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My Monthly Savings In Canada - Travel (17) - Nairaland

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Re: My Monthly Savings In Canada by Fadayomib(m): 9:36am On Jan 31
happy new year bro, I pray the lord will open a new door for you.
atutupoyoyo2211:
Hi Guys, I moved to Canada 2 years ago and i have not been able to save any money yet. I made up my mind that i must save $120,000 (one hundred and twenty thousand dollars) by November 10,2020. I decided to document my progress on this forum, so that anyone that wants to compel themselves to save money for the future can also be encouraged to do so. We all have different savings targets. I didn't put my full information on the forum due to security reasons since i am going to be posting my bank balances from time to time to document my progress. Now, a little background on myself. I am a graduate from Nigerian. I came to Canada in 2016, worked in a warehouse for a while. I presently work as a security guard while doing my Masters degree. Its a 2 year masters degree. My hourly earning is $16 an hour, but i work a heavy overtime schedule, since nobody wanted to work overtime, as a naija sharp guy, i offered to work the overtime shifts.
I started the Savings last week and i am going to post my first bank balance online. Lets see if i can meet my target. If anyone has tips that can help me achieve my goals, your suggestions are highly welcome. If anyone wants to save, you can also post on here , lets document our progress together. But please keep personal info off here for security reasons. So, lets do this.
Re: My Monthly Savings In Canada by Fadayomib(m): 9:38am On Jan 31
you can kindly look for another job so that you can always balance up your monthly savings
Re: My Monthly Savings In Canada by iaatmguy(m): 10:12am On Jan 31
sorry about the setbacks, but please do your math about finding another job or staying put. Getting another job might require transit time, to and fro home and your present place of employment. This might reduce your earning time, IMO. except you get another job , that pays higher, with less stress.

please if you insist on working extra hours, don't be emotional about it.
Re: My Monthly Savings In Canada by Pwettybii: 12:10pm On Jan 31
Fadayomib:
happy new year bro, I pray the lord will open a new door for you.
Please is it advisable to use a sponsor with a company account and co sponsor with a personal account.both are my siblings ,the sponsor with the company account is the sole proprietor if the business,I await ur reponse
Re: My Monthly Savings In Canada by Babyvet: 2:01pm On Jan 31
atutupoyoyo2211:
Hey guys,
First of all, I've got to apologize for been off for so long. I had a lot going on and i just had to be off for a while. So like i told you guys, i would be traveling to Calgary for Christmas, I did. And the journey was so freaking long. An 18 hour journey in Nigeria is no way an 18 hour journey in Canada. On my way back, i had a little accident in my car. Before i left for to Calgary, i wanted to change my tires to snow tires, but the mechanic suggested i use 'All Weather tires " so i dont have to change again during summer, and i did. I think that was a bad decision. So on our way back, we encountered a mild snow storm, and the roads were entirely white and my vehicle kept skidding. My vehicle being a front wheel drive did not help matters, so the vehicle had a bad skid and we had an accident. Luckily for us, it happened when i had already entered my province, so it could be covered by my insurance. But my deductible is quite high $2500, so i had to pay that before insurance could take over. Long story short, i spent of money a lot in Calgary, and i also spent a lot fixing my car when i got home. So i had to dip into my Savings. I was really sad but we've gotta keep living.
When i got back to work, i realized the company i work with had a meeting and decided that they do not want to pay me for overtime anymore, and that they need to employ someone else for the other 8 hour shift. To be honest, this was a hard knock for me, because i just moved to a more expensive accommodation. They first complained that my long hours may be detrimental to my health, but when i suggested to them that i dont mind working without overtime pay, they agreed. Now, this made me realize they actually dont care about my health, they were not just happy that a security guard was earning so much. I am trying to decide whether i want to continue without overtime pay or look for a second job.
Now as for my savings, I am starting to build it up again, its gonna be a bit hard, but i am committed to it.
Happy new year to everyone


I’m not in the least bit shocked by your employers actions and response. Any overtime must be paid . I would encourage you to look for second job, not only for finianicials purposes but for job security purposes.

1 Like

Re: My Monthly Savings In Canada by Getbizzzy: 5:58pm On Jan 31
lapazi:
Bro its not just about saving, but what can your savings fetch you...

Never leave your savings idle...

Make your savings your slave and it will work for you...

Richest man in Babylon...

If you know you know...

I'm also not comfortable posting such details online, the greatest test to set controls and security is collusion... You just don't know how this information can be manipulated...

Lol

I'm interested in letting the savings work for me, any idea?
Re: My Monthly Savings In Canada by lapazi(m): 4:33pm On Feb 01
Getbizzzy:


I'm interested in letting the savings work for me, any idea?

If you're over there, you can start legit "Drop Shipping" business- all you need is someone here you can trust- where your items will be delivered too.

You can look into the profiles here on how it works and how successful it can be...

