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How much money will I need
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smbonar



Joined: 03 Nov 2007
Posts: 7
Location: us

PostPosted: Sat Dec 22, 2007 4:25 am    Post subject: How much money will I need Reply with quote

I am heading to Madrid in January, I already have a job(with guaranteed 20 hrs a week) that I wil be starting a few days after I arrive and I am an Eu citizen(dual citizen US/Ireland). I am curious if 5000 usd will be enough money to get me by. I keep seeing that you need 15000 euro to make it that seems so high to me. Is that only if you are a non eu resident and dont have a job yet?
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mdk



Joined: 09 Jun 2007
Posts: 425

PostPosted: Sat Dec 22, 2007 8:21 am    Post subject: Reply with quote

It largely depends upon whether you are going to live like an American or a Spaniard.

Two years ago people were getting by on !,000 euros a month in Barcelona and I think Madrid may be a bit cheaper. If you have legal permission to work in Spain you ought to be able to earn what you need.

By the way I just heard that the Deutsche's post has agreed to pay a minimum wage of 8 euros an hour. If that will keep body and soul together in Munich it ought to do well enough in Madrid. Maybe you can figure from that.
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sheikh radlinrol



Joined: 30 Jan 2007
Posts: 1222
Location: Spain

PostPosted: Sat Dec 22, 2007 2:27 pm    Post subject: Reply with quote

mdk wrote:
It largely depends upon whether you are going to live like an American or a Spaniard.



What on earth are you talking about? More details, please.
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mdk



Joined: 09 Jun 2007
Posts: 425

PostPosted: Sat Dec 22, 2007 3:40 pm    Post subject: Reply with quote

Perhaps I am reasoning from too small a sample. The other Americans who took the TEFL course with me in Spain didn't live like the Spaniards I later came to know in Spain. There wasn't enough liquor or doodads at FNAC for those people in all of Spain.

But I did not seek out other Americans to hang out with so perhaps I am casting too wide a net. In any case it was meant to illustrate a point.

Say rather that if you want to live like the people you see drinking Sangria on Las Ramblas you will need a lot more money than the people you would see walking on the street in Zaragosa.
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smbonar



Joined: 03 Nov 2007
Posts: 7
Location: us

PostPosted: Sun Dec 23, 2007 11:45 pm    Post subject: Reply with quote

I want to be able to pay my rent, have a gym membership, a phone, and occasionally travel on the weekends, go out every once and a while and thats about it. Drinking all the time and buying unnecessary items is not something I am worried about since I wont be doing it. I just didnt see how you would need to have $15000 saved to move to Spain, that seems ridiculous. I guess it depends on the individual and how well they can budget their money.
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Moore



Joined: 25 Aug 2004
Posts: 730
Location: Madrid

PostPosted: Mon Dec 24, 2007 10:22 am    Post subject: Reply with quote

5000 U.S. dollars works out to around 3500 euros, which will easily be enough to set you up in Madrid, especially in the light of having EU papers. Don't forget to leave some aside for the summer lull, and try to get some summer camp work set up in May too.


_________________________________________________________________________
...Jobs and language exchanges in Madrid, Barcelona and Berlin... www.lingobongo.com

...send your c.v. around ALL the schools in Madrid, Barcelona or Berlin in one hit with our c.v. sending service... www.lingobongo.com


Last edited by Moore on Thu Jan 31, 2008 8:33 am; edited 1 time in total
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mdk



Joined: 09 Jun 2007
Posts: 425

PostPosted: Wed Dec 26, 2007 4:53 am    Post subject: Reply with quote

And get your teeth checked before you leave....just in case.
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bejarano



Joined: 12 Sep 2006
Posts: 67
Location: South Korea

PostPosted: Sun Dec 30, 2007 8:32 am    Post subject: Re: How much money will I need Reply with quote

smbonar wrote:
I am heading to Madrid in January, I already have a job(with guaranteed 20 hrs a week) that I wil be starting a few days after I arrive and I am an Eu citizen(dual citizen US/Ireland). I am curious if 5000 usd will be enough money to get me by. I keep seeing that you need 15000 euro to make it that seems so high to me. Is that only if you are a non eu resident and dont have a job yet?


