How many percent of your salary are you able to save? Would you stay here if you couldn't save anything? | ExpatWoman.com
 

How many percent of your salary are you able to save? Would you stay here if you couldn't save anything?

96
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EW NEWBIE
Latest post on 04 November 2012 - 11:07

In a good month we try to save 30-40%. The calculation is based on salary minus rent. Almost every month something unexpexted comes up, so I find it hard to meet this target. I am concerned about saving cause of the missing social system in this country. And this answers my 2nd question: no, I wouldn't stay if we can't save anything.

Thanks in advance for all the replies!
<em>edited by Happy35 on 04/11/2012</em>

5
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EW NEWBIE
Latest post on 06 November 2012 - 16:52
Thanks for the info! Then I guess we have calculated quit right. Swedishwoman - my husband earns substantially less than what you quote(and no bonus). We do NOT get medical or flights and are currently paying AED 96k a year in school fees out of his salary. We get by although the extra AED 30k a year when the youngest goes to Secondary School will be a step too far. We are however, not saving any money at all and I have to be very careful. On what you're talking about (even with 2 kids - one at secondary and one at primary) I reckon we could easily save AED 6 to 8K a month - without school fees it would be about AED15k a month savings. It all depends where you want to live - we compromised and don't pay huge rent and both drive cheap cars.....It's very easy to 'waste' money out here. just reread your post - if you have no children and no school fees you will be EASILY OK. We have less than half what you quote after school fees and medical is paid and we get by. You should be very comfortable. It's not hugely easy to get work so you have two incomes and a lot of the local hire jobs pay very little (often see expat jobs advertised for AED5k a month). I'm doing bits and pieces and managed to get a few k AED every month which helps for 'extras.' If you network enough you should find something but I wouldn't base your calculations on your earnings...anything you earn I would see as a bonus.
1370
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EW OLDHAND
Latest post on 06 November 2012 - 16:06
Swedishwoman - my husband earns substantially less than what you quote(and no bonus). We do NOT get medical or flights and are currently paying AED 96k a year in school fees out of his salary. We get by although the extra AED 30k a year when the youngest goes to Secondary School will be a step too far. We are however, not saving any money at all and I have to be very careful. On what you're talking about (even with 2 kids - one at secondary and one at primary) I reckon we could easily save AED 6 to 8K a month - without school fees it would be about AED15k a month savings. It all depends where you want to live - we compromised and don't pay huge rent and both drive cheap cars.....It's very easy to 'waste' money out here. just reread your post - if you have no children and no school fees you will be EASILY OK. We have less than half what you quote after school fees and medical is paid and we get by. You should be very comfortable. It's not hugely easy to get work so you have two incomes and a lot of the local hire jobs pay very little (often see expat jobs advertised for AED5k a month). I'm doing bits and pieces and managed to get a few k AED every month which helps for 'extras.' If you network enough you should find something but I wouldn't base your calculations on your earnings...anything you earn I would see as a bonus.
2725
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EW EXPERT
Latest post on 06 November 2012 - 15:47
Just wanted to add our 3 bed apartment in JLT is 8500 per month, so a salary of 44,000 per month, you would live a half decent life and still be able to save. I'm in Doha for afew days, we hardly go out in the week and last night we did, meal with wine and a couple beers cost 660.00 Rials, never paid this out ever for a meal in the week, still shocked lol. EEEK, thats "special occasion " prices that is! I hope it was really nice :-) Meal was nice, I just wish now I could of finished the bottle wine I had, lol Where on earth did you go with a bill like that? Marriot and the restaurant was the indian.
96
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EW NEWBIE
Latest post on 06 November 2012 - 14:41
@swedishwoman: i think you can save a good amount as your package sounds fine. Before you decide for jbr, check some posts in this forum. I would go for a 2 bed cause most of the apartments don't have an extra storage room and you might want to invite family/ friends.
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EW OLDHAND
Latest post on 06 November 2012 - 14:34
Just wanted to add our 3 bed apartment in JLT is 8500 per month, so a salary of 44,000 per month, you would live a half decent life and still be able to save. I'm in Doha for afew days, we hardly go out in the week and last night we did, meal with wine and a couple beers cost 660.00 Rials, never paid this out ever for a meal in the week, still shocked lol. EEEK, thats "special occasion " prices that is! I hope it was really nice :-) Meal was nice, I just wish now I could of finished the bottle wine I had, lol Where on earth did you go with a bill like that?
2725
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EW EXPERT
Latest post on 06 November 2012 - 14:30
