Thankfully, my good friend Hiro, a native of Japan, was nice enough to sit down and talk about how he sees personal finance. We discussed credit card use in Japan, retirement accounts, and who’s responsible for teaching money education.

I’ve lived in Japan for almost 11 months and was surprised by a lot of the comments Hiro made about personal finance.

If you have any questions for Hiro about Japan, personal finance, or Pikachu leave them below in the comments on this post. He’ll get back to you soon with an answer.

[If you can't view click here to go to the video page]

[:25] –  Meet Hiro

[:49] –  His credit cards and the popularity of plastic in Japan

[2:37] – Banks, ATMs, and debit cards in Japan.

[3:19] –  Similarities in retirement accounts between U.S. and Japan

[5:32] - What Hiro thought about using money in America

[7:30] – Where Japanese people learn about money

Don’t forget to leave your questions for Hiro in the comments below!

————————————————————-

Subscribe Follow us on Twitter Get email updates

I met Chris Kridakorn in 2007 when we both were part of our college’s China and Japan study abroad program for 15 weeks. Since then he’s been all around the globe, not just visiting, but claiming residence and studying.

Today, Chris is living in the heart of Bangkok, Thailand with his parents and we recently caught up over e-mail. In this exchange Chris talks about his journey, the cost of living in Bangkok, working at a Thai restaurant in Yokohama, the political problems in his country, and why he and his Dad don’t speak Thai to one another.

I really hope you enjoy this look at Chris’ life.

Austin: You’ve traveled and lived all over the world, but how did you end up in Thailand?

Chris: I was born in Naperville, Illinois (Austin note: where Chris and I met at college) and after I turned 5 my family moved back to Thailand. My family was originally living in Atlanta. We moved to Naperville because my dad got a job offer there. I attended school here in Thailand up until my sophomore year afterwards I moved back to the U.S. to attend high school and college. I had originally planned to work in the United States, but my parents wanted me to move back Thailand so I did.

I am a dual citizen of both Thailand and the U.S. I am a U.S. citizen by birth and a Thai citizen since both my parents are of Thai ethnicity and also hold Thai passports.

A: How did all of the moving affect learning to speak different languages?

C: English is actually my first language and Thai is my second. When I first moved to Thailand I began to forget English almost immediately. So in order to help me not forget English my Dad would always speak English to me, even today we still speak English. If he hadn’t done so I probably would’ve forgotten English completely within a year. I was 5, maybe 6 years old at the time.

I attended a lot of English classes and had several English tutors throughout elementary school. Once I got to junior high my parents decided to place me in an international school where everything is taught in English. When I moved back to the U.S. only my brother and I moved back. We lived with our legal guardian who took care of us.

A: After college you ended up living in Japan for a year. What brought you to Japan?

C: I was in Japan from September 2008 to December 2009. It was roughly one year and 3 months. After our China/Japan trip (Austin note: our 3 month study abroad program in 2007) the year before I had always wanted to come back and learn some more Japanese. So I searched for a Japanese Language school and enrolled for 5 terms of 3 months each.

During my stay in Japan I worked part-time at a Thai restaurant in Yokohama near where I lived. Life in Japan can be a little tough for a foreign student who speaks limited Japanese. I had a lot of trouble understanding people and understanding the language. Everything felt really expensive and overpriced, but it was fun nonetheless. I would love to go back to Japan one day and get a job, however at the moment I don’t have any plans to move anywhere domestically or internationally.

A: What was it like working at a Thai restaurant in Japan?

C: I really enjoyed working at a Thai restaurant. There were several Japanese people working there but the majority including the kitchen crew were all Thai. It wasn’t easy finding employment. I had looked around before getting the job at the Thai restaurant. I applied at TGI Fridays and Star Bucks but at the time my Japanese wasn’t strong enough. I ended up working at the Thai restaurant because I had a friend who was working there already. I had a pre-college visa which allowed me to work no more than 24 hours per week.

It was definitely an interesting and fun experience. It was my first time working with both Thai and Japanese people. The Thais people who spoke Japanese had to translate Thai for the Japanese people, and the Japanese people helped the Thais to communicate better with the customers. It would definitely be a very hard job if you didn’t speak either language.

A: Back to Thailand, what are the prices like for some average expenses like food, travel, and internet?

