Page 1 of 2 12 LastLast
Results 1 to 20 of 30

Thread: Interac says you need 500k start-up money?

  1. #1

    Default Interac says you need 500k start-up money?

    That equates to over £4,000!

    Are they insane?

  2. #2

    Default Re: Interac says you need 500k start-up money?

    Well, considering your apartment is not subsidized (think those LeoPalace things are around 400 - 600 a month), you have to pay some fees and stuff, and you're responsible for a lot of the travel expenses to and from the hotel, and then the fact that you're not going to be paid for at least a month...

    4k doesn't seem like a stretch at all.

  3. #3
    Member oneokbunny's Avatar
    Join Date
    Mar 2011
    Location
    Ibaraki-ken, Japan
    Posts
    52

    Default Re: Interac says you need 500k start-up money?

    Try getting paid after 2 months or 3. I started in early July and my first paycheck was the end of September. Also you have to pay a good £1,300 in move in cost.

  4. #4
    Senior Member Tyr's Avatar
    Join Date
    Nov 2010
    Location
    Somewhere
    Posts
    1,553

    Default Re: Interac says you need 500k start-up money?

    £500 a month rent, maybe for 2 months if you don't get paid that long. Plus 1-3 months deposit/key money. There's half the money already.
    Then there's buying the stuff you will need to live and general living costs.
    500k is probally OTT, such recommendations always are. But you do need a fair bit. Especially with a private company, they won't help you as much as Jet would.

  5. #5

    Default

    I know people don't say to put all your eggs in the JET basket but I may have to now. There's no way I can afford £4k plus the cost of a flight on top of that.

    <prays>

  6. #6
    VIP Rz1's Avatar
    Join Date
    Nov 2011
    Location
    Kyoto
    Posts
    189

    Default

    Quote Originally Posted by lemsip View Post
    That equates to over £4,000!

    Are they insane?
    I guess years of being cheap will finally pay off.

  7. #7

    Default Re: Interac says you need 500k start-up money?

    Most Interac people I know didnt need the whole amount Interac suggested. If you get placed in the money-sucking big cities, you may need it. I guess its better to be prepared. Also remember that Interac offers that loan....
    My JET friends had said they were instructed to bring a similar amount when they first got here, so I dont know if you'll avoid the money by going with JET.
    MY SUGGESTION: bring as much as you can, get the Interac loan (if you need top up), and live as cheaply as you can for the first 2 months.
    ALSO: in certain cases Interac will pay your airfare....

  8. #8
    Senior Member Tyr's Avatar
    Join Date
    Nov 2010
    Location
    Somewhere
    Posts
    1,553

    Default Re: Interac says you need 500k start-up money?

    For the record: Food is actually rather cheap in Japan except for a few things, e.g. milk, bread, cheese, fruit.
    Meat and rice and the like is cheap.

  9. #9

    Default

    Quote Originally Posted by AnyaAway View Post
    My JET friends had said they were instructed to bring a similar amount when they first got here, so I dont know if you'll avoid the money by going with JET.
    I believe the official JET reccomendation was around ¥250,000 this year. It's a lot less because almost no one on JET has to pay for key money, deposits or airfare, and you get paid within one month of arriving.

  10. #10
    Sociopathic Scroogemcduck MJN's Avatar
    Join Date
    Jan 2011
    Posts
    6,274

    Default

    Quote Originally Posted by Tyr View Post
    For the record: Food is actually rather cheap in Japan except for a few things, e.g. milk, bread, cheese, fruit.
    Meat and rice and the like is cheap.
    Mind some of the meat here is absolutly rancid. Unless you pay through the teeth, chances are it'll be 50% fat. I've almost given up with meat here.

    Fish is delicious though, and I'm usually not a fan of fish.

  11. #11

    Default

    Quote Originally Posted by MJN View Post
    Mind some of the meat here is absolutly rancid. Unless you pay through the teeth, chances are it'll be 50% fat. I've almost given up with meat here.

    Fish is delicious though, and I'm usually not a fan of fish.
    It's called 'marbling'. They just let it get beyond the 'prime' amount westerners expect.
    Quote Originally Posted by Jiggit View Post
    But what if we reverse the polarity of the quantum string theory? According to uncertainty principle there are infinite worlds out there, so it stands to reason schrodinger's cat is alive in one of them.


    Quote Originally Posted by Apollo87;
    U da real mvp.

  12. #12

    Default

    Quote Originally Posted by AnyaAway View Post
    ALSO: in certain cases Interac will pay your airfare....
    What cases are those?
    anyone heard of this too?

  13. #13
    Senior Member lexa1010's Avatar
    Join Date
    Oct 2011
    Posts
    106

    Default Re: Interac says you need 500k start-up money?

    You have to pay key money at interac?! That's nuts!

