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Reader Case Research: Dutch Welder Desires of Working Overseas

Reader Case Research: Dutch Welder Desires of Working Overseas


Jamie welding

Jamie lives within the Netherlands and not too long ago accomplished his diploma as an all-around development employee, with coaching in welding. He’s presently switching jobs to grow to be a full-time welder and has two job provides he’d like our assist deciding between. Moreover, he and his girlfriend dream of dwelling and dealing overseas some day. Jamie misplaced his father when he was simply 13 and has been working and serving to his mom financially since then. At simply 21 years previous, Jamie has extra perception, willpower and monetary savvy than most folk twice his age. Be part of me on a visit to the Netherlands as we assist Jamie chart a shiny future!

What’s a Reader Case Research?

Case Research deal with monetary and life dilemmas that readers of Frugalwoods ship in requesting recommendation. Then, we (that’d be me and YOU, pricey reader) learn via their scenario and supply recommendation, encouragement, perception and suggestions within the feedback part.

For an instance, try the final case examine. Case Research are up to date by contributors (on the finish of the submit) a number of months after the Case is featured. Go to this web page for hyperlinks to all up to date Case Research.

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The Purpose Of Reader Case Research

Reader Case Research spotlight a various vary of economic conditions, ages, ethnicities, places, targets, careers, incomes, household compositions and extra!

The Case Research sequence started in 2016 and, to this point, there’ve been 89 Case Research. I’ve featured people with annual incomes starting from $17k to $200k+ and internet worths starting from -$300k to $2.9M+.

I’ve featured single, married, partnered, divorced, child-filled and child-free households. I’ve featured homosexual, straight, queer, bisexual and polyamorous folks. I’ve featured ladies, non-binary people and males. I’ve featured transgender and cisgender folks. I’ve had cat folks and canine folks. I’ve featured people from the US, Australia, Canada, England, South Africa, Spain, Finland, the Netherlands, Germany and France. I’ve featured folks with PhDs and folks with highschool diplomas. I’ve featured folks of their early 20’s and folks of their late 60’s. I’ve featured people who reside on farms and people who reside in New York Metropolis.

Reader Case Research Tips

I most likely don’t must say the next since you people are the kindest, most well mannered commenters on the web, however please observe that Frugalwoods is a judgement-free zone the place we endeavor to assist each other, not condemn.

There’s no room for rudeness right here. The objective is to create a supportive surroundings the place all of us acknowledge we’re human, we’re flawed, however we select to be right here collectively, workshopping our cash and our lives with constructive, proactive ideas and concepts.

A disclaimer that I’m not a skilled monetary skilled and I encourage folks to not make severe monetary selections primarily based solely on what one particular person on the web advises. 

I encourage everybody to do their very own analysis to find out the very best plan of action for his or her funds. I’m not a monetary advisor and I’m not your monetary advisor.

With that I’ll let Jamie, in the present day’s Case Research topic, take it from right here!

Jamie’s Story

Jamie and his girlfriend

Whats up, Frugalwoods! My identify is Jamie, I’m 21 years previous and I reside within the Netherlands. I simply completed my MBO 3 diploma as an all-around development employee, with coaching in welding and am presently switching jobs to grow to be a full-time welder. My girlfriend, Rosalyn, 22 years previous, works as an accountant and lives within the Philippines (Iloilo). I met her on-line by way of an app that was meant to speak with folks and make mates, however we wished extra then that. In June of this yr I flew to the Philippines (first time flying!) and met her in particular person. We actually hit it off and look ahead to presumably shifting overseas collectively. I don’t personal any pets and don’t have youngsters.

I discovered about FIRE from my buddy Jay. She’s given me ideas and proven me a number of stuff I did fallacious. I’ve modified these issues for essentially the most half, however there may be nonetheless rather a lot to study.

What feels most urgent proper now? What brings you to submit a Case Research?

I’ve an issue in the case of my household. My household is poor they usually usually ask to borrow cash, which I’ve to battle to get again. I’m engaged on this and am getting higher at saying “no.” My household has been utilizing me as a free taxi driver, private handywoman, interest-free financial institution, and many others. The quantity of debt my relations owe me totals €47,495.

