The place to ask China-related questions!
Beijing Shanghai Guangzhou Shenzhen Chengdu Xi'an Hangzhou Qingdao Dalian Suzhou Nanjing More Cities>>

Categories

Close
Welcome to eChinacities Answers! Please or register if you wish to join conversations or ask questions relating to life in China. For help, click here.
X

Verify email

Your verification code has been sent to:

Didn`t receive your code? Resend code

By continuing you agree to eChinacities's Privacy Policy .

Sign up with Google Sign up with Facebook
Sign up with Email Already have an account? .
Posts: 209

Governor

0
0
You must be a registered user to vote!
You must be a registered user to vote!
0

Q: Are your financial savings greater here than they would be back home?

11 years 3 weeks ago in  Money & Banking - China

 
Answers (14)
Comments (5)
Posts: 2494

Emperor

0
0
You must be a registered user to vote!
You must be a registered user to vote!
0

Why would anybody want to share their financial information with a complete stranger? I only talk to people about finances that actually take care of it for a living and it's always done in privacy!

MissA:

You don't need to share specifics - simply saying yes or no would be sufficient.

11 years 3 weeks ago
Report Abuse
Report Abuse
11 years 3 weeks ago

There are cookies, bookies and too many rookies for me to sit here trying to be a hooky! Looky Looky don't call me a wooky. Touchy Touchy Feely Feely Spicy Spicy Nicey Nicey & that's what the doctor Ordered!!

 
Posts: 544

Shifu

0
0
You must be a registered user to vote!
You must be a registered user to vote!
0

6,000RMB salary, I save 3,000RMB each month. Back home as a teacher I'd be starting with 22,000RMB per month. While that would require about 2.5x the time commitment, I could spend nearly 90% of my salary and still save more each month living in America. It is much easier to maintain a comfortable lifestyle in China whilst retaining one's frugality, though. And between the spare time and attention from women, I'm not particularly regretful of my decision. I plan on staying for 3 or so years- maybe more, if I can manage to find more work and increase my rate of savings.

Report Abuse
11 years 3 weeks ago
 
Posts: 2381

Emperor

0
0
You must be a registered user to vote!
You must be a registered user to vote!
0

I was on a very high salary for China, and my expenses were very low. At home, I earn roughly double what I earned in China, but my expenses are 4-5 times as high.

 

Overall, savings wise, I'd say maybe China has the edge slightly.

Report Abuse
11 years 3 weeks ago
 
Posts: 19797

Emperor

0
0
You must be a registered user to vote!
You must be a registered user to vote!
0

Yes they are, in the last six months I am in Dalian.

 

I am working around 30 hours per week, with less than 2000 Rmb expenses per month.

 

 

Report Abuse
11 years 3 weeks ago
 
Posts: 9631

Emperor

0
0
You must be a registered user to vote!
You must be a registered user to vote!
0

The real question would be if one is saving up for retirement in China or 'back home'. 

 

In China, I think it would be possible to save up a bigger percentage of income than back home. The savings needed to have a pleasant retirement in China is lower. 

 

As I don't actually have any income this is all a bit academic. 

Report Abuse
11 years 3 weeks ago
 
Posts: 703

Shifu

0
0
You must be a registered user to vote!
You must be a registered user to vote!
0

Doesn't even come close when comparing. I save MUCH more when I am back in Canada. That is one of the hardest things I face when I am in China, just knowing how much money I could be saving if I was back home working. But my time in China is worth every penny.

Report Abuse
11 years 3 weeks ago
 
Posts: 5732

Emperor

0
0
You must be a registered user to vote!
You must be a registered user to vote!
0

been here 3 years, put a thousand dollars a month in canadian oil mlp for income later and still save 50000 rmb a year here, expenses are about 2000rmb  a month for everything. would rather be in taiwan or korea but age discrimination is  my reality. affirmative action kept me out of medical school , so im used to being shit on, comes with the territory

hope the canadian dollars holds up better than the american dollar so i have some money to enjoy retirement, not sure living in a pollution junkyard is a good idea , maybe the philippines , 11 years to go.

 

:

Philippines is not a bad idea. I love that Country. 

11 years 3 weeks ago
Report Abuse

bkmulder:

Any reason why you save back home instead using your legal abilty save tax free?

10 years 43 weeks ago
Report Abuse

ambivalentmace:

saving in america impossible with taxes and cost of living, i do save in other countries with my other foreign passports with different name but this is alot of trouble.

10 years 43 weeks ago
Report Abuse
Report Abuse
11 years 3 weeks ago
 
Posts: 62

Governor

0
0
You must be a registered user to vote!
You must be a registered user to vote!
0

Mostly all expatriates save much more here than in their home country. Surveys says, saving rate in US lowest, Europe, in Asia, people saving rates above 20%. In Singapore, HK, Malaysia you have mandatory system. 

