$160,000 a month and still struggling? Fintech worker sparks debate on middle-class anxiety

A fintech worker who earns HK$80,000 a month, with his wife bringing their combined income to HK$160,000, says he still feels like a beggar, sparking debate over money management and middle-class anxiety.

A poster recently shared the plight of his friend, who works in the fintech sector in Central, Hong Kong’s financial hub. The friend earns HK$80,000 a month, while his combined household income with his wife reaches HK$160,000. Despite this, he describes his financial situation as “like a beggar.”

The friend shared a detailed breakdown of his monthly expenses with the poster, showing how the HK$160,000 is spent. “Their monthly mortgage payment for a two-bedroom apartment on Hong Kong Island is HK$50,000; household expenses for both parents amount to HK$30,000; their son’s international kindergarten and extracurricular activities cost HK$30,000; and car payments and related expenses for two vehicles total HK$20,000,” the poster wrote.

The four core items total HK$130,000 per month, leaving little after taxes, the poster added.

“I don’t even dare to fall sick,” the friend told the poster. If I lose my job and cash flow stops for three months, my family will go bankrupt immediately.”

The post drew a wide range of responses. Some netizens empathized, sharing similar experiences of living from paycheck to paycheck under the burden of mortgages and family.

Yet many others criticized the couple for overconsumption and poor financial planning. Commenters pointed out that no one forced them to buy an expensive apartment, allocate such a large sum to household expenses, enroll their child in an international school, or own two cars in Hong Kong.

Some netizens said the couple had fallen into what they called a “middle-class trap,” a socially prescribed script of success that drives people to take on high fixed costs out of comparison and a desire for status labels.

The poster echoed these sentiments. “The socially constructed ‘template for success’ is deeply ingrained,” he wrote. “Not following it makes you feel like an outcast. By the time you realize the burden is too heavy, it’s already hard to pull your foot out.”

𝗗𝗼𝘄𝗻𝗹𝗼𝗮𝗱 𝗧𝗵𝗲 𝗦𝘁𝗮𝗻𝗱𝗮𝗿𝗱 𝗔𝗽𝗽 ↓