| Pages in topic: < [1 2] | Poll: Does your income allow you to save? Thread poster: ProZ.com Staff
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I love this surveys because every time your answers teach me a lot about translating.
So today, I am glad I can hint you a little bit on saving.
(I erased 25.000$ of debts in 2 years so I know what I'm talking about
We all have our own Life challenges when it comes to saving $.
I don't have kids and I live at my mom's but I assume you don't face the same challenges as me neither.
S... See more
| | | | Tim Drayton 
Cyprus
Local time: 22:26
Turkish to English
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| Not always true | Mar 11, 2013 |
Gregory Berge wrote:
Saving money doesn't depend on your income.
It does to an extent.
There is a minimum amount of money that you need to meet the bare necessities, and if you can't earn at least that much, you can't save.
In fact, if you earn less than that much, you have to start running down your savings.
| | | | Tatty
Local time: 21:26
Spanish to English
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| The choice is always yours | Mar 11, 2013 |
Nowadays, you can choose the size of your family... You can also choose what kind of accommodation you wish to live in and the location, bearing in mind your budget.
If you are not making enough to make ends meet then you have a choice. You can either reduce your basic living costs or try to supplement your income with another activity.
What's more, when you have built up a little nest egg, you can start being more picky about the jobs you take. This will allow you to c... See more Nowadays, you can choose the size of your family... You can also choose what kind of accommodation you wish to live in and the location, bearing in mind your budget.
If you are not making enough to make ends meet then you have a choice. You can either reduce your basic living costs or try to supplement your income with another activity.
What's more, when you have built up a little nest egg, you can start being more picky about the jobs you take. This will allow you to chase higher rates.
[Editado a las 2013-03-11 12:21 GMT] ▲ Collapse
| | | | | Always save something | Mar 11, 2013 |
Vadim Kadyrov wrote:
even 10 dollars per month is OK - it will be 120 USD at the end of the year. Extra 120 USD!
Good book to start with - "Making Millions For Dummies"
(the name is rather pretentious, I know, but it is worth reading).
Yes, I am saving: short-term savings for things like car repairs, long-term savings/emergency fund, and retirement savings. Not huge amounts anywhere, but enough to feel that we have a small safety net. It's a long story, but my husband's pension is insecure; I am freelance and hoping Social Security will still be around; university tuition is exploding, and we have two kids. Even with some savings we expect to be working for a good long while.
PS Vadim, the book I always recommend is "Your Money or Your Life" by Vicki Robin and Joe Dominguez. I will have to take a look at your recommendation!
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Luca Tutino
Italy
Member (2002)
English to Italian
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| Different worlds | Mar 11, 2013 |
Gregory Berge wrote:
10% for taxes
LOL !!!
| | | | Sheila Wilson
Spain
Local time: 20:26
Member (2007)
English
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| I don't try any more | Mar 11, 2013 |
I see life in phases:
When you're young, you see no reason to save
When you're settled, with maybe a young family, there is every reason to secure the future, so you do save
When you're nearing retirement, and if things have turned out reasonably well, why not enjoy what's left of your life?
At 57, I'm no longer making any attempt to save. I have paid-for property in two countries, bank accounts in three - none of them are worth that much (no mansions or any... See more I see life in phases:
When you're young, you see no reason to save
When you're settled, with maybe a young family, there is every reason to secure the future, so you do save
When you're nearing retirement, and if things have turned out reasonably well, why not enjoy what's left of your life?
At 57, I'm no longer making any attempt to save. I have paid-for property in two countries, bank accounts in three - none of them are worth that much (no mansions or anything like that), but what I've got should last me now. I'm not anxious to leave anything other than property to my two adult kids: I'm sure they can make their own way in life.
So, I'm not doing anything (too) wasteful with my money, but I'm not consciously saving either. ▲ Collapse
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John Cutler wrote: It'd be a discredit to my frugal New England roots if I didn't! 
Indeed!
| | | | Enrico Zoffoli
Italy
Local time: 21:26
Member (2013)
German to Italian
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Luca Tutino wrote: Gregory Berge wrote:
10% for taxes
LOL !!!
I had quite the same reaction
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Josef Šoltes
Czech Republic
Local time: 21:26
English to Czech
Thats quite possible, as tax is maybe 15 percent, but only from tax base - you deduct your costs. So yes, he can save only 10% on taxes...
| | | | Lanny Widianto
Indonesia
Local time: 02:26
English to Indonesian
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I did not save in the beginning, but now I use the tactic of forced savings. Most of my clients use Paypal to pay, so when I withdraw money from Paypal, I split them into 2 accounts, one for cost of living, and one for savings, never to be touched or even looked at.
This way, in my mind, I only earn whatever amount I have in my cost of living account, and adjust my expenses accordingly. It is hard with kid though. I live in Indonesia, where standard of living is lower than Europe an... See more I did not save in the beginning, but now I use the tactic of forced savings. Most of my clients use Paypal to pay, so when I withdraw money from Paypal, I split them into 2 accounts, one for cost of living, and one for savings, never to be touched or even looked at.
This way, in my mind, I only earn whatever amount I have in my cost of living account, and adjust my expenses accordingly. It is hard with kid though. I live in Indonesia, where standard of living is lower than Europe and U.S., but raising kids is expensive anywhere. ▲ Collapse
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