Rock Bottom?
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Join Date: Feb 2005
Location: Adelaide
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Rock Bottom?
Been with the company 3-4 years, no by-pass! Bought a flat 600-700sqft and renovated on a loan 2years ago just to make it livable. Smallish loan 180k over three years. Just assesed this coming years Tax Bill. To save Tax for this years bill in Janaury we will have to live on a salary (in the hand) of 24K HKD a month, family with three kids. And this is on B-Scale. Surely conditions have to improve from here. 
Number of that truck driving school anyone?
Number of that truck driving school anyone?
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So, your loans and mortgage go some 20k over your housing allowance?
From what you've said, it sounds no different to anyone else who has a good salary spanking it all on a mortgage.. Such is life.
I do hope your upgrade comes soon, and the attributable increase in pay. I'm sure the short term sacrifice will turn out to be worth it.
Far too many of us make the same commitments. It doesn't, however, negate the need to take responsibility for living within your means. We all know that housing in HK is annoyingly expensive, but it's not something you can disregard when setting the bar for your repayments.
I had a long chat recently with a good friend who's a third year local SO feeding a family of 4, who lives in a nice place (granted, 25 minutes from central) with an amortization payment of 22000 a month. He has upwards of 20k a month left over after tax savings and the mortgage. This is on his basic + HKPA, and is in addition to HDP or anything else, which would suggest you've bought in to an extravagantly priced place. I hope it performs well for you.
I understand that you're money doesn't go far on property in HK, but what can you do? I presume your place is very nicely located? Everything's a trade-off. By the same token, a family member of mine is a young doctor in NYC - has a gross of US11k a month, has a maximum determined budget for rent, and consequently lives further out of town, in order to get somewhere decent for her budget.
I fail to see the issue? What most people on this forum seem to possess, is a sense of self-entitlement; that we shouldn't be subject to normal economic laws and practice, seen across all industries in large cities around the globe.
Sorry, but a lawyer in London, during the first decade of his career at least, has the choice of a ****box in the middle of it all, or a decent place outside. An accountant in London, the same, a Dr in Manhattan the same. An architect in Singapore, ditto. Why should a junior CX pilot have the God-given right live in a lovely place, and have that place be in the centre of everything?
If tax savings are having too big an impact, move over to the sand. Tax-free lifestyle? Free accommodation? How luxurious! Just be sure not to look at anyone the wrong way, or give anyone the impression that you and your wife are happy together.
Let's get real, folks. There's a key reason HK is so expensive - people want to live there, and people want to do business there. If you want a nice big house, and not pay through the nose for it, might I suggest Burkina Faso?
From what you've said, it sounds no different to anyone else who has a good salary spanking it all on a mortgage.. Such is life.
I do hope your upgrade comes soon, and the attributable increase in pay. I'm sure the short term sacrifice will turn out to be worth it.
Far too many of us make the same commitments. It doesn't, however, negate the need to take responsibility for living within your means. We all know that housing in HK is annoyingly expensive, but it's not something you can disregard when setting the bar for your repayments.
I had a long chat recently with a good friend who's a third year local SO feeding a family of 4, who lives in a nice place (granted, 25 minutes from central) with an amortization payment of 22000 a month. He has upwards of 20k a month left over after tax savings and the mortgage. This is on his basic + HKPA, and is in addition to HDP or anything else, which would suggest you've bought in to an extravagantly priced place. I hope it performs well for you.
I understand that you're money doesn't go far on property in HK, but what can you do? I presume your place is very nicely located? Everything's a trade-off. By the same token, a family member of mine is a young doctor in NYC - has a gross of US11k a month, has a maximum determined budget for rent, and consequently lives further out of town, in order to get somewhere decent for her budget.
I fail to see the issue? What most people on this forum seem to possess, is a sense of self-entitlement; that we shouldn't be subject to normal economic laws and practice, seen across all industries in large cities around the globe.
Sorry, but a lawyer in London, during the first decade of his career at least, has the choice of a ****box in the middle of it all, or a decent place outside. An accountant in London, the same, a Dr in Manhattan the same. An architect in Singapore, ditto. Why should a junior CX pilot have the God-given right live in a lovely place, and have that place be in the centre of everything?