1 Like

Re: My Monthly Savings In Canada by Getbizzzy: 10:19am On Feb 02
lapazi:


If you're over there, you can start legit "Drop Shipping" business- all you need is someone here you can trust- where your items will be delivered too.

You can look into the profiles here on how it works and how successful it can be...

Can you put me thru pls?
Re: My Monthly Savings In Canada by Adolchilex: 6:06pm On Feb 06
i have a diploma in occupational security and safety magt. I wish to move to canny, to further my studies. What will be the possibility of getting a job in the field if i graduate
Re: My Monthly Savings In Canada by kentoski: 9:41am On Feb 07
atutupoyoyo2211:
Hey guys,
First of all, I've got to apologize for been off for so long. I had a lot going on and i just had to be off for a while. So like i told you guys, i would be traveling to Calgary for Christmas, I did. And the journey was so freaking long. An 18 hour journey in Nigeria is no way an 18 hour journey in Canada. On my way back, i had a little accident in my car. Before i left for to Calgary, i wanted to change my tires to snow tires, but the mechanic suggested i use 'All Weather tires " so i dont have to change again during summer, and i did. I think that was a bad decision. So on our way back, we encountered a mild snow storm, and the roads were entirely white and my vehicle kept skidding. My vehicle being a front wheel drive did not help matters, so the vehicle had a bad skid and we had an accident. Luckily for us, it happened when i had already entered my province, so it could be covered by my insurance. But my deductible is quite high $2500, so i had to pay that before insurance could take over. Long story short, i spent of money a lot in Calgary, and i also spent a lot fixing my car when i got home. So i had to dip into my Savings. I was really sad but we've gotta keep living.
When i got back to work, i realized the company i work with had a meeting and decided that they do not want to pay me for overtime anymore, and that they need to employ someone else for the other 8 hour shift. To be honest, this was a hard knock for me, because i just moved to a more expensive accommodation. They first complained that my long hours may be detrimental to my health, but when i suggested to them that i dont mind working without overtime pay, they agreed. Now, this made me realize they actually dont care about my health, they were not just happy that a security guard was earning so much. I am trying to decide whether i want to continue without overtime pay or look for a second job.
Now as for my savings, I am starting to build it up again, its gonna be a bit hard, but i am committed to it.
Happy new year to everyone


But you can't be serious about putting in the extra hours without pay. You didn't go there for charity na...and please I have a question, are overtime wages taxed??
Re: My Monthly Savings In Canada by kentoski: 9:42am On Feb 07
Adolchilex:
i have a diploma in occupational security and safety magt. I wish to move to canny, to further my studies. What will be the possibility of getting a job in the field if i graduate

Very high possibility, especially if you switch to the environment side of the whole HSE kini, or so I heard, the problem is getting there first.
Re: My Monthly Savings In Canada by bily(m): 2:38pm On Feb 08
kentoski:


But you can't be serious about putting in the extra hours without pay. You didn't go there for charity na...and please I have a question, are overtime wages taxed??

You didn't get him. He will still be paid for working extra hours but he would be paid at normal working rate.
Overtime rate is 1.5 x normal rate.

So if he's earning $10/hr normal rate, overtime is paid at $15/hr.
So he told his employer that he won't mind collecting the normal $10/hr for his overtime.
The only thing is I'm not sure if this is legal and it could put the company in trouble. They may eventually realize this and stop it.
And yes, all pay it's taxed including overtime

6 Likes

Re: My Monthly Savings In Canada by kentoski: 6:36pm On Feb 08
bily:


You didn't get him. He will still be paid for working extra hours but he would be paid at normal working rate.
Overtime rate is 1.5 x normal rate.

So if he's earning $10/hr normal rate, overtime is paid at $15/hr.
So he told his employer that he won't mind collecting the normal $10/hr for his overtime.
The only thing is I'm not sure if this is legal and it could put the company in trouble. They may eventually realize this and stop it.
And yes, all pay it's taxed including overtime

Oh, ok I get it now.
Re: My Monthly Savings In Canada by Adolchilex: 3:02pm On Feb 12
Thanks for ur reply kentoski, but my sponsor is sugesting s/korea,australia or n/zealand should incase canny visa become's dicey.PLS ADVICE ME
Re: My Monthly Savings In Canada by kentoski: 7:16pm On Feb 12
Adolchilex:
Thanks for ur reply kentoski, but my sponsor is sugesting s/korea,australia or n/zealand should incase canny visa become's dicey.PLS ADVICE ME

I don't remember our interaction o, can you quote the reply? Plus I'm actually not in any capacity to advice another, I just started the race, haven't done much myself.
Re: My Monthly Savings In Canada by Josade69: 8:51pm On Feb 12
grin
Re: My Monthly Savings In Canada by Adolchilex: 1:05am On Feb 13
Kentoski u forget easilyThe guy u adviced to switch to HSE, if he get to canny.
Re: My Monthly Savings In Canada by kentoski: 6:21am On Feb 13
Adolchilex:
Kentoski u forget easilyThe guy u adviced to switch to HSE, if he get to canny.

