# How much are you saving?



## AdamWhitty89 (Jul 8, 2013)

Just out of interest, what percentage of salary are people saving per month?

Obviously everyone's salaries are different and I'm not asking for specific amounts.

Just interested to know! 

I'm on a 5 year plan and have been saving about 40% of my monthly salary since the start of the year!


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## arabianhorse (Nov 13, 2013)

100%. living off passive income


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## vantage (May 10, 2012)

20% of total package value as a base line excluding any bonuses etc.
More when possible.


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## Asimfrombombay (Sep 20, 2013)

I don't save as my salary is less than 15k


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## mariot (Nov 4, 2013)

asimrotana said:


> I don't save as my salary is less than 15k


With that said, it's safe to assume you're living beyond your means, always cut your coat as per your cloth. Many people are saving on much smaller salaries.


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## Chocoholic (Oct 29, 2012)

mariot said:


> With that said, it's safe to assume you're living beyond your means, always cut your coat as per your cloth. Many people are saving on much smaller salaries.


You can't say that as you don't know what a persons situation is. I earn in that area and virtually save nothing, as it's impossible to do so. The majority is chewed up on rent/mortgage payments/bills.


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## ccr (Jun 20, 2010)

AdamWhitty89 said:


> I'm on a 5 year plan and have been saving about 40% of my monthly salary since the start of the year!


Same here.

On the average about 40% of combined take-home (salary + bonus, everything coming in for the year) over the last 18 years.

Some years more, some less, depending on the bonus and spending.


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## TallyHo (Aug 21, 2011)

50-55%


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## Tropicana (Apr 29, 2010)

mariot said:


> With that said, it's safe to assume you're living beyond your means, always cut your coat as per your cloth. Many people are saving on much smaller salaries.


Depends on the person. Some people refuse to go below a particular standard of living even if they are not saving. I know people saving on a 6k salary as they, being a couple share a room with other couples, something that would be against culture/moral/personal values of many others who would agree to save nothing out of 6k and rather have a separate room.


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## EmmaTowner (Nov 19, 2013)

How much is the basic income per month in hospitality ?


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## Mr Rossi (May 16, 2009)

Savings? What quaint lives you all lead.


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## Ladyluxe (Nov 18, 2013)

70% or sometimes 80 ..because I don't drive much, I don't go to any clubs, I don't shop much..
I don't even pay rent. Most of what I spend is for traveling...or indulging.


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## ccr (Jun 20, 2010)

Mr Rossi said:


> Savings? What quaint lives you all lead.


I tried and tried and tried, just don't have enough time and energy to spend it all... 

If you are a Marina Mark, marrying to a Jumeirah Jane, with a few exbrats in tow, driving R8, having champagne brunches weekly, keeping up with the Mohamed's... then have fun... 

I do know people leaving UAE worse off financially than when they arrived.


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## vantage (May 10, 2012)

ccr said:


> I tried and tried and tried, just don't have enough time and energy to spend it all...  If you are a Marina Mark, marrying to a Jumeirah Jane, with a few exbrats in tow, driving R8, having champagne brunches weekly, keeping up with the Mohamed's... then have fun...  I do know people leaving UAE worse off financially than when they arrived.


You've really nailed Rossi there.... Have you met him?!


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## ccr (Jun 20, 2010)

vantage said:


> You've really nailed Rossi there.... Have you met him?!


No.

And I was not describing Mr Rossi  it was a generalized "you"... especially I noticed that he is from Scotland (the country of men with shortest arms in the world)...


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## IzzyBella (Mar 11, 2013)

~ 40%


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## Mr Rossi (May 16, 2009)

ccr said:


> (the country of men with shortest arms in the world)...


Be quiet oaf and for the record, I would never fritter even the salaries here on such vulgar trappings as those mentioned above.

My, the little people and their aspirations. Come to Dubai and think that even if they avoid the baubles and trinkets they will rise above their station.

Amusing. Tiring, but amusing.