I even have a concern of spending cash. I began working once I was 13 as my father handed away again then, and my mom made nowhere close to sufficient cash to outlive. After college, on weekends and holidays, I went to work. There have been a pair instances we have been nearly homeless, however I managed to pay our payments on time. That is what makes me have a concern of spending. I don’t ever wish to return to these instances and I don’t need my potential future household to ever expertise this. However I don’t remorse my previous as a result of these experiences made me the hard-working particular person I’m in the present day.

I additionally wish to transfer away from the Netherlands finally, most likely by working overseas in different international locations. What I hope to get from this Case Research are some helpful ideas so I can finally obtain my targets.

What is also urgent presently is selecting my profession path. As of now, I’m desirous about taking a brand new job for 1 to 2 years to economize and hopefully be paid again by my household earlier than shifting overseas.

I presently have two job provides to think about:

Jamie welding

1) a higher-paid, normal welding job.

2) a lower-paid welding job, however one the place I might study pipe welding.

This second job would require me to remain longer, or pay again the price of education if I didn’t stay with the corporate after ending their courses. Pipe welding has the potential to pay much more in a while, however I additionally assume it’s one thing that may be discovered on the job, since I already know normal welding.

I do wish to journey overseas finally, for the journey, and simply to find out about completely different folks and locations and see if elsewhere is a greater match for me than the Netherlands.

Does anybody have ideas on the place to go overseas to work as a welder?

I ultimately wish to work overseas for 1 to 2 years, after which resolve to both keep, transfer ahead to a distinct nation and see if that’s a greater match, or return to the Netherlands. Does anybody have recommendation about this?

What’s the very best a part of your present life-style/routine?

I like the sphere I’m in, however not a lot my final job. I even have a number of aspect jobs that are okay too, equivalent to: watching pets/youngsters, serving to renovate homes, engaged on again/front-yards, taxi driving, and many others. These aspect jobs will not be official, and I don’t cost a lot for them, as they’re both straightforward jobs or jobs I study from, which finally will likely be helpful once I reside by myself.

I nonetheless reside with my mom to economize, however, I’ve helped her financially since my father handed away once I was age 13 (I’ve lent her €38,245 in whole).

The place Jamie Desires to be in Ten Years:

Funds:

Life-style:

  • I would like to have the ability to journey the world and never have to fret about funds on a regular basis.

Profession:

  • I’m serious about finally having my very own welding office or store, and probably rental properties.

Jamie’s Funds

Observe: all quantities are listed in Euros (€). As of this writing, €1 = $1.05 US {Dollars}.

Revenue

Merchandise Quantity Notes
Welding job €1,627.12 My internet wage with taxes and insurance coverage taken out
Month-to-month subtotal: €1,627.12
Annual whole: €19,525.44

Observe: I additionally usually earn €500-€1,500 per 30 days from my aspect jobs, however I didn’t embrace that within the whole because it’s variable.

Money owed: None

Belongings

Merchandise Quantity Notes Curiosity/kind of securities held/Inventory ticker Identify of financial institution/brokerage Expense Ratio
Funding account €5,471 my dealer A number of index funds equivalent to iShare Core MSCI World UCITS ETF USD (Acc) degiro 0.98%
Financial savings account €4,523 my financial savings account the place I retailer my leftover cash, donate cash, lend cash to assist my sister’s youngster, investing cash, financial savings for a brand new automotive earns 0.40% curiosity leaseplanbank N/A
Deposits €2,000 2 deposits of 1k every, one ends 1 oktober 2022 the opposite 6 april 20023 0.25% curiosity leaseplanbank N/A
Money €1,254 no curiosity/charges N/A N/A
Checking account €300 I be certain there may be simply sufficient cash in there to pay payments pupil account, no charges ABN Amro 0%
Whole: €13,548

Automobiles

Automobile make, mannequin, yr Valued at Mileage Paid off?
Peugeot 206 €1,200 212,836 km sure
Bicycle €1,000 150,00km sure
Whole: €2,200

Bills

My bills are a bit uncommon as a result of I reside with my mom and she or he pays for my meals, housing and utilities. In alternate, I assist her round the home, repair her automotive and do different odd jobs for her. I’ve additionally lent her €38,245 to assist her out through the years.

