Spending Money
AFS-USA recommends you bring around USD $2,500 for personal expenses for the year program or $1,250 for the semester program. This should cover personal expenses like personal hygiene products, entertainment, social outings, gifts, and your school yearbook. You should NOT expect your host family to pay for these expenses. Please do NOT bring more than $100 in cash. Traveling with cash is risky because there is no way to recover it if it is lost or stolen. Participants on the YES or FLEX program will receive a monthly stipend to cover personal expenses.
Money Management
It is very common for hosted participants to have bank accounts, debit cards, or even credit cards in their home country. You may wish to check to see if the bank in your home country has any partnerships with U.S. banks. Such partnerships might enable you to access your money without being charged any additional transaction fees for any purchases made outside of your home country. You may also wish to ask your host family about the possibility of setting up a bank account in the U.S. for simpler money management, however, participants must not open joint bank accounts with a host parent or another person.
Remember: Host families have agreed to take care of what we call "room and board." This means that they provide you with a bedroom and meals, including lunches to take to school (if your school does not provide lunch), and meals out when the family goes out to a restaurant.
What about other expenses?
You will probably be invited to go out to eat or to the movies while you are here. The invitation to go does not mean that the person inviting you will pay for you. In U.S. culture, it is common for each person to pay for their own costs. To avoid misunderstandings, when your host family or a friend invites you out ask, “How much will it cost?”
- If they say, “We'd like to treat you,” then you don't need to worry about the cost of the ticket. The host family or friend will pay for you.
- But if they say, “It will cost ten dollars,” it means they expect you to cover the cost. You can then decide whether to go based on your budget.
- It is ok to ask, "Can you tell me more about it before I decide?" so you can decide if this is something on which you want to spend your money.
- If you decide you would like to go, simply say, "I'd like to go. Thanks for inviting me.”
- If you feel you cannot afford the outing, it's ok to say, "I'm afraid that is a bit too expensive for my budget, but thanks for asking." You may also suggest an alternative activity for another date, so the person knows that you are still interested in hanging out.
You can help by understanding that your host family may not be able to do as many things with and for you as they would like. One way that American families cut down on costs is by doing several errands in one driving trip or doing all of their grocery shopping once a week.
It is important to cooperate and be understanding if your host family cannot take you to a store immediately when you want or need to buy something. Your host parents may prefer that you write down what you want so that they can pick it up the next time that they plan to go shopping.
If you haven't already done so, please review the Participant and Host Family Questionnaire so you'll know your host family's feelings about expenses and other important issues.
U.S. Currency
The U.S. uses dollars ($) as the basic unit of money. There are two types of money: coins and paper bills. Please note that our coin size does NOT correspond to its value.
Bank Account FAQs
Should I plan to open a bank account in the U.S.?
If you are on the YES or FLEX scholarship program and receive a stipend, or if you brought a large sum of money with you, you may want to consider opening a bank account. Opening a bank account varies from region to region but generally requires that you present your passport and DS-2019 form, as well as a piece of mail showing your host address on it. One of your host parents should come with you to the bank in order to help answer any questions the bank might have and also to show proof of address. Some banks might require additional documents like a W-8 or a W-9 form, which they will provide onsite. You can open a bank account without a social security number. For more help or questions about opening a bank account, please contact your liaison or a local volunteer.
Can hosted participants open a checking account, since they are under 18? NO. Someone must be 18 years or older to open a checking account in their name only. Minors (under age 18) cannot own a checking account in their name alone. A person must be at least 14 years of age to open a checking account. However, a legal guardian co-owner/co-signer is required for minors (younger than 18 years) that want to open a bank account. Students must not open a join bank account with their host parents. Host parents have been advised of the same.
What is the best type of card, debit card or credit card? Debit cards transfer money directly from your checking account with a bank. Credit cards charge interest unless the balance owed is paid off in full immediately. What is most important is that hosted participants and their parents liaise with their bank/credit card issuer BEFORE going on program to be sure that their debit/credit card will work in the USA.
Earning Extra Money
You may be interested in earning extra money to help with some of your personal expenses while in the U.S. However, under the conditions of your visa, according to U.S. Department of State Regulations, exchange students may NOT be employed on either a full or part-time basis. You may, however, perform occasionally jobs/tasks such as babysitting or yard work.