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## ccr (Jun 20, 2010)

Mr Rossi said:


> Be quiet oaf and for the record, I would never fritter even the salaries here on such vulgar trappings as those mentioned above.
> 
> My, the little people and their aspirations. Come to Dubai and think that even if they avoid the baubles and trinkets they will rise above their station.
> 
> Amusing. Tiring, but amusing.


Sorry, oaf, I only understand American...


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## vantage (May 10, 2012)

vantage said:


> 20% of total package value as a base line excluding any bonuses etc.
> More when possible.


just worked out the 'cost' of two children....!

Without them, and assuming no change in rent, we'd be at around 45%
it would be a lot less fun, though!


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## pamela0810 (Apr 5, 2010)

I've managed to save about 50% of my sanity in these last 14 years that I've been in Dubai. I think I'm doing pretty good!


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## arabianhorse (Nov 13, 2013)

pamela0810 said:


> I've managed to save about 50% of my sanity in these last 14 years that I've been in Dubai. I think I'm doing pretty good!


Rich and beautiful. Winning combination


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## saraswat (Apr 28, 2012)

I live in RAK ... enough said ... 

70-75% (it's a completely different economy here...)


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## thevillagealchemist (Aug 15, 2013)

Our goal is 50%. We spend the other 50% on food, school expenses (work didn't pay for that!!!), and humble entertainment, cell phone, tv. A lot goes toward food (four people) even though I buy and cook my own food mostly.  
But reality has been, so far, less than 15% because we've had to pay 60% of school tuition up front. (we will pay the other 40% in January) Hopefully, after school is paid for we can get back toward our 50% goal.


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## telecompro (Apr 4, 2013)

nothing at the moment - still in first year of move in dubai. Hoping for 30-40% in the next year...you can never save while u r still making the move over to dubai at the start


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## IzzyBella (Mar 11, 2013)

telecompro said:


> nothing at the moment - still in first year of move in dubai. Hoping for 30-40% in the next year...you can never save while u r still making the move over to dubai at the start


That's a lie. We did. It just depends on your package.


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## arabianhorse (Nov 13, 2013)

IzzyBella said:


> That's a lie. We did. It just depends on your package.


a tad hostile. :fish:


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## IzzyBella (Mar 11, 2013)

Hahaha, what I mean is. We were given the flights, the moving allowance and housing allowance all upfront (with the first pay). Even from then on we managed to save an arbitrary figure (which happens to be 40%ish of the basic package) every month bar last month when we had to pay off about 8 flights and lots of hotel reservations for my holiday last month and our upcoming holiday next month. Even so, this month has been very easy/cheap.


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## Guest (Nov 21, 2013)

IzzyBella said:


> That's a lie. We did. It just depends on your package.


That is not a lie, it is a reality that not everyone has a great package like you or some people.


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## telecompro (Apr 4, 2013)

IzzyBella said:


> That's a lie. We did. It just depends on your package.


Would be interesting to see what kind of monthly salary you get 
I had also benefits on moving over here but still did not manage to save in the first few months


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## telecompro (Apr 4, 2013)

Bare in mind - package wise it is not that bad...but i guess there is little things here and there that consume some extra cash...


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## G knight (Oct 4, 2012)

At least 50% from nxt month


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## IzzyBella (Mar 11, 2013)

telecompro said:


> Would be interesting to see what kind of monthly salary you get
> I had also benefits on moving over here but still did not manage to save in the first few months


Ha! It's not mine! The OH probably doesn't earn as much as you think! Especially when you take into account he's feeding an extra 3 other hungry mouths (me and 2 dogs)!



nathanalgren said:


> That is not a lie, it is a reality that not everyone has a great package like you or some people.


...which is why I said it depends on your package! You just sounded so defeatist! It depends on what your package and mentality is. For example, we didn't buy all our furniture at once (mainly because I'm picky, but it helped spread the spend across 4 months).

