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Stats: 2,407,438 members, 5,390,182 topics. Date: Monday, 27 January 2020 at 05:50 PM
|Re: My Monthly Savings In Canada by siverspooon(m): 7:48am On Nov 23, 2018|
hmmm... indeed there was a country called nigeria
|Re: My Monthly Savings In Canada by Alwaysking: 7:53am On Nov 23, 2018|
Nice one bro
|Re: My Monthly Savings In Canada by TimoBriggs: 9:53am On Nov 23, 2018|
I salute your doggedness and determination. Its the key to success but you need to try and find a balance. You worked a freaking 120 hrs in a week from this your screenshot. How many hrs dey 7 days ? Guy you dey sleep so ? Out of 3.6 cash, they took 1.4 , thats about 40% and thats high. Am also seeing everyone wants your money but not knowing your hustle is x3 , aint certainly not the norm. Keep up the diligence and the hardwork
|Re: My Monthly Savings In Canada by atutupoyoyo2211: 4:05pm On Nov 23, 2018|
Its a bit difficult to answer your question because every province in Canada have different standard of living. for example living cost and basic amenities are high in British Columbia but lower in Alberta. My rent is $1050 a month, car payment $500 a month ( i drive a 2017 model car), and my insurance is $235 a month. Now, i have already paid for my rent till February next year. i normally pay for 6 months at once. Also how much one could make in a day is also a question that i cant really answer because it is relative to your job. If i speak for myself, right now because i am going to be working about 16 hours a day, 5 days a week, for the next 2 months, i earn about $352 a day before tax.
Your last question is not very clear.
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|Re: My Monthly Savings In Canada by atutupoyoyo2211: 4:17pm On Nov 23, 2018|
Thanks a lot. That week was actually a crazy week, but i haven't done that much hours again, and i dont think i will.
|Re: My Monthly Savings In Canada by newsheriffintown: 5:40pm On Nov 23, 2018|
Op what visa did you use to enter,coz am sure isnt student visa
Abeg tell boys .if na to enter golf of Mexico make we kwn
|Re: My Monthly Savings In Canada by atutupoyoyo2211: 6:30pm On Nov 23, 2018|
I am a permenent resident. I actually got my PR visa 2013, but like i said i had a good job in Nigeria and wasn't in a hurry to travel. I decided in 2014 to come to canada and stay, but i could only survive 2 weeks in Canada and i ran back to Nigeria because i did not still have the balls to surrender my job in Nigeria. I came back again in 2015 to Canada thinking i would stay, but after 2 weeks i went back to Nigeria because i still didnt have the courage to make the transition. But in 2016, my PR visa was about to expire, so i had to make a final decision, NIGERIA or CANADA? at that moment, I had to make up my mind and leave Nigeria and i have been in Canada since. Now, My sister came to Canada immediately we got the PR visa and she is now a citizen. Assuming i had left Nigeria immediately we got the visa, I would have been a citizen by now. But i guess God's time is the best. I will become a citizen by next year.
Canadian citizenship process is one of the best i have seen, maybe after or before that of Ireland, if i am correct. You spend 3 straight years as a PR and you qualify for citizenship provided you have no serious convictions and no bankruptcy claims. Write a test of 20 questions and that is it. Once you pass, you are sworn-in a few weeks later as a citizen.
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|Re: My Monthly Savings In Canada by chinochizzy: 8:58pm On Nov 23, 2018|
atutupoyoyo2211:wow bro u make roughly #2.5M monthly in Canada?
|Re: My Monthly Savings In Canada by oluayebenz: 12:53am On Nov 24, 2018|
Can we now see the different between a white man and a black man........
Can a white man sit down and think he wanna save $120,000 from pay cheque?
Can a white man be sleeping for just 5-6hrs daily because of money?
They value their health more better than money cos health is wealth......
See what's happening with African leaders
They will embezzled the whole country money cos of their selfish interest.
See Abacha he stole money and kept it at Swiss bank believing he will live forever.
Swiss govt spent d money and repatriate the leftover.
I used to ask my white collegue at work
Do u wanna be rich to buy everything she will replied by saying no I need good health.
White man will make money and spend roughly almost everything to satisfy themselves and other will surely benefit from it while black man will make money and will hardly spend little from it.