Merchandise Quantity Notes
medical insurance €142
touring €142 trip to my girlfriend
gas for automotive €60 I exploit my bicycle as usually a attainable
automotive financial savings €40 Financial savings for a brand new automotive
taxes €27
christmas €21 christmas presents for 3 folks and my girlfriend out of the country
birthday presents €20 most presents I make myself, I do need to pay for supplies and transport to a different nation
charitable donations €10
commerce union €2
garments €1 I barely purchase garments. Most of my clothes was given to me for a birthday/vacation or are hand-me-downs
Month-to-month subtotal: €464
Annual whole: €5,568

Credit score Playing cards: none

Jamie’s Questions for You:

1) I’ve a troublesome choice forward as I’ve to decide on between 2 jobs:

  • At job #1 I might be a welder, at a better pay, however I wouldn’t discover ways to weld pipes. I’m unsure, however I feel if I wish to weld aboard I’ll want pipe welding expertise and I don’t know if a future employer could be keen to show me. However this job does pay higher and I wouldn’t be hooked up to a college. Plus, I might discover ways to MIG weld at this job, which is a profit as I feel a number of employers count on a welder to have the ability to do each TIG and MIG welding.
  • Job #2 would give me the chance to study TIG pipe welding (I can TIG weld, I simply don’t have expertise with pipes but) however I might additionally must go to high school as soon as per week, which this firm would pay for. Nevertheless, since I don’t plan on staying for years at this firm right here within the Netherlands, I might finally need to pay all of it again. In order that’s a little bit of a destructive about this job.
  • Which ought to I select?

2) I would really like ideas on learn how to higher my monetary scenario.

  • And, if I’m doing one thing fallacious, what ought to I modify?

3) I want to work overseas as welder–anyplace on the planet the place they want a welder.

  • Does anybody have recommendation on learn how to get began?

Liz Frugalwoods’ Suggestions

Jamie welding door handles for a battleship. (I welded the “panic room doorways” for these ships, which I used to be happy with to have that as my first challenge on my identify with 5 certificates)

Jamie, you’re doing fabulously properly for being solely 21 years previous! I actually wasn’t this financially organized at 21 and I feel many of the readers will concur!! I commend you for eager to plan in your future at such a younger age.

You must really feel very proud that you simply’re taking these accountable, proactive steps. The monetary decisions we make as younger adults can have a profound influence on our longterm monetary well being and total internet price, so it’s VERY thrilling to work somebody proper at first of maturity!

Jamie’s Query #1: I’ve a troublesome choice forward as I’ve to decide on between 2 jobs.

This can be a nice downside to have!! Whilst you’ve clearly outlined the professionals and cons of every job, the selection is fairly clear in my view: Job #2 the place you’d study TIG pipe welding.

I’m (clearly) not a welder, however my husband is an newbie welder and he weighed in along with his welding-related opinions:

“Completely take the job in TIG pipe welding as that’s a talent that’s all the time going to be in demand. Plus it’s nearly all the time worthwhile to get extra coaching while you’re younger. Keep at this job throughout the coaching program and get good at it. Be taught every part you’ll be able to and get as many certifications as attainable out of your employer. It’s an incredible reward to obtain coaching paid for by your employer.

TIG pipe welding is a real artwork type and a specialised talent that individuals can pay rather a lot for. You’re younger and energetic, so get good in any respect the bizarre physique positions you will be put in whereas pipe welding (above your head, round a bend, and many others). There are literally thousands of miles of piping on the planet that must be welded by a gifted TIG pipe welder. Anyplace the place there’s industrial exercise, there’s a necessity for extremely expert TIG pipe welders. Figuring out TIG pipe welding ought to open up worldwide jobs for you.