Not trying to be difficult, I'm just saying that not everyone is in the same situation. You can save as much or as little as you like depending on your lifestyle. I'll also point out that we don't drink or go out that often. However, we did socialise more at the beginning of the transition then realised that we were living unnaturally so now we're in more of a routine.


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## vantage (May 10, 2012)

this thread isnt actually that helpful, as some people are quoting a % against basic, others against full package, and most not declaring which.

as to saving in the first year, it would be significantly easier without the nippers..!

i was told (on here) that i wouldn't save in the first year. I budgeted on starting to save after about 8 months. it turned out to be exactly a year.


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## colaxs (Nov 26, 2012)

The only thing I've learned here is that people can exist or struggle no matter how much they earn. It depends on the compromises you're willing to make and the priorities you set for yourself.


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## vantage (May 10, 2012)

colaxs said:


> The only thing I've learned here is that people can exist or struggle no matter how much they earn. It depends on the compromises you're willing to make and the priorities you set for yourself.


true. Which is no different to anywhere else in the world, really.
A fool and his money are easily parted.


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## ccr (Jun 20, 2010)

vantage said:


> this thread isnt actually that helpful, as some people are quoting a % against basic, others against full package, and most not declaring which.


Difficult to expect an exact number / method when different people have different lifestyles.

Some will live it up, spend more but might still be able to save more due to good package. Some will be frugal, but might save less due to small package.

Like all things, the best one could hope for is a range. It seems that ~40% is a good mid-point.

I quoted a saving % at the end of the year because I don't put away a fixed amount every month from my paycheck. And my bonus varies from year to year, etc... We spend as we like / need, but don't go out of our way to buy expensive things all the time.

Thus easier to see how much saving (i.e. saving account + investment) against the yearly total income (i.e. salary + bonus).


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## Guest (Nov 21, 2013)

ccr said:


> Thus easier to see how much saving (i.e. saving account + investment) against the yearly total income (i.e. salary + bonus).


Paying existing debt could also be counted as a saving. Like student loan, mortgage etc.


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## ccr (Jun 20, 2010)

nathanalgren said:


> Paying existing debt could also be counted as a saving. Like student loan, mortgage etc.


Definitely.

Slipped my mind, don't have any debt...


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## Byja (Mar 3, 2013)

telecompro said:


> Bare in mind - package wise it is not that bad...but i guess there is little things here and there that consume some extra cash...


...all of which we've warned you about in advance...


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## Guest (Nov 21, 2013)

ccr said:


> Definitely.
> 
> Slipped my mind, don't have any debt...


Lucky you


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## telecompro (Apr 4, 2013)

Byja said:


> ...all of which we've warned you about in advance...


Haha yes and thats why im not complaining and waiting for the year to be over so i can start saving..lol


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## IzzyBella (Mar 11, 2013)

vantage said:


> this thread isnt actually that helpful, as some people are quoting a % against basic, others against full package, and most not declaring which.
> 
> as to saving in the first year, it would be significantly easier *without the nippers..!*
> 
> i was told (on here) that i wouldn't save in the first year. I budgeted on starting to save after about 8 months. it turned out to be exactly a year.


I totally misread that and was about to say "I feel thoroughly chastised; sorry, dad!" Ha, now I realise my mistake.

Yes, we're very fortunate to not have/want children as I think all our savings would be non-existent!


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## ccr (Jun 20, 2010)

nathanalgren said:


> Lucky you


Not really, already paid my dues...


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## Robbo5265 (Oct 23, 2012)

AdamWhitty89 said:


> Just out of interest, what percentage of salary are people saving per month? Obviously everyone's salaries are different and I'm not asking for specific amounts. Just interested to know! I'm on a 5 year plan and have been saving about 40% of my monthly salary since the start of the year!


something similar but also another 22k AED a year just by moving into an apart hotel and saving on DEWA, Cooling and Du!


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## JonGard (Aug 18, 2013)

Not had opportunity to in the first 18months or so I've been here, as I came over pretty much penniless and in debt. I've slowly been making in-roads to that, very satisfying it is too! Every month I've managed to clear some debt and gain some creature comforts, even having my first holiday in years.

