Cost of Living in Hong Kong

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  1. #1

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    Cost of Living in Hong Kong

    Hi all,

    I am planning to move to HK. I have an offer in hand for HK$ 20000/-per month and accomodation will provided by the company. I have to manage family of 2 members (wife & 3 yrs old daughter). Can any body advise how much i can save to meet my other commitments in home country. What will my expected maitenance expenditure per month.

    Pl. advise... Thanks


  2. #2

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    20k for a family of three even with housing allowance is not really a lot of money to be honest, especially if you have other commitments to pay as well.

    firstly you need to tell us more such as

    how far will your commute to work be?
    what sort of lifestyle you currently lead, i.e you prefer only western food etc
    Will your wife be working as well or will she be staying at home looking after the daughter?


  3. #3

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    Also - how large will your accommodation be? On the Island or not? Will your employers also pay for utilities etc? (Electricity costs are driven by location (Island vs not) and aircon load which depends on size of flat).

    Will you be looking for schooling/kindergarten for your daughter or not?


  4. #4

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    Schooling can easily be close to 10K per month depending on the school...

    If your wife looks after the child, you hire no extra help, you use mostly public transport and you don't eat out more than twice a week in expensive restaurants, you should easily save 10K/month.

    If you don't buy too much imported food, the cost of living can be quite low in HK. Clothes are dirt cheap if you know where to shop. I bought at least 500USD worth of outdoor clothes for a little over 100USD(Arcteryx, Moonstone, North Face and Descente which are fairly expensive retail)you can get a nice bowl of noodle/rice with meat for less than 4USD.

    There are plenty of activities you can do for free(beach, picnic, hiking), internet and electricity are very reasonable. There are tons of slightly used furniture available for very little(and there's a possibility expats will be leaving in droves if the crisis continues). There's Ikea and as few other local shops if you prefer new.

    Many local families live on half the amount you are making and they're not suffering. Of course flights home and overseas holidays can quickly make a big dent in your budget.


  5. #5

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    Quote Originally Posted by gilleshk:
    Schooling can easily be close to 10K per month depending on the school...

    If your wife looks after the child, you hire no extra help, you use mostly public transport and you don't eat out more than twice a week in expensive restaurants, you should easily save 10K/month.

    .
    I think to say you could easily save HKD 10k is pushing it. That leaves a budget of HKD 10k for 3 people. Possible but not easy. Eating out twice a week in expensive restaurants for 3 people would blow most of that leaving nothing for utilities, travel, food, clothes, etc etc.

  6. #6

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    It would be a lot easier to reply to you with specific suggestions if you gave more information, such as work location, home location, whether your wife will also be working, etc.

    Here are a few suggestions on how to cut down on costs. I think that some you probably already know because they're quite general.

    1. Food

    Cut down your food costs. You could probably live on HKD 6-7k/month if you eat simple food at home or cheap food outside. Find the best prices for your food.

    2. Transport

    Get your employer to get a place near your work location and within walking distance of an mtr station and bus stops. Send your kid to a kindergarten nearby. You'll save a lot on tranportation costs. I can't say how much you'll need because you didn't give much information. Make sure you live in an easily accessible place, so that you won't need to take taxis.

    3. Child's Education

    Consider how much you want to spend on your kid's education. A kindergarten can range from HKD 2-6k/month. Find your money's worth. Consider whether you want to send your child to extra activities or whether you can do those things yourself or form playgroups within your neighbourhood. Consider whether you would like to buy new books or borrow books from the library or buy secondhand books. If you are afraid of them being dirty, you could clean them again yourself.

    4. Utilities

    If you have to pay for your own utilities, use the regular methods to save electricity. Appliances that don't guzzle up energy, only turning on the AC when needed, closing the fridge door quickly,etc.

    5. Domestic Help

    Don't get a domestic helper. Hiring a foreign domestic helper would set you back HKD 3,580/month + airfares, health check-ups and other costs. I do not recommend illegally paying below the minimum wage for foreign domestic helpers.

    6. Tax

    Since you are working in HK, you need to check whether you will be required to pay taxes.

    7. MPF

    If you will work here for more than 13 months and are not covered by an overseas retirement scheme, you will need to contribute to your own Mandatory Provident Fund.

    8. Other Expenses

    There are obviously a number of other expenses, such as clothing, airfares, family outings and other unexpected costs. I highly recommend saving a substantial amount per month for such extra and unexpected costs.

    It might be easier for your family if your wife works as well. She doesn't need to work full-time, if you are working about your child's upbringing. There are also some jobs that can be done at home.


  7. #7

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    Quote Originally Posted by gilleshk:
    I bought at least 500USD worth of outdoor clothes for a little over 100USD(Arcteryx, Moonstone, North Face and Descente which are fairly expensive retail).
    WHERE! Do tell!

  8. #8

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    nestutor: the award for the most patronising post of the month.


  9. #9

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    Actually if you have never been to HK, a number of the pieces of info in nestutor's thread would probably have been quite helpful. I don't think it was patronising and it's a pretty unfair comment given that he clearly gave the post some thought. Nobody else, for example, had thought to mention tax or MPF payments.

    Last edited by MovingIn07; 19-11-2008 at 01:03 PM.

  10. #10

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    Quote Originally Posted by MovingIn07:
    Actually if you have never been to HK, a number of the pieces of info in nestutor's thread would probably have been quite helpful. I don't think it was patronising and it's a pretty unfair comment given that he clearly gave the post some thought. Nobody else, for example, had thought to mention tax or MPF payments.
    Ok, hand slapped and apologies Nestutor. Just sounded to me like an old granny telling me off. "you wasteful boy". Perhaps too near to home

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