C: The currency in Thailand is called Baht. The current exchange rate is around 32-33 baht per dollar. I don’t think anything in Thailand is particularly expensive, food though however is relatively cheap. Your average meal at a street vendor or at a shop is no more than 100 baht ($3). A small bottle of water is about 10 baht (30 cents) a liter of milk is about 50 baht and a dozen eggs is about 60 baht.

Nicer restaurants cost more but usually no more than 300 – 500 baht per meal. Really nice restaurants are priced the same as restaurants in the US, around 10$ for a plate of something.

My internet which is 3 MB is 600 baht ($18) per month. For the maximum speed available which is 16 MB it’s a little over 2000 baht ($60) per month.

The cost of phones here is generally the same as the U.S., but can be more expensive in certain cases. I believe an iPhone right now costs a little bit more here than it does in the U.S.

Traveling in Thailand can be pretty cheap depending on your preferences. There is plenty of cheap lodging around Bangkok area hotels can be as cheap as a few hundred baht per night. The nicer hotels such as Sheraton, Hyatt, or Mariott are at least 3,000 baht per night. Although I’ve been told that the service here is just as good if not better than the hotels in the U.S. Transportation varies, if just in Bangkok taxi meters start at 35 baht ($1) the Sky Train and Subway tickets range from 15 – 60 baht and bus fares start at 8 baht the cost of bus fares depends on the type of bus and how far you travel.

A: What personal finance accounts do you have?

C: I currently have a savings account that earns less than 1% interest semi annually. I do not have any money invested at the moment but I have been thinking of investing money as soon as I have money to invest. I also don’t have any credit cards at least not yet. Also to give you a perspective on money your average college graduate here in Thailand earns about 15000 baht ($470) a month.

A: We’ve all seen a lot of news about the political issues, protests, and troubles Thailand is having right now. What’s life like around you?

C: (Sun. May 16th) As of today the government had declared martial law and now we have curfews. The demonstrations started about 2 months ago and the intensity of the protests increased with every passing week. It started to become dangerous to go out at night and people started going home earlier earlier. Sometimes I can’t go to work and sometimes it’s hard to come back after work.

This past Friday all the trains stopped at 5 P.M. instead of the usual 12 A.M. and many people were stuck at work. There are parts of Bangkok that are more dangerous than others including the protest sites. With every minute that passes by Thailand moves closer and closer to a civil war, it has never been this bad before. It definitely is scary with the violence going on around you.

When I watch the news it’s usual countries in Africa somewhere fighting and bombing, but now when I look at the news I see shooting and bombings in places that I’ve been to. I do feel like it’s somewhat dangerous to be traveling Bangkok right now. So I would suggest tourists looking to move or work here to stay away for a bit. However, other provinces in Thailand apart from Bangkok are still safe to go to.

(Tues. May 18th) The situation here is pretty bad and I’ve been unable to go to work for the past 2 days. Also I just found out that they decided at the last moment not declare martial law. I’ve noticed that people are stacking up on food and water, and gas stations are running out of gas. Gas trucks are unable to enter the city due to fear of being hijacked along with closed streets making it harder to move about. There are also people who are stuck within the war zone without food and are just afraid to leave their houses. I am just about to ask my boss for permission to stay at home another day and wait it out.

A: What are the differences between living in Thailand, America, and Japan?

C: I’ve been asked numerous times about life in Thailand vs. Japan vs. America, and its very hard to say for me since I have come to love all three countries. I love how Japan is rich with culture and history along with its delicious delicacies that I never get tired of. Japan is also a very clean country but at the same time it is very congested and the cost of living is very high. My dorm room was literally the size of a closet.

When I was living in the U.S., I had all the space I needed. I lived in a house with my own room. I had my own car and while many things can be considered expensive it was still cheaper than Japan. My life in the U.S. wasn’t really that different from your average college student. I went to school and I had several part-time jobs throughout my college career.

Thailand however, is very different from the U.S. and Japan. While Thailand might not be as clean as Japan, nor as big as the United States, I’ve always found my life here to be the most complete, partly because I have relatives here. The cost of living in Thailand is very cheap and the food here is just as good as anywhere else. However, much like many other developing countries Thailand has constant political uprisings. Furthermore, the cheap cost of living also means that wages here are also very low in comparison to Japan and the United States.

A: Thailand is a popular destination for vagabonders, vacationers, and foreigners looking for temporary employment. Is there a need for foreign ESL teachers in Thailand?

