How many percent of your salary are you able to save? Would you stay here if you couldn't save anything? | Page 2 | ExpatWoman.com
 

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

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EW NEWBIE
Latest post on 05 November 2012 - 14:25
Salsb..wish we could exchange places so i could be in Doha instead!!!...at least you prob. wont be on this thread as you will def. be saving more than here.. Its also a beautiful place..trust me...nothing to be scared about;)
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EW EXPERT
Latest post on 05 November 2012 - 14:03
Sorry just want to add again that it has taken us 3-5 years to get to this level of savings. When we first arrived in Dubai, there were so many up front costs that we actually didn't make any savings.
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EW EXPERT
Latest post on 05 November 2012 - 13:59
I would just like to add that I completely agree with Arch about eating out and brunches etc. It really does add up. Best to do BBQ's with friends etc... much cheaper
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EW EXPERT
Latest post on 05 November 2012 - 13:57
It is possible to save if both are working..... but again, both working is a lifestyle choice it is possible to save if both are working, but very difficult to save 500,000 a year , or even 300,000 unless both are working in really good jobs paying 60-70k on average. Which is our case...for the moment. Both senior level positions with built in bonus. It is possible to save that much if you force yourself to put money away every month and if alot of stuff is paid for by your employers such as tickets home etc... trust me
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EW GURU
Latest post on 05 November 2012 - 13:37
One way of "saving" is to cut back on eating out. You may feel its 200 here and 400 there, but it amounts to a huge sum every year. Another way is to resist the urge to buy a full options car when the first or 2nd trim will do. If you pay 50,000 for options you may recoup 10,000 in resale difference after 5 yrs.
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EW GURU
Latest post on 05 November 2012 - 13:34
It is possible to save if both are working..... but again, both working is a lifestyle choice it is possible to save if both are working, but very difficult to save 500,000 a year , or even 300,000 unless both are working in really good jobs paying 60-70k on average.
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EW NEWBIE
Latest post on 05 November 2012 - 13:27
Very pleased to see that this post has a strong appeal. It's interesting to read how others manage their life. Tried not to ask for figures cause it's very personal but was surprised by the saving of 500k. Its amazing and I guess only possible if both have a very very well paid job. I have the same feeling that more and more people want to come and live here and they are willing to accept less money. It is indisputable a great place to live. We try to find a balance between enjoying life as well as trying to save a bit. I like to compare prices and get a bargain ( even if my DH thinks it is not a good one:))
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EW MASTER
Latest post on 05 November 2012 - 12:44
I know there are many people here on great packages but these are becoming more rare to come by, as are decent jobs. I think there will be fewer ladies of leisure and more 2-income households before long. Also - I find the hardcore savers tend to be extremely tight and live incredibly frugally so it is a huge dedication (eg bringing lunch into work every day, never going out for nice meals, always being the last to buy a round lol!) whereas most people also want to enjoy their lifestyle. I don't think the packages are becoming rare to come by, far from it. I see more and more people moving over here for smaller packages than before. The big packages are still there, but Dubai is no longer only for the elite top executives. Gone are the days of Dubai being seen as a hardship posting. Everyone wants to be in Dubai and they are willing to come for less and less. Hardcore savers are not all living frugally, most of them are earning mega bucks and can afford to save well at the same time as spending well. I couldnt agree more, cost of living has rocketed over the years too
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EW EXPERT
Latest post on 05 November 2012 - 12:42
We save quite a lot, save all his basic salary and live on the rest. Afew months ago I was on a downer, but now hubby has gone to Doha and I will follow him, now dreading it, don't want to move from Dubai. Seriously worried!!!!
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EW NEWBIE
Latest post on 05 November 2012 - 11:58
I know there are many people here on great packages but these are becoming more rare to come by, as are decent jobs. I think there will be fewer ladies of leisure and more 2-income households before long. Also - I find the hardcore savers tend to be extremely tight and live incredibly frugally so it is a huge dedication (eg bringing lunch into work every day, never going out for nice meals, always being the last to buy a round lol!) whereas most people also want to enjoy their lifestyle. I don't think the packages are becoming rare to come by, far from it. I see more and more people moving over here for smaller packages than before. The big packages are still there, but Dubai is no longer only for the elite top executives. Gone are the days of Dubai being seen as a hardship posting. Everyone wants to be in Dubai and they are willing to come for less and less. Hardcore savers are not all living frugally, most of them are earning mega bucks and can afford to save well at the same time as spending well.
