6.2k not enough for two?

[singapore2010]

I came to Singapore at age 25 earning 5K a month in 2005. The money was more than enough for a bachelor sharing a 5 room HDB apt with 2 other bachelor friends whom I knew from India. I always had enough to go out for parties at CQ, trips with friends, the odd date now and then(unfortunately few and far between) and yet save 2.5 k a month. Of course rent and cost of living were low.
Difference between my life in India and Singapore, were that I had more money to spend, but in India at 25% of the salary I could afford to get someone to cook for me, someone else to clean the house and do the laundry and a third person to wash my car once a week.

Fast forward to 2011, I make just under 6.2k. I'm married and my wife is unemployed. I am still renting an HDB, but the smallest possible configuration.

Taking a PR was the biggest mistake. Company reduced my salary by the amount they need to contribute. On top of that employee contribution from my salary.

Now I barely save 1K a month, that too by penny pinching to an extraordinary degree. Barely going out. Travel only by bus/MRT. No cabs for personal purposes. Eating out means at the food court. Only 1 trip a year and that too back home to visit our parents.

My college friends in India (in the IT industry) earn roughly around 3.5k to 4k in SGD terms. They live in posh apartments which they own(still have to pay the mortgage). Have servants, can afford to take vacations to places like Phuket, Bali, Egypt, Dubai and are basically enjoying life.
So my new year resolution is to leave Singapore by the middle of this year and try to get a job in India to chase the Indian dream. My singapore dream has turned sour in the last 3 years.

So the point was.... 5.5 K is not enough for an Indian family living an upper middle class life in India. 3K SGD will go a long way in India. Its only just above penury in singapore.

copied from:
ExpatSingapore - Is 5500 SGD per month good enough for me?

Originally Posted by singapore2010

copied from:
ExpatSingapore - Is 5500 SGD per month good enough for me?

He was ahead in 2005.

Now that India has caught up, he wants to return.

Both Singapore and India like opportunists like him - talented, savvy, intelligent, greedy, exploitative, never loyal, always on the lookout for new ways to make more money, never loyal, always feel taken advantage of but never the other way, never loyal, always comparing, always feel shortchanged, always feel the world owes him a living, never integrated, will never bat an eyelid quitting a country, never loyal.

Originally Posted by Unregistered

He was ahead in 2005.

Now that India has caught up, he wants to return.

Both Singapore and India like opportunists like him - talented, savvy, intelligent, greedy, exploitative, never loyal, always on the lookout for new ways to make more money, never loyal, always feel taken advantage of but never the other way, never loyal, always comparing, always feel shortchanged, always feel the world owes him a living, never integrated, will never bat an eyelid quitting a country, never loyal.

We love him. Sg govt loves such savvy people. In comparison the sg citizens are so unsavvy.

In the current economic climate, he should buy his flat, not rent. Then he would be able to pay mortgage with his CPF instead of all from cash.

If he had bought a 3 or 4 room flat, even with his wife not working, I think he will find his salary adequate to afford trips to Phuket, Bali etc. If he so wanted, he can also hire a maid at $300 + maid levy.

So with better planning, I think he can live almost the same lifestyle as his friends back home.

Starting with 5k in 2005 and after staying for 5 years, he should have bought a flat considering he is a PR now. I guess he did not and almost no one foresaw the kind of price rise in Singapore.

In the current situation, 6.2k is clearly not a long term solution. However, many people with similar profiles either saved money, bought a house or migrated to Australia. If he cant do any of three, yes, in that case, India is a better option.

Originally Posted by Unregistered

Starting with 5k in 2005 and after staying for 5 years, he should have bought a flat considering he is a PR now. I guess he did not and almost no one foresaw the kind of price rise in Singapore.

In the current situation, 6.2k is clearly not a long term solution. However, many people with similar profiles either saved money, bought a house or migrated to Australia. If he cant do any of three, yes, in that case, India is a better option.

he's a quitter, going-to-be a double quitter.

who cares. if quitting gets him rich, i don't think he cares. i don't care either.

As a native Singaporean, I too want to hop on the India bandwagon! Even though I do not know Tamil, I am learning from my India Indian colleague now.

good bye bye

gd for us 1 less indian FT contributing to the smelly mrt

take ur friends with u pls