One factor to bear in mind is that welding will be on a increase/bust cycle as a result of the most important customers of pipe welding are associated to grease and fuel. When oil and fuel are booming, there’s a ton of cash to be made. After they’re crashing, the job market is tighter. On condition that, the extra trainings and certifications you may have, the extra employable you’ll be.”

Thanks, Mr. Frugalwoods!

my closing college examination challenge, my instructor was amazed how properly it turned out as it’s absolutely handcrafted

Okay, so he’s very emphatically in favor of you studying TIG pipe welding. I then requested him about the truth that the opposite job would educate you MIG and he replied:

“For those who’re a very good TIG welder, MIG may be very straightforward to select up. TIG welding is far more sophisticated and finest discovered from an expert. However, you should buy an inexpensive MIG welder and educate your self MIG at dwelling.”

Past the TIG versus MIG dialog taking place up there, listed below are my ideas on why it is best to take the pipe welding job:

  1. Getting all of the certifications you’ll be able to whereas younger is SO SMART. I’ll inform you from expertise that life usually solely will get busier and extra sophisticated as you grow old. Do it whilst you’re YOUNG and unencumbered!!!!
  2. Having your employer pay for this coaching is unbelievable. Make the most of this reward!
  3. It’ll look superb to any future employer that you simply stayed at this job for awhile. Future employers wish to see that you simply persist with a job and don’t go away it after a brief time frame.
  4. Taking this job will provide you with time to avoid wasting extra money and do extra analysis on the place you may prefer to/have the ability to work and reside overseas. Additionally, in case your relationship along with your girlfriend progresses and turns into extra severe, it’ll be good to take her opinions under consideration as to the place you may transfer. Working this job for a couple of years will provide you with the time to discover all of those completely different choices and concepts.

Jamie’s Query #2: I would really like ideas on learn how to higher my monetary scenario.

You’re beginning out from a place of power and so most of my suggestions are to easily proceed in your present path! At this level in your life, my recommendation is to:

my girlfriend and I strolling on the seaside in Iloilo

1) Earn extra money:

  • You’re already within the means of doing this, in order that’s nice!
  • All you are able to do right here is figure exhausting, get extra certifications and proceed to advance.

2) Cease lending cash to your loved ones members:

  • This can be a tough concern and also you’ve already articulated that you simply’re getting higher at saying “no,” which I feel is sensible.
  • Sadly, it’s possible you’ll not ever be paid again by your family members and you could have to let this cash go. It’s not your fault as you have been making an attempt to be a useful, caring particular person; however, it’s very attainable they gained’t ever pay you again.
  • Going ahead, I feel it’ll be helpful so that you can provide you with some ways/methods for shielding your self from these requests.
  • For those who do resolve to lend cash sooner or later, I encourage you to think about it as a present somewhat than a mortgage. It is rather exhausting to recoup private, casual loans and so, if in case you have the monetary capability and need to present cash to a relative, maybe re-framing it as a present would make it extra psychologically tenable for you.

I made this for my mom’s birthday reward

3) Take into account seeing a therapist to assist heal your previous monetary trauma:

  • I strongly suggest you contemplate going to remedy. I say this as a result of a therapist may assist you to decide how to answer requests for cash from your loved ones and likewise offer you coping methods for therapeutic your previous monetary traumas.
  • You’re so younger and will likely be in such a beautiful place in a while when you take care of the feelings and trauma round these points sooner somewhat than later.
  • You may make no higher funding in your self than in your psychological well being! 
  • Know that monetary trauma is an actual factor many individuals endure from and it’s not your fault.
  • You talked about you may have a concern of spending cash, which is one other factor a therapist may assist you to unpack.
  • Moreover, the extremely difficult circumstance of supporting your mom after the demise of your father makes me assume a therapist could be a really useful useful resource for you going ahead.
  • I’ve been to remedy quite a lot of completely different instances and I all the time emerge feeling higher!

4) Decide an exit plan out of your mom’s dwelling/monetary assist:

  • You two are very reliant upon each other financially and, as you propose to maneuver overseas, you’ll must work together with her on learn how to separate yourselves.
  • As you famous, your dwelling bills are very low attributable to her assist and she or he is equally supported by the cash you’ve lent her through the years.
  • Except your longterm plan is to have your mom transfer overseas with you, now’s the time to start out speaking together with her about how she’ll cope with out you–and vice versa.

