View Survival:Finance
You will probably earn more in Japan than you would doing the same job at home. You don’t have to be qualified in any specific area to get started in Japan, although obviously if you have specialist qualifications and speak Japanese, then your earning potential is much higher. Some women come to Japan precisely for the financial opportunities. However Japan has changed a lot and foreigners are not earning the same money they used to.
Managing your money
You can open an account in any bank in Japan. Just take along your alien registration card and your passport, and complete an application form. I recommend opening an account with a bank that has ATMs with English instructions. This will save you the hassle of asking staff to help you every time you go in. Japan is a cash-based society soyou will have to get used to carrying around a lot more money than you might have at home. Banks and ATMs (except Citibank) are not open 24 hours a day or every day, so make sure you have enough money with you at all times.
Spending
Japan is expensive, but you also seem to spend money on things here that you wouldn’t necessarily at home. You might travel more due to proximity of Japan to other interesting countries or a need to visit home, you spend more on clothes or beauty products, you drink more and eat out more, you take classes and join networking groups to meet new people and improve your job prospects, the list is endless.
Tax
There are two types of tax you must pay in Japan: national (income) tax and local (ward/residential) tax. National tax is deducted from your salary and paid by your employer. The tax year stars on January 1st and ends December 31st. For your first year, twenty percent will be deducted from your salary and thereafter your tax rate depends on your salary. Tax forms are supposed to be submitted mid April. The tax office has a detailed English brochure explaining how to complete the return, and English-speaking staff that can help you.
Sending money overseas
All banks send money overseas, as do major post offices, and there is a special branch of Lloyds TSB Bank Plc. in Tokyo that offers the GoLloyds service to many countries throughout the world.
Saving and investing
There are several companies established in Japan specifically to meet the investment needs of foreigners. Investment advisor Alison Pockett, of Magellan Tresidder Tuohy in Tokyo, often works with Western women who feel nervous about approaching investment advisors. She urges women not to hesitate to ask for advice.
If you get into debt in Japan
In Japan, severe financial difficulties can seem very scary, especially when you can’t pay your rent or other bills and know that your next paycheck won’t even begin to make a difference. Most Westerners will never experience this, but if you do, don’t panic. I have been there and, although it is terrifying, you can get through it.
Contact everyone to whom you owe money and work out a repayment scheme and hold yourself to it. You have to be incredibly disciplined, sell what you can, get some extra work and try not to get depressed. Friends who are truly there for you will come through with a place to stay, food and emergency cash.