Job Discussion Forums

[kait]

I am wondering what people have found is the easiest and/or cheapest way to pay your US bills with foreign currency. I have a bank account that will pay my bills for me, but I don't know how I'll get the money into the account in the first place. Should I send money home to a relative in some way and have them convert it to US dollars? Is it possible to have my paycheck automatically deposited into a US bank?

And, do those of you who are ESLers for life have separate health insurance carried back in the states just in case you end up working someplace that doesn't provide insurance? Do you put money into an IRA so you have some sort of retirement plan?

Please forgive me if these questions are no-brainers. I haven't lived abroad in years, and I'm fairly certain I didn't handle my finances properly then.

[denise]

Before I left for Japan, I made arrangements to have all of my bills paid online. It was usually as simple as visiting the credit card company's website. I found that it was also very easy to access my bank account in the States online--again, just a simple visit to their website (or maybe a phone call?), and I can check my balance, transfer funds, etc. I also made sure to have a couple of permanent addresses set up in the States--parents' and ex-boyfriend's--just in case.

As far as sending money home, I imagine that the possibilities vary greatly depending on where you are. In Japan, there are a few different ways to do it, and I seem to have chosen one of the more inconvenient (based on the fact that my school opened my bank account for me at a wee little local bank). As you are getting settled into your new country, ask around and see which banks will allow you to send money home.

d

[Gordon]

[lozwich]

I nominated my mother as power of attorney for everything except large financial issues before I left Australia. It was simply a matter of filling out a form and getting it witnessed. Now, she can speak on behalf of me for things involved with an apartment I have there and a couple of other things I have to deal with from time to time.

It's usually worked, but I would caution everyone to take care with the person you ask to do such a task for you if you have large committments at home. I'm in the middle of a misunderstanding with my mother just now that makes me feel like selling the apartment and throwing any ideas of future financial security out the window.

Online banking is great, but put your passwords somewhere. I've become so engrossed in my new life that I've forgotten most of them, and have been locked out of my online banking. I'm going back to Oz in a couple of weeks and will be sorting this out over the phone, but in the future I'm going to 'hide' the passwords somewhere, so that the next time I forget them, I'll just have to remember where I hid them!

Wiring money from here in Mexico is really expensive. Have you thought of getting an offshore account from one of the banks like HSBC or Citibank? That might make things a little easier, but I'm not sure of the charges involved for transferring money with them.

Have a good day,
Lozwich.