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EW EXPLORER
Latest post on 05 November 2012 - 11:56
0%
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EW GURU
Latest post on 05 November 2012 - 11:55
TDB, I have always worked however I had about 5 months maternity leave with both pregnancies. I have struggled with this too, especially the guilt but you may find you probably have more reason to work after no.2 comes along. Kids are expensive and I love to spend time with mine BUT I would rather be in a position to be able to provide for them than spend time at home with them and worry about finances. I also enjoy having my "own thing". They are 2 and 5 now and I am so proud how they have turned out. We have a lovely maid that joined us when DD was 1 and she loves them both to bits. Just try and make the most of your situation. You of course need to juggle more and its all about priorities but its manageable. Enjoy your time you have with them, remember its about quality time spent, not quantity (not necessarily being home all day). Find an excellent helper and be glad if your child is happy with them. Hope it all goes well.
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EW EXPLORER
Latest post on 05 November 2012 - 11:44
I don't save anything. It was never my intention to, though. I came here on a salary [b'>less[/b'> than I made back home, almost purely with the intention to simply travel more. I certainly do travel a lot more than I ever did while living in the states, but in some ways my life back home was a bit more "glamorous" - ate out more, went out/partied more, had purchased more designer items, better flat, etc; the opposite of many people I know here. I'm more of a homebody here and I do feel ashamed at times that I don't save, but I don't mind so long as I'm traveling. Given the opportunity, or if my lust for seeing the world went away, I would likely start saving. I'm just not working in a field that's very conducive to it, hah.
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EW NEWBIE
Latest post on 05 November 2012 - 11:22
I would like to be working :-(
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EW GURU
Latest post on 05 November 2012 - 11:17
Used to save once upon a time...now pay for school fees and mortgage here.... I take mortgage as forced saving, and save 10% a month for university funds!
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EW EXPERT
Latest post on 05 November 2012 - 11:07
We both work. We live in a relatively big house with a pool. 2 kids at school. We manage to save about AED500,000 per year and we also bought a 2 bedroom appt back home which is paying for itself. We are happy. It's a question of choice. We dont eat out alot as the restuarants here are overpriced and average compared to Europe. we dont go on vacaiton every three months like some people I know. We don't buy stupidly expensive cars etc ( I've had the same car since 2007 and it's still running) Some people just don;t know how to manage their finances. It is possible to save if both are working..... but again, both working is a lifestyle choice
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EW GURU
Latest post on 05 November 2012 - 10:53
I think it depends on what you came here for, to save or to enjoy the lifestyle. If you can do both, great for you! Its an expensive place though and things really add up faster than you think so if/when you can save do it but if you cannot, dont beat yourself up about it as long as you hopefully have a long term plan. We do manage to save 50-60% of our combined salary but some months are harder than others especially when you need to factor in holidays, when cheques like rent, school fees are cashed etc. Annual bonuses are saved 100% though. While we are managing to save (although the % varies some months), we will stay.
