Spot on.
I think you underquoted on the car though
..... and you forgot to mention costs for the Harley, flightie girlfriend on the side, dogs + vet bills, golf games once a week, whisky nights at Auld Alliance.....
Originally Posted by
burnable gomi
I can’t imagine $7000/month being anywhere close to enough.
International schools: $30-40,000/year per kid. So 2 kids is about $6,000/month.
Housing: a townhouse or nice apartment with facilities for a family will run you $6,000+/month. Sure you could rent a 3 bed HDB for $2500-3000 but if you’re planning on moving your family for the long term do you really want to be seeking out the cheapest accommodation you can find all the time?
Car: Singapore is probably the most expensive car market in the world. Just the license to own a car will run you $50,000+. And that’s only a 10year license. You still need to buy the car, which is also expensive. $150,000 for a modest family car and 10year license. So that’s another $1250/month.
So far we have $13,250/month and you haven’t paid any bills, bought any food, insured or put gas in your car, signed your kids up for any after school activities, taken any holidays. Etc....
On an SQ captain salary ($20-22,000/month) a family of four could live a decent life but wouldn’t be saving anything. As an FO, forget it.