Moving to US
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Originally posted by lostintransition:
as for credit cards...do banks also need to check your credit history before issuing the credit cards? it'd take awhile before we can build up a decent credit record....so during that time, we've to stick to using our SG credit cards?
You will be able to obtain a credit card in the US, but due to your lack of credit history in the country, you will probably not be able to qualify for one with a low interest rate and/or a waived annual fee. However, this should not be a problem if you're using the card purely for payment convenience and you plan on paying off the balance in full every month.
When you open up an account at a bank or credit union here, ask if you can apply for a credit or debit card through the bank, as they'll usually waive the annual fee for bank customers.
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Originally posted by lostintransition:
so do i understand correctly that one will have to estimate the amount of taxes one will have to pay for the year (base on income/deductibles) and to declare that amount for tax withholding? any penalty for under/over-estimating the amount of taxes?
talking about places where most of the residents are "snowbirds"....is it a good idea to own properties in those areas?
At your place of employment, you will be asked to complete Form W-4 so the payroll department can calculate the correct amount of tax to withhold from your pay. Federal income tax is withheld from your wages based on marital status and the number of allowances claimed on this form. You may also specify that an additional dollar amount be withheld. You can file a new Form W-4 anytime your tax situation changes and you choose to have more, or less, tax withheld.There are penalties for underestimating your withholding (usually a percentage of the tax owed); there are no penalties of overpaying taxes--you just have to rap yourself in the head for extending the government an interest-free loan. You will get the overpayment back in the form of a tax refund, or you can opt to have the overpayment applied to your tax liability for the following year.
As for renting vs. owning property in the snowbelt, you're almost always better off owning the property even if you do not occupy it for several months during the year. Remember that making rental payments does not build you equity.
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erm, i made this thread sticky but it is so high up in the forum. not sure u folks will notice, so here it is :
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OMG....Now I know why Sporean are so kiasu after reading how people prepare their move to US.Almost everything you can buy in Spore , you can buy it in the US for a cheaper price.
I only brought USD 1000 when I move to the US.If one is moving to the US for a job, the employer will usually take care of the relocation. Over here, most employee are paid weekly or bi-weekly. You should have sufficient income to buy most of the stuff after 2 weeks.Unless you are planning to buy a new car and not qualify to take a new loan due to no credit history, then maybe you can bring in more cash. For first timer, I would advise buying a cheap used car as you can cut down the insurance by paying full deductible for collision.If one is worry about buying used car, then try buying a brandnew Kia or Hyundai. They only cost between 10K to 12 K and they come with full 10 years or 100000 miles warrantry.They will tow your car if it breakdown anywhere in North America.They also compensate you for any hotel expense incur during the breakdown of your car.
Most important thing in the US for new resident is to build credit score. If you are a Amex holder in Spore, you can apply for a US Amex and start building your credit history straight away..Without a credit score, it is almost impossible to take any loan.Forget about buying house in your few years, without a credit score above 750, the mortgage rate will kill you!
The next most important thing is to get a US driving license as soon as possible even though the international driving license from Sg is valid for 1 year. The reasons are public transport is lousy here and one needs to have at least a year of US driving experience to get a good auto insurance rate. Due to a lack of driving record in the States, my first auto insurance was ten times more compare to what I am paying now . I would recommened not getting a new car and any auto loan on the first year. Buy them only when you have established a good credit and driving history. I bought an old car that cost $1500 that I can pay off without loan and I didn't even bother to buy any insurance for the car ,just the liability insurance will do. The final saving is quite tremendous.
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Originally posted by lostintransition:
ooohhh...size 14 is petite..i sure love the sound of it already!! ya..i always enjoy shopping in places like us, australia, nz 'cos can easily find clothes of my size. hate to shop in sg, japan, hk, taiwan....the clothes are made for tiny people and the sizes are getting tinier and tinier! arggghh
oops...i was just thinking about checking out the bank of america in SG to see if i can open an account here and still have easy access when i'm in MA.
For those of us who don't fit into the tiny mold, shopping in the states is heavenly. To be surrounded by women who are larger in girth than moi, makes me feel oh so wonderful.
The average dress size of an American woman is a 16, believe it or not. I have big feet as well so I'm doubly blessed to be here. 
BoA is a good bank but they charge fees for everything. My good pal just quit her job at the BoA because besides being a teller, she had to meet sales quotas. I would say that in the interim, open an account with Citibank, BoA or any US bank in Sg. Once you're here, you can always move your money to a better bank or credit union. You can always withdraw up to US$400 daily from any ATM to tide you over. This is money from any SG bank account. Of course there are exchange rate fees involved but it's super minimal. (From personal experience since I've lived in several countries and US states.)
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Originally posted by homer28:
OMG....Now I know why Sporean are so kiasu after reading how people prepare their move to US.Almost everything you can buy in Spore , you can buy it in the US for a cheaper price.