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EW NEWBIE
Latest post on 05 November 2012 - 10:53
I find this so irritating Arch when people say that. Dubai is not cheap and things like school fees, housing etc all add up. I know there are many people here on great packages but these are becoming more rare to come by, as are decent jobs. I think there will be fewer ladies of leisure and more 2-income households before long. Also - I find the hardcore savers tend to be extremely tight and live incredibly frugally so it is a huge dedication (eg bringing lunch into work every day, never going out for nice meals, always being the last to buy a round lol!) whereas most people also want to enjoy their lifestyle. The only reason I've put my mind to it is because there's a baby on the way and I've barely gone out! I've only really been able to save since I got married - living as a single woman with my own apartment, car and bills meant a lot of my salary got eaten up with that. It's good to know that not all people / families here live on 6 figure a month salaries and save millions while also enjoying a champagne lifestyle! I think this is really well said, when I was working (the first 3 years we were here) we had a lot of commitments back home, so a lot was getting sent back, but we were saving almost half of my salary too, now I'm not working, the debts are pretty much gone, but we're saving very little now. The first few years here there are lots of set up costs and of course we all want to experience life here so we make some "mistakes" in terms of spending. Minimising fixed costs like housing and cars is the only way I can see ( other than my butt getting back to work) that we will be able to up our savings again, we budget very tightly each month, but still allow for some socialising and bits and pieces, but I feel the daily cost of living has gone up dramatically since we came here 4 years ago
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EW GURU
Latest post on 05 November 2012 - 10:18
I have to say I am getting a somewhat mis-placed relief at knowing quite some people are not able to save much. We have not saved much; however most friends and family here say it is easy to save, and say stuff like: "anyone can save 1 or 2 million dirhams in 3/4 years if they are careful" I know people would save 50% quite easily in the 80s and even 90s, but I doubt many people are doing that now
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EW NEWBIE
Latest post on 05 November 2012 - 06:33
We save but I'm sure I wouldn't stay here if we weren't saving. The whole point of us coming here was 1) to spend more time as a family 2) to save money, since number 1 has been a non starter if number 2 wasn't happening we wouldn't be here.
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EW OLDHAND
Latest post on 04 November 2012 - 22:09
We get nothing but i realise this is more and more common. School fees, cheap housing,car, DEWA bills etc, flights, medical insurance take virtually every dirham earned. DH insisted salary offered was more than sufficient. My figures were dismissed. Reality is that my figures were actually conservative and cost of living is even higher than I figured.
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EW GURU
Latest post on 04 November 2012 - 21:17
We managed to live on one salary when I was on maternity leave. So now we don't touch my salary, and still live a great life here. I guess how much you can save depends on how much you earn and what your package covers here ie. schooling/housing/DEWA/petrol/car allowance/tickets home etc. <em>edited by flydiver11 on 04/11/2012</em>
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EW NEWBIE
Latest post on 04 November 2012 - 21:12
Yes, I'd stay without a savings. LOL
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EW OLDHAND
Latest post on 04 November 2012 - 20:31
Yep..if we didn't have school fees to pay we could live less frugally and still save.
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EW GURU
Latest post on 04 November 2012 - 20:13
Most people we know with kids aren't saving anything because they're having to pay for rent, school fees and the rest out of their own pockets. Those of our friends who *are* saving are those without kids, and those with kids whose companies pay for rent and school fees, which is only a handful of the people we know.
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EW OLDHAND
Latest post on 04 November 2012 - 14:19
I wouldn't stay if I couldn't save anything...what would be the point? But this is only assuming I could save elsewhere.
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EW EXPLORER
Latest post on 04 November 2012 - 14:13
Oh this is THE hot topic in our home. We are not able to save much as we are paying for the children's education and with all three in school this year, it is something we keep talking about. We could move out of our villa and save from the housing but the kids enjoy compound life and need the space to run around etc. I don't want to go anywhere as I like being here but DH is on another page. I will cross the bridge when it comes!
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EW MASTER
Latest post on 04 November 2012 - 12:16
The first few years I was here, I partied, spent all my money and didn't save a bean! The last year I have been really disciplined, lived really frugally and am saving about 30 - 50% of my salary every month - am shocked at how much I have managed to save and wondered what on earth I was spending all my cash on previously! Depends on your lifestyle I suppose and how you live. Now things like brunches etc are a very rare treat whereas previously it was every weekend! :) Hehe! Sounds like us. We spent money like water the first few years. Partying,brunches and outings. Didnt save a cent. Now that we have children we count every cent and we are just to tired to party our go out for brunch! Lol!
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EW NEWBIE
Latest post on 04 November 2012 - 12:15
We don't save anything at the moment as have been paying school fees and now even higher university fees. This will change in the future though as these expenses are temporary. However, we live a far better lifestyle than in the UK and have far better jobs so definately not going back anytime soon. Looking forward to saving next year
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EW OLDHAND
Latest post on 04 November 2012 - 11:58
we're saving nothing and living frugally...don't ask! Used savings as well.
 
 

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