I don't go nuts on brunches, don't have a car (use company bus to work) and live pretty frugally.

Next year will see trips to see my family & my fiance's before we get married, so that'll take a big chunk out of what we could save.

This time next year, I'm hoping for at least 20% per month 

As an aside, I find this a fascinating thread. I'm astounded at people I meet living beyond their means, trying to live 'the expat life' (whatever that is).


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## msbettyboopdxb (Mar 22, 2009)

About 35%. When I'm done being the bank's bi****h in January, it's moving up to roughly 60%.


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## fth (Nov 20, 2013)

%20-%30


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## nicegalmemi (Nov 17, 2013)

I will cut this short, my rent + car loan + personal loan wouldn't let me save any..It's killing me because I know I'm going to be in a big sh** when I leave my current job


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## pamela0810 (Apr 5, 2010)

nicegalmemi said:


> I will cut this short, my rent + car loan + personal loan wouldn't let me save any..It's killing me because I know I'm going to be in a big sh** when I leave my current job


Why would you leave your job if you have all these bills to pay? I'd be clinging to even the crappiest job I had so that I do not end up in jail for bounced cheques.


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## msbettyboopdxb (Mar 22, 2009)

nicegalmemi said:


> I will cut this short, my rent + car loan + personal loan wouldn't let me save any..It's killing me because I know I'm going to be in a big sh** when I leave my current job


 I wouldn't advice leaving your current job with so many commitments. My current job makes me want to murder myself at least twice a week but it pays the bills so I find a way to drag myself out of bed everyday and get myself there till I figure out something more satisfying. Hang in there!


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## Alina B (Aug 21, 2009)

First year - practically nothing, my salary was a bit lower and I left US of A with about $17k in debt and had to help out my mom back home as the economy tanked, so I had to cut down on everything when I first arrived and stay with friends. However, after 9 months I was debt-free (at least in the US)! I was able to move into a one bedroom apt on my own and finance a brand-new the car, which initially was supposed to be split with my ex-fiance, who chose to disappear a few months later and leave me with rent and car payments. So the second year was not that good for savings either, but I got promoted and still managed to put away about 20%. In the 3rd year, I moved into a cheaper apartment closer to work, paid off the car and I saved about 35%. (YAY!) Now that I've been here for almost 4 years and more or less settled, I'm hoping to put away between 45% and 50% annually. I don't live an extravagant life, I don't spend days at the spa and I am not crazy about brands and boutiques, like some of the people I know. My apartment is not fancy and I have bought most of the furniture and appliances from dubizzle. I do splurge and spoil myself every now and then, and I have been taking 3-4 international vacation trips annually since I moved here. My total package is barely breaking 20k per month.
Life in the UAE is different from any other part of the world - we're surrounded by luxury and glitz, and so many people fall into the trap. However, for the vast majority of expats - time is limited, so shouldn't we make the best out of it?! I guess for a lot of people "making the best" means living in the moment, but for me it means having a secure future. The time couldn't be better - no family or kids and I'm still in my 20's  (although for not much longer  ). 
Everyone's path is different, everyone has their own obligations, however there are always some loose ends that can be cut. I believe that small changes can make a big difference in the long term, and I also believe that we have to pay ourselves first. I have never expected anyone else to take of me and I don't expect anyone to do that in the future. I can only rely on my own. 
I realize this is a much longer answer than you expected and I am sorry if I bored you with it.


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## Beamrider (May 18, 2012)

Alina,

this was an insightful post and interesting to read. Nothing to be sorry about.


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## Beamrider (May 18, 2012)

BTW, I usually manage to save every month about 60% of my net salary (I have a housing and health insurance allowance, plus some car expenses paid).

I lead a relatively quiet life.


