Two days ago I went through all of my bank accounts and the money that will be coming to me over the next year and made a budget.
I soon as I'd done it I regretted it! The news wasn't good... It looks like I can spend Y9,187 (about £60) every week I'm here and go home with nothing left. Actually, worse than nothing, because that amount includes my student overdraft, so I'd be returning with -£1,250. Not good!
I wanted to spend this year doing everything I could, and enjoying Japan to the full, but with money restrictions I won't be able to. This means I'll definitely have to get a job, and work quite a bit to fund myself! As I might not be able to work before I go back to University next year in the UK I can't afford to go back with less than nothing.
I think one of the reasons I'm going to have trouble is because of the awful exchange rate between the yen and the pound. Last year the pound was worth Y200, and sometimes even Y220, which was great! But since the world plummeted into recession, the rate is now about £1=Y150. It's probably the worst year I could have come to Japan! Because, no matter what Japanese people say, I don't think they're suffering like the West. Their currency is still one of the strongest in the world, like the pound used to be!
It makes living here much more expensive. I used to just divide everything by 200 to get the price in pounds, but now I have to do that, and then add a quarter back on, which is quite depressing!
Ahh well, I'll try to find a job (probably teaching English, maybe privately or at Gaba again if they're hiring) and start earning some yen. Time to tighten the purse strings!
Showing posts with label budget. Show all posts
Showing posts with label budget. Show all posts
Thursday, October 1, 2009
Tuesday, February 12, 2008
Budgetising
I've been keeping a record of all my spendings since I arrived, and I've been quite scared at how much money has disappeared over the last month and five days.
I saved just over £6,000 working at Cadbury World, and adding my life savings, for this trip, then spent about £4-500 on my suitcase, suits, clothes, travel accessories etc.
So I actually arrived in Japan with about Y1,250,000 (£5,975). The Japanese government requires you to have £2,500 for a Working Holiday visa (you can read more about requirements for visas on my earlier post).
Now I have spent Y298,650 (£1,428), leaving me with Y950,350 (£4,547). That sounds like a lot of money to have spent in a month but there are two Y80,000 rent payments and a Y40,000 camera included in that figure.
But I was still shocked by the number, so I have spent the afternoon poring over my Gaba schedule, private student timetable and weekly/ monthly spendings since I arrived. What a fun way to spend a rainy Tokyo afternoon!
This might be too strict, but I will break even if I work 20 lessons every week at Gaba, and earn £100 from private students every month, and spend Y146,300 (£700) a month.
That works out as Y80,000 a month on rent, Y41,800 on food (Y10,450 a week) and Y24,500 (Y6,125 a week) on transport and extras.
This is working on the value of the yen at Y209 to £1, which is the current figure, and what it has been for the past few weeks, although a more general figure that I usually work from (because it's easier to work out) is Y200 = £1.
I've called this my 'Preliminary Budget' so I'll review it in a month's time (or at the end of February) and see if it's possible to stick to it, or if it's too strict.
I think I need a drink...
I saved just over £6,000 working at Cadbury World, and adding my life savings, for this trip, then spent about £4-500 on my suitcase, suits, clothes, travel accessories etc.
So I actually arrived in Japan with about Y1,250,000 (£5,975). The Japanese government requires you to have £2,500 for a Working Holiday visa (you can read more about requirements for visas on my earlier post).
Now I have spent Y298,650 (£1,428), leaving me with Y950,350 (£4,547). That sounds like a lot of money to have spent in a month but there are two Y80,000 rent payments and a Y40,000 camera included in that figure.
But I was still shocked by the number, so I have spent the afternoon poring over my Gaba schedule, private student timetable and weekly/ monthly spendings since I arrived. What a fun way to spend a rainy Tokyo afternoon!
This might be too strict, but I will break even if I work 20 lessons every week at Gaba, and earn £100 from private students every month, and spend Y146,300 (£700) a month.
That works out as Y80,000 a month on rent, Y41,800 on food (Y10,450 a week) and Y24,500 (Y6,125 a week) on transport and extras.
This is working on the value of the yen at Y209 to £1, which is the current figure, and what it has been for the past few weeks, although a more general figure that I usually work from (because it's easier to work out) is Y200 = £1.
I've called this my 'Preliminary Budget' so I'll review it in a month's time (or at the end of February) and see if it's possible to stick to it, or if it's too strict.
I think I need a drink...
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