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cost of living
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mc_jc



Joined: 13 Aug 2009
Location: C4B- Cp Red Cloud, Area-I

PostPosted: Sun Aug 22, 2010 11:38 am    Post subject: Reply with quote

This thread needs to be updated periodically.
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mmstyle



Joined: 17 Apr 2006
Location: Seoul

PostPosted: Sun Aug 22, 2010 6:08 pm    Post subject: Reply with quote

That is ture, mc_jc. That said, I can still save a million a month. Of course, a million a month is not what it was when I first arrived (in 2006, a million was just over $1,000 USD, and had a much better AUD exchange rate).

On a recent trip to the States, I noticed that the cost of many things had increased significantly (I noticed this especially with food, as that is where I spent a lot of money). The cost of a lot of things that I buy in Korea has changed as well (generally not an improvement). So, the upshot for me is that what I am making in Korea does not go as far when I take it out of Korea.

That said, many people on this website like to discuss how much they are making, and the myriad ways they are making it. I am one of those who prefers to have my free time, and I am not constantly chasing the highest paycheck. So, no I do not make as much money as others who may have arrived at the same time, or have the same experience-which is relevant to savings rates.
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Peter258



Joined: 18 Dec 2009

PostPosted: Fri Aug 27, 2010 1:56 pm    Post subject: Reply with quote

How hard is it to save $15,000 USD on a 2.2 million salary?

That's 2.2 a month, plus severance.

Let's assume I go out to drink 1x a week.
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ttompatz



Joined: 05 Sep 2005
Location: Kwangju, South Korea

PostPosted: Fri Aug 27, 2010 8:10 pm    Post subject: Reply with quote

Peter258 wrote:
How hard is it to save $15,000 USD on a 2.2 million salary?

That's 2.2 a month, plus severance.

Let's assume I go out to drink 1x a week.


depends on what you are drinking.

IF you like $300 bottles of scotch and/or collecting girlfriends it might be hard to save $15k.

If you drink 5x 1liter bottles of beer from the local corner store it will be dead easy.

.
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naturegirl321



Joined: 18 Jul 2006
Location: Home sweet home

PostPosted: Sat Aug 28, 2010 7:58 am    Post subject: Reply with quote

Peter258 wrote:
How hard is it to save $15,000 USD on a 2.2 million salary?

That's 2.2 a month, plus severance.

Let's assume I go out to drink 1x a week.


Possible if you budget. I'm hoping to save that much, I make nearly double, but am paying for myself and my husband, but both of us are studying to get degrees, I paid for his flight over here (which was 1300), three weeks of vacation , plus will spend about another 4K just for Xmas. Rolling Eyes

Then again our idea of fun is staying in and watching movies. We're an old married couple and don't get out much Smile
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adamjohnson



Joined: 11 Jul 2010

PostPosted: Thu Sep 02, 2010 7:42 pm    Post subject: Reply with quote

I dont drink at all. Am I going to be a very rich man in Korea?
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southernman



Joined: 15 Jan 2010
Location: On the mainland again

PostPosted: Fri Sep 03, 2010 7:50 pm    Post subject: Reply with quote

adamjohnson wrote:
I dont drink at all. Am I going to be a very rich man in Korea?


By Korean standards No... by student standards yes..

depending on your lifestyle, acohol isn't the most expensive thing here.. Wink

If you're sensible you'll be comfortable enough and can send money back home and travel overseas each year.

Some people live a frugal hermitlike existense and save a lot of money. That's not for me (shudder) and I still save ok
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MasonMateni



Joined: 29 Aug 2010
Location: USA

PostPosted: Sat Oct 23, 2010 3:52 am    Post subject: Reply with quote

I never quite understood how people were not able to save money in Korea. I didn't live in the big cities, so maybe things were cheaper where I was, and I don't drink, so saved a ton of money from that. I also mostly cooked at home, though still enjoyed going out to numerous restarurants, perhaps once a week or so. If I had not have had bills back home, I would have comfortably saved $20,000. As it is, I think I saved $17,000. I traveled all over Korea, spent two fabulous weeks in China, two expensive weeks in Japan, had a girlfriend, went to movies when I wanted, paid for a gym membership, and again, sent thousands of dollars back hom to pay bills in the states. I also didn't do any private lessons, and had tons of free time to enjoy myself, the mountains, the beach, the islands, and the motorcycle I purchased while there. I worked a public school, though I was making more than the typical 2 to 2.2 million won.
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jasontaylorkorea



Joined: 12 Apr 2011
Location: Toronto

PostPosted: Wed Apr 13, 2011 10:49 pm    Post subject: Working in Busan Reply with quote

Hello I have been offered a position in Busan. It is located near Busan Station in the Jung-gu region of Busan. I was just wondering how this area stacks up to the rest of Busan. In particular:
1- how is the night life
2- How many Foreigners.
3- Proximity to shopping amminities
4- How close is it to the beaches?
5- any other important things that could impact my decision.

Thanks
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gtrain83



Joined: 25 Nov 2010

PostPosted: Thu Apr 14, 2011 8:30 am    Post subject: Reply with quote

Trying to get an idea of how much I can save here while still having a bit of a life. Lets assume I will make 2.2mil won. I know that 400 USD will be going home for bills (ie student loans) each month. Would it still be feasible to save 800-1000USD per month? I do not drink very much but I do enjoy socializing and eating out sometimes. I also will def have a gym membership. I would ideally like to travel to China, Thailand, etc. for a week or so each place I go, as well as seeing lots in Korea. Any thoughts? Thank you.
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