I never say money is not good
Jus live within your reach and be happy
25 Likes 1 Share
|Re: My Monthly Savings In Canada by yemiosinbajo: 2:18am On Nov 24, 2018|
|Re: My Monthly Savings In Canada by atutupoyoyo2211: 3:06am On Nov 24, 2018|
Now, I had a very long reply for this comment, but then again i do not want to stop watching my movie, its very interesting. I will only make one statement.
Well, i think i am gonna write up a bit. First of all, it is unfair to compare hard working folks with Abacha and other african leaders, that is disrespectful. Second, There is no study that has proven 6hrs sleep, 5 days a week is detrimental to ones health. Third, i have no intentions of working even 8 hrs a day till i am 65 like the "most white folks" you talked about. Lastly, your circle is very small, try not to generalise on a whole race, just by talking to a few people. Hard working folks dont work for money, they work for a future. I've got a lot more to say, but i will leave it here. Cheers Bro
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|Re: My Monthly Savings In Canada by omidan21: 4:39am On Nov 24, 2018|
So let me just chip this in. I hear.r people say na tax go kill you bla bla, .And I just shake my head as many people are ignorant of how tax system work i don't think it's that bad or that back beaking
I saw this from a source please confirm this authentic it
I stand to be corrected
When it comes to Taxes in Canada many people are misinformed. You always take a raise. You make out with more than staying where you are. Same as overtime, you weight the pros and cons, and it should never be a tax decision since you always end up ahead.
Marginal Tax brackets work like this. (all numbers are made up for simplicity since I don't have a calculator.)
Tax Bracket 1: 0-12K - 0% tax.
So for example if you make 11k you pay $0.
Tax Bracket 2: 12,001-20,000 - 15% tax.
So for example if you make 15K. The first 12K is in bracket 1 = $0. The remaining 3K is in bracket 2. 3K@15% = $450 in tax owing. NOT 15K x 15% = $2,250 in tax.
Tax Bracket 3: 20,001-45,000 - 25% tax.
So for example if you make 21K. The first 12K is in bracket 1 = $0. The next 8K is in bracket 2. 8K@15% = $1,200 in tax owing. The remaining 1K is in the 25% backet = $250. Total TAx = $1,450. NOT 21K x 25% = $5,250
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|Re: My Monthly Savings In Canada by omidan21: 4:41am On Nov 24, 2018|
o chip in further
CPP and EI are not taxes. Benefits and union dues are not taxes. Medical insurance is not tax.
Tax is only tax
CPP is the Canadian pension plan, you are forced to save for retirement
EI is employment Insurance, it's for when you lose your job to no fault of your own
Just to add on:
CPP also caps out every year so you don't pay it indefinitely, just to your cap. The first $3,500 you make is CPP exempt, you contribute 4.95% of every dollar you earn after that until you max out at $2,593.80 for 2018.
EI caps out at $858.22
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|Re: My Monthly Savings In Canada by saipn: 6:48am On Nov 24, 2018|
Ugosample:pls clarify more better on what u mean by he will lose his Money? Are u referring to the entire money invested in it?or interest?
|Re: My Monthly Savings In Canada by Ugosample(m): 7:44am On Nov 24, 2018|
you cannot blame the black man 100 %
he has suffered so so much.
Hence it has messed his psyche
But its a laudable idea tho to save.
But our attitude to money tho
5 Likes 1 Share
|Re: My Monthly Savings In Canada by Ugosample(m): 7:45am On Nov 24, 2018|
if the naira gets devalued again, the entire investment loses value in dollar terms.
That's what I'm saying
it is a risk
|Re: My Monthly Savings In Canada by dkizzy01: 8:17am On Nov 24, 2018|
Please boss which online courses is recognise in Canada that can be use as certificate,
I was thinking of Udemy courses.
Please your view will be highly appreciated.
|Re: My Monthly Savings In Canada by saipn: 8:52am On Nov 24, 2018|
|Re: My Monthly Savings In Canada by Nobody: 10:01am On Nov 24, 2018|
wow sir based on ur calc
u make 7040$ per month
spend $1785 on stuffs you posted u car, housing,insurance
thats $5255 remaining
how much do u get taxed
regarding the last question
can one sponsor himself through undergraduate studies over there working this way?
i stand to be corrected though
whats pr visa sir?
|Re: My Monthly Savings In Canada by dustydee: 11:39am On Nov 24, 2018|
Emzyme:What time will be left for study and classes? And if the person is on a visa, that will be way above the maximum number of hours they are permitted to work - Deportation loading.
