Job Discussion Forums

[rayman]

I'm curious as to how much you spend as a monthly budget in Hong Kong. In turn, how much are you able to save?

If one was working on the NET scheme and earning HKD32 000/month, could you save HKD15 000/month with relative comfort? Given that you weren't prone to partying or retail.

[Horizontal Hero]

Should be no problem. Some NETS jet off to other countries three or four times a year, and thus blow masses of cash. I met one NET who was bringing in around 60 000 a month, and said he spent it all every month. The Wan Chai Chicks just loved him.

Rent varies from location to location, but even if you are working on the island, you should be able to get something well under 10 000 in Kowloon - or even on the island (if you like shoeboxes). If you live in the New Territories you can find places for 5000 or less, esp. village houses, if that takes your fancy.

[erike]

It really depends... if you have kids and need to send them to school good luck trying to pay tuition on a T's salary. ESF (English School's Foundation) schools charge about $80,000 HKD per annum which is more than $10,000 USD.

Rent in a decent area 1 bedroom 400-500sqft probably $10k or thereabouts... but again if you have a family and need 2 or 3 bedrooms etc... look for at least $15k a month. One warning about trying village houses in the NT, which may be cheaper, you really have to know who you're dealing with because many are old and if you need something repaired it could take time... it's not like in North America or other places where you phone the landlord and whatever is fixed in a day or so...

Also it goes w/o saying the further out you live the longer and more expensive your commute depending on where you work.

[Smoog]

$15k a month saving would be pushing it a tad.

Rents have gone up quite a bit in the last year. You would be looking at $10k at least now for a decent place on HK.
Monthly expenses...mmmm....depends how parsimonious you are. You could live off <$100 a day if you really felt like it. I know, cause I did when I first got here (being totally broke and not starting work for the first 6 weeks - meaning 10 weeks without pay). That does entail coming to love noodle-house food at $10 a bowl though.
I don't go out partying too often, but do eat out regularly, and get by in relative comfort on ~$10k a month for all my living expenses.
Helps having no dependents of course.


If you lived outside HK, you can get cheaper accomodation. I live on Lamma in a 550sq ft flat and am paying a little under $5k. You can find places as low as $3k here. Of course then there's the travelling costs - a monthly ticket is $500. But still much cheaper (and more relaxed) than living in Central.

Over the last year, I've saved about $80k and paid off 60k in debts. I've also been back to NZ, to Tibet, Shanghai and Taiwan (as well as Shenzhen a few times).
So I guess that means ~$12k a month saving. Maybe $16/17k if I hadn't taken any trips. But I would have gone spare if I hadn't gotten out of this place at regular intervals!

[JZer]

[JZer]

[poof]

If you aren't a big spender and can find a cheapish place to live, then you can save 15,000 no problem. I set myself 1000 max a week to spend, which I stick to with a bit of discipline, and then everything else is savings.

[Smoog]