  14. #14

    Default

    Quote Originally Posted by lexa1010 View Post
    You have to pay key money at interac?! That's nuts!
    You have to pay key money everywhere else in Japan so.....

  15. #15
    Bad Guy Alphabet's Avatar
    Join Date
    Jul 2008
    Location
    Doomworld
    Posts
    6,366

    Default Re: Interac says you need 500k start-up money?

    I had to pay key money with JET. ESID dudes.
    if you want proof, try math or alcohol

  16. #16
    Billy Big Bollocks Ini's Avatar
    Join Date
    Jan 1970
    Posts
    28,772

    Default Re: Interac says you need 500k start-up money?

    When you're a pimp like me all your keys are money
    Great men of action never mind on occasion being ridiculous; in a sense it is part of their job.

  17. #17
    Senior Member
    Join Date
    Apr 2010
    Posts
    288

    Default

    When I came with GEOS I had to buy my own ticket, but they helped me find a cheap one 900CAD.
    Then I didn't get paid until the end of August and I had to pay my rent both months, 48 000yen.
    I didn't have to pay key money but I had barebones furnishings which included a moldy matress.
    I got paid 250 000 and I survived fine.
    I brought 2500CAD - 900CAD with me and I was fine. I had to live cheaply for the first bit but I think it all depends on key money.

  18. #18

    Default

    From my personal experience, it's best to bring every damn penny you can possibly scrounge up. I have read on various sites that some people have been able to survive just on the loan that Interac gives and be perfectly fine. I don't deny that they could but it's my guess that they just needed the loan for the start up costs and they had other money to pay for incidentals. I had to live on just the loan money (I had $200 when I came) and it has been pure hell.

    Just to walk into your place, you will pay in the neighborhood of 200,000. My costs were 190,820. There is no negotiating key money costs or other things with the landlord because Interac has already set this up with (mostly likely) Leopalace before or soon after you get there. I suppose you could always tell Interac you would prefer to find your own place but my guess would be that wouldn't be well received by them (after 6 months, you are free to find your own place). You pay your first three months rent up front (prorated for the first month and full for the 2nd and 3rd). While that doesn't sound like a bad thing, one thing that isn't said by Interac until you get here is that they take your rent in advance. So they will take rent for June from your first check rather than wait for June's check to take it.

    And while Interac says they will offer you a loan for up to 250,000, in actuality, they will only loan you the amount of the above costs (however, if you have a legitimate financial need, you can ask for the full amount. I had to do this). Also, there are most likely transportation costs. Unless you are one of those lucky few that gets a placement where all your schools are within walking/biking distance, you will have to shell out money for trains/busses/gas. Interac will reimburse you, you won't get that money until later (April's costs will be given to you the end of May). There are also your utilities/insurance (total about 4000-5000 plus just to have the gas turned on, the gas company wanted 10,000 the day I moved in).

    You will also have these small little costs. I have to pay for my school lunches (4500 a month, not reimbursed by Interac as I am being paid for the time I am at lunch). Unless you want to sleep on the floor or on wooden planks, you will need about 10,000 to get something even resembling a bed. 2 pillows, 4 1-1/2" inch thick mattress pads, pillowcases and a sheet cost me around 10,000 (I brought a blanket from home). There are also various things like cookware, silverware and if you're fancy, a plate and cup. Finally, you may possibly be invited to a beginning of the year party by your school(s) (which isn't mandatory but it's a real good idea to do so to make a good first impression) that will cost you anywhere in the neighborhood of 5000 yen.

    I am living proof that you can, if necessary, live just on the loan money (not taking into account that my student loans and credit card bill haven't been paid in 2 months) but in my very honest opinion, you need to come with at least 200,000 in addition to getting the loan from Interac to make your life so much easier. If you can bring 500,000, do it! Seriously, you have enough to worry about with the teaching and getting acclimated. Don't add another stressor to what will be a pretty stressful time anyway!

  19. #19

    Default Re: Interac says you need 500k start-up money?

    I would like to hear from someone who did ask to find their own place. I think it'd be better if you know the language/can navigate dealing with a Japanese real estate agent. I think I would like to do that, so I'm very curious what other people's experiences have been.

    Leo Palace is a generally good deal considering utilities and internet are included, but I know a couple websites to look for apartments through that are in 日本語 and have significantly cheaper rent/key money/deposit prices than would be seen with an LP place.

  20. #20
    Senior Member saritajuanita's Avatar
    Join Date
    Nov 2006
    Location
    Chicago ---> NW Kyushu
    Posts
    647

    Default Re: Interac says you need 500k start-up money?

    If you're concerned about bringing soooo much cash, your credit card from home should work at any store you will be buying furniture, clothes, or things for the house at, including second hand shop chains like Off House and Eco-mall. There are a lot of places that don't take credit cards compared to home, but they are there if you are looking.

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •