Location: Mississuauga, Brampton
Posted on: 11-05-06 10:54:07
Hello All,
How much one family (both are working) could save in Canada after all monthly and yearly expenses such as tax, rent or mortgage, car related expenses, child expenses, cottage expenses, etc………
Saving is based on so many factors like salary, life style, ………….after all those factors …..End of the year what is the number achieved by the family.
I am not doing any economic survey, just to understand what we have achieved in the savings front.
I welcome the CD member to discuss about savings and saving potential
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mag
Location: God's own country
Posted on: 11-05-06 11:05:38
Your topic is vauge.
How can we discuss anything when income, no. of family members and life style has not been given.
Search the charcha. There are tons of info. by well to do CD's and the not so well to do CD's.
TK
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I am a Gents and not a Ladies.
Location: Western Hemisphere
Posted on: 11-05-06 12:50:21
What's a cottage expense?
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Dimple2001
Nothing, Nada, Zero.
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You know you are a desi when ........ You spew forth the virtues of India, but don't want to live there...............You've never had a tanning salon membership
Location: Mississuauga, Brampton
Posted on: 11-05-06 13:38:15
Hi Dimple
It is basically a vaction pay expenses.............It could be in any cottages.............
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mag
Location: Western Hemisphere
Posted on: 11-05-06 13:56:09
Quote:
Originally posted by Magcanada
Hi Dimple
It is basically a vaction pay expenses.............It could be in any cottages.............
Thanks for the clarification.
As to your question as to how much can you save, it is very difficult to answer. Depending on how you choose to live and your affordability, you could save nothing or something. So, here's my perspective and I will let the discussion grow in the proper direction.
My savings strategy has been to establish a certain percentage of after-tax income as the monthly savings goal. With that goal, I have worked to see how I can achieve it by cutting expenses or whatever. Except during tax season where I end up somehow with more expenses, I have been able to manage to reach my goal.
Remember, as someone else mentioned in some other thread, even a regular sum of money as little as $25 to $50 (per month) invested in a mutual fund is a healthy savings habit.
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Dimple2001