I remember giving that advice to someone who wanted to work in Spain as an illegal and my advice was 'too much money is never enough' I gave a ballpark figure of 15 grand (USD) and I stand by that statement. You go there as an illegal and you are on your own! Going there with less than that amount is asking for trouble - unless you can predict the future as regards health and emergencies that crop up and land lucky with a good employer/landlord who won't rip you off and will respect your human rights.

If you are legal then of course the start up costs are far cheaper, you are liable for health care, unemployment benefits (if you are EU) and have rights.
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spiral78



Joined: 05 Apr 2004
Posts: 11534
Location: On a Short Leash

PostPosted: Sun Dec 30, 2007 5:34 pm    Post subject: Reply with quote

not 'liable,' but eligible.
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mdk



Joined: 09 Jun 2007
Posts: 425

PostPosted: Sun Dec 30, 2007 5:52 pm    Post subject: Reply with quote

If I may put my oar in about unexpected emergencies and estimating costs, I would like to point out that when I bought my hostel card I was able to buy a years worth of extra health insurance (above what came with the membership) for about $500 for the year.

This now covers $10,000 in medical expenses and $50,000 in medical evac back to the states. God forbid I get hit by a car or something, but I can live a lot easier knowing I left the policy number with my brother. You can take your hint from there.
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Moore



Joined: 25 Aug 2004
Posts: 730
Location: Madrid

PostPosted: Sun Dec 30, 2007 6:24 pm    Post subject: Reply with quote

Having just watched the film "Sicko", I'd be a bit concerned that an insurance company, if they ever had to pay out any sort of significant sum, would look into what a person was doing in Spain and try and wriggle out of any payment if they found that the person had been working here.

Of course, all non-EU people get emergency health treatment here, but if I were a non-EU worker I'd be quite wary of trusting my follow up health care to an insurance company.

I probably should avoid watching so many Michael Moore films really...


_________________________________________________________________________
...Jobs and language exchanges in Madrid, Barcelona and Berlin... www.lingobongo.com

...send your c.v. around ALL the schools in Madrid, Barcelona or Berlin in one hit with our c.v. sending service... www.lingobongo.com


Last edited by Moore on Thu Jan 31, 2008 8:32 am; edited 1 time in total
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spiral78



Joined: 05 Apr 2004
Posts: 11534
Location: On a Short Leash

PostPosted: Sun Dec 30, 2007 7:56 pm    Post subject: Reply with quote

Yeah, it's been pointed out numerous times in the past that an insurance company confronted with claims made for someone overseas at the time of accident/illness is HIGHLY likely to investigate the legal status of that person before paying anything.

It's just the kind of loophole insurance companies LOOK FOR, to refuse payment.
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mdk



Joined: 09 Jun 2007
Posts: 425

PostPosted: Mon Dec 31, 2007 7:27 am    Post subject: Reply with quote

Had it been the case that I had bought US coverage and expected it to apply in Spain (or overseas), I would have been careful to read the policy very closely.

The insurance available through the American Youth Hostel Association claims to be *for* travelers overseas. That having been said, any insurance company might conceivably welsh on a claim if they thought they could get away with it. They would have to decide they had a good enough reason to get through a US court. Since the carrier is a major player, one has to bet they wouldn't do that. If they showed obvious bad faith they would almost certainly get spanked with extensive (much more than the face value of the policy ) punitive damages from a California jury.

For $500 that's a decent bet. Especially considering the alternative of being medically indigent in a foreign country with major injuries or something.

In EFL one pays one's money and takes one's risks. If you can't afford $500 to cover yourself, maybe you ought to stay home and work a few months more until you can.
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mise_me_fein



Joined: 04 Nov 2005
Posts: 24

PostPosted: Sat Jan 26, 2008 6:01 pm    Post subject: Reply with quote

Don�t bring too much. I brought �2200 and blew most of it on booze and crap I didn�t need in 3 weeks.
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jonniboy



Joined: 18 Jun 2006
Posts: 751
Location: Panama City, Panama

PostPosted: Wed Jan 30, 2008 2:33 pm    Post subject: Reply with quote

2200 on booze in three weeks is a bit hardcore! On my first failed attempt at finding work in Spain I spent 3000 in 3 months.
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