Gap Year / Study Holiday US/UK

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  QW3RTY on 21/08/2014 - 10:48

  Significant gaps of unemployment - We'll be unemployed Jan-Mar.

  I'll have to arrange an overdraft with the bank just in case we fall into arrears. We're trying to cut back now to save money.

  Ballastpoint, all I can say is you're a lot ballsier than I am. I'd be hunkering down significantly.

  Remember, if you're going to the USA or the UK to work, you could find yourself on a lower salary than Australia. I looked at similar positions in San Francisco to what I'm doing now, and they were offering about 20% less for the same role — and that seemed to be the market rate across competition. Purchasing power parity, and all that jive.

  If you can guarantee that you'll be getting the same amount of money or more than you're getting in Australia, and using that cash to service your property and any overdraft that you take out (together with all those delightful international exchange fees) — sure, go for it. It'll be a bit of fun. But I personally would find it very stressful to be earning a lower "real" wage, servicing Australian property debt.

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  blueskyfridays on 21/08/2014 - 14:52

  Yes it's a gutsy move. I was doing research in the US and some states are so much cheaper than here. Sydney is so expensive in comparison.

  Alternatively we may do a shorter holiday and still base ourselves in Sydney.

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  donbot on 21/08/2014 - 15:44

  +1

  Remember your tax return will probably be a boon if you're on a good salary now.

  Eg. Earn fulltime wage to December 2014, then earn nothing from Jan-June 2015. Come return time, you should get a sweet refund as your tax withheld assumes you earn that for the full year.