saving 10 lakhs
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Hey Faisal
The countries in the west were never "presented" for immigrants to make money or save a lot of money . These countries offer a good living standard and freedom . Thats all but yes ! you do have to work your ass off to live .Here things are not as cheap as Asian countries. Every body in the family has to work to maintain a good living standard and thus I believe "Coming to canada or US only for money is wrong" . It offers a good living standard and are therfore labelled as rich countries .
These countries are not "Rich" because everybody makes a lot of money and saves a lot of money . They are rich as they have the freedom to do what you want and everybody has a minimum level of standard of living and no body is dying of hunger like the "Developing countries"
Here everybody has a place to live "big or small" , every body has a car " BMW or 1969 honda" , everybody survives , 100K salary or welfare .
These are the thigs that make these countries developed and not how much you can "save here" to send money back to India.
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We will find a way or we will make one
I don't think without compromising with your life style you can save money anywhere in the world as a salaried person and no matter at what
position you are.
you lifestyle will be according to you position.
Making money is a different game, if you think you can become a big shot or very reach man by being a salaried man then you should be one of the driving force in corporate sector.
Cheers
Raj
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A person is never more on trial than in a moment of excessive good fortune.
An average Engineer having 3 - 5 years of expereince (plus an engineer wife ) can rope in UAED 10K plus pm .Cost of living is ad follows :
( 1 car & 2 BR Apartment - 2 adults & 1 kid )
Rent 3000/-
Food 600/-
Petrol 150/-
Insurance 150/-
Outings 300/-
Miscellanous 700/-
TOTAL 5000/-
Balance 5,000/- equv INR 60k is nett saving .Or annually INR 7,20 K Extrapolating it the couple shd earn 10/7.2*1000 = UAED14k which I guess 30pc couples wud be doing . Saving potential is HIGH.
PROS : Career oriented jobs ,Easy life , good Infrastructure ,Tax Free income , Free medicals ,Closer 2 India , cool jobs . 1 feels @ home in the Gulf . PLUS 30 DAYS PAID LEAVE .
CONS : Uncertainity , no citizenship , discrimination , lousy weather & landscape.
Location: in the heart of Mrs Saga
Posted on: 06-06-04 08:31:17
quote]Orginally posted by Smiley
Hey Faisal
The countries in the west were never "presented" for immigrants to make money ....................................... money back to India.
Hey smiley,
Thats just exactly what I was saying in my previous post. I was trying to answer the topic of this discussion (Saving 10 lacs). Canada is somehow designed to live today, and not save money.
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Deal With Reality or Reality Will Deal With You
I would like to rank the top 10 countries which have money saving potential.
This ranking is based on my own experience :
1) UK
2) Hong Kong
3) Switzerland
4) US
5) Luxembourg
6) Netherlands
7) Germany
8) New Zeland
9) Singapore
10) Australia.
Waiting for inputs from guys from gulf.
Cheers
Raj
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A person is never more on trial than in a moment of excessive good fortune.
Quote:
Orginally posted by K.Raj
I would like to rank the top 10 countries which have money saving potential.
This ranking is based on my own experience :
1) UK
2) Hong Kong
3) Switzerland
4) US
5) Luxembourg
6) Netherlands
7) Germany
8) New Zeland
9) Singapore
10) Australia.
Waiting for inputs from guys from gulf.
Cheers
Raj
When you compare anything in various countries, there has to be a base. In this case what do you take as a base? US$, Indian Rupee or a buck to a buck? While US$ and buck would be a good base, Indian Rupee (or home currency) would be good IF and ONLY IF the sole purpose of going to any of the countries mentioned above (or any country for that matter) is to earn and amass wealth to be taken back to India (or whichever country is one's home country).
Interestingly enough, as a general history, a LARGE no of Indians have made fortunes in countries like Nigeria and Kenya, or a few more third world countries, so to say - including our own richest NRI, Mr L N Mittal! Even if you speak about the bigshot in UK, US, they have actually made money (and tons of it) from these countries!
Chandresh
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Chandresh
Advice is free – lessons I charge for!!
Location: Toronto , ontario , ca
Posted on: 06-06-04 23:47:36
Hi All
Let me add to what Chandresh has said and put forward what i wanted from this thread.
I want the saving of 10 lakh in INR and to maintain a decent ( not lavish ;off course definations will vary but a decent standard for a person of that salary should be maintained ) and one should also take into account the tax aspect if you follow this thread we all have come to a common conclusion and logically enough that if both spouses get $ 24 an hour (follow thread for details) then only saving this amount is possible so similarly i wanted similar figures for other countries.
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