How many SP's actually save money?
- Thread starter fuji
- Start date
I don't believe that's true in all cases. For instance, I know an SP who has a degree in commerce, so I'm sure she knows that importance of saving and investing. If she uses her earnings as an SP to her advantage, she will be well off regardless. Then, when she enters the corporate world, she can be assured of making a competetive civillian salary as well.MLAM said:
If you are cleverly suggesting that I'm arguing both sides, I absolutely am. But since you are obviously missing the point, let me try once more for you, using your "toast" analogy. You want a nice, peaceful breakfast? It's probably much better to try and reach just a little colour on both sides of your toast, than it is to go about burning the heck out of one or the other with a blowtorch.Dani said:
That's my point. Lots of folks here saying lots of stuff that could be dangerous for the poor ladies who lack your obvious abilities in the area of "staying out of trouble" - on one side, evading taxes is the most dangerous, in my opinion; but, on the other side, aggressive filings and openly confessing crimes to the Government aren't that much better.
Still don’t get it? Perhaps another analogy you might understand... the situation is very much like the tenuous balance between massage parlours and local law enforcement. Technically, what happens in massage parlours could be seen as... well, let's just say "dubious". If you play nice, use a little discretion, and don't cause problems - it is tolerated. If, however, you decide to ignore the regulators completely... or, worse, if you start flaunting things, calling them on technicalities, or just pissing them off in general (remember they are people, too), they have considerable latitude to make your life difficult.
Exactly the same is true with CRA - only THEIR capacity for creating problems for you is appreciably higher. So, you can believe (as a lot are suggesting) that "jousting windmills" on either side is a good idea when dealing with them, or you can be a little more pragmatic (like others are advising). I'm suggesting the latter, but feel free to try any approach you like.
Seeing as I have no real interest in what further revelations your coffee maker or dishwasher might next offer you, I will bid you Good Day, Madame.
P.S. I think I'm beginning to understand the sudden demise of IT. Shame, really... I used to like that place.
Fuzzy you have my complete agreement: after all Big Al Capone would not have ended up where he did were it not for tax evasion.
Now as for my coffee maker it has a serious bias towards good but somewhat bland therefore taking the safe route.
My dishwasher kinda cleans everything so that there is nothing"dirty" left and that my friend is a good thing.NO???
IT was a great place and yes I miss it too but life goes on, as they say, and to dwell on the past will only affect my thoughts on the future.
I have no further revelations as I bid you "good morrow sir"
The expense of spirit in a waste of shame
Is lust in action; and till action, lust
Is perjured, murderous, bloody, full of blame,
Savage, extreme, rude, cruel, not to trust,
Enjoy'd no sooner but despised straight,
Past reason hunted, and no sooner had
Past reason hated, as a swallow'd bait
On purpose laid to make the taker mad;
Mad in pursuit and in possession so;
Had, having, and in quest to have, extreme;
A bliss in proof, and proved, a very woe;
Before, a joy proposed; behind, a dream.
All this the world well knows; yet none knows well
To shun the heaven that leads men to this hell.
Now as for my coffee maker it has a serious bias towards good but somewhat bland therefore taking the safe route.
My dishwasher kinda cleans everything so that there is nothing"dirty" left and that my friend is a good thing.NO???
IT was a great place and yes I miss it too but life goes on, as they say, and to dwell on the past will only affect my thoughts on the future.
I have no further revelations as I bid you "good morrow sir"
The expense of spirit in a waste of shame
Is lust in action; and till action, lust
Is perjured, murderous, bloody, full of blame,
Savage, extreme, rude, cruel, not to trust,
Enjoy'd no sooner but despised straight,
Past reason hunted, and no sooner had
Past reason hated, as a swallow'd bait
On purpose laid to make the taker mad;
Mad in pursuit and in possession so;
Had, having, and in quest to have, extreme;
A bliss in proof, and proved, a very woe;
Before, a joy proposed; behind, a dream.
