Expenses

Expenses

There are always some unforeseen expenses when moving and traveling. Here is some information that may help ease your money woes.

BASE PAY:  When you first join DoDDS you will be on a 21 Pay Period. That is you will not be paid during the summer months. After your first year, you can request a 26 Pay Period. 

TRAVEL MONEY:  Korean Won (KRW)

When you arrive at the airport you may want to exchange some US Dollars for Korean Won. This can easily be done, just after you pass through customs. This will allow you to purchase items without having to use a credit card. 

ACCESS TO MONEY:  ATM's and Banks

Community Bank and Navy Federal Credit Union are the two banks located on base. You can use the ATM from Community Bank on to withdraw Won or Dollars from your accounts. Just outside the main gate are several currency exchanges that usually give a better $US to Won rate than the Community Bank ATM.

Foreign Transfer Allowance (FTA):   will help cover your stateside lodging expenses after you pack out and up to 10 days prior to travel, plus you receive $500 if unaccompanied or $1,000 if accompanied for miscellaneous expenses.

Temporary Quarters Subsistence Allowance (TQSA): A reimbursement for food and lodging while you are in Temporary Lodging  up to 90 days. 

ADVANCE PAY: You can apply for up to three months advanced pay when you arrive at your new duty station.  Repayment of the loan is automatically deducted from your first year's pay and is interest free.

Living Quarters Allowance (LQA): Living quarters allowance is the money you will receive to procure off-post housing.

The school staff and HR Dept. will help you process these allowances when you arrive. KEEP ALL YOUR RECEIPTS! Some expenses that don't qualify for reimbursement, may be used as a tax deduction. 

Need more info on allowances? Click HERE.