Savings in Singapore as compared in India

Last activity 05 July 2012 by beppi

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paggiMember02 July 2010 06:41:56

Hi,

I have been considering an offer from one of the bank in singapore, the salary range would be 5200 - 5500 SGD per month, Me, My wife and one new born kid will be moving there, I have got another offer for Chennai (India) and the salary offered is 75000 INR per month, and i can save around 50000 per month easily, if i compare these two offers and assume i'll spend 3300 SGD per month and remains 1900 SGD, My saving there would be of 1900 SGD, that's in INR comes around 62700 (considering 1SGD = 33.00 INR), Now i'll visit india twice with my family to see my parents, it'll cost me, which is negligible if i'm working in India.

Now, I want to know is it worth going there with this salary?

Thanks in Advance.

Deepak

koekNew member05 July 2012 04:18:04

hi, i still feel that having a savings plan is a much secure thing compare to india. And the interest rate are rather stable and less risky.. So i suggest you to start saving in a right savings plan in Singapore.. [Moderated]

beppiGermany - Singapore Expert05 July 2012 12:21:39

15296

It would be very difficult to live in Singapore on S$3300/month as a family.
Search this and other forums or webpages for the cost of living in Singapore!
Rent alone is at least S$2000/month (if you find a cheap place) or can be above S$5000 if you want some luxury. Depending on your lifestyle, you'll have to add S$600-2000 per person each month (incl. kid, as baby stuff is expensive). The lower end requires being flexible, o.k. with local food and eating at the cheapest places (cooking yourself costs more!), and allows no luxuries like occasional taxi, beer or switching on the aircon at night.
From a purely financial standpoint, you're probably better of in India. But if you want to experience the world, you have to leave your comfort zone!

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