All this the world well knows; yet none knows well
To shun the heaven that leads men to this hell.
I can tell you why they are broke all the time.
A dancer that I know use to make $600 on a slow night and as much as !$1500 on a good night. Has a house with about $120,000 equity in it, but not much more. The reason why she is broke all the time is that she takes taxis everywhere she goes. She buys everything she sees, and she eats out as often as possible. When she eats in, it is prepared foods or take out. She has a house keeper and another girl to wash her clothes for her. Thats why thaey are always broke.
A dancer that I know use to make $600 on a slow night and as much as !$1500 on a good night. Has a house with about $120,000 equity in it, but not much more. The reason why she is broke all the time is that she takes taxis everywhere she goes. She buys everything she sees, and she eats out as often as possible. When she eats in, it is prepared foods or take out. She has a house keeper and another girl to wash her clothes for her. Thats why thaey are always broke.
No that's called tax evasion. The CRA has set its sights on UBS and tax evaders will be lined up one by one with new boyfriends in jail. Cash-strapped governments with massive deficits will be heavily targeting offshore accounts. A legal loophole is to actually move offshore and become non-resident. It ain't so bad in the Bahamas.
Beware of the "Departure Tax". Happened to a co-worker when he was transferred to the U.S.
It's not too difficult to put together... read the millionaire next door for an explanation. I make over $160k /yr and have a difficult time affording daily expenses... because of my occupation, I am expected to look a certain way, live in a certain neighbourhood, attend functions, buy certain clothes, cars, etc... I am trying to change, but losing the battle. I have been trying to become more frugal for over 10 years. ain't working out very well, though.
My guess, is that I make more $$ than the average top dancer or top escort in the gta... just a quick guess as I have nothing to compare it too. So, I understand how there will be many varying responses in how and if or not escorts, SPs, dancers, MPAs ever get to save money or not.
I feel it is best to explain my situation with real figures:
my financial snapshot:
Annual Expenses
Income Tax- $71,360
Mortgage- $27,090
Condo Fees- $9,346
Property Tax- $5,996
Utilities, Cable, Phone- $3,340
Home, Car Insurance- $3,884
Pet Expenses- $940
Entertainment- $7,200
Clothing- $7,600
Travel- $2,400
Hobbies- $2,000
Charity, gifts- $1,200
Professional, business costs- $2,200
Miscellaneous- $5,000
*Miscellaneous for adult hobby- $15,000
General savings- $28,800
Assets
Condo- $550,000
RRSP- $0 (new to Canada, will start saving this year)
Pension- $38,000
TFSA- $0 (will start this year)
Non-registered stocks- $19,334
Liabilities
Mortgage- $373,852
net worth $233,482
btw- it was alot more easy to save money while living in Pittsburgh, so I was able to save fairly well up until last year. Though, I don't know how all you Canucks do it? Help me out! The biggest difference was going from paying under $27k in income tax to IRS to paying over twice that to CRA!
My guess, is that I make more $$ than the average top dancer or top escort in the gta... just a quick guess as I have nothing to compare it too. So, I understand how there will be many varying responses in how and if or not escorts, SPs, dancers, MPAs ever get to save money or not.
I feel it is best to explain my situation with real figures:
my financial snapshot:
Annual Expenses
Income Tax- $71,360
Mortgage- $27,090
Condo Fees- $9,346
Property Tax- $5,996
Utilities, Cable, Phone- $3,340
Home, Car Insurance- $3,884
Pet Expenses- $940
Entertainment- $7,200
Clothing- $7,600
Travel- $2,400
Hobbies- $2,000
Charity, gifts- $1,200
Professional, business costs- $2,200
Miscellaneous- $5,000
*Miscellaneous for adult hobby- $15,000
General savings- $28,800
Assets
Condo- $550,000
RRSP- $0 (new to Canada, will start saving this year)
Pension- $38,000
TFSA- $0 (will start this year)
Non-registered stocks- $19,334
Liabilities
Mortgage- $373,852
net worth $233,482
btw- it was alot more easy to save money while living in Pittsburgh, so I was able to save fairly well up until last year. Though, I don't know how all you Canucks do it? Help me out! The biggest difference was going from paying under $27k in income tax to IRS to paying over twice that to CRA!