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## arabianhorse (Nov 13, 2013)

Alina B
Nice!!
A maturity beyond your years!
One day you will reap in droves the sacrifices that you sow.
Good luck although I know you don't need it


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## Harryjones (Nov 22, 2013)

Saving more than 60% of the income would be fine. I save it for a risk free life in future. It is necessary that we save maximum possible.


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## ccr (Jun 20, 2010)

Harryjones said:


> ...for a risk free life in future...


What does a "risk free life in future" mean in your opinion ? 

Does it include sitting in your rocking chair counting your gold bars thinking about all of the things that you did NOT do when you were young ? 

I know it is a personal goal topic, but who knows what tomorrow brings. Or when you will be dead with a big bank account...

Personally, for me, life should be a balance of living-now and living-later.


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## pamela0810 (Apr 5, 2010)

Harryjones said:


> Saving more than 60% of the income would be fine. I save it for a risk free life in future. It is necessary that we save maximum possible.


My dad worked in Kuwait for 22 years and saved enough money to be by India's standards a "millionaire" when he retired. He lost his wife (my mum) to cancer at the age of 60, remarried at 64, got a stroke soon after and died before he turned 67. The last 7 years of his life (the years he was supposed to be enjoying a nice comfortable retirement) were filled with sickness and misery.

There is no such thing as a "future". You will only know your future once it becomes the present.

Sorry, I have to add.....nothing more annoying than the typical Indian mentality of saving as much as you can right now so that you can live comfortably back home when you're too old to enjoy anything.


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## Byja (Mar 3, 2013)

pamela0810 said:


> Sorry, I have to add.....nothing more annoying than the typical Indian mentality of saving as much as you can right now so that you can live comfortably back home when you're too old to enjoy anything.


Well, the expression goes "saving for the rainy days", not "saving for the bingo afternoons".

You should save not only for retirement, but also for the, Vishnu forbid, events like accidents, severe illnesses, losing a job, kids graduating to be engineers or your hometown hosting an Expo.


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## msbettyboopdxb (Mar 22, 2009)

Harryjones said:


> Saving more than 60% of the income would be fine. I save it for a risk free life in future. It is necessary that we save maximum possible.


You should check out mr money mustache. He retired at 30.


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## Canuck_Sens (Nov 16, 2010)

ccr said:


> I know it is a personal goal topic, but who knows what tomorrow brings. Or when you will be dead with a big bank account...
> 
> Personally, for me, life should be a balance of living-now and living-later.


It all depends....people are different. We tend to change our habits as we "make more" and then the "balance" moves.... what's a balanced approach to you may not be for others...may be someone saves 90% of his income cuz with just 10% he can do everything that he likes (things that are connected with money) or perhaps he is already pretty satisfied with the things he has...who knows

Have a look at that teacher in the US who passed away recently making news. She lived in a pretty simple manner, money was not her thing. The story can be found at yahoo.com (US site) and I think she had a pretty good balance because as it turns out she was a millionaire


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## Newguy7 (May 28, 2013)

I don't believe in saving money cause I might die tomorrow and then someone else gets to spend my hard earned cash!! haha!


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## vantage (May 10, 2012)

Newguy7 said:


> I don't believe in saving money cause I might die tomorrow and then someone else gets to spend my hard earned cash!! haha!


good luck with that!


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## Asimfrombombay (Sep 20, 2013)

Newguy7 said:


> I don't believe in saving money cause I might die tomorrow and then someone else gets to spend my hard earned cash!! haha!


Good Luck! Have a safe death


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## ccr (Jun 20, 2010)

Newguy7 said:


> I don't believe in saving money cause I might die tomorrow and then someone else gets to spend my hard earned cash!! haha!


Yeh, me too.

I would absolutely hate it if I die tomorrow and my family would get to spend all of my hard-earned money: my children would be able to go to college, and my wife wouldn't have to work in McD...


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## Newguy7 (May 28, 2013)

yeah like i'm married and have children and i'm being this irresponsible... I wouldn't even have the option of spending my money if I was married..let alone have children!!