Just wanted to add our 3 bed apartment in JLT is 8500 per month, so a salary of 44,000 per month, you would live a half decent life and still be able to save. I'm in Doha for afew days, we hardly go out in the week and last night we did, meal with wine and a couple beers cost 660.00 Rials, never paid this out ever for a meal in the week, still shocked lol. EEEK, thats "special occasion " prices that is! I hope it was really nice :-) Meal was nice, I just wish now I could of finished the bottle wine I had, lol
31
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EW NEWBIE
Latest post on 06 November 2012 - 14:13
I just joined this forum as me and my husband most certainly will have to relocate to Dubai during next year. I read this thread as we want to be able to save money and my question is if you think we are able to do so with a total yearly salary of approx. 530.000 Dirham(that is the total with basic salary, housing- and car allowance). The company will also pay our health insurances and 1 yearly trip home. As we now live in Switzerland I assume that the daily costs will be less than here as food and services are extremly pricy in CH. I think it will be possible, our annual salary is less than that, have one child (so school fees), do not get housing but do get medical insurance and flight for my husband back to the uk each year and I do not work and we manage to save around 40% of wages. Admittedly, we have been here two years now and started saving that much this year.
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EW EXPERT
Latest post on 06 November 2012 - 13:51
Kein Problem :). I'ts great to get opinions from people actually living there. I also forgot to mention that he will have a 20% bonus and we get a "one time relocation sum" of 30.000 Dirhams for the first upcoming expenses. Our plan is to get a 1-room apartment in JBR and have one car(around 60-70 k Dirhams). Then our calculations looked ok. Thanks for the inputs. We don't have children and I will also start to look for a job there so we will have two incomes after a while. then you should be fine :-) Sorry to worry you
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EW NEWBIE
Latest post on 06 November 2012 - 13:37
Kein Problem :). I'ts great to get opinions from people actually living there. I also forgot to mention that he will have a 20% bonus and we get a "one time relocation sum" of 30.000 Dirhams for the first upcoming expenses. Our plan is to get a 1-room apartment in JBR and have one car(around 60-70 k Dirhams). Then our calculations looked ok. Thanks for the inputs. We don't have children and I will also start to look for a job there so we will have two incomes after a while. then you should be fine :-) Sorry to worry you
101
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EW NEWBIE
Latest post on 06 November 2012 - 13:31
Just wanted to add our 3 bed apartment in JLT is 8500 per month, so a salary of 44,000 per month, you would live a half decent life and still be able to save. I'm in Doha for afew days, we hardly go out in the week and last night we did, meal with wine and a couple beers cost 660.00 Rials, never paid this out ever for a meal in the week, still shocked lol. EEEK, thats "special occasion " prices that is! I hope it was really nice :-)
1575
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EW EXPERT
Latest post on 06 November 2012 - 13:17
Thanks for the inputs. We don't have children and I will also start to look for a job there so we will have two incomes after a while. then you should be fine :-) Sorry to worry you
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EW NEWBIE
Latest post on 06 November 2012 - 13:14
Thanks for the inputs. We don't have children and I will also start to look for a job there so we will have two incomes after a while.
2725
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EW EXPERT
Latest post on 06 November 2012 - 13:07
Just wanted to add our 3 bed apartment in JLT is 8500 per month, so a salary of 44,000 per month, you would live a half decent life and still be able to save. I'm in Doha for afew days, we hardly go out in the week and last night we did, meal with wine and a couple beers cost 660.00 Rials, never paid this out ever for a meal in the week, still shocked lol.
513
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EW GURU
Latest post on 06 November 2012 - 13:06
Yes, what I said was misleading. It is possible to live on that salary if you are just a couple, no children living in an appartment. But for a family to want to replicate the Swiss lifestyle here, pay school fees, go out, run cars, pay rent, dewa etc..... I think this amount we be eaten up very quickly and there woudn't be much room for savings Agreed, as I said, all depends on the chocie of lifestyle ;)
1575
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EW EXPERT
Latest post on 06 November 2012 - 13:03
Yes, what I said was misleading. It is possible to live on that salary if you are just a couple, no children living in an appartment. But for a family to want to replicate the Swiss lifestyle here, pay school fees, go out, run cars, pay rent, dewa etc..... I think this amount we be eaten up very quickly and there woudn't be much room for savings
513
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EW GURU
Latest post on 06 November 2012 - 13:00