One of the guys in my company grosses over $1million a year but is always broke. Why? He has to keep up appearances. Big house. A trophy spendthrift wife. 3 big cars. 4 kids attending U.S. universities, each with their own car. Plus, he spends over $100,000 a year on his mistress (condo, car, fur coats, etc.).
I started a thread about how SP's got their start in this business about a year or so ago. One SP said she was homeless so decided to get into this business to make money. Paid off all her debts. Then with the help of a nice client bought an agency which is now one of the largest in the GTA. If you can find that thread, you will also find out who is this lady.
BTW I think almost everybody is broke. I put some items up for sale on CL. 98% of the enqueries came from people who had no money but lots of time to call people like me trying to sell some stuff for money.
You know that "ugly wench" in that picture is Dani herself, do you?
BTW, WRT SP/MPA saving money, many of them are reminiscent of top pro athletes who got carried away of sudden big inflows of cash in early 20s, only to be in financial distress within 25 years once their career is long gone due to age, injury, years of irresponsible spending and faulty money management.
Having said that, not all SP and MPA behave that way but given the epidemic on instant gratification in all walks of life, it only make the situation worse.
It is not easy to answer.
You will not have any moral authority to lecture the way SP or MPA save her money if you are fiscally irresponsible just like her.
OTOH, you will be on her target if she discovers you save, accumulate significant wealth, have minimal, even no debts and still single.
BTW, such dilemma is equally applicable to dating civilian women.
nope. it is just me that contributes currently. I may be living beyond my means, but how come I make alot more than the average household yet struggle with average expenses???
which do you think are beyond my means... everything seems average too me, ie, my mortgage payment is under $1400/mth and I make over $160k/yr. yet, all the figures are there, again:
Annual Expenses
Income Tax- $71,360
Mortgage- $27,090
Condo Fees- $9,346
Property Tax- $5,996
Utilities, Cable, Phone- $3,340
Home, Car Insurance- $3,884
Pet Expenses- $940
Entertainment- $7,200
Clothing- $7,600
Travel- $2,400
Hobbies- $2,000
Charity, gifts- $1,200
Professional, business costs- $2,200
Miscellaneous- $5,000
*Miscellaneous for adult hobby- $15,000
General savings- $28,800
Assets
Condo- $550,000
RRSP- $0 (new to Canada, will start saving this year)
Pension- $38,000
TFSA- $0 (will start this year)
Non-registered stocks- $19,334
Liabilities
Mortgage- $373,852
net worth $233,482
*** when I lived in the USA, I was able to save alot easier, things were less expensive, definitely lower house costs, car costs, food and TAXES... but, is that what it means to be Canadian? to live with so much less???
The U.S. benefits from economy of scale because of its large population base (310 million legal and 70 million illegal). However, your portion of the U.S. national debt is much higher.
I agree that if you go tax free your screwed. To have assest without getting in troble you have to delcare you income as something . . or some portion. Unless of course you buy stuff off shore in cash. But most of the girls seem to start young, many are really bright, but like 99% of people have no idea about investing and saving and such. I ve seen other high income earners have the same problem - think of Tyson who in his film said "30million, i Lost it somewhere but who cares, its just petty cash" -that's a paraphrase but he was being serious.
These businesses require high initial capital and ongoing overhead. One of my dancer friends went into interior decorating and event planning. All she needs are 2 years at a college, a cellphone and a car. Very little capital outlay and no infrastructure costs. BTW I think tanning salons will be dead in the water soon.
