Budgeting Advice for Moving from the UK to Singapore

Transitioning from the UK to Singapore involves navigating a different cost of living environment. With the right planning, you can manage your expenses and enjoy your new life in Singapore. Here’s a comprehensive guide based on a monthly income of S$5,000 before tax, which is approximately S$3,675 after tax for an individual.

Overview of Expenses

With S$3,675, you can cover all your basic expenses, but having additional income would be highly beneficial. The biggest expense is typically accommodation, followed by food and general living costs. Let's break down each aspect:

Accommodation

A one-bedroom apartment in Singapore can start at as low as S$2,000, though such affordable options can be hard to come by. For a master bedroom in a three-bedroom apartment, you can expect to pay around S$1,500. A common room might cost you just S$1,000 or less. My friend’s current rent is S$650, although this is in a very old HDB flat that is far from public transportation. Shopping around for an apartment in the city center or busier areas might help you find a more affordable option.

Food and Dining

Living costs in Singapore can vary widely depending on your food choices. Eating at a hawker center can cost you around S$20 per day, which works out to roughly S$600 per month. If you opt to eat out in shopping malls, your daily food budget could increase to S$20 per person or more. Dining at a fancy restaurant is significantly more expensive, with individual meals easily exceeding S$100. If you're able to cook your own meals, the cost can drop drastically to around S$20–30 per person per week. Avoiding nightlife and alcohol can also save a considerable amount of money.

Transportation

Public transportation in Singapore is reliable and cost-effective. Trains and buses are cheap and cover most areas of the city. While taxis and ride-hailing services like Uber are available, they are more expensive and should be used sparingly. Clearly, using public transportation as your main mode of transport can significantly reduce your monthly costs.

Is S$5,000 Gross per Month Enough for a Married Couple?

Prioritizing savings and minimizing expenses can make the difference for a married couple moving to Singapore. Here’s how the above budget can be adapted:

Accommodation Expenses for a Couple

For two people, the accommodation costs could increase. A one-bedroom apartment might cost S$2,500 to S$3,000, and a master bedroom in a three-bedroom apartment could be around S$2,000. A common room might still cost around S$1,000. With these costs, your budget is more strained, but not entirely unmanageable.

Food and Dining for a Couple

Your food budget might double if each person eats out as much as they did independently. Dining in hawker centers can still keep your costs down, with a combined daily budget of around S$40 or more for both individuals. Dining in shopping malls could result in S$60 or more per day for a couple, and dining at fancy restaurants could easily exceed S$200 per person.

General Tips for Couples

To manage costs, both partners should cook more often, use public transportation, and avoid expensive activities like dining at fancy restaurants or nightlife. Shopping for food and necessities in supermarkets can also save money. It’s crucial to plan your expenses carefully and prioritize needs over wants.

With the right cost-saving measures and a detailed budget plan, moving from the UK to Singapore can be both affordable and enjoyable. Whether you’re single or a couple, understanding the cost of living in Singapore and planning accordingly can make the transition smoother and more comfortable.