Money or lack of
 

Hi all so far you have all been so helpful so here is another one for you.:thumbup:

We are desperately trying to save enough money to come out next spring/summer but every time we get ahead with savings something breaks etc and we have to use our savings.

We think about ten thousand pounds should be enough but are no where near that yet. Whats the minimum we could get away with? We have not secured jobs yet but have been accepted for PR. We are looking to move to Kamloops.

If anyone can think of any get rich quick schemes that would also help lol.

Re: Money or lack of
 

How much money do you think you need to live on without a job for a year? Save that amount and then double it ;)

Re: Money or lack of
 

Just out of curiosity....how do you get PR...with no jobs?
And not even living there yet?

As for the money...I wouldnt have a clue! Hoping to sell our property before we move :)

Andy

Re: Money or lack of
 

I wouldn't want to only have $16k for the year. But it's probably possible if you don't mind living in somebodies basement and not having a particularly opulent lifestyle.

Re: Money or lack of
 

We are not to worried about starting agin form the ground up.

We went through the application process and were accepted due to our qualifications he's a plumber and Im a social worker, that alone has cost us thousands, also the way the building trade is in England has meant that he has spent about six months out of work last winter which meant that any money we had saved was used to keep a roof over our heads. We could sell the house but do people think this is a good idea considering british house prices and we also are not keen in totally burning our bridges in case it doesn't work out.

Re: Money or lack of
 

Coming without a job you are going to need a minimum of $13,801 in order to land...
http://www.cic.gc.ca/english/immigra...lled/funds.asp

Anything more than that is a bonus of course, but $13801 is the bottom line for two people.


Selling the house is normal isnt it? If it doesnt work out then you come back to the UK and buy another. You just said "We are not to worried about starting again from the ground up.", surely that applies to returning to the UK as much as it does starting in Canada, so why handicap yourself. Your house is worth whatever it will sell for, no more no less. What it was worth three years ago doesnt matter, what it will buy in Canada is equally irrelevant.

Besides, having a place to run back to at the first sign of trouble is as likely to make settling in Canada permanently harder rather than easier.

Re: Money or lack of
 

Just to add to what Iain said about the proof of funds, don't forget that the amount goes up a bit each year so more will be required after January.

:)

Re: Money or lack of
 

Is that 13.008 in Canadian or English money.

House prices have really dropped here at the moment and we will only get 15 or 20 grand equity. Because OH is self employed the house is a bit like a retirment fund and we were thinking of renting it out but only for a year as a security blanket, we are totally committed to coming out but also a bit skint. So do you think selling would be the best option.

Re: Money or lack of
 

Me neither.

For the OP, if i were looking to jump ship before blagging a job, i'd carefully research the cost of living when factoring in:

Moving fees
Flights
Medical insurance
Rent
Bills
Food
Entertainment
Car
Insurance (Car/Building/Content)
Dental
etc
Etc

Then whatever you think you can live on, double it :)

Personally, as Alan2005 says, £10 won't last very long, in my opinion.

Re: Money or lack of
 

Canadian - have a look at the link Iain gave you. Are there just two of you, or do you have kids as well? If so, more will be required as per the table in the link.

It's worth considering that that amount cannot include your moving costs (as you'll have to show it when you land, so by then you'll have paid for your shipping/flights/insurances etc), and is generally considered to be on the low side.

Re: Money or lack of
 

We are going to sell up completly once we get the nod that its ok to come over. I have lodgers now and have enough experience of people renting off of me to know that even if I pay someone to look after our place its still a load of hassle and expense I can do without...especially when so far away.

That means we would be able to bring funds with us..my partner will be guaranteed work anyway once everything is sorted so it will be me (A Welder/Steel erector/Draughtsman) who is looking for work when we arrive unless I am fortunate to find something prior to that.

Were both going to need transport also so thats an expense thats needed to be taken into consideration so thats another good reason to sell up and have the funds available. Never been a quitter and always give 110% to everything Ive ever done so seems silly not to give it its best shot. Returning if god forbid it happens will be a load easier than leaving is im sure!

Re: Money or lack of
 

Why is everyone saying the OP wont have a job for a year?

Re: Money or lack of
 

I think you have all raised some really good points here. We have one three year old daughter.

I have always wanted to sell but to be honest its the OH that has not been so keen (wanting to keep the house).

He's really stressed about the whole financial situation and we had "words" about it this morning, he thinks we wont be able to afford it where Im more inclined to sell up and give it a go.

I think we have until about June 2011 to get out to Canada.

Re: Money or lack of
 

OK, so you actually need more - approx $17k at the moment, but that will likely go up to about $17,500k by the time you come to land, which is around £11k at today's exchange rate. So you'll need that as a minimum in your bank when you land next year.

You have a year from the date of your medicals in which to land, but don't forget you don't actually have to move then. You can come back to the UK for up to 3 years after that if you wish to save more money before going over for good.

:)

Re: Money or lack of
 

Im not sure they are, its more of a "what if", and quite a sensible approach I would say, especially in the current economic climate.