The only question is why most people save back home instead using their legal ability (except Americans, sorry!) to save offshore, portability when you move back home or other Asian country.  You save much more on the long term - Just a suggestion! 

Report Abuse
10 years 43 weeks ago
 
Posts: 7715

Emperor

0
0
You must be a registered user to vote!
You must be a registered user to vote!
0

Yes and no.

 

Obviously, considering exchange rates, probably not.

 

However, as has been said, quality of living is 'better'. Back home, my apartment cost me about $300/week (which is about 2000RMB/week) - so that's about 4x what I'm paying now for about the same sort of apartment (though I'm no longer next to the sea, though I've got a bigger place - and smaller kitchen :( )

 

I worked about the same hours (cos I was casual back home), but getting higher pay cos I was on graveyard shifts over the weekends. Now, those same hours get me about the same money.

 

Food - I spend about 100-150RMB on a night out (like last night), plus a 50RMB taxi.. so 200RMB fully fed (and not quite drunk). That's maybe $30... something I can't do back home! (especially the taxi Tongue)

 

So, savings-wise, about the same...

 

But, I'm doing something I enjoy far more than what I was doing back home!!!

Report Abuse
10 years 43 weeks ago
 
Posts: 46

Governor

0
0
You must be a registered user to vote!
You must be a registered user to vote!
0

I don't know where these answer are coming from.  I could make four times the money in the US, but saving any would be nearly impossible.  It just costs so much to live there.  Here, I save about 80% of my salary.  I am not a big spender and I have a well above average paying teaching job.  Also, the free apartment helps.  If you can't exist on less than 3000 rmb/month in China, you are just not trying to save.  I can easily save money here.  I wish I had discovered China at a younger age.  I could have saved plenty to retire on.

Scandinavian:

yes, because China is the same in all cities and nothing has changed over the last decade. 

10 years 31 weeks ago
Report Abuse
Report Abuse
10 years 31 weeks ago
 
Posts: 821

Shifu

0
0
You must be a registered user to vote!
You must be a registered user to vote!
0

I was teaching here for three years and wasn't able to save anything. I was on a low salary compared to you guys though.

That being said, if I tried I could of probably saved some.

If I was in Asia to save money, I would be working in Japan or S Korea.

Report Abuse
10 years 31 weeks ago
 
Posts: 1198

Shifu

0
0
You must be a registered user to vote!
You must be a registered user to vote!
0

i doubt you can save alot in japan. salaries might be higher but japan is one of the most expensive countries on the world.

 

so anyways... i can probably save more back home, but i also leave out many things which i would never back home.

food expenses here are quite low if you know how to eat. Living expenses as for shanghai is worse than my hometown. In my town can get an awesome apartment for like 400€ a month, in shanghai i live for almost 1000€ in a trashbin.

my cash money here is very high because in germany i pay a lot of tax but this tax is spend on retirement and insurrances... so if anything happens here in china or lose my job i m fucked.

so i earn more but i lose my savety and i have to make my own backup / retirement plan

can save like 80% of my salary here

the biggest problem is i worry too much about money since i m in china... i earn good but yet i always force myself to save and live a poor life lol
back home i didnt care to spend 200€ at a weekend, but if i spend here 2k on a weekend oh god dont wanna think about it

Report Abuse
10 years 31 weeks ago
 
Posts: 1

General

0
0
You must be a registered user to vote!
You must be a registered user to vote!
0

yes for sure.

Report Abuse
10 years 31 weeks ago
 
Posts: 921

Shifu

0
0
You must be a registered user to vote!
You must be a registered user to vote!
0

In percentage, for me it's the same. I always used to save 70-80% of my income either being in my home country or in China. I always been adapting my lifestyle to my income and been a hard saver. But in figures, I save a lot more being here, as I'm working in a senior management position for a Multinational company with the related expat package. Which, at the end of the day, it;'s the only thing really worth to stay here for.

Report Abuse
10 years 30 weeks ago
 
Know the answer ?
Please or register to post answer.

Report Abuse

Security Code: * Enter the text diplayed in the box below
Image CAPTCHA
Enter the characters shown in the image.
  • Allowed HTML tags: <a> <em> <strong> <cite> <code> <ul> <ol> <li> <dl> <dt> <dd> <img> <br> <p> <u>
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
  • Textual smileys will be replaced with graphical ones.

More information about formatting options

Forward Question

Answer of the DayMORE >>
A: It's up to the employer if they want to hire you that's fine most citi
A:It's up to the employer if they want to hire you that's fine most cities today require you to take a health check every year when renewing the working visa if you pass the health check and you get your visa renewed each year I know teachers that are in their 70s and they're still doing great -- ironman510