C: There is definitely a need for English teachers however, the demand here isn’t nearly as high compared to Japan. Unlike many Asian countries such as Japan, China, and even Korea; Thailand has many English speaking people. Generally the foreigners who come to teach English in Thailand are older with more teaching experience who teach at internationally schools.

There are also many tourists who are staying in Thailand and tutor English for extra pocket money. However, I’ve seen very few foreigners our age (23-25) that come to Thailand to work. Most foreigners our age come to travel. I had assumed that the idea of teaching English in Thailand isn’t as attractive as teaching in Japan for people our age.

If you have decided that Thailand is the place for you then there are several ways you might be able to work here. Especially right now Thailand has many international schools that demand not only English teachers but math, history, science, and etc. However, they generally tend to hire older and more experienced teachers to ensure the quality of their education is maintained. Thailand’s market at the moment is somewhat unstable due to political protests that have dragged on; and whether that has effected the English teaching market or not I am not sure.

There is a website that I’ve seen called www.ajarn.com that routinely posts teaching jobs for foreigners.

::::

A huge thanks to Chris for the interview. We all hope him and his family will be safe as Bangkok figures out their problems.

If you have any questions for Chris about life in Bangkok, duel-citizenship, Japan, or anything else feel free to ask in the comments below and he’ll get back to you.

Photos: Chris Kridakorn, laurinkofler, and Christian Haugen

————————————————————-

Subscribe Follow us on Twitter Get email updates

This week we’re celebrating spring in Japan and the beautiful sakura (cherry blossoms) which are the hit of the season.

I hope you enjoy some sakura pictures and facts, and of course, some insightful money stories from over 20 great bloggers!

Most Japanese schools have a sakura tree on grounds for good luck

Life Tuner - Why Healthy and Young Need Life Insurance

The Writer’s Coin - Becoming First Time Homebuyers

PT Money – 5 Ways the Library Can Save You Money

Personal Finance Analyst – It’s the Grocery Game and I’m Actually Interested

The Japanese enjoy Hanami in the spring with friends and family; the custom of enjoying the beauty of flowers

The Life of a Insurance Salesperson – Worst Salesperson Ever, Strikes Again at Verizon

Young and Thrifty – Cohabitation Agreements and Living Together Common Law: What you Need to Know

Balance Junkie – 2010 Financial Plan: Q1 Update

The Dough Roller – I Was Audited by the IRS!

Sakura start blossoming in Okinawa in January and arrive north in Hokkaido by the end of April

The Bigger Pockets Blog - Manslaughter and a Crackhouse: How My Husband Became a Real Estate Investor

The Orange Paper - 10 Money Tips for a Holiday Abroad

Free Money Finance – Gold Dollar Coins Not Treated as Cash Advance on My Credit Card

Frugal Dad – How I Saved $2,500 By Ignoring My Inner 5-year old

The Japanese Meteorological Agency tracks the path of the sakura for the public

Good Financial Cents – How to Make Interest on Your IRA

Funny About Money – Hidden Costs of Illness or Injury

My Dollar Plan – Which Is Your Favorite Discount Broker?

Budgeting in the Fun Stuff – Want a Raise? Got These Traits?

Japan gave the U.S. 3,020 cherry trees in 1912 as a sign of friendship

Learn Save Invest – Benefits of a Pension Plan

The Digerati Life – Does the Economy Affect How You Save Money?

Personal Finance By the Book – A Prisoner Raises the “Serving Others” Bar

Dinks Finance – You Don’t Have To Be Ready – Just Go

There are over 200 varieties of sakura in Japan

Budgets are Sexy – Your Take: Who Pays the $200?

Christian PF – Buying Groceries in Bulk: The Hidden Dangers

The Consumer Boomer – How to Choose the Best 0% Balance Transfer Credit Cards

Money Help for Christians – Credit Cards vs. Cash: Do I Really Spend More With Credit?

::::

That’s it for this edition of the Carnival of Money Stories. If you’re interested in hosting a future Carnival of Money Stories, submit your site today.

Remember, submissions for next week’s carnival at Buxr are due Sunday at 5 EST.

Thanks to the blogs for some great content and the readers for hanging out and enjoying the scenery!

————————————————————-

Subscribe Follow us on Twitter Get email updates

Luke and I got to talking and I quickly realized he had a fascinating story that I needed to share.

