I think a combo deal is at work here comparing OKC and Camel numbers.
Firstly, OKC is calculating absolutely everything in his Capt package. Completely all in and keep in mind, he is living very conservatively on that package. Saving over 5k/ month extra on his housing alone. Still very decent for the low cost carrier, however at 850 hours a year, he is paying for it as well...
Camel, I agree with babs, you are not including things such as flying pay, housing ( 13k/month ), kids education, provident fund, free yearly ticket back home etc. I would say you are almost 600k on an F/O package.
I do agree that with kids Dubai is expensive. No doubt. You are likely not saving what you planned, but if you make some good decisions and be somewhat conservative you can still save and not have to live like a hermit. We do need a pay increase for next year however; the costs are rising for everything.