I just joined this forum as me and my husband most certainly will have to relocate to Dubai during next year. I read this thread as we want to be able to save money and my question is if you think we are able to do so with a total yearly salary of approx. 530.000 Dirham(that is the total with basic salary, housing- and car allowance). The company will also pay our health insurances and 1 yearly trip home. As we now live in Switzerland I assume that the daily costs will be less than here as food and services are extremly pricy in CH. No way - not if you want to live well ( and I am from Switzerland) That will not be enough I disagree, I think its possible on almost 44,200 per month. It will depend on your lifestyle. I think the biggest expenses are accommodation and school fees and if you dont have school going children as yet you dont have to go for big/luxurious accommodation either (like a villa, garden etc), so basically if its just you and DH, I think its possible. It is advisable to have some money for upfront costs though.
2725
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EW EXPERT
Latest post on 06 November 2012 - 12:59
I just joined this forum as me and my husband most certainly will have to relocate to Dubai during next year. I read this thread as we want to be able to save money and my question is if you think we are able to do so with a total yearly salary of approx. 530.000 Dirham(that is the total with basic salary, housing- and car allowance). The company will also pay our health insurances and 1 yearly trip home. As we now live in Switzerland I assume that the daily costs will be less than here as food and services are extremly pricy in CH. There isn't any problem you living here with a salary of 530,000 per year as a couple with no kids, if you are not having to pay for housing and you get your flight home paid by the company. On average we spend 2000 per week, this covers food, petrol, shopping and we go out for a cheeky cheap brunch ( we use entertainer vouchers, wherever we can) our car is 2000 per month, we will be paying it off shortly, we don't owe a great deal now. Our utility bills are 1300 a month to include Du home Internet etc. Hope this helps.
1575
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EW EXPERT
Latest post on 06 November 2012 - 12:54
I just joined this forum as me and my husband most certainly will have to relocate to Dubai during next year. I read this thread as we want to be able to save money and my question is if you think we are able to do so with a total yearly salary of approx. 530.000 Dirham(that is the total with basic salary, housing- and car allowance). The company will also pay our health insurances and 1 yearly trip home. As we now live in Switzerland I assume that the daily costs will be less than here as food and services are extremly pricy in CH. No way - not if you want to live well ( and I am from Switzerland) That will not be enough
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EW EXPERT
Latest post on 06 November 2012 - 12:52
Derien..my husband pulls 12 hr shifts plus. I drive hours on school runs and work like a dog here there and everywhere, but for paltry(local hire) money. Only been here 8 weeks so need to keep my eyes open for a decent opportunity. I know there are good opportunities out here but just finding them. In my opinion my DH was naive to say the least when he took job out here - I believe his company 'saw him coming.' LOL I'm just networking like mad LOL. I know alot of people in your positon. You really do need to do the math before you come out here. It can be expensive if your employer is not paying for the essentials. good luck
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EW NEWBIE
Latest post on 06 November 2012 - 12:41
I just joined this forum as me and my husband most certainly will have to relocate to Dubai during next year. I read this thread as we want to be able to save money and my question is if you think we are able to do so with a total yearly salary of approx. 530.000 Dirham(that is the total with basic salary, housing- and car allowance). The company will also pay our health insurances and 1 yearly trip home. As we now live in Switzerland I assume that the daily costs will be less than here as food and services are extremly pricy in CH.
1370
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EW OLDHAND
Latest post on 05 November 2012 - 18:54
Derien..my husband pulls 12 hr shifts plus. I drive hours on school runs and work like a dog here there and everywhere, but for paltry(local hire) money. Only been here 8 weeks so need to keep my eyes open for a decent opportunity. I know there are good opportunities out here but just finding them. In my opinion my DH was naive to say the least when he took job out here - I believe his company 'saw him coming.' LOL I'm just networking like mad LOL.
84
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EW NEWBIE
Latest post on 05 November 2012 - 17:36
Seems to me from what people have said, and my own experience, that children are the expensive part with the high school fees, once they leave school the financial side eases (apart from now being saddled with Uni fees but at least they are lower than the extortionate school fees) We are at last managing to save a decent amount each month, have down-sized and saved on rent money (I've always hated lining someone else's pocket) and our cars are now paid for. Been here seven years though and finally are managing to save. Life here though is of a much higher standard than it would be in the UK. I though food bills were very high here but having compared the prices now in the UK we don't pay that much more especially if you try to buy local produce. KB100 you sound like youre in almost the same position as us but 1 year ahead. Our teenagers have now left school and one is at uni and we have just downsized to a smaller apartment for 2. We've been here 6 years and havent been able to save so far what with school fees and UK debt to clear but that will all start to change now. It think its normal to take a few years to get establised here and get saving what with all the up-front costs and especially if you have kids and havent got a ridiculously high salary