On a whim, he left his hometown in England to travel to Japan.

He loved his time in Japan, ended up meeting and marrying a Japanese woman, and now he’s living in Kyoto and finishing up a documentary movie called, Wonderland – a look at synchronicty coming out this summer.

I asked Luke some questions over e-mail and he was a gentleman and sent them back.

Enjoy the interview and see what you can take away from Luke’s amazing story.

Austin: What’s your name and where are you from?

Luke: Luke Hancock and I’m from England.

A: How did you get to Japan?

L: Towards the end of my degree in University in the UK I had a growing intuition that I should go to Japan, which was based on nothing.  I’ve had enough tuition from life to teach me that one must pay attention to one’s intuitions.  So as big and scary a move as it was, I picked up my bags and left…

A: What was your initial attraction to Japan?

L: I didn’t really know a lot about it.  It just felt like the right thing to do.

A: What was the hardest part about moving to Japan?

L: Initially lonliness and the language barrier.  And then later visas.

A: What did you miss about England?

L: People I could talk to and relate to easily.

A: What’s your favorite experience from your first year here?

L: Huge synchronicities that kept popping up, which made me felt to me like confirmation that moving to Japan was the right thing to do, despite the fact I kept asking myself over and over “WHAT THE HELL AM I DOING HERE???”.

Like for absolutely no reason at all spending 3 hours listening to Informer, by Snow, reading his wikipedia page and generally wasting time.  Then finally randomly deciding to go outside, get on a bus, and get off at a random stop and see what happens.  Well I did that and walking straight into a Lawson convenience store and that song is playing, loudly.  Lawson don’t even play music in their stores, so it was a bizarre one, but there were many others like it.

A:  How long have you been in Japan?

L: Getting on 3 years.

A: Where did you meet your wife?

L: Outside Nanzenji temple in Kyoto.  She was studying the streets for her new job as a jinriksha and was lost, so I helped her out and it went from there…

A: What did her family think of her marrying a person from another country?

L: Her parents are pretty liberal and cool people.  Despite the language barrier that remains, we have a good relationship.  Her grandparents are a bit more old-school and I’m sure must inevitably harbour some remorse, but don’t show it and are incredibly friendly.

A: Has she been to England?

L: Yes.  She came to meet my family before we got married. It was a fun trip.

A: What’s the most difficult thing about marrying someone from another culture?

L: Learning the subtle nuances inherent in their culture that are lacking in our own, which translates to me being an accidental barbarian infront of her friends and family and not even knowing it.

Simple things like interrupting in conversation – in Western culture finishing another’s sentence and cutting into what they’re saying is good, because it means you are listening.  Here in Japan that’s a heinous crime, and is incredibly rude, but somehow I can’t stop doing it because it is deeply rooted in my cultural programming.

Yeah all that, and of course the Dolphin issue.

A: Do you plan on staying in Japan for a while?

L: She’s got a job with JICA, so we’re off to Nepal pretty soon, but I wouldn’t object to being here longer.

We just got back from a 6 week honeymoon in Mexico, and it was striking to see how grey and concrete Japan is by contrast.  Not just physically, but emotionally and energetically also.  But at the same time it is paradise here, because people are so incredibly respectful, and it feels safe, which are things that feel conspicously absent in the rest of the world once you’ve been in Japan for a while.

A: How has life been different in Japan, since you married a Japanese woman?

L: I stopped having to spend time being upset that it is so difficult to find a like-minded woman here who speaks good English who could become a partner.  They’re rare gems, but they sparkle bright and stand out in the crowd.

A: Any last bits of necessary info. my readers should know?

L: If you’re new in Japan, or are thinking about coming, then you’ll most likely first experience the Giant Ice Wall that stands between you and the culture around you.  It’s not like other countries where people are friendly and can easily be approached in the street and talked to.  They freak out here when you do that.

Anyway, if you feel you’re supposed to be here then you most likely are, and so with a bit of persistence the Ice Wall melts. Learning the language helps a great deal. If I have one regret it would be that I didn’t put more effort into the language, and after 3 years still feel quite inept in conversation.

That and follow your intutions and look out for synchronicity. It helps the process of moving country a whole lot easier.

::::

A huge thanks to Luke for a fascinating look at his life in Japan as a married man.

