how much percentage of your post tax biweekly income do you save monthly
| Poll:how much percentage of your post tax biweekly income do you save monthly | |||
| Choice | Stats | ||
| 0-10% | 36% (10) |    |
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| 10-20% | 4% (1) | |
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| 20-30% | 29% (8) | |
|
| 30-40% | 25% (7) | |
|
| 40-50% | 4% (1) | |
|
| >50% | 4% (1) | |
|
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| Poll:how much percentage of your post tax biweekly income do you save monthly | |||
| Choice | Stats | ||
| 0-10% | 36% (10) | |
|
| 10-20% | 4% (1) | |
|
| 20-30% | 29% (8) | |
|
| 30-40% | 25% (7) | |
|
| 40-50% | 4% (1) | |
|
| >50% | 4% (1) | |
|
Hi,
Just wanted to know how much percentage of your post tax biweekly income do desis save every month.
I am assuming that desis use the 2 extra paychecks (3 times a month, that happens twice a year) for either vacation, or paying down on home etc etc)
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Live and Let Live
Location: God's own country
Posted on: 21-07-08 09:22:53
Hi Chitesh,
This will vary very much as per one's situation. You canot compare the savings of an IT engineer and a Engineer doing labourer work in Canada. The people are too diverse for you to pinpoint a trend.
As for me, I am an Architect doing a draftsman's job and my expenses (Not Savings) are generally (Paycheque - $100) each fortnight. I donot own a home.
Peace
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I am a Gents and not a Ladies.
Location: British Columbia
Posted on: 21-07-08 09:46:20
Quote:
Originally posted by tamilkuravan
Hi Chitesh,
This will vary very much as per one's situation. You canot compare the savings of an IT engineer and a Engineer doing labourer work in Canada. The people are too diverse for you to pinpoint a trend.
As for me, I am an Architect doing a draftsman's job and my expenses (Not Savings) are generally (Paycheque - $100) each fortnight. I donot own a home.
Peace
Not necessarily. It depends on your expenses not just your income. Read "The wealthy barber".
One way that we found has really cut down our expenses is to have only one car. Not the gas guzzling kind either
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~ Morning rain
MR,
In a way you are right but TK has a point. Usually and to the extent of generalising Desi's would have a much lower expense ratio and we tend to save as much as possible. Expenses do matter but our expenses do not increase proportionately with the rise in income levels. This is my observation.
Quote:
Originally posted by morning_rain
Quote:
Originally posted by tamilkuravan
Hi Chitesh,
This will vary very much as per one's situation. You canot compare the savings of an IT engineer and a Engineer doing labourer work in Canada. The people are too diverse for you to pinpoint a trend.
As for me, I am an Architect doing a draftsman's job and my expenses (Not Savings) are generally (Paycheque - $100) each fortnight. I donot own a home.
Peace
Not necessarily. It depends on your expenses not just your income. Read "The wealthy barber".
One way that we found has really cut down our expenses is to have only one car. Not the gas guzzling kind either
Not necessarily. It depends on your expenses not just your income. Read "The wealthy barber".
One way that we found has really cut down our expenses is to have only one car. Not the gas guzzling kind either
Or not to have one at all! I know many CDs would disagree but we have not yet bought a car coz we didn't feel the need. We stay close to shopping malls and Indian stores are stone throw away so is my doc. My kids were infant and toddler so not much of long drives/outings. We used to hire cabs for small outings and thus saved quite a few bucks!
Hubby is happy travelling via subway to work than to drive to exert himself and also pay exhorbitant parking in downtown!
Location: British Columbia
Posted on: 21-07-08 10:40:10
Quote:
Originally posted by Iceberg
MR,
In a way you are right but TK has a point. Usually and to the extent of generalising Desi's would have a much lower expense ratio and we tend to save as much as possible. Expenses do matter but our expenses do not increase proportionately with the rise in income levels. This is my observation.
Well if we are going to generalize, most desis end up having children (usually more than 1) and children are expensive to raise ! Many Desi kids appear to have fancy cars and many people live in huge boxy homes. (at least in BC)
I dont know *how* their expenses can be low??? well - some rent out 2-3 basement suites to pay their mortgages.
again If we are generalizing here - most desis dont seem to travel except back to India and so they dont need to budget for vacations away and all that, or they only go to 'vacation' where they have extended family to go stay with.
so perhaps you are right... but to me there is a quality of life issue here too. I hear of desis that dont bother to maintain their vehicles properly and drive around with dangerous tires.
Also : desis may have to send money back to india to support family. Is that included in his assessment? are expenses total expenses or just those one spends on themselves?
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~ Morning rain
Location: British Columbia
Posted on: 21-07-08 10:42:25
Quote:
Originally posted by HelloG
Or not to have one at all! I know many CDs would disagree but we have not yet bought a car coz we didn't feel the need. We stay close to shopping malls and Indian stores are stone throw away so is my doc. My kids were infant and toddler so not much of long drives/outings. We used to hire cabs for small outings and thus saved quite a few bucks!
Hubby is happy travelling via subway to work than to drive to exert himself and also pay exhorbitant parking in downtown!
Cool
I think its fantastic that your family has managed without a vehicle so long. We find one vehicle to be fine for us..but then there is only 2 of us and my hubby takes public transportation as well !!
I have to have a car for work.
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~ Morning rain