|Re: My Monthly Savings In Canada by Nobody: 11:59am On Nov 24, 2018|
8 hrs remain
e go hard oo
|Re: My Monthly Savings In Canada by chinochizzy: 1:30pm On Nov 24, 2018|
Chai! Money dey this Canada o I was planning on going to South Korea before where I might be earning like $1700 per month doing factory work, I don change my mind Canada here I come
|Re: My Monthly Savings In Canada by atutupoyoyo2211: 3:04pm On Nov 24, 2018|
Like i said at the beginning of this thread, I am a permanent resident of Canada, not on a student visa. I spend about 4 hours of my time every week day attending classes online and studying. The course i am studying is part classroom, part online.
|Re: My Monthly Savings In Canada by salford1: 3:11pm On Nov 24, 2018|
$7,040 is good money in Canada and that amount places an individual in the top 15% earners in the country. Excluding Overtime (OT) or Stat (statutory holiday earnings), that works out to be around $43/hr. Probably OP would make this amount for 2months and return to maybe regular hours. Hence the reason why the savings is even more important. No one knows what business decision makers have in mind. Employers generally do not like to pay OT hours and would rather hire more employees to cut OT if the OT hours are extended than normal.
To all those that might be misinterpreting OP's earning report to think money is easy to come by in Canada, like the guy thinking of sponsoring himself in school based on looking at op's earnings which is not a norm.
According to StatsCan, the median income (plus our 10 per cent factor) in Canada in 2013 was $35,200. This means that half of Canadian tax filers have incomes over that number and half are under that number.
Based on 2013 income data and our 10 per cent added factor, the top 15 per cent make $85,000 or more per year, the top 10 per cent make $97,000 or more per year, the top five per cent make $137,000 or more and the top one per cent make $245,000 or more.
Based on a recent 2015 report,
$25,000 = 94th percentile
$50,000 = 53rd percentile
$75,000 = 27th percentile
$100,000 = 14th percentile
$150,000 = 5th percentile
$225,000 = 2nd percentile
$300,000 = 1st percentile
|Re: My Monthly Savings In Canada by Godchangemylife: 3:14pm On Nov 24, 2018|
atutupoyoyo2211:Hello bro, what if one completed a degree in canada/USA. Can it help one earn more like without overtime work.
Like me planning on getting a bsc in Electrical Engineering, Do I have a higher chance on not working that much and getting paid heavily.
Ps: I'm not lazy just a question.
|Re: My Monthly Savings In Canada by LadyHeaven(f): 3:14pm On Nov 24, 2018|
Truthfully this OP is very honest, no shady lies or rigmaroles, may God bless your hustle, mine and theirs. All the best
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|Re: My Monthly Savings In Canada by dustydee: 3:18pm On Nov 24, 2018|
atutupoyoyo2211:I was responding to the guy that asked if he could do the same as an undergrad in Canada.
|Re: My Monthly Savings In Canada by salford1: 3:31pm On Nov 24, 2018|
Godchangemylife:Don't know what you mean by heavily. However, you do not need to work crazy hours If you have say a bsc in electrical from Canada or the US, canada preferably, and you are lucky to get a job after grad. Your average starting wage would be around $35 an hour. As you rise through the rank and put in years of experience, it would go up to the of $43 to $46/hr, and when you start hiting a managerial position, it can go as high as $50 to $70/hour or more based on type of employer or where you work in the country.
|Re: My Monthly Savings In Canada by Godchangemylife: 3:34pm On Nov 24, 2018|
|Re: My Monthly Savings In Canada by salford1: 3:41pm On Nov 24, 2018|
Godchangemylife:You are welcome bro.
|Re: My Monthly Savings In Canada by salford1: 3:52pm On Nov 24, 2018|
oluayebenz:I actually prefer the OP's lifestyle. He is not even sacrificing his comfort while saving. You saw where he wrote that he drives a 2017 car? Newer model cars don't come cheap as you can tell from his monthly payment. I have worked security jobs too when i was a new immigramt in Canada. It's one of the easiest survival jobs out there. It also lets people prepare for professional exams while on the job compared to other survival jobs that would break people and leave them worn out.
The op has set himself on the right path. Canadians like to consume, consume and consume the more often spending more they can afford which the government is even trying to discourage by increasing the BOC lending interest rate to slow down that habit.
I dont see how Op's savings habit has anything to do with Abacha or Nigerian corrupt politicians. It's like comparing apples to oranges.
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