For those who want to know more about synchronicity, you can check out Luke’s film in progress at http://www.synchronicityfilm.com/

Also, head over to the movie’s forums to learn more and share stories about synchronicity.

Photos: Luke and laszlo

————————————————————-

Subscribe Follow us on Twitter Get email updates

The other day I received a question from a reader, Jack, on my 5 Minute Intro to Roth IRAs video post.

Jack asked:

A question for those of us abroad, or rather a request for clarification: I was of the belief that foreign-earned income which qualifies for the foreign-earned income exclusion cannot be used for a Roth IRA. You make no direct reference to this. Can you clarify at all?

Jack is correct. If you are working abroad and have no income in America, you cannot invest in a Roth IRA for the year(s) you are gone.

So why is this?

No U.S. Income? No Roth.

The Roth IRA is the governments way of helping you out with retirement savings by saying you don’t have to pay tax on your investment gains when you withdraw your money in retirement.

It’s kind of like a parent leaving a book about safe sex on their teenager’s bed. They won’t force you to do anything, but they’re subtly trying to nudge you in the right direction.

If you aren’t making income in America (a.k.a. not helping out the government by paying taxes on income) then they have no reason to allow you to take advantage of this tax haven for the period of time you are working abroad.

Therefore, you can’t save for retirement in a Roth or Traditional IRA when you’re working abroad.

How to Avoid Being Taxed Twice

Jack also mentions the “foreign earned income exclusion” in his comment. What is this?

Well, as a permanent citizen of America, you are required to pay tax on all income – even if you’re working abroad.

However, the foreign earned income exclusion states that as a worker abroad, you may be able to exclude up to $91,400 of your income from your taxes in America.

The specifics depend on the country you’re working in, but it’s very possible that you’re paycheck abroad should not be taxed in America.

In order to take part in the exclusion you must pass the physical-presence test. This sounds like a P.E. test from 7th grade, but in reality it states that you have to be in another country, or countries, for 330 days over a period of 12 months before you are eligible for the foreign earned income exclusion.

The time does not have to be consecutive, but until you do, you don’t qualify and your income can be taxed twice – once by America, and once by the country you work in now.

A Japan Example

According to my organization, the JET Program, all Assistant Language Teachers must “request the standard overseas filing package from the IRS”. This includes the the 1040 Individual Income Tax Return that most people are familiar with, along with the 2555-EZ, or the Foreigner Earned Income Exclusion form.

Also, according to my organization overseas filers have an automatic two month extension (until June 15th).

My situation is a little different since I have been in Japan for less than 330 days. I  must file an extension on my taxes for 2009 since I have only been out of the country for 7 months. Come July 2010, I will pass the physical presence test (330 days), and then be allowed to exclude my Japanese income from my American taxes.

So, you don’t have to pay taxes on your income while working abroad. Great!

But how do you save for retirement without access to tax-deferred accounts like 401ks and IRAs?

We’ll dive into this topic on Sunday.

::::

For more information on this topic check out the IRS’ information on the Foreign Earned Income Exclusion.

I’m new to these rules, so did I miss any vital information? Do you have experience with taxes while working abroad, please share your wisdom in the comments!

Photo: Micky

————————————————————–

Subscribe Follow us on Twitter Get email updates

This is a guest post from Mr Credit Card of www.askmrcreditcard.com. Mr Credit Card used to work and live in Japan years ago and today, he is going to give us some tips on how to earn airline miles for a trip back to America.

I worked and lived in Japan a few years ago and during that time I’ve been able to get quite a few free business class flights for my vacations.

The reason is that the company that I worked with gave me a business credit card, which happened to be an American Express. Whenever I took any business trips or gave client entertainments, I always charged to the card and earn reward points. I also had a personal AmEx card and I was able to combine accounts to really boost my point earnings.

That essentially, was my little secret to getting lots of miles.

This is particularly important for expats living abroad who want to save money on trips back home or on vacation somewhere else. So below are some of my tips for earning miles when you are an expat abroad.

Get the same card as your business credit card – If you work for a corporation that gives you a business credit card that earns rewards, then you should try to get the same card (the consumer version) so that you can even earn more points. Combining the points you earn from your personal and business credit cards will turbo boost your miles.

Find out which airlines you will fly most on – Let’s take the example of Japan. If you are looking to fly back to the U.S. for your vacations, you have many choices. For example, Japan Airlines, ANA and other American carriers like Delta, Continental and United all fly to the US direct from Japan. You also have to determine if you are likely to fly just one airlines or a few airlines. That is because it will affect your choice of credit cards.

