No matter how much we strive, it becomes close to impossible to save up a good amount of money by the end of the month. Most people struggle to keep up with their financial commitments and prioritise the essential needs. But this Pakistani man residing in the US manages to save up to 75 percent of his salary. He has done so not because he planned his finances well or has no expenses at all, but simply by moving in with his parents.
Sal Khan works a day job at a tech company in the US and earns approximately Rs 1.7 crore per year. Additionally, he has a return of about Rs 7 lakh from his four investment properties. He started saving almost 75 percent of his income by moving in with his parents in Houston, Texas during the pandemic. In an interview with CNBC Make it, Sal Khan narrated that he was born and raised in Pakistan as the youngest of five children. He was 17 years old when his parents relocated to the United States. Sal was quite young when his other siblings began to move to the US and eventually his parents decided to come along in order to assist his sister with her child. They also began the process of obtaining a Green Card.
Sal Khan remained in the care of his grandfather for ten years, until his parents sponsored his visa in 2013. He added that post moving to the States, he studied banking and economics at Ohio State University and worked in California for a few years before the pandemic. His house lease expired in August 2020, and because he could work remotely, he decided to find an apartment in Houston so he could live closer to his parents. His parents, however, offered to move in. Sal stated, “I do think my relationship now has been the best with my parents than it has been before.” After spending 10 years away from his parents, he saw this as an opportunity to develop their bond. He also added that “there is a cultural aspect to it where, as a son, it’s required that you take care of your parents.” Even his siblings have moved to Houston.
Sal Khan informed the publication that he does not pay specific bills but does cover other incidental expenses such as the family’s department store membership, petrol, some medical bills and his father’s property taxes. He also gives his mother $200 per month as a gift to spend as per her wishes.
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