Oh, ok

You see there are prospects of success and failure everywhere in this world, Nigeria inclusive, if you have the right ingredients.

The country you travel to does not matter as much as what you are going to do there, you don't get to pick up money on the ground anywhere right? The only reason going to Canada or Australia is a thing is better opportunities then working/living conditions, and it is good to concentrate your efforts too. Focus on one side, unless it is not working.

1 Like

Re: My Monthly Savings In Canada by Adolchilex: 12:22am On Feb 14
Kentoski i appreciate ur effort trying to put me through on this thread,but i'm concern on how any of the 4 countries i mention could be a pathway for success
Re: My Monthly Savings In Canada by kentoski: 1:23am On Feb 14
Adolchilex:
Kentoski i appreciate ur effort trying to put me through on this thread,but i'm concern on how any of the 4 countries i mention could be a pathway for success

My brother anywhere can be a pathway to success, including your village in Nigeria.

Just decide on what you want, research and determine which of the countries you think can help you best achieve that, google can help provide information, then work towards that one.

2 Likes

Re: My Monthly Savings In Canada by princeaustinj1: 11:50pm On Feb 15
Please guys I am a professional fassion designer and also a graduate of civil engineering.
I want to migrate to U S but, needs an advise on the best way to go about it. Should I go for work permit, vacation or student visa? Please help a brother
Re: My Monthly Savings In Canada by bolarge717: 1:01pm On Mar 09
Good afternoon readers.
Please i have a question, pardon my being straightforward.
I am looking to futher my studies abroad, am in my final year and would like to know the process i should follow, what to do and what to prepare myself for. Most importantly, i would like to know or have an idea home much i should have minimum for this journey am about to embark on.
Re: My Monthly Savings In Canada by Sarang(f): 4:10pm On Mar 09
You motivate me Sir.
Re: My Monthly Savings In Canada by CodeTemplar: 4:39pm On Mar 09
internationalman:
$16 per hour..

Assuming he works for 8 hrs $16 X 8hrs = #44800

Assuming he works for 28 days a month #44800 X 28
=1254400million..

So gateman pays way better abroad than a bank manager in Nigeria...
Yes and that's cos a gate man there brings more to the table than a bank manager here.
Re: My Monthly Savings In Canada by gees101(m): 12:14pm On Apr 20
So na so dis thread wan take die ????? op where u dey na
Re: My Monthly Savings In Canada by shina101(m): 8:41pm On Apr 24
Hmm.....walks by
Re: My Monthly Savings In Canada by Thegents6: 11:37am On Apr 29
Knock! Knock!! Knock!!!
Re: My Monthly Savings In Canada by sunkieisland: 1:03pm On Apr 29
gees101:
So na so dis thread wan take die ????? op where u dey na
I'm pretty sure some naysayers discouraged him.
Re: My Monthly Savings In Canada by fxdee: 3:24pm On May 15
Let this thread continues.
Re: My Monthly Savings In Canada by Fhemmmy: 4:07pm On May 15
internationalman:
$16 per hour..

Assuming he works for 8 hrs $16 X 8hrs = #44800

Assuming he works for 28 days a month #44800 X 28
=1254400million..

So gateman pays way better abroad than a bank manager in Nigeria...

That is a wrong way to do the calculation . . . . .For an employee that earns 16.00$ an hour will go like this
Regular hours worked in a week is usually 40 hours, afterwards, will be overtime.


40 Hours * 16$ = 640$ per week and average person get paid every two weeks and that means
640$ * 2 = 1280$ every 2 weeks
You can't take all that home because you will still have to pay your taxes . . . . .Average of 22% for someone making up to 38,000$ per year while it goes up to 24% if you make up to 82,000$ per year


Meaning for someone that earns 16.00$ per hour and average of 40 hours a week, that means
1280$ every 2 weeks and since we have 52 weeks in a year and that means 26 if you are paid every 2 weeks


1280$ * 26 = 33,280$ per year and that means you are within the 22% tax an that translates into 7321$ taxes deducted from you for the year and that is average

7321$ /26 = 281$ per paycheck


And this means your take home will be an average of 1281 - 281 = 1000$ every 2 weeks

Conclusion, you will take home 26,000$ for the year ,,,,In Naira = 26000 * 280 Naira = 7.2M Naira for the year . . . .

Please note that cost of living in Canada isn't cheap at all and when the man said it is almost impossible to save

3 Likes

Re: My Monthly Savings In Canada by fullofgrace(m): 6:05pm On May 15
Wat are the recommended job site in Canada
Pls someone should help me
Re: My Monthly Savings In Canada by fullofgrace(m): 6:06pm On May 15
Wat are the recommended job site in Canada
Pls someone should help me cool cool :ou

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