Check Airline Alliances – You should also be familiar with airline alliances like star alliance and sky team. Airline partners on the same alliance program can use their miles on their partner airlines. This is very useful information to have when you are choosing a credit card.

Research Credit Cards that earn miles – This is a fun but tedious part. There are a couple of choices to make. For example, if you fly mainly just one airline, then it is just worth getting that specific airline credit card. For example, JAL and ANA both have their own credit cards. Even American Airlines have their own cards issued in other countries like Japan. As an example, Delta has a Japanese version of their skymiles credit card, a card issued by Citibank Japan and also a JCB card. Continental has a two credit cards in Japan, one issued as a JCB card, and the other one is issued by UFJ Bank.

But what if you fly a few airlines rather than just one? Well, then you would probably have to get a credit card with a reward program that allows you to earn points and transfer points to multiple airline frequent flyer programs. Programs include the Membership Rewards from Amex, Diners Club Rewards.

Charge everything to your card to maximize your points – Japan is an extremely cash based society. Folks prefer to carry wads of cash (and if you haven’t realized – credit card debt is not a problem is Japan). But to earn the most points, it always pays to use your credit cards to earn points. Just make sure you pay off your balance in full every month.

Try not to fly during Japanese Holidays – For those who have lived in Japan before know that they have lots of holidays. It is best to avoid flying on these days as fares are obviously more expensive and it is harder to use your hard earned frequent flier miles.

Ending Thoughts – Not many folks in Japan use credit cards. But if you are an expat or foreigner living there, it always pays to do some research about frequent flier miles so you can save a lot from using your credit card. Use it for everything (but make sure you pay in full) and you can start racking up those miles for your flight back home or for vacation.

Photo: Kossy@FineDays

————————————————————-

Subscribe Follow us on Twitter Get email updates

I love sushi and I’ve been introduced to some delicious Japanese foods, but sometimes I just want some food from America.

Luckily, so does my girlfriend and she loves to cook. She searches food blogs and has creatively constructed 10-15 meals that taste like I flew back to Chicago and am eating at my mom’s kitchen.

Today, I’ll show you how to make her American/Mexican nachos in Japan.

Included in the post will be the ingredients we’ve found at stores in rural Japan, the cost of the nachos to serve two, and pictures of the process. I’ll also provide some alternative methods in case you can’t find an ingredient at your local grocery store.

We quickly learned that Japanese liquor stores are the place to go for international food. They already import beer, liquor, and wine from abroad and most stores usually import some foods as well. Even though we live in a very small town, we still lucked out with having a great international food liquor store nearby.

So here’s the ingredients for Corinne’s Nachos:

- Ground beef: Found at the local Big Mart grocery store.

We wait for a sale on the ground beef and pick it up for 100 yen per 100 g (normally, 118 yen for 100g). Combined we eat 250 g.

Total cost = 250 yen ($2.69)

——-

- Tortilla chips: Found at the liquor store.

We use 3/4 of a 200 yen 200g bag

Total cost = 150 yen ($1.61)

——-

- Salsa: Found at the liquor store.

An entire jar costs 398 yen, and since we love salsa we use 1/3

Total cost = 130 yen ($1.40)

——-

- Guacamole: Found at the liquor store.

A jar costs 398 and we only use 1/10 of the bottle

Total cost = 40 yen ($.43)

——-

- Kraft cheddar cheese: Found at the local supermarket, Genky.

It comes in mini slices. A box is 20 slices and costs 225 yen. 4 slices is used for a batch of nachos.

Total cost = 45 yen ($.48)

——-

- Onion: Found at the local grocery store.

One onion costs 50 yen and we use 1/3 for the nachos.

Total cost = 15 yen ($.16)

——-

- Seasoning: Found at local grocery store.

We use a small amount of chili pepper, salt, and pepper.

Total cost = 20 yen ($.21)

Total cost of the nachos to serve two = 650 yen ($6.99)

Now, I realize we’re lucky to have these ingredients available to us but here are some alternatives Corinne found.

Tortilla chip alternative: Rockin’ Robbin’s Cooking Mexican Recipes provides all the ingredients for a full recipe and it costs less than 200 yen.