If tax savings are having too big an impact, move over to the sand. Tax-free lifestyle? Free accommodation? How luxurious! Just be sure not to look at anyone the wrong way, or give anyone the impression that you and your wife are happy together.
Let's get real, folks. There's a key reason HK is so expensive - people want to live there, and people want to do business there. If you want a nice big house, and not pay through the nose for it, might I suggest Burkina Faso?
Join Date: Sep 2007
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I don't think people particularly want to live in HK, I think they get sucked in by the illusion of high pay, low tax, give up what turns out to be a decent job in their home country and by the time they work out that honkers is one of the most expensive, polluted s**tholes in the world, it's too late.
Let's face it, if the pay is so good why are so many pilots poisoning their families still after 10,15,20 years ? Surely they would have saved enough to retire and go somewhere healthy ?
Let's face it, if the pay is so good why are so many pilots poisoning their families still after 10,15,20 years ? Surely they would have saved enough to retire and go somewhere healthy ?
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the difference to the lawzer.doctor etc is that manz SFO are actually not very junior anymore.
also you will REALLY hit rock bottom when the interest rate goes up and additionally you are sitting on negative equity or no gain in value of your estate.
lets face it, CX pay is not that good anymore, period.
I would never move my family to HK for that money.
also you will REALLY hit rock bottom when the interest rate goes up and additionally you are sitting on negative equity or no gain in value of your estate.
lets face it, CX pay is not that good anymore, period.
I would never move my family to HK for that money.
Join Date: Jul 1998
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I expect ETOPS that the persons you are talking about in NYC are expatriates and moved there on a promise or at least a reasonable expectation of being paid in accordance with a contract signed in good faith. They have law that would no doubt protect their contract, no? Are they making financial plans on their contract or on the whims of their employers?
I expect they are also remunerated according to the market forces in the cities in which they live and are paid according to their productivity. No chance of course of a partnership and dead mans shoes for promotion.
They would not be able to drive home for the weekend (I assume they have weekends off? Or are they working shifts?) as their families are in different countries, no?
Whats a lawyer in London earning in the second decade?
For what its worth I have some sympathy for your disdain of over extended speculators but for the rest I'm not so sure.
I expect they are also remunerated according to the market forces in the cities in which they live and are paid according to their productivity. No chance of course of a partnership and dead mans shoes for promotion.
They would not be able to drive home for the weekend (I assume they have weekends off? Or are they working shifts?) as their families are in different countries, no?
Whats a lawyer in London earning in the second decade?
For what its worth I have some sympathy for your disdain of over extended speculators but for the rest I'm not so sure.
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So you think that 600 sq ft. is the place to bring your 3 rugrats up in? Are you frickin' mad? Our living room is bigger than that! Step back 3 paces, (if you can) and think what the hell you are doing to your family.
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Cathay cool on plans for its own budget carrier
That would give a whole new meaning to budget accommodation.
Mr Slosar, who replaced Tony Tyler in April, refused to answer questions about whether Cathay was interested in forming a joint venture with Qantas, but said: ''We never say never to anything ... The one thing you never say in this industry is 'never', because things are always changing."
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Peet, you have got an earful here, but don't think Bypass pay is going to help you predicament much, its only another $5000p.m and then you'll only have it for 3 months before you upgrade anyway.
Sorry but i agree with the others regarding your unit. You must have made some capital on it now, so why not sale up. Give yourself a financial injection, and rent something a little bigger. That way you'll improve your lifestyle. and it'll all be roses.
I have no kids but the best thing i ever did was move out to S.K. we have 2100s.f and loving life. I've got my upgrade around the corner, but i don't really want it as I'm loving life out here.
Good Luck with it all.
Sorry but i agree with the others regarding your unit. You must have made some capital on it now, so why not sale up. Give yourself a financial injection, and rent something a little bigger. That way you'll improve your lifestyle. and it'll all be roses.
I have no kids but the best thing i ever did was move out to S.K. we have 2100s.f and loving life. I've got my upgrade around the corner, but i don't really want it as I'm loving life out here.
Good Luck with it all.
