Job Discussion Forums

[Non Sequitur]

I note that the OP hasn't indicated that he/she wishes to accumulate savings at home.
If the savings are to be put toward doing something entrepreneurial in China, then the exchange rate isn't a consideration.

[teachingld2004]

OP, you havae an online job at home? Most likely you will not be able to keep it because of the time. Here for eample, w hen it ism 9am it is 9PM in NY You may be working when you are supposed to be on line, or you may have to talk at 3am. I would not count on keeping that 20dollar an hour job.

And as some people have said, SKYPE works not so good here, but in Hong Kong there seems to be no problem. I am in a small city.

Saving depends on so many things. Number one where you live,a nd number 2 what you like spending your money on A cup of coffee on the outside can cost 23rmb.

I know new people ask questions, and they should, but a lot of the answers you will get depends on where you live. Where I live I do not spend a lot of money. I make my own coffee, I cook. I do not drink (well, I drink, but not often)

People talk about their part tie jobs. I have a part tie job and so far I have not touched my paycheck. So, think about your life style,, and then thnk about where you want to live.

My friend has a girlfriend and I think he spends around 2000rmb a month on her. He complains to me, and when I tell him to drop her he tells me she is SO good in_ _ _. Nothing else needs to be said

[weigookin74]

[kungfuman]

[Voyeur]

I wish to save in Canadian dollars--but I fail to see how the exchange rate is an issue, since if the RMB is undervalued, all I can do is gain.

I understand location matters for cost of living. Are the greater expenses in bigger cities primarily a matter of higher rent, or are other things significantly more expensive in Shanghai/Beijing?

My Skype lessons are in Asia and Russia. The timing would work out on enough of them--exactly how many would depend on when my Uni classes are.

[teachingld2004]

Kung...
Your friend must get a terrific salary to pay his gf 5000 a month. She is either amazing, or he is a looser. Anyway, enough of that.
Saving money is hard/simple, depends. And I am not sure about the canadian dollar, but here just over 6rmb equals one dollar, so the money exchange rate is not good. But if you keep your on line students, you can save yur whole pay check (maybe)

[Non Sequitur]

[Voyeur]

I agree that exchange rates are always a consideration. I just didn't see why the fact that people were saying the RMB was undervalued was particularly problematic for me.

I do suppose that if I bank in Canada, and then decide I want to stay longer--or even permanently--it could become an issue. I might suddenly want to move some of my savings back to China and find that they are worth a lot less.

[Non Sequitur]

I think I or someone else has mentioned saving in China to execute some entrepreneurial project or other.
That is why it was good to see someone offering to sell a suite of private students recently. This is a kind of capital formation and could get FTs out of their commodity serfdom.
That said, pundits on the forum don't see the extended residency proposals (1 year to 5 years) as impacting on FTs.
China being what it is, a Chinese business 'partner' could see non-renewal of residency as a way of pressuring a laowai to sell his/her interest in a business at fire sale rates.
Everyone knows stories of laowai partners being stiffed by Chinese.
Bit off topic, but if you are saving to start a business - be careful.

[DirtGuy]

OP,

I work at a uni in the middle of nowhere and this is good for saving money - there is nothing to buy or really do here so no need to spend much money. However, when I go to BJ, the money just flies out of my pocket. It is costly up there and the temptations to spend are everywhere.

I send money back to the States every month and I love it. The RMB keeps going up while the dollar keeps going down. It is a slow trend but a trend nonetheless. I get a raise without having to do anything.

Side work is what keeps me going. I live on side work and bank what I make at the uni. Just got hired for another job and that will, within a few months, triple my pay. I'll be sending at least $1,500 back to the States every month. There is no way I could ever do this had I stayed in the good old US of A. Personally, I would be hesitant to save large amounts of money in this country. Got no love for the States but it is still a reasonably safe place to stash money.

My Internet sucks even with paying for a faster connection and using a vpn. Do not assume you can continue your lessons.

I have looked at investment opportunities here and they are everywhere. What holds me back is the thought of getting screwed by a Chinese partner. I think it is safe to say that I will get screwed if there is ever a dispute. Do I need this or should I invest in America despite all its problems? I know you are from Canada, but the logic should be the same.

DirtGuy

[roadwalker]

[ecubyrd]

I seem to be one of the few that posts here that works an FT (by western standards) job. I have no idea about working at Chinese unis other than what I read here.

I'm able to save 2000+usd per month after all of my expenses at my job in Shanghai working a M-F, 8:30-4, 190 day school year. I don't do private lessons. I don't live in campus/provided housing. I teach 22 classes (14.5 hours per week). I have office hours for the remainder of the time up to 40 hours.

I have money in rmb and usd in my Chinese bank account. I also keep an account in my home country that I send money to periodically. I get what the other poster is going on about with the exchange rates and all, but in my time here the yuan has not gained enough to justify keeping all of my money here in rmb. I feel safer with large amounts in the bank back in my home country.

[Non Sequitur]

[Voyeur]

[Non Sequitur]