International Finances Abroad

Salary
Everyone wants to know how much they will get paid teaching overseas. Unfortunately a straight answer is impossible because teachers must consider salaries in light of other benefits offered by the school, like housing and health insurance, as well as the cost of living in the country. In one country a teacher could make $8,000 a year and be able to save $6,000 while in another country a teacher could get paid $38,000 and barely get by. Your contract should outline not only how much you'll get paid, but also how it will be paid, including the salary's currency and the way in which it will be paid (i.e., by local bank account, in cash, etc.).

Debt
Unfortunately international schools will generally not take care of student loan debt for teachers. So, be sure to have your finances in order before you go so that you can have the financial freedom to traveling around your new country. That means your credit cards should be paid down, student loans current, your house rented, and any bankruptcy should be completely discharged. Taking care of obligations back home will allow you to have the peace of mind to enjoy your new life rather than worrying about loose ends at home.

Taxes
When living abroad you may be required to pay local taxes. Your contract should specify as much. You may also have to report your income and pay taxes to your country of citizenship, but probably less than you would if you were living in the country. A quick Google search on tax requirements for U.S./U.K./Canadian citizens will lead you to the information you need. Or, U.S. citizens can learn more about their requirements at the IRS's website, U.K. citizens can read about their responsibilities at the Directgov site and Canadians can find out at the CRA's website.