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## ccr (Jun 20, 2010)

Newguy7 said:


> ...I wouldn't even have the option of spending my money if I was married...


Make sure you marry the right one, brah!


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## hubbly_bubbly (Oct 17, 2010)

pamela0810 said:


> There is no such thing as a "future". You will only know your future once it becomes the present.


I work in thirds, based on exactly that statement.

30-30-30 and a variable 10, depending on the time of year. Meaning, a third for saving, a third for housing and a third for spending. 

And, if may proudly add, I've started a separate £250.00 a month "cigarette account" since I gave up 2 and a half months ago (after 26 years). If I live for another 26 years, that will be £78,000 (or currency equivalent), not including interest. 

I'll come and retire in India, Pammy. It'll be fun!


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## vantage (May 10, 2012)

hubbly_bubbly said:


> I work in thirds, based on exactly that statement. 30-30-30 and a variable 10, depending on the time of year. Meaning, a third for saving, a third for housing and a third for spending. And, if may proudly add, I've started a separate £250.00 a month "cigarette account" since I gave up 2 and a half months ago (after 26 years). If I live for another 26 years, that will be £78,000 (or currency equivalent), not including interest. I'll come and retire in India, Pammy. It'll be fun!


£250 a month?
At UAE prices, that's 100 cigarettes a day you've given up....!!!


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## hubbly_bubbly (Oct 17, 2010)

I averaged it out on UK prices for the ultimate in, um, savings return for such a bad investment(?). In Beirut, where I lived for 6 years, they were 70p ($1.00USD) a pack - therefore, much easier to do 50-60 a day, depending on where in the ME I was. 

But, perhaps the greatest savings of all will be my life. It;'s not all about money.

Indeed, is there a physical/actual price for happiness? How much does one need to save to be happy anyway? To be safe, secure, fed, housed and free is one thing.

To be truly happy, that's something entirely different.


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## Newguy7 (May 28, 2013)

for those of you that was so concerned about my savings: rest assured! I started saving last night! went to the store to buy some food and I had a coupon that saved me 5% of the total amount!! I can get used to this!! saving is fun!


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## ccr (Jun 20, 2010)

Newguy7 said:


> ...I started saving last night!...


I can sleep at night now knowing that...


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## pamela0810 (Apr 5, 2010)

hubbly_bubbly said:


> I work in thirds, based on exactly that statement.
> 
> 30-30-30 and a variable 10, depending on the time of year. Meaning, a third for saving, a third for housing and a third for spending.
> 
> ...


Now that you've told me you're retiring in India with your cigarette savings, I'm going to spend ALL my money! This WILL be fun! 

Good job on giving up the cancer stick! :hug:


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## hubbly_bubbly (Oct 17, 2010)

pamela0810 said:


> Now that you've told me you're retiring in India with your cigarette savings, I'm going to spend ALL my money! This WILL be fun!
> 
> Good job on giving up the cancer stick! :hug:


Great! You being a grammar nazi and all, I have a retirement business idea too. 










And thank you.


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## blazeaway (Sep 28, 2011)

vantage said:


> £250 a month? At UAE prices, that's 100 cigarettes a day you've given up....!!!


Well I was a 60 a day man, gave up 20 years ago


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## Jean-Paul Belmondo (Dec 1, 2013)

Around 30 per cent, depending on the time of the year


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## plckid (Jul 25, 2013)

Looks like am the only one here ,who is in debt. Forget savings. All my money goes in paying credit card bills. I cant save a penny. Need to find a good job.


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## saraswat (Apr 28, 2012)

plckid said:


> Looks like am the only one here ,who is in debt. Forget savings. All my money goes in paying credit card bills. I cant save a penny. Need to find a good job.


Or not spend as much ...


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## plckid (Jul 25, 2013)

saraswat said:


> Or not spend as much ...