According to Corinne: “To make chips, follow tortilla recipe and once the tortillas are done, coat in veggie oil and salt, cut into pieces (chips) and bake in oven for about 2 minutes or until slightly browned.”

Salsa alternative: Chop up tomatoes, onions, and peppers and mix up with spices (salt, pepper, chili)  and a bit of oil.

Guacamole alternative: The local grocery store sells avocados. One avocado serves 2 people and is 100 yen. To make, smash up and add salsa, salt, and chili powder.

There you have it! Enjoy your American nachos in Japan!

Would you like to see more posts about how we make American food in Japan? Let me know what you thought of this post and what you’d like to see in future food posts. Thanks!

——————————————————————

Subscribe Follow us on Twitter Get email updates

Many of my junior high students are surprised to hear that Christmas is such a major holiday in most of the western world. In Japan, New Year’s Day is considered the most important holiday of the year. The Japanese recognize Christmas, but it’s mostly just a nice day for couples to be together and exchange a present or two.

The more I talked about Christmas with my students, the more I was learned about the many differences between American and Japan when it comes to theses two major holidays.

Below you’ll find a few of these differences and I hope it shows you how differently Americans see the world from other countries.

Enjoy the rest of your holiday weekend!

Be sure to check back on Tuesday because Foreigner’s Finances will be hosting the Festival of Frugality!

See ya then!

—————————————————————————————

Photo by w00kie

Subscribe Follow us on Twitter Get email updates

Note: I’m writing this post while completely content with my life in Japan. I’m suffering from very little homesickness and this post is in no way a vendetta against Japan. I’ve wanted to write a critical post about Japanese finance for a while, but in no way is this me being sad and missing home and Chipotle. Well, I do miss that one a little.

*******************************

The perception of Japan in America is one of futuristic technology, ninjas, and sushi. For the most part, this is accurate. But not much is known about how the Japanese handle their daily finances.

I always thought most countries used debit, credit, ATMs, online bill-pay, and other 21st century finance concoction like Americans. Upon landing in Tokyo in July, I was introduced to a different side of Japanese finance.

The way the Japanese handle their finances seems like they’re ten years behind America.

Here are the 4 aspects of Japanese finance I’ve been disappointed with.

1) Bank Books / No Online Banking

After signing up for my bank account I was issued a bank book. A physical bank book. It’s blue and has cartoon dolphins on it. Initially, I held it in my hand and just shook my head in disbelief. It’s a little more boxy than a checkbook was in America in 1997.

The bank book keeps a running total of my bank balance because there’s no online banking in Japan. Whenever I head to the ATM to make a withdrawal, I insert my bankbook and it updates my withdrawals, deposits, bills, and provides a running total of the money in my account. I appreciate that it prints out the totals instead of having to balance my bank book, but it’s still a shock to my American finance system. It’s bulky and a pain to carry when I want to update it. I was also issued a bank card so the bank book adds clutter to my financial life.

The no online banking is an inconvenience, but it doesn’t have me cursing the Japanese Ben Bernake. I check my online financial accounts too much already so not having another money website to worry about is fine. But it’s disappointing when I want to see what bills have been charged to my account and I have to pack up my bank book and trudge to the nearest ATM (only .5 miles, but it’s the principle).

*Updated 12/7/09*

I’ve now had a couple people inform me that online banking does exist in Japan, but it appears you have to sign-up for it when you initially go in to the bank to get your account. According to my friend Dawn, who went in to the bank with a girl who speaks wonderful Japanese, it takes 2 months for the online banking to start. I’m not saying this is a universal rule, but this appears to be the case in my prefecture.

Perhaps this is a topic for another post, but the idea of having to opt-in to online banking seems ridiculous. It’s proven that opt-in programs don’t support high percentages participation and I just don’t understand the benefits of the banks not having their customers use online banking.

Anyway, thanks to my readers for the heads-up on this.

***

2) Credit Cards Exist, But They’re Hiding

I’m pro credit card. I always paid of my balance at home and reaped the rewards from cards. I love the convenience and the ease of not carrying cash. That all changed when I left O’Hare in July.

My post earlier this week about the credit card use of Asian countries showed that Japan is warming up to credit cards but I have yet to see one person pull one out at a store. Cash is king and it doesn’t seem like any of the stores push credit cards. I never see signs saying they accept Mastercard or Visa and it seems like a non-issue. I’m in a rural area of Japan, so it might be different when you get to the big cities. Regardless, it’s very surprising to see no signs of credit cards in my day-to-day life. This leads to my third disappointment.

