Ask HN: How much do you save in Hong Kong with 100 HKD monthly salary?
3 comments
"30k to 75k" looks like one can save more in HK, as compared to San Francisco with similar income.
quite possibly. Taxes and median salary are lower in HK than the Bay area. What's expensive in HK is housing and Western food, but probably not more so than in the bay. You can spend as much as in the bay, but you can spend much less.
100k HKD is 13k USD. As the max salary tax is about 16%, you'll have about 84k HKD/month net (minus minor contributions to the mandatory retirement fund). Your savings then depend largely on two things:
1. your accommodation. Housing is very expensive in HK. You can live frugally on about 10k HKD a month in a tiny flat, or you can spend 60k HKD a month on a 4-bedroom flat in the midlevels (forget about a house).
2. lifestyle/food. One can live and eat very cheaply in HK (25 HKD BigMac meal, and even cheaper noodles), or rather expensively (and add a 10k HKD vodka bottle in the club).
Given that the median household (!) income is 20-25k HKD/month, and, say, 60k HKD/month is considered a good income, and a live-in maid earns about 5k HKD/month, you should be able to put aside 20k to 50k HKD a month, depending on your lifestyle (or 30k to 75k USD a year).