That's correct - my question was to the original poster. I should've mentioned that.
Anyhow, I am in IT as well and hardly can afford a brand new Car, leave alone Hummer .
Quote:
Originally posted by febpreet
That's correct - my question was to the original poster. I should've mentioned that.
Anyhow, I am in IT as well and hardly can afford a brand new Car, leave alone Hummer .
Well, to be honest I don't care owning or affording the Hummer. Happy wiht whatever I have - as long as I (with family) go from point A to B safely and comfortably.
Anyhow, too many distractions to the original poster's concerns.
My suggestion is to get your wife working (if not now), and try to save her paycheck. Make it with one's paycheck and save the other's. Invest it in the TFSAs. Even if you put in 1000 a month, that translates to $12000 and 5 years $60,000 - considering no emergencies.
Another tip is to get rid of credit cards if you have more than one. Keep only one for emergencies, and pay it down every month. Try not to use it, if possible. Credit cards are a big showstopper when it comes to savings.
Couple of questions/suggestions:
1. I repeat, what's your qualifications and profession?
2. Do you own home? Does it have basement and if it's rented?
3. Does your spouse work?
4. Do you buy cars new or used? Leased/Financed? Try buying used cars (3-4 years old). They run as good as new and with half the price.
5. Buy/Shop online and try to find the bargains there before venturing out to the stores. Especially, when it comes to the Electronics and non-perishable household stuff.
Also, one thing I learnt in my life thus far. Unless you're born Rich or have an outstanding qualities to make a fortune, you will always be middle class/income - whether in India or Canada. Challenges remain the same, i.e. to feed the family well, (try to) enjoy a good lifestyle, and save for the future. I am yet to figure out myself how to make ample money and pay down my mortgage before I hit 50. It is a mutual/shared challenge that we all middle income people face, regardless of where we live.
There's no magic wand, unfortunately.
Quote:
Originally posted by febpreet
My suggestion is to get your wife working.
then .... she gets her husband or straight working
Buy Lotto Max or 649, you never know... every time i see some one win in GTA and see the ads in TV, could not stop myself buying :-)
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MK
Quote:
Originally posted by Delhite
The guy who finished my basement, is around 45 yrs old, and living in a 600K paid off house. His next door neighbor is a Honda Technician. The gas technician who connected the fireplace in my basement, came in Hummer.
This is the reason that I suggest the new immigrants to keep their ego asides and get into any grey collar job, if you can.
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