is this budget reasonable
Oct 30th 2008 | 4:49 am
#16
Joined: Jul 2005
Posts: 15,883
Re: is this budget reasonable
I calculate it at $3,412.17 per month assuming working 40 hours a week for 50 weeks and 2 weeks vacation (and all paid stats).
It is an effective total tax rate (including CPP and EI) of 21.26%. I think you are too pessimistic. For most wage earners it is safe to think about losing 25% is closer for a rough guide.
It is an effective total tax rate (including CPP and EI) of 21.26%. I think you are too pessimistic. For most wage earners it is safe to think about losing 25% is closer for a rough guide.
I based mine on what I remember taking home prior to retirement, but this included provincial health care, supplementary health care, union dues, and company pension none of which is included in the 21%-25% figures.
Oct 30th 2008 | 5:15 am
#17
Thread Starter
Just Joined
Joined: Oct 2008
Posts: 13
Re: is this budget reasonable
hi again...cheers for the comments.. all welcome
We have chosen to live (work dependant) in grimsby as we have friends there. We feel that this support would be invaluable....it certanly has so far.
The costs we mentioned have been taken from our friends accounts who live in grimsby and have a larger more expensive property than we are looking at so i know them to be very close to what we would be paying.
obviousily we cant account for food and habbits but regarding essentials i am informed we are pretty close. I find it strange that others in ontario have different bills....just proves chumleys comments that it definetly varies hugely as mentioned.
Suppose we are lucky to look at costs right where we want to settle.
I havent added on union fees, savings for kids etc..and will look into it further Thanks
The main reason for this costing this up approximately on minimum budget was to check if we could even go ahead and emmigrate. I feel that we can do this as so many others have.
Maybe i am underestimating my earning if anything. I have a skilled trade with 7 years college education to HND level and my partner is qualified to ONC level. We will have approximately $100,000 to bring with us and there would be huge potential for my partner to work aswell as my work almost always having overtime (in uk)
thanks again for the help....definetly usefull.....not changed my mind yet...
STILL COMING TO CANADA hehe
We have chosen to live (work dependant) in grimsby as we have friends there. We feel that this support would be invaluable....it certanly has so far.
The costs we mentioned have been taken from our friends accounts who live in grimsby and have a larger more expensive property than we are looking at so i know them to be very close to what we would be paying.
obviousily we cant account for food and habbits but regarding essentials i am informed we are pretty close. I find it strange that others in ontario have different bills....just proves chumleys comments that it definetly varies hugely as mentioned.
Suppose we are lucky to look at costs right where we want to settle.
I havent added on union fees, savings for kids etc..and will look into it further Thanks
The main reason for this costing this up approximately on minimum budget was to check if we could even go ahead and emmigrate. I feel that we can do this as so many others have.
Maybe i am underestimating my earning if anything. I have a skilled trade with 7 years college education to HND level and my partner is qualified to ONC level. We will have approximately $100,000 to bring with us and there would be huge potential for my partner to work aswell as my work almost always having overtime (in uk)
thanks again for the help....definetly usefull.....not changed my mind yet...
STILL COMING TO CANADA hehe
