Steve_P

Excuse me what have I to do with this?

timballs

Honestly, these threads. I started reading this one as it sounded an interesting topic but as with a lot of these threads it just descends into pages of arguing all because one person offers an opinion that differs to others. I post very little for fear of starting such an argument, and I'm sure others must be the same.

Maybe the moderators need to take more control of threads like these, which start off well-intentioned and descend into the usual depressing trend on this forum. This forum used to be really interesting and informative, which is the purpose of it isn't it?

bodgerx

I take the point that as an immigrant you may well be on a lower salary. I'd have thought it isn't always the case though - I'd certainly take those CBC reports with caution - a lot focus on those with English not as a first language. I saw one report lately that split immigrants into categories. The category with immigrants with a first Degree and English as the first language (after 5 years in Canada) actually had a higher average salary than a Canadian born citizen. I'll post the link later if I can find it.

Depends on where you are coming from in the UK as well doesn't it? If you are from the South East maybe your expectations should be lower for matching your earnings in Canada than if you come from somewhere rural up-north. Then there is the type of industry you are in...lots of factors really...you can't blanket say "you will 100% sure to be earning less".

My point is it is strange to compare cost of living and give a total disposable income on two completely different salaries - not helpful really.

In fact, I would say the aim of someone thinking of moving over at the moment would be to obtain a job on work permit at a salary level equivalent on the exchange rate.

E.g. roughly £30K - $60 CAD.

pgtips

I found this post very interesting, some very good points have been raised.

I would say be mortgage free all the time, however this post definately opens up one's eyes to the reality for some.

I have come to the conclusion it is not just about being maortgage free, but also having some good positive cash flow, and a bit of money in the bank.

So three good thing to aim for is
1 mortgage free (No longer burdened for a good part of your life)
2 Positive cashflow ( So you can still enjoy a good quality of life)
3 Savings. (cushion to fall back on if things go wrong)

dbd33

You may as well say that people should aim for physical fitness, beauty and a love of Mom and apple pie. I suppose everyone aims to have no debts and money in the bank but, for many, life gets in the way.

Paul Wildy

Quite, and the point I was trying to make way back at the beginning of this thread is that its foolish to become too obsessed with being mortgage free. It seems to my that thats the only reason some people move here - so they can be a house outright and be mortgage free comparred with having a large mortgage in the UK. And yet some still end up struggling financially even though they have no mortgage because their pay is lower. Its fine to have debt provided you can comfortably afford it.