Asset Overview

Let’s check out the place Jamie’s cash is true now.

Money: $8,077

On the seaside with my girlfriend

Because it stands, this can be a strong emergency fund. Nevertheless, it’s necessary to do not forget that your dwelling bills are artificially low. When you’re dwelling by yourself, your bills will improve fairly a bit and so that you’ll want to make sure you’re sustaining your emergency fund financial savings when you’re paying in your personal hire, utilities, meals, and many others.

Investments: $5,471

Whereas it’s superior that you simply’re invested out there, hold retirement investing in thoughts too! I’m wholly unfamiliar with retirement plans within the Netherlands, however, that is one thing you wish to begin doing as quickly as attainable. The sooner you start saving in your retirement, the higher off you’ll be in the long term.

I do know it’s exhausting to consider retirement while you’re simply beginning your profession, however your older self will thanks! Discover the retirement account choices supplied by your employer and/or the federal government and decide what is going to take advantage of sense so that you can start contributing to. My suggestion is to plug into on-line FIRE communities within the Netherlands to get their recommendation. One place to start out is the Mr. Cash Mustache discussion board sub-group Dutch Mustachians.

Trying Forward

You’re doing every part you’ll be able to at current; however, it is best to hold the next pointers in thoughts for the longer term, as your earnings–and your bills–improve:

  1. At all times hold an emergency fund of three to 6 months’ price of your spending:
    • That is your buffer in opposition to debt and it’s an crucial a part of everybody’s monetary well being.
    • Your emergency fund needs to be stored in an easily-accessible account, equivalent to a checking or high-interest financial savings account. It shouldn’t be tied up in illiquid property, equivalent to homes/vehicles/vintage china OR the inventory market.
    • You must have the ability to withdraw the funds instantly and at any time. That’s why it’s referred to as an “emergency fund”–it’s there to make emergencies simpler.
    • A part of this train is to all the time make sure you’re money flowing your bills each month and never spending greater than you earn.
    • Be sure that this stays on observe as your earnings and bills improve.
  2. My bicycle: how I get all over the place

    Make investments for retirement:

    • As famous above, it’s necessary to maintain this prime of thoughts and to prioritize it forward of different funding automobiles.
  3. Stay debt-free:
    • You’re off to a unbelievable, debt-free begin–goal to maintain it that means!
  4. Elective: Discover different funding choices:
    • For those who’ve accomplished steps 1-3 and are prepared for extra, you can begin researching the world of funding choices.
  5. Ongoing: Rebalance, check-in, scan for brand new funding alternatives:
    • Put your self on a schedule of checking in on the entire above:
      • Is your emergency fund staying in step with your spending?
      • Are you continue to on observe for retirement?
      • Have any money owed cropped up that must be paid down?
    • Whereas it’s a linear checklist, it’s additionally one that you must frequently loop via as a result of life occurs and issues change.
    • Because you’re already invested within the inventory market, you’ll wish to rebalance your portfolio regularly and be certain that your investments match your plans, your age, and your private threat tolerance.

Jamie’s Query #3. I want to work overseas as welder–anyplace on the planet the place they want a welder.

I’m no welder, however right here’s my normal recommendation:

Welding helmet selfie

1) Make your self fascinating to future employers:

  • Be taught as a lot as you’ll be able to at your subsequent job.
  • Safe all of the certifications and attend all of the trainings you presumably can.
  • Be an superior worker to make sure you obtain nice suggestions.
  • The extra skilled you’re, the simpler it’ll be so that you can discover a job overseas.

2) Decide if it will likely be best to stay throughout the EU:

  • I’ve to think about this would be the case. In gentle of that, ought to EU member states be the start line in your analysis?
  • For those who’re keen to go exterior of the EU, contemplate what elements of the world attraction to you:
    • What climates do you get pleasure from?
    • Do you wish to be city or rural?
    • Do you wish to be someplace with public transit?
    • What languages do you converse?
    • What meals/recreation/tradition do you get pleasure from?
    • How lengthy of a flight dwelling are you keen to tolerate?

