money matters by liz and tim. us tax information timeline: – now: file form 8822 – change of...
TRANSCRIPT
Money Matters
By Liz and Tim
US Tax Information
• Timeline:– Now: File form 8822 – Change of Address– December: Get (tiny) earnings statement - Keep it!– By April: Read your handbook for filing instructions!
• Questions?– Read the Tax Guide in your Gunma
Orientation Handbook. Don’t lose it!– E-mail Liz for basic advice
Your Paycheck
• Salary– 280,000 per month
• Money in the bank– ≈238,000 per month, minus:• Taxes (if liable)• School lunch (kyuushoku) fees• “Tea service” fees• Teacher’s association fees
Banks
• Open a Japanese bank account (if you haven’t)– Your CO may require a specific bank for paycheck
deposits– You can open a second bank account of your
choice.• Good way to get a debit card and/or access to an ATM
network that spans the country.
• Close at 3pm
ATMs
• Longer hours, but still limited• Provide most services you need from a bank
• Fees for night, holiday, and weekend usage• Foreign bank cards: Try Japan Post ATMs
Furikomi
• A common type of money transfer• Only offered in Japanese• Need bank, branch, and account holder names
and the account number and type• Take your bill to a teller during bank hours if
you need help the first time.• Print a furikomi card to make recurring
transfers easier.
Paying Bills• Furikomi– Furikomi info will be on the bill
• Payment slips– Pay at a conbini
• Automatic transfer– Have your JTE help with the paperwork to set up
• Postal money order (yuubinkawase)
Bill
Payment slip
Credit Cards
• Foreign credit cards will work (if it’s ‘set up’)• Works at major supermarkets and gas stations– Costco ONLY takes Amex– Restaurants and getting a cash advance is hit and
miss
• Credit cards can make cell and internet signup easier – Payment methods can be switched after signup.
Getting a Japanese Credit Card
• Can be difficult• Credit system in Japan is ‘different’• A good bet is to try to sign up while with a
company that you subscribe to for utilities (Internet/cable)
• Payment methods vary between cards– Make sure you are clear about payment methods
or you may end up paying a lot of interest.
Is A (Japanese) Credit Card Necessary?
• Amazon and Rakuten can generally take furikomi, COD and convenience store payments
• Your home country cards work just as well unless you plan to use payment splitting or point programs
Sending Money
• 2 Main methods– Postal Money Orders• Cheap (~1500)• Slow• Requires someone else to cash
– GoLloyds• Done thru furikomi <- easy, fast• Higher fees (2000 yen flat rate)• Referrals give you a bonus