No man. I dont spend that much but the cost of living is high . I haven't seen a movie in theater in months,I dont drink nor smoke. All I need a good job that pays me well. Im 26 .Have a long way to go.People who are saving here,please mention your salaries and the conditions you are in like you are with your family,you have some loans etcc


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## saraswat (Apr 28, 2012)

plckid said:


> No man. I dont spend that much but the cost of living is high . I haven't seen a movie in theater in months,I dont drink nor smoke. All I need a good job that pays me well. Im 26 .Have a long way to go.People who are saving here,please mention your salaries and the conditions you are in like you are with your family,you have some loans etcc


No one's going to mention that information on here, so don't bother asking. It does sound like you need a better job, but then not everyone gets out and starts making a killing right after college. 

26 is nothing in career terms, calm down, just do a good job and earn that experience.


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## vantage (May 10, 2012)

plckid said:


> No man. I dont spend that much but the cost of living is high . I haven't seen a movie in theater in months,I dont drink nor smoke. All I need a good job that pays me well. Im 26 .Have a long way to go.People who are saving here,please mention your salaries and the conditions you are in like you are with your family,you have some loans etcc


I did a 7 year degree.
at 26, i was humped, financially.
things went up after that, then down, then up again!
Things are up for now.

Persevere, and keep an eye out, and be the guy to fill the opening above you.


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## Richard1983 (May 31, 2013)

What might help this thread is along with the percentage of saving where do you put that percentage? Under the mattress... etc

For Me:

Fixed:
12% Company Pension which is topped up by the company with another 12% to 14%
10% Company Discounted Stock 

Variable:
As some have mentioned it depends on the month and what I'm doing, but rule of thumb I average about another 30%.

That 30% goes into a either a ISA (UK Tax Free Savings), Internet Fixed Term Account, Stocks/Shares.

With the interest rates so low it’s hard to squeeze any value out and in real terms I think I am losing money, so been putting more into Blue Chip stock and index's, but there is risk in that... 

Been thinking about bricks and motor but question is where... I haven't stayed in one place for more than two years in the last eight years...

So if anyone has any other options where to put those hard earned savings I would be grateful.


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## vantage (May 10, 2012)

Richard1983 said:


> For Me:
> 
> 
> That 30% goes into a either a ISA (UK Tax Free Savings)
> ...


your status says you are in London..
As an expat outside the UK, you can't invest (legally) in a UK ISA..


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## Richard1983 (May 31, 2013)

vantage said:


> your status says you are in London..
> As an expat outside the UK, you can't invest (legally) in a UK ISA..


Thanks vantage I topped up before moving here in Aug this year, I will take note for the next tax year.


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## sammylou (Oct 29, 2012)

we have a self directed, off-shore investment fund located in the USA. therefor it is exempt from Sharia inheritance law and also jointly named should anything happen to either my husband or me then the other can easily access the funds. we wire money into it from our UAE HSBC account but it is also tied to a joint savings in Canada should we need to withdraw money that we do not want to land in the UAE.

we currently don't have a set % of savings as our finances have been so varied this first year here [selling house in canada, buying property here, multiple trips to north america, etc.] but we are definitely ahead. planning to draw up a regular plan though for the new year to ensure we are paying ourselves first and sending the majority of our money offshore. don't want to lose sight of our goal to save cos we were too busy brunching it away :nono:


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## JJEFFERY (Jul 31, 2013)

A little about my situation for context- married couple in our mid-twenties, no children yet. We just moved here recently (August for me, a while longer for husband), and are working out our savings plan. So far, we haven't saved anything since the move due to relocation costs and me looking for work here, but in the new year we are budgeting saving 40% of our total income. We certainly want to enjoy our time in Dubai (going out, decent place to live, flights out of the country 2-3 times a year, etc), but also don't want to go home with less money than if we had just stayed in Canada. 
Our savings for the next 2 months will go toward paying off the last of our unsecured debt, and then for the rest we are looking at setting up a self-directed off-shore investment account. So far we have looked at Internaxx and Interactive Brokers, but are still undecided. Our plan is to only live in Dubai a couple of years, so the amounts that we do save will be self directed.