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EW EXPERT
Latest post on 05 November 2012 - 17:27
Derien - I would love my DH or myself to have a job like yours. We don't even earn as much as AED500k a year but have to pay school fees, housing, DEWA, cars (which is why I drive a Lancer LOL), medical insurance, flights. I want your type of jobs lol. You just have to be lucky. We work like dogs during the week and we are always tired but we are here to make money, not for the lifestyle
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EW OLDHAND
Latest post on 05 November 2012 - 17:18
Derien - I would love my DH or myself to have a job like yours. We don't even earn as much as AED500k a year but have to pay school fees, housing, DEWA, cars (which is why I drive a Lancer LOL), medical insurance, flights. I want your type of jobs lol.
460
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EW EXPLORER
Latest post on 05 November 2012 - 16:51
We save 20% of our salary - which isn't very good really! But we like spending money unfortunately, we don't drive a Ferrari or anything like that but have very active social lives and enjoy diving, food, drink and holidays. I think we probably would stay if we weren't saving anything - we are planning to think about starting a family at some point soon-ish and with me working we won't be saving and we haven't talked about leaving. However I guess that is because we know that although we won't be saving we will still be enjoying a good lifestyle - it would be a different story if we weren't saving and were also having to budget ourselves tightly. There are definitely other places I would like to experience though so if it wasn't proving good for us financially to be here then we would probably think about our options. Edited to add that we have been here for 3.5 years and have only actually been saving since the beginning of 2012 due to previous debts and start up costs - good to know that other people are the same because I always imagine everyone else to have been saving since day 1 and have millions in the bank so thought we were doing terribly! <em>edited by dibdab on 05/11/2012</em>
331
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EW EXPLORER
Latest post on 05 November 2012 - 16:42
No. I would never stay here if I was not saving some money!
181
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EW NEWBIE
Latest post on 05 November 2012 - 16:08
Seems to me from what people have said, and my own experience, that children are the expensive part with the high school fees, once they leave school the financial side eases (apart from now being saddled with Uni fees but at least they are lower than the extortionate school fees) We are at last managing to save a decent amount each month, have down-sized and saved on rent money (I've always hated lining someone else's pocket) and our cars are now paid for. Been here seven years though and finally are managing to save. Life here though is of a much higher standard than it would be in the UK. I though food bills were very high here but having compared the prices now in the UK we don't pay that much more especially if you try to buy local produce.
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EW NEWBIE
Latest post on 05 November 2012 - 15:56
This is a really interesting thread, I have often wondered the same. We have been here for three years but spent the first two paying off loans and debts from the UK and are only just starting to save. However, we have three teenagers, they cost a FORTUNE ! This year, their school trips alone add up to aed18,000. The temptation to go out is overwhelming, so much to do and tv is rubbish ! A meal out for two can cost £200 with wine (yes, I know, dont buy the wine !). Everything clothes/shoes wise costs I think about 30-40% more than in the UK, which is just about the tax we save. Even groceries cost so much more, Shreddies with £1.99 printed on the box can cost up to aed25 which is just over double. Its a great life here, we are happy but for us it is really not the place to save a fortune.
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EW NEWBIE
Latest post on 05 November 2012 - 15:26
This is our second year in the UAE and we've saved nothing. We also don't have any debt though, and we live comfortably on just the one salary (which is nowhere near some of the numbers I've seen in this post!) and basically buy whatever we want and travel a couple of times a year. It's not ideal, but it's much better than where we came from two years ago so I'm happy :) As you said, you live comfortably on one salary... which is luxury for many people back home in Europe.
195
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EW NEWBIE
Latest post on 05 November 2012 - 14:46
This is our second year in the UAE and we've saved nothing. We also don't have any debt though, and we live comfortably on just the one salary (which is nowhere near some of the numbers I've seen in this post!) and basically buy whatever we want and travel a couple of times a year. It's not ideal, but it's much better than where we came from two years ago so I'm happy :)
 
 

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