It's important not to underestimate the true cost of living, which includes rent, food, transportation, entertainment, and other expenses. Expatistan.com is a useful tool that can help you compare the current cost of living in different U.S. cities to the cost of living in your home country.

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• Opening A Bank Account

  A bank account makes living in the U.S. easier and is a good way to protect your money. There are several different types of accounts, including savings and checking. We recommend you choose a checking account at a bank that has no minimum balance requirement or ATM fees. It is also smart to choose a bank with a branch or ATM near your residence or host organization. To open an account, you will need these documents:

  • Your passport and J-1 visa

  • Your DS-2019 form

  • Proof of your Social Security application (or Social Security number, if you have received it)

  • Proof of address, such as your rental agreement (or lease)

  • A letter from your host organization confirming your position (not always required)

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• Guidelines To Help You Plan Your Finances

  • Rent A good rule is to spend no more than one-third of your monthly income on rent. Also keep in mind that most leases will require the first month's rent and a security deposit in advance.

  • Utilities Some rentals include heat/air conditioning, water, and electricity; others do not. Be sure to ask. If not included in your rent, there may also be bills for services like cable TV, internet, and phone.

  • Food While it might be more convenient to eat out, it is far less expensive and generally healthier to prepare home-cooked meals. This also creates opportunities to share meals - and your culture - with others.

  • Travel It is a good idea to plan ahead for daytrips and vacations. Make travel a budgeted item, and set some money aside each week for exploration.

  • Entertainment It is easy to spend a lot of money on entertainment in major cities, so choose wisely. Ask your colleagues or supervisor for tips on fun but inexpensive things to do locally.