consider the curriculum (IB v/s UK - GCSE / A Levels) if that is an issue.

    Once you have schooling sorted, you'll get a better idea about how much to budget for rent and lifestyle (your 90K will look very insignificant in many parts of HK .. and in some parts it will go a long way...).
    chingleutsch likes this.

  6. #6

    Thanks Mat, I'll be working as IT support in the financial services business, 14 years experience with the firm i'm negotiating the move.
    I have worked in multiple countries so i have no commitment back home such mortgages etc.
    Initially we wont need an helper, my wife wont be working at least until she gets more fluent en english. My main concern is the school for my kid and being able to travel back home once a year to italy where i am from and to brazil where my wife is from and where we currently live.


  7. #7

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    Intl. school will be expensive and difficult to get a spot unless your company has a debenture.


  8. #8

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    Quote Originally Posted by HK_Katherine:
    what does ffmm stand for?

    Generally I would have thought 90k is fine, although international schooling is not cheap (if you can get into one).
    If he insists on the island then he's looking at 30kish a month on rent.
    Hefty chunk gone right there

  9. #9

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  10. #10

    Join Date
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    I had a friend who was around 90k in a similar situation (1 kid of school age, Brazilian wife). They lived in a small 2 bed + helper room in Taikoo approx 600 sq ft. They had a helper and were able to go out for drinks in Wanchai/LKF BUT they had to be very frugal with other things (he was naturally tight though so that suited him!). For example, he went home from work at lunchtime and ate at home. He also travelled on business a LOT so that meant he was away on expenses much of the time and racking up Asia Miles (which helped for trips back to Brazil and the UK).

    So it's do-able but will depend on your lifestyle and how careful with your budget you can be. (Note: my friends moved to Lantau and now have much more space for their money and seem far happier).


    Sent from my iPhone using GeoClicks

    HK_Katherine and shri like this.

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