Don't own a house....rent .....800/month.....all included
Don't own a car .........rent......120/month.....only on weekend, 30/day
Food..........................................300/month for 3.
TTC 100/month
Misc...........................................100/month
Total 1420 * 12 = 17040.
RRSP 60000*18% = 10800
Tax 60000*20% = 12000
.....after deduct RRSP&personal credit for two(spouse&applicant)
60000-(17040+10800+12000) = 60000 - 39840 = 20160
And RESP is from after tax money, considered as part of the saving.
How is that?
This is real hard time for new immigrant to build up his financial fundation. After two or three years, he can use the saving to own a property, it can be a house, condo or townhouse, and a corolla maybe.....then NO CASH saving anymore.....that is the Canadian life.
Don't own a car .........rent......120/month.....only on weekend, 30/day
Food..........................................300/month for 3.
TTC 100/month
Misc...........................................100/month
Total 1420 * 12 = 17040.
RRSP 60000*18% = 10800
Tax 60000*20% = 12000
.....after deduct RRSP&personal credit for two(spouse&applicant)
60000-(17040+10800+12000) = 60000 - 39840 = 20160
And RESP is from after tax money, considered as part of the saving.
How is that?
This is real hard time for new immigrant to build up his financial fundation. After two or three years, he can use the saving to own a property, it can be a house, condo or townhouse, and a corolla maybe.....then NO CASH saving anymore.....that is the Canadian life.