How much would a 2bedroom fully furnished condo cost on rent in Singapore? Can I get something good in SgD 1300-1500 a month? Can a family of 2 adults +1 infant live on about SgD 500 monthly for food (vegetarian, home cooking)? On a monthly salary of SgD 5000 post tax, can I save 2000 per month? A detailed response to my queries will be highly appreciated. Thank you.
Personal Finance - 2 Answers
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1 :
do you know why there so many maids in Singapore ? cos both parents have to go out working in order to save $2000
2 :
I am an expat living in Singapore, so I speak from my foreign point of view. Singapore companies do not really pay well, the foreign companies do. So see where you are going to work. For an average Singaporean family the men makes SGD 2800/month, the wife makes SGD 1000/month (yes, is a machismo is strong here towards women making money). The whole family can save around SGD800/month. Expats save much more because the housing and school is normally included in the contract, the 2 most expensive things here in S'pore. A 1-room apartment in a condo @ south area is about SGD2000, 2-room costs SGD2500. Near by Novena, Orchard road, raffles place you can add more SGD 500-700 to the costs. The rent contracts are minimum 1 year. If you go to more distant areas (ang mo kio, bukit batok, bukit timah etc) you can find 3-room apartments for SGD 2000. Just make sure to stay near the MRT lines. Excellent location for families with kids. if you like to exercise, a gym costs around 1000/month. Groceries: For a family like yours, I would recommend at least SGD1000, specially because of your kid. Home cooking is expensive, in Singapore you save money eating out, that's very cheap; but be careful, the food can be very oily and not so healthy (they love to put lots of MSG in the food) Schools are expensive here. I do not have kids but ealisy can be SDG 1000 if private schools. Very good teaching thou. If you do not need a car here, you are still safe. Public transport is very good. Taxis are very cheap. Internet access + cable tv is about 150 per month. With SGD5000 and a family of 3, you still can save up to 2000, but the whole family has to work on it to make it happen; so forget about shopping at orchard road, vivo city etc. Chances will really increase if your wife gets a job. I hope it helps.
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