Feedback needed for salary and living costs

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Feedback needed for salary and living costs


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Old 28th November 2016, 10:28 AM
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Default Feedback needed for salary and living costs

Hi all, I am an IT consultant with 8years of experience. I am married and I have 2 sons (4 years old and 5 months). I got an offer with 27k base salary+ 5k allowence+ 13k yearly travel allowance paid upfront+ yearly performance bonus and health ins?rance voberin me and my family. One time payment of 36k for relocation allowence(10k$). My assumption is I will pay 140k for a 2br in jbr or marina, 60k for the school of the elder, 20k for the maid per year. Average utulities will cost 3k per month (bills, internet, tv), grocery and shopping will take 6k per month. With this calcution I will be able to save at least 80k per year if I also take holidays into consideration. After living 6-7 months I will reconsider buying or renting a car as well. Do u think these numbers are valid and realistic? Happy to get your feedback and tnx a lot.

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Old 28th November 2016, 10:41 AM
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I would like to know from you first, what brings you to think that these couldn't be real and valid, don't you have any valid offer letter for the job or haven't seen the contract? I have seen and read so many post in this forum with the same issue.

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Old 28th November 2016, 11:03 AM
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Hi - Looks like a decent offer to me, and your spending calculations are about right. For a family of four you will be able to live well and save money, so long as you avoid spending too much on luxuries and long boozy brunches.

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Old 28th November 2016, 11:08 AM
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Hi,
My question is more on the living costs. I have an offer letter and these numbers are on my offer letter. I've seen so many posts and comments saying that even average 50k is not enough for a couple to live:/
As far as I see, the numbers that I shared are for living is valid but I wanted to double check from others as well

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Old 28th November 2016, 01:15 PM
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Have you tried asking in the huge thread which is all about salary costs and job offers or is that too easy ?

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Old 28th November 2016, 01:50 PM
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Quote:
Originally Posted by twowheelsgood View Post
Have you tried asking in the huge thread which is all about salary costs and job offers or is that too easy ?
Yes I had asked there before poating thia, but it seems that people check the latest posts more frequent, that's why I wanted to ask here as well. Noone replied there but, I got at least 1 feedback here...

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Old 28th November 2016, 02:14 PM
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Cash flow is often more of an issue than a straight calculation of income versus outgoing - better to work out a plan over 12 months and factor in when various payments and bills are due, unless you have existing savings you may well need to cover shortfall from time to time and that can cost a bit or be difficult to manage in the months after arriving.

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Old 28th November 2016, 03:02 PM
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Quote:
Originally Posted by Racing_Goats View Post
Cash flow is often more of an issue than a straight calculation of income versus outgoing - better to work out a plan over 12 months and factor in when various payments and bills are due, unless you have existing savings you may well need to cover shortfall from time to time and that can cost a bit or be difficult to manage in the months after arriving.
Thanks a lot, it makes sense that I need to think the bulk payments such as rent and kids' school but I have some savings to cover that for the beginning. If I can handle the first year and start saving the coming years will be easier to handle. Again tnx for the heads up about cash flow

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Old 28th November 2016, 06:17 PM
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Grocery and shopping 6K per month. I don't think so.

I'd say 6K only for grocery. I assumed roughly based on your selection of housing and school tuition fees. I believe you can save 40K at best.

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