Job Discussion Forums

[canadian-girl]

This is probably a general question, but i was wondering how much i might expect to save per month in taiwan? I have a couple debts here in canada (divorce crapand student loans) so i'll be wiring money back home every month. I tried to clear these up before i left but stuff happens and i wasnt able to. I dont live extravagantly, nor do I go to parties/bars every weekend. So modestly, what am i looking at for saving? Oh, my pay is 55,000/month, 3000 for rent and i do have the option of working outside the school....if need be.

Thank you!

[TaoyuanSteve]

It's really up to you. If you live like a hermit, eat bian dangs (meal boxes with rice, meat and vegies) three meals a day, don't go to pubs, stay away from everything western or imported, maybe up to 40,000 per month is possible for you given how low your rent is. I don't manage to save that much. I tend to live comfortably, buy nice things, enjoy my time off, go out with friends, go to Taipei regularly and so forth. If you are really determined and disciplined, you can save the lion's share of your earnings. Again, it depends on your priorities.

[Dr_Zoidberg]

Wiring money home can be costly in the long run, especially if you're doing it every month. There will be three banks involved (the sending bank, the corresponding bank, and the receiving bank), and each will take their cut. I processed wire payments for BMO for 12 years, when I left them 4 years ago the least one could get away with in bank fees was $40 (sending: $15; correspondent: $10; receiving: $15). Sometimes transactions involve more than one correspondent bank.

$$$KA-CHING$$$

If you're going to be in Taipei toddle on down to the Amex office, or use Western Union. Have someone back home pick up the money at their local Amex / WU office and deposit it into your Canadian bank account.

[Xenophobe]

We banked with HSBC in Kaohsiung and didn't have many problems as they have branches in Canada.

[Big John Stud]

canadian-girl I know how you like to spend money so trust me you will not be able to save any money! Remember everything I have written you turned out to be true! Don't waste money sending money home! You will be broke the day or maybe even a week before each pay day!

[Aristotle]

How much you save depends on you. I would suggest making a written budget and sticking to it.
As far as sending money home there are several ways of doing this.
1. Visa debit card . You put the money into the account here and can take it out wherever you like. They give an excellent exchange rate and will even pay you interest on the money while it is in transit.
2. Credit Cards. These work much the same way as debit cards but they don't pay you interest. Rates and charges vary.
3. Bank Drafts. You pay the exchange rate plus fee. ICBC, HSBC, Citibank and many other banks offer this service. Have the draft made out to your bank back home and send registered mail. Be sure to make a photo copy of the draft before you send it.
4. Travelers Checks. Works the same as a bank draft but there is a flat fee for the checks. An added benefit is that you can authorize two different people to sign the checks. Send them to your family back home and they can sign them and cash them.
5. Wire transfer. Expensive and time consuming but many large corporations prefer wire transfers for security reasons.
With the service charges and the transfer time lag you may be better off using travelers checks and Federal Express to your bank or family.

[canadian-girl]

Big John stud.....how do you know my spending habits? i dont know you, I just find this comment odd. And I have to send money home, I dont want bad credit, and its my responsibility to pay what I owe. I thank you for advice, and you could be right, i might be broke if i send money home, but I prefer to keep my name and credit in good standings. And I'm not sure what you're refering to "Remember everything I have written you turned out to be true!"...i dont recall this conversation.

Everyone else:
Thanks for the advice, I'm gonna go talk to HSBC Monday and see what I can set up. I have money left here in Canada to keep me going for awhile without sending money home, so I'm not in a rush.

[Big John Stud]

canadian-girl you do know me! You are going to be surprise when you find out who I am. We were once very close!

About saving money! Try to save right away!　Don't develop bad habbits from the beginning like going out during the week! Trust me! Most people when they travel abroad spend way to much the first 6 months.

Good luck! I'll see you when you get here. Probably at the airport!

[Hap Thorton]

[kait]

Hey Canadian-girl,

Maybe it's not such a bad idea to change your flight plans, afterall.

[the_p0et]

Hmm... probably your ex-husband!

[Aristotle]

It was bound to happen sooner or later.

[canadian-girl]

Ya, a little odd/strange..still have no clue who you are...

[Big John Stud]

I can't believe how all these people make such stupid assumptions! I know a saying about not to assume, and these people give that saying credibility Can you?
Anyway, you do know me, and you will get a good laugh when you find out who I am. I will give you a hint, we have only talked on the phone about of course, Taiwan!

[wombat]

Big John maybe it would be fairer if you send Canadiangirl a PM and let her know who you are. I realise that this would spoil your surprise, but considering that she is going through the stress of moving to another country, I am sure that she doesn't need the extra concern of who it is that is watching her.

If she's happy to know who you are then that's great. If on the other hand she would rather not have you meet her when she gets here then you can save yourself a trip to the airport.

I agree with the others in that what you are posting is kind of creepy, no matter much we may be missing the point.