3) Analysis, analysis, analysis:

  • Ask your welding colleagues for recommendation, learn on-line welding boards, and analysis the place you’d have the ability to get a piece visa.
  • Are there international firms you possibly can work for who would ship you to completely different elements of the world for numerous completely different jobs?
    • If an employer is managing your visa paperwork, it’ll be rather a lot simpler on you.
    • However, you’ll have much less management over the place you go.

4) Take your time these subsequent few years to immerse your self in studying:

  • Be taught as many various kinds of welding as you’ll be able to
  • Be taught as a lot as you’ll be able to about the place you’ll have the ability to get a job overseas

Abstract:

  1. Flying to see my girlfriend

    Take into account taking Job #2 with a view to study the talent of TIG pipe welding at your employer’s expense.

  2. Work with a therapist to:
    1. Set agency boundaries with family members asking you for cash and free labor.
    2. Heal the previous monetary and emotional traumas of your father’s demise and your subsequent function as supplier in your mom.
    3. Set up a wholesome relationship with cash and spending.
  3. Arduous as it’s, know that your family members could by no means pay you again:
    • For those who resolve to lend cash to anybody sooner or later, contemplate it a present, not a mortgage.
  4. Proceed saving cash as you may have been and monitor your account balances as your earnings and bills improve.
  5. Analysis retirement account choices and start saving in your retirement now.
  6. Start to speak along with your mom about how she’ll cope while you transfer overseas.
    • Begin making a plan together with her now in order that it’s not a shock while you do finally go away.
  7. Begin researching the place you may be keen/in a position to work overseas.
  8. Really feel assured and comfortable that you simply’ve put your self in a FANTASTIC and enviable monetary place! You’re going to do nice!

Okay Frugalwoods nation, what recommendation do you may have for Jamie? We’ll each reply to feedback, so please be at liberty to ask questions!

Would you want your personal Case Research to look right here on Frugalwoods? Apply to be an on-the-blog Case Research topic right here. Rent me for a non-public monetary session right here. Schedule an hourlong name with me right here, refer a buddy to me right here, or electronic mail me with questions ([email protected]).

Oh, and earlier than I neglect… Be part of a UFM Mastermind Group!

Cash is one thing we’re not supposed to speak about and so many people don’t. We harbor secret considerations, joys, frustrations, questions and don’t have an outlet for them. That is that outlet! These teams are the place to debate each single bizarre cash query you may have. These teams are the place to share each single cash success you expertise. These teams are the place you’ll discover camaraderie and assist.

There’s no query too huge or too small for the teams to handle as a result of, for many of us, our monetary educations started after we grew to become adults, after we made some severe monetary missteps (anybody bear in mind my story about overdrawing my checking account in my 20s?). We really feel like we SHOULD know these items and SHOULD have the ability to handle our cash and so we don’t ask for assist. Let your self off the hook and come be a part of us.

These Teams Exist to Deal with:

❤️ The shortage of neighborhood and assist you are feeling in your monetary journey.
😱 Emotional turmoil round cash–or monetary trauma–that has sabotaged your previous efforts to enhance your monetary well being.
🤑 Sophisticated household dynamics and historical past that make it intimidating to determine learn how to change your method to cash.
👀 An lack of ability to stay with the habits promoted by the Uber Frugal Month for the long-term.
📚 A concern that you simply’re the one one who doesn’t perceive monetary terminology & jargon.
🧠 Lack of readability in your long-term targets and the way your cash may influence your future.
🤷‍♀️ A disconnect between you and your companion/partner about how cash needs to be managed.
👎 Undesirable monetary routines/expectations you’ve arrange along with your youngsters and wish to change.
😬 Disgrace and guilt over not taking cost of your monetary life sooner.
🤦‍♀️ Embarrassment over your lack of non-public finance data.
👏 create a sustainable cash plan that you simply really can–and can–comply with.

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