I only brought USD 1000 when I move to the US.If one is moving to the US for a job, the employer will usually take care of the relocation. Over here, most employee are paid weekly or bi-weekly. You should have sufficient income to buy most of the stuff after 2 weeks.Unless you are planning to buy a new car and not qualify to take a new loan due to no credit history, then maybe you can bring in more cash. For first timer, I would advise buying a cheap used car as you can cut down the insurance by paying full deductible for collision.If one is worry about buying used car, then try buying a brandnew Kia or Hyundai. They only cost between 10K to 12 K and they come with full 10 years or 100000 miles warrantry.They will tow your car if it breakdown anywhere in North America.They also compensate you for any hotel expense incur during the breakdown of your car.
Most important thing in the US for new resident is to build credit score. If you are a Amex holder in Spore, you can apply for a US Amex and start building your credit history straight away..Without a credit score, it is almost impossible to take any loan.Forget about buying house in your few years, without a credit score above 750, the mortgage rate will kill you!
Hey homer! Welcome to SGF's SO board. We'd like to get to know you better. How about an intro in our newbies thread? Where in the states are you at?
Re: Hyundai. We just got one and I got such a steal on it! The Elantra we got also came with 3 months free subscription to XM. I never thought I'd be stupid enough to pay for radio but.....
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Originally posted by homer28:
OMG....Now I know why Sporean are so kiasu after reading how people prepare their move to US.Almost everything you can buy in Spore , you can buy it in the US for a cheaper price.
I only brought USD 1000 when I move to the US.If one is moving to the US for a job, the employer will usually take care of the relocation. Over here, most employee are paid weekly or bi-weekly. You should have sufficient income to buy most of the stuff after 2 weeks.Unless you are planning to buy a new car and not qualify to take a new loan due to no credit history, then maybe you can bring in more cash. For first timer, I would advise buying a cheap used car as you can cut down the insurance by paying full deductible for collision.If one is worry about buying used car, then try buying a brandnew Kia or Hyundai. They only cost between 10K to 12 K and they come with full 10 years or 100000 miles warrantry.They will tow your car if it breakdown anywhere in North America.They also compensate you for any hotel expense incur during the breakdown of your car.
Most important thing in the US for new resident is to build credit score. If you are a Amex holder in Spore, you can apply for a US Amex and start building your credit history straight away..Without a credit score, it is almost impossible to take any loan.Forget about buying house in your few years, without a credit score above 750, the mortgage rate will kill you!
I think the minimum start up for an individual in the US is $5000. Even if you stay in a converted garage you still need to pay rent.
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Hi Jetta, I am pretty much settle down in Washington State. I have been travelling 100% across the States during my first 2 years and nowhere can beat the beautiful Pacific Northwest.
Absolutely, have to agree with you on the shopping experience..It is really the best you can get. Good customer service most of the time. Almost everything you buy, it is exchangable or refundable without hassle. One will only know what is a sales if they ever shop on Post Thankgiving -black Friday..Most retail stores have some of the craziest markdown in price.
Car are really dirt cheap here with all the freebies throw in..I bought a Hyundai for my wife as well, we are offered $200 for lifetime free oil change as long as we own the car and every quarter they will give us coupon for free car checkup and tuneup.
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Originally posted by Arapahoe:
I think the minimum start up for an individual in the US is $5000. Even if you stay in a converted garage you still need to pay rent.
I assume most individuals who are moving to US for job on H1-B would have some kind of relocation assistance from the employer. You don't really need $5000 for a start unless you are bringing the whole family over.FYI, My monthly expense in the US before I got married was about USD 700 which include rental, my grocery , transport cost(gas and insurance).
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well 5k cover your first down payment for your car, 1 month deposit for rent and first month rent. insurance, phone/internet. Not to mention that there are basic things that you need to get to start.
and of course ultimately i think it also see which state you start up.
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Originally posted by homer28:
OMG....Now I know why Sporean are so kiasu after reading how people prepare their move to US.Almost everything you can buy in Spore , you can buy it in the US for a cheaper price.
oops *blush*yes i admit i'm kiasu/kiasi...it's our first big move afterall and it may be for life....so i'm not taking any chances..hence the reason why i'm here trying to learn more from you folks who have 'been-there-done-that'. thanks for letting me know that my worries are unnecessary =)
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Originally posted by homer28:
I assume most individuals who are moving to US for job on H1-B would have some kind of relocation assistance from the employer. You don't really need $5000 for a start unless you are bringing the whole family over.FYI, My monthly expense in the US before I got married was about USD 700 which include rental, my grocery , transport cost(gas and insurance).
my spouse's employer is giving us $5000 for relocation purposes. our monthly rental, despite it being subsidized housing, is already $1000+. and we have no idea if we actually need to place a deposit. -
Originally posted by lostintransition:
my spouse's employer is giving us $5000 for relocation purposes. our monthly rental, despite it being subsidized housing, is already $1000+. and we have no idea if we actually need to place a deposit.You'd be wise to budget for a deposit of at least one month's rental, as most landlords require it.
