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Why Working Over-Seas Won’t Help You Out Of Debt

by Secure Loans on September 8, 2009

in Uncategorized

The economy is poor in the United States. There are not a lot of jobs available and if they are available, there is now way to pay off the debt that you have. The debt is not very big, but you are starting to think what other options are available for you to get rid of the debt by working. Then it dawned on you to go overseas and see if you could work, lets say as an English teacher, and see if that could help. However, I would suggest not to pack your bag and head overseas just to get rid of this debt.

First off, the initial start up for going overseas is going to set you back a few thousand dollars. The passport by itself is over 100 dollars, according to the State Department. Second, the plane trip is going to be a lot of money, perhaps even 2000 dollars. So that is already 2000 dollars you are down in the train and you have not even set foot inside the country yet. Since you are looking for work, there will be a special permit you need to get from your destination country called a visa. For some places, like the People’s Republic of China, it will be almost 150 American dollars to purchase. Even if a work visa is free, you will need a lot of documentation to even start working overseas.

For example, the Japanese Government wants letters from the people hiring you, their financial records and they also want to have yours so you can sustain yourself. Even for a tourist visa for longer than 6 months, the Japanese want to know you can survive on your own without any handouts from welfare agencies. If they realize that you are in debt in your own country, there is no way another country will let you in and leech off of their welfare systems.

If you somehow manage to get past those barriers, you still have to get a place to live, still have to eat and function like a normal person. In some areas overseas, there will be some businesses that will look to rip off foreigners. When you do actually get paid, it will be in the local currency and will probably be hard to change the money from, lets say yen to dollars, without a bank and with the poor exchange rate the United States dollar is facing. Regardless of what country you pick, the cost for starting up and the difficulty for walking to the country with debt should be enough convincing for you that going overseas to wipe out debt will be hard.

debt spendingThe bills are piling up and it seems that you are falling down the hole of debt. You tried to cancel credit cards, you tried to get a second job. You tried to sell things on craigslist and did almost everything under the sun. However, if there is one thing that you might need to look at is yourself. Maybe you need to change your own spending habits, which seems to be the main thing keeping you down. Sure, you might get rid of old books and clothes, but you just run right out to the nearest store and replace the old stuff with new things. If you happen to fly for business, you decide to be in the top classes to wine and dine with everyone important. While it was costing hundreds more to sit in that part of the plan, rather than coach, but you just want to fly with style. This is what causing you to go into debt, because you want to be very fancy or always get everything that is top of the line.

The first thing you can easily do is just cancel all credit cards except for one or two. While you have maybe taken a few to the scissors, if you limit the number of cards that you have, then the temptation will decrease by a lot. With the credit cards you do have, I would recommend you to place it in a bowl of water and freeze it. Just one debt card will be able to get you through the day. With the credit cards literally on ice, you will need a lot of sheer determination to use the cards.

The second thing you can do is change the places that you eat. While fast food is not the best option in the world when it comes to your heath, but there are a lot of deals being offered to save you money. You can get a giant sandwich at most places for about five or six dollars. If you happen to be a small eater, you can eat half of the sandwich for lunch and use the rest for a quick dinner. The use of left over food will also save you a lot of money. The biggest thing that causes people to spend money is on clothes. Just look in the bargain bins or perhaps shop for second hand clothes. There are a lot of places now that you can get a very cool set of clothes without hurting your wallet at all.

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