Teach English In Korea; Saving Money?
Most of what I have read about teaching in Korea sounds great but I haven't read much on how easily it is to save money while teaching. If an instructor is making 2.0 - 2.4 and lives with an intention of saving money every month what can an instructor hope to save per month? Thank you for your insight.
Public Comments
- You have to learn to like the food to really be able to save. There are Mcdonalds and BK's but to get a good steak you will pay. I guess you can cook at home but again getting american food will be difficult and a little costly. So learn to enjoy the food a typical lunch is about 5 dollars. It is much more nutritionally sound than fast food. If you want to enjoy a night out learn to enjoy Soju. It is cheaper. If you go to hotel nightclubs you'll be paying 10 dollars a beer. Try a local Hof you can get fried chicken and a few beers for under 20 dollars. Try to do as much as possible the "local" way. You'll end up saving a lot more money.
- To be simple, it's easy to save 50% of your income even if you go out every weekend. It all depends on lifestyle, but if your housing is including in your compensation then you can live comfortably and eat well for 200,000 to 250,000 korean won per week. Korea is still the way to go for saving money. And if you really want to put away some money, you can teach private lessons (this is not legal) and make anywhere from 30,000 to 50,000 an hour doing that. It's very possible to make between 3 to 6 million here a month depending on how much you want to work.
- I agree with teh first 2 answers. I assume you expect to travel by subway/bus and eat Kroean, right? All western products will cost you. But you can buy chicken kebab or mandu (dumplings) on the street for a dollar when out at night. When grocery shopping, all forms of meat and fish are expensive. We are experimenting with imported US beef, (cheaper), but it is not going so well. But if you like eating rice/noodles/tofu.. good prices. You can buy your veggies and fruit from the street sellers very cheap too. (bag of plums for bunch of bananas for $2) For nightlife, I suggest you stay in University area bars and go with cheap pitchers or soju. (Hongdae or Sinchon areas are best) So, yes, I think you can save the 50% suggested above.
- Teach in Japan. They're nicer, more legit, and pay more while subsidizing living expenses. Really nice peeps. Yen is stronger too enabling you to travel many places cheaper.
- OK here is my monthly budget. Housing paid. Electricity/Apartment maintainance = 50'000Won Cellphone = 30'000Won Gas = 15'000Won Internet = 25'000Won Food = 100'000Won Snacks = 100'000Won Days out, touring sight seeing etc = 50'000Won Bank Charge Wiring money home = 25'000Won Miscelaneous = 100'000Won So as you can see I budget to spend about 1/4 of my salary. and the rest is wired home. If you can pick up some privates then yes you will save alot of money. And if you aren't an alcohic reject like most of the foreign losers in Korea then you will be able to save so much more of your salary than them.
- Ok, one person can live on 20 000 won per day x 30 days = 600 000won pm 100 000 won a weekend X 4 weekends = 400 000 (those nights out) Thus about 1 000 000 pm Let's say you make 2.4 then you should be able to take about 2.0 home and thus save 1.0 a month. Many people live / have lived on less and have saved more BUT you have to look after yourself and treat yourself from time to time. Forget about extra money from privates as it is AGAINST THE LAW for a VERY good reason! The bottom line is that you'll get a different story from each person you talk to. It all depends on you. I hope you enjoy your stay in Korea.
- You may have a look at: http://www.englishteachingkorea.com/EnglishTeachingKorea.pdf i found it very informative; Good Luck.
