Job Discussion Forums

[Ain'tRight]

Let me preface my remarks by saying I do not wish to be so pessimistic, it's just very frustrating to watch my dream of teaching overseas drop along with the US Dollar. Thus far, I've saved a little over 5K and will have close to 7k by Summer '08, but I still don't think it's enough for CELTA, rent deposit, rent, living expenses, laptop, plane, etc. Does anyone know if converting Dollars to Pounds or Euros makes any sense?

[Guy Courchesne]

Might be something to try. I keep reading that the dollar is expected to continue dropping, so converting now might save you some dollars.

[Justin Trullinger]

That's more than three times what I had saved for my first overseas teaching stint.

Plan well- but don't worry so much. Check out South America, or other places where the dollar still goes a little ways, and you'll be fine...


Best,
Justin

[GambateBingBangBOOM]

So just do your teacher training in the States, and then get a job overseas. That way, the low US dollar will be a benefit, because when you send money home, then it will convert to many, many dollars.

I'm in Japan and am Canadian. I have the opposite problem. The Canadian dollar has gone up by 25% in the last year, and so that means all the yen I send home isn't worth that much any more. When I arrived four years ago, I could send 100,000Y to Canada and get close to $1300 for it. Now I get $800 and something for it.

[tedkarma]

[denise]

I agree with ted and gambate. The ever-weakening dollar means that the currency that you earn will be more valuable.

I think I had about $5000 saved up, and with that I paid for my course, airfare, and the first month's expenses, and had a bit to leave behind for emergencies.

d

[Ain'tRight]

Heh. Silly me. I never considered the potential earnings when I convert BACK to Dollars.

As for destinations, EE is my preference; I believe it's prudent to have a bit more start up cash in EE than, say, in the Far East. Just my hunch.

Yeah, I was looking at CELTA in the US; would still like to take it in country though. I need to make a coupla executive decisions here soon, like where and when.

Thanks everyone for you comments.

Ain'tRight

[Justin Trullinger]

[spiral78]

Assuming that EE is Eastern Europe, you're not gonna have anything saved up to convert back to dollars on a teaching salary.

[kingmalka]

[MELEE]

A lot of schools in Korea and Japan will provide you with a furnished flat. I arrived for my job in Japan with less than 2000 US $. (okay this was way back in 1996). The school put me up in their apartment, walking distance from the school and the pervious teacher had left two days before I arrived, and left food in the fridge and cupboards so I made it through the first month (and to my first paycheck) on about 400 dollars.
I usually recommend that people have $2000 dollars to get set up in Mexico where the above senario is much less likely to happen.

[civi1968]

If you exchange your dollars for euros, you will be losing money, almost .50 for every dollar. My advice would be to only exchange if you need euros and only as much as you need. The euro is considered to be getting to the point of being overvalued so it may not go much higher.
I own euros in a CD and for every penny the euro goes up, I make a $100. But I would not buy anymore. I bought them when they were 1.24.
Some countries you may want to teach may give you less for your dollar for their currency. But buying Euros may cost you more. For example, in ukraine, you will get about 4 grivnas per dollar and 6-7 grivnas per euro. That is about a .50 cent difference. Hope this helps. mike

[maccamlc]

This is a post, related to another question I asked.

The Australian dollar is rising and getting closer to an even footing with the US.

But can I ask, in regards to Eastern Europe, what would you recommend as the minimum needed to get setup and look for a job, and still survive?