3) Change is Everywhere

Since cash rules, I find myself carrying a lot of it. Japan also uses change more prominently than America. 100 yen is about a dollar and Japan has change for the 1, 5, 10, 50, 100, and 500. In America, I recall trying to get rid of some change at a store to free up my pockets or bedside table and feeling really good about myself when I handed it over to the 7-11 employee in exchange for another Slurpee. It felt great to be free from the constraints of dirty coins. In Japan, it’s a never-ending battle against my change and one I’ve forfeited because it’s not going to cease until I leave the country.

4) The Non-Existence of Debit Cards

Debit cards are everywhere in America. Even the anti-credit people are usually ok with debit cards. They provide ease and you don’t have to worry about interest rates, debt, or missing a payment. They don’t exist here. I need to do some more investigative work to see if anyone has them, but it seems like debit cards are about as popular as credit cards.

So, why?

Japan is loaded with tradition and their respect for the way things have been is the only reason I can come up with for the four grievances above. The idea of a major country-wide financial change seems unlikely in a country that holds the elderly in such high regard and is inherently conservative towards most topics.

Not everything is negative. My bills and paycheck are automatically withdrawn and deposited into my account. I’m also told by friends that overdraft fees are more lenient. I’m not going to try to test this one out, but if you don’t have sufficient funds in your account for a bill the bank just waits a while to see if you fix it. Pretty trusting of them if you ask me.

I’m sure as the younger generation comes up, plastic and the internet will play a more prominent role in their daily financial lives, but it doesn’t look like any big splashes will be occurring soon.

Which of the four gripes surprised you the most about Japan? Am I being too picky about my money or are these warranted complaints?

Photos by and Mike Cash & iMorpheus

*********************************

Subscribe Follow us on Twitter Get email updates

My girlfriend is arriving in Japan next Saturday. We’ve decided to make a long weekend out of her arrival in Tokyo since September 19-23 is a national holiday.

We looked into different accommodations for our time in Tokyo. Hotels were out of the question due to high prices. We looked into CouchSurfing, but we didn’t want to burden anyone with two pieces of luggage and didn’t want to constrict ourselves to a stranger’s schedule.

We settled on staying at a hostel. There are hundreds of hostels in Tokyo, and like any city, they vary in price and quality. I did my research through some third-party websites that specialize in finding hostels in big cities. These sites are really helpful as they organize all of the information and create a simple template for finding a hostel in a city.

We won’t be spending much time in the room so I was looking for a cheaper option, but the hostels I found all had something a little off about them. One was too far from the major areas of the city, one had a lack of information listed, one had a 40% approval.

Tokyo is massive and has multiple downtown areas so we finally just settled on one.  The only problem was they didn’t have their luggage policy listed. My girlfriend will have her life in her luggage so we didn’t want to have it sitting in the lobby unlocked, or, even worse, have to drag it with us.

I had the order form filled out – 27,000 yen ($297) for four nights – and was about to grab my credit card, but I just couldn’t go through with it. I didn’t have a good feeling about putting my name in, paying 10% down, and still not knowing if the place was safe.

Despite the language barrier, I decided to call the hostel directly and see if they could answer my security question. I had no idea how much money that five minute phone call would save me.

I was taking a risk as I don’t speak Japanese. I asked the man who answered if he spoke English. He responded with, “not much”. He then continued to understand every sentence I said, articulate complete sentences, and booked me for four nights at his hostel!

On top of his great English and efficiency, he quoted me a price of 21,200 yen ($232) – $65 less than the price through the third-party website. I also found out we could keep the luggage in the room, we didn’t have to pay anything down, and I didn’t have to give my credit card information. If we show up next Saturday and get a bad vibe, we can move on and find another hostel. I also have a friend of a friend on call in case this happens.

Since hostels are low-key they tend to not have websites. I still never comprehended and thought that I would pay extra to book through another website. It was something that never once crossed my mind until I got off the phone with the hostel.

Third-party websites are great for consolidating information and research, but take five minutes and call before you book. The same goes for hotels, airlines, or vacations that you find through third-party sites. That $65 savings will now go towards filling my stomach with even more sushi.

————————————————–

Subscribe Follow us on Twitter Get email updates