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Originally posted by homer28:
Hi Jetta, I am pretty much settle down in Washington State. I have been travelling 100% across the States during my first 2 years and nowhere can beat the beautiful Pacific Northwest.
Absolutely, have to agree with you on the shopping experience..It is really the best you can get. Good customer service most of the time. Almost everything you buy, it is exchangable or refundable without hassle. One will only know what is a sales if they ever shop on Post Thankgiving -black Friday..Most retail stores have some of the craziest markdown in price.
Car are really dirt cheap here with all the freebies throw in..I bought a Hyundai for my wife as well, we are offered $200 for lifetime free oil change as long as we own the car and every quarter they will give us coupon for free car checkup and tuneup.
Ooo!!! Where in WA are you? It's my hubby's homestate. We have family in Bellevue, Shoreline, Seattle and Everett. We were hoping to get stationed there for our final orders but we were unceremoniously dumped here in SD so here we shall remain for now. MG is also envying you.
We got married up there and lived there for a bit until we got stationed in Sg. Yes it's pretty up there but I cannot tahan the winters. Damn depressing. The hubby was born and raised there but after so many years of being stationed in warmer and dryer places, he says he can't tahan the weather up there anymore. How long have you been in WA? Tell us about your family? I have two teens, one hubby and two dogs.
We usually make the trek up each Christmas. Maybe this year we can meet up? -
Originally posted by Meia Gisborn:
You'd be wise to budget for a deposit of at least one month's rental, as most landlords require it.
That's wayyyy better than Japan. You need a 5 month outlay. One month equivalent for security deposit, agent's gift, papa-san's gift, first month AND last month's rent and if you have pets, pet deposit. We were out US$12K with one fell swoop.
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Originally posted by jetta:
MG is also envying you.
YOU'D BETTER BELIEVE IT, BUDDY!!!
Seattle's my current favourite city in the US. I would like to eventually retire there.
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Originally posted by jetta:
That's wayyyy better than Japan. You need a 5 month outlay. One month equivalent for security deposit, agent's gift, papa-san's gift, first month AND last month's rent and if you have pets, pet deposit. We were out US$12K with one fell swoop.Wow, I think i can forget in settling down in japan lol. Go there for holiday enuff liao :)
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Originally posted by lostintransition:
my spouse's employer is giving us $5000 for relocation purposes. our monthly rental, despite it being subsidized housing, is already $1000+. and we have no idea if we actually need to place a deposit.
i am not sure if this is relevant but sometime apartment management would want to do a police background check other than credit reference depend on where u stay. Maybe you can obtain a good citizen report from the SG police to say that you have not committed any crime. Might help as character reference. -
Originally posted by Arapahoe:
i am not sure if this is relevant but sometime apartment management would want to do a police background check other than credit reference depend on where u stay. Maybe you can obtain a good citizen report from the SG police to say that you have not committed any crime. Might help as character reference.Good idea!
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Originally posted by Meia Gisborn:
YOU'D BETTER BELIEVE IT, BUDDY!!!
Seattle's my current favourite city in the US. I would like to eventually retire there.
which states does not carry property tax? WA or OR
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Originally posted by jetta:
That's wayyyy better than Japan. You need a 5 month outlay. One month equivalent for security deposit, agent's gift, papa-san's gift, first month AND last month's rent and if you have pets, pet deposit. We were out US$12K with one fell swoop.
some rental apartments in dubai will require the entire year's rental payment upfront!! -
Originally posted by Arapahoe:
i am not sure if this is relevant but sometime apartment management would want to do a police background check other than credit reference depend on where u stay. Maybe you can obtain a good citizen report from the SG police to say that you have not committed any crime. Might help as character reference.
really...the SG police will accede to such requests for reference letters??!! -
Originally posted by jetta:
Ooo!!! Where in WA are you? It's my hubby's homestate. We have family in Bellevue, Shoreline, Seattle and Everett. We were hoping to get stationed there for our final orders but we were unceremoniously dumped here in SD so here we shall remain for now. MG is also envying you.
We got married up there and lived there for a bit until we got stationed in Sg. Yes it's pretty up there but I cannot tahan the winters. Damn depressing. The hubby was born and raised there but after so many years of being stationed in warmer and dryer places, he says he can't tahan the weather up there anymore. How long have you been in WA? Tell us about your family? I have two teens, one hubby and two dogs.
We usually make the trek up each Christmas. Maybe this year we can meet up?ya...given a choice..i'd rather be in the west coast than east coast. hubby stayed in seattle for quite awhile and he really loved it there...especially the drizzles
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Lostintransition, saw this and thought it is useful to u. How do you establish your credit rating and rental history in one country when you're from another one? http://ask.metafilter.com/83077/How-do-you-establish-your-credit-rating-and-rental-history-in-one-country-when-youre-from-another-one
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Originally posted by yt123:
Lostintransition,
saw this and thought it is useful to u.
How do you establish your credit rating and rental history in one country when you’re from another one?
thanks yt123, that's really useful indeed.
i suppose bank statements, mortgage loan repayment statements from SG are of no use at all?