We asked our honest panel of parents whether they feel that Singapore is too expensive, and if they'll considering leaving to save money
We all know that the cost of living in Singapore is high, with the Economist Intelligence Unit rating the country as the most expensive in the world. But with low taxes, good wages and affordable help at our fingertips, does it all balance out and leave us feeling financially better off? Many think so – while others believe that international school fees (see more on those prices here), high rent and costly groceries makes saving cash nigh-on impossible. So the question we had for our brilliantly honest HoneyKids’s Parents Panel this time was…
Do you think that your family would be better off financially back home – and what will the tipping point be when it comes to leaving Singapore?
“We are very conscious of how expensive Singapore is, especially with kids in schools here. We do think about it and compare the alternative – that of moving home almost on a weekly basis.”
Jess Hart, Australian, three kids
“Yes when full time school starts we are considering moving back to Australia.”
Adriana Diaz, Brazilian, one child
“This is one of those things that is always in the back of our heads. We believe that the experience here will pay off both personally and professionally in the future and are willing (trying!) to make the sacrifices necessary to reap those benefits later on.”
Faith Chanda, American, two kids
“Attending international schools will be the tipping point – the cost per child will make Singapore no longer the better option financially.”
Danielle Fredford, Australian, two kids
“If the quality of education at local schools was to decline, and we would be forced to send our children to international schools to get a decent education. That could be a tipping point for a family with 3-4 kids.”
Aruna Rao, Indian, two kids
“I do think it is a juggle: Short term finances versus longer term career potential, and future income and stability. I think everyone acknowledges that jobs are hard to get back home, so it is not always an easy financial comparison to make.”
Carrie Gray, Australian, three kids
“We don’t have a tipping point and it makes no difference. Home for us is where ever we may be as a family.”
Roberta Ciccone, American, five kids
“There will be a tipping point. However we are living in the moment and enjoying this opportunity. We don’t know what the future holds but it doesn’t affect our daily life here.”
Helena Ramsdale, British, one child
“Of course, if my salary level goes below what our typical cost of living would be, then it definitely will be worth considering bringing the kids back home. But so far it has been fairly reasonable, so we’re relatively comfortable. We do tend to cook and eat at home more often; and save going out for special occasions, which helps.”
Maria Athena Catedral Bughao, Filipino, two kids
“We have no tipping point, unless we both lost our jobs at the same time and were both unable to find more work.”
Priscilla Gosh, Australian, two kids
“I don’t know that we would be better off financially, but we won’t be worse off either. The whole pull of the super low tax here is balanced out with cost of living, so the decision to go home will be easier.”
Amy James, Australian, three kids
Are you struggling with working out the cost of international school in Singapore? Our School Selector compares the fees of all the schools here on the island, so you can realistically discover how expensive school in Singapore will be for your child. Head here for me.
*Some of the above names have been changed, as requested by a handful of members in the panel.