Cost of living in Singapore is high too
2k - Car - loan installment, petrol, servicing
1k - maid
2k - overseas holiday twice to europe or US, 12k each
2k - gocery to feed 3 kids, wife, maid and dog
2k - kids enrichment classes and pocket money ( primary+secondary schooling)
1k - utilities, tel, internet subscription
1k - condo maintainance/sinking funds fees and ah-hoc house maintainance
2k - my wife pocket money ( wife not working)
1k - my own pocket money
3k - credit card bills ( dining out, buy clothes, buy gifts)
3k - income tax
1k - insurance
As you see, although earning 350k a year, i spend $250k per year, and can save $100k. My
cpf is servicing a small mortgage loan left 350k. I dont have country club membership and my wife doesnt buy LV bags, so we are not living in super luxury lifestyle.
I check with my peers and their monthly spending is at least 10k for a family, so cost of living in Singapore is super high.