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## sammylou (Oct 29, 2012)

JJEFFERY said:


> A little about my situation for context- married couple in our mid-twenties, no children yet. We just moved here recently (August for me, a while longer for husband), and are working out our savings plan. So far, we haven't saved anything since the move due to relocation costs and me looking for work here, but in the new year we are budgeting saving 40% of our total income. We certainly want to enjoy our time in Dubai (going out, decent place to live, flights out of the country 2-3 times a year, etc), but also don't want to go home with less money than if we had just stayed in Canada.
> Our savings for the next 2 months will go toward paying off the last of our unsecured debt, and then for the rest we are looking at setting up a self-directed off-shore investment account. So far we have looked at Internaxx and Interactive Brokers, but are still undecided. Our plan is to only live in Dubai a couple of years, so the amounts that we do save will be self directed.


hey, we are currently using interactive brokers as we had used their canadian account for years. it's a great product and the trader workstation platform software is pretty easy to use and set up how you like. msg me if you guys want help with it at all. one thing to note though, you can keep the US account while living in most countries but once you go back to canada you do have to reopen as a canadian account. it might make for a better transition of your assets to have that continuity. their customer service is very responsive, i'd ask them about how you would eventually make that transition and what's involved. if all you have to do is have your account redesignated as canadian but you don't have to mess with your holdings that could be a big advantage.

on a side note, if you guys have any canadian rrsp funds, you can withdraw the money after 2 years of being non-resident and the tax is only 25% [capital gains!] as opposed to who knows what on your income tax in the future.


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## blazeaway (Sep 28, 2011)

Richard1983 said:


> What might help this thread is along with the percentage of saving where do you put that percentage? Under the mattress... etc For Me: Fixed: 12% Company Pension which is topped up by the company with another 12% to 14% 10% Company Discounted Stock Variable: As some have mentioned it depends on the month and what I'm doing, but rule of thumb I average about another 30%. That 30% goes into a either a ISA (UK Tax Free Savings), Internet Fixed Term Account, Stocks/Shares. With the interest rates so low it’s hard to squeeze any value out and in real terms I think I am losing money, so been putting more into Blue Chip stock and index's, but there is risk in that... Been thinking about bricks and motor but question is where... I haven't stayed in one place for more than two years in the last eight years... So if anyone has any other options where to put those hard earned savings I would be grateful.


Why an Isa as a non tax payer in UAE?


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## Richard1983 (May 31, 2013)

blazeaway said:


> Why an Isa as a non tax payer in UAE?


As I explained in a follow up post to Vantage, I topped up my annual allowance in the current tax year before moving out to Dubai. (Topped up in May moved in Aug).

I do not intend to close out my UK or Irish Accounts for a number of reasons, e.g. I will move back at some stage... and the risk is spread over currencies and countries.


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## Canuck_Sens (Nov 16, 2010)

I am going to be very precise here in terms of sharing how much I save.

I save a hell of a LOT.

Trusts this helps.


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## digitalsandman (Dec 21, 2013)

*Rak?*



saraswat said:


> I live in RAK ... enough said ...
> 
> 70-75% (it's a completely different economy here...)



What are the connotations of living in RAK?

cheers


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## zatapa (Jun 21, 2013)

sammylou said:


> on a side note, if you guys have any canadian rrsp funds, you can withdraw the money after 2 years of being non-resident and the tax is only 25% [capital gains!] as opposed to who knows what on your income tax in the future.


Only 25%? Me thinks that that is still quite a lot. I myself have kept my dutch house and every month money goes into a 5.6% interest savings account which is part of the mortgage. It adds up quickly. 
Apart from that, i trade stocks through my Dutch broker, completely tax free. And i buy gold and silver coins as an investment. They are currently quite nicely priced but not to be used for short term trading.


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## INFAMOUS (Apr 19, 2011)

33.33% Save
33.33% Cost of living
33.33% Spend it as I could die today.


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