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Making and saving $ tips
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jajdude



Joined: 18 Jan 2003

PostPosted: Thu May 15, 2003 9:00 pm    Post subject: Making and saving $ tips Reply with quote

Any good tips for this? All I can think of is drink as little as possible. But there must be many ways that add up to some amount worth saving.

A few jokes are welcome too: Example: steal toilet paper from public places. Big savings there for sure.
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kimcheeking
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PostPosted: Thu May 15, 2003 9:58 pm    Post subject: Reply with quote

Don't eat in western restaurants (TGIF, Bennigans, etc)
Don't drive (It's bloody expensive, trust me)
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Chonbuk



Joined: 28 Jan 2003
Location: Vancouver

PostPosted: Thu May 15, 2003 10:10 pm    Post subject: Reply with quote

Don't take taxi's-

start drinking at the local 7-11 or LG or a supa with lawn furniture-

summer camps!!!!

only travel once a month


hope this list and your and my bank accounts grow.
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crazylemongirl



Joined: 23 Mar 2003
Location: almost there...

PostPosted: Thu May 15, 2003 10:16 pm    Post subject: Reply with quote

My way out of debt...

get paid in cash

budget out a weekly amount

send cash to offshore account that you can't touch to repay said debts

CLg
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justaskdan



Joined: 28 Apr 2003
Location: Me in Pohang - Oct 20th

PostPosted: Fri May 16, 2003 2:31 am    Post subject: Reply with quote

I've managed to save 800US a month by putting it in an offshore investing account where I buy stocks with it. The brokerage firm is in Luxemburg so it's considered offshore as far as taxation goes for any profits I take on the market.
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Canuck



Joined: 05 Apr 2003

PostPosted: Fri May 16, 2003 2:41 am    Post subject: Reply with quote

Get a wife. I came to Korea 2 years ago, and I spent almost all my money on different things. Now I save at least a million a month. For the last 4 months I was able to save 2 million each month. We put my paycheck in the bank and live on what my wife makes. With 4 months left on my contract Im gonna save an extra 10 million. Ill need it as we are going to Europe for a couple of months in September.
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The Bobster



Joined: 15 Jan 2003

PostPosted: Fri May 16, 2003 3:01 am    Post subject: Reply with quote

I've heard this before from other guys who married Koreans ... it's the custom here for the hubby to hand over all the paybeck to the wife and she gives him an allowance for daily expenses, and more than one such fella told me like this, that we was surprised how much money he'd been wasting on small inconsequentials over the years.

Maybe that's the best plan, then.
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Canuck



Joined: 05 Apr 2003

PostPosted: Fri May 16, 2003 3:13 am    Post subject: Reply with quote

Food is a big expense. Eating out all the time can get expensive. I mean how many guys actually cook at home? I know that I didnt cook when I was single. I probably spent 10 to 20 thousand a day just on meals (something in the morning, a snack at work, dinner and something at night if you got the munchies). Do the math, thats at least 300 thousand won a month. When you get married you eat at home most of the time.

An even bigger expense is the money we blow on booze and women, trying to get laid. When you are married, sex is free and you dont need to go to a night club and shell out 100 or 200 thousand in one evening. Those nights add up. Do the math here. I bet its 400 thousand or more a month.

food and booze is a huge expense. And you are lucky if you live in Seoul, because road trips to Busan or Seoul for a long weekend can approach a million won. I know mine did.

Marriage makes you more responsible.Now you are saving for a future. Plus, you get quite a bit of money from your wife's family, as Korean families put money away for their children's future.
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The Lemon



Joined: 11 Jan 2003

PostPosted: Fri May 16, 2003 3:18 am    Post subject: Reply with quote

Quote:
I've heard this before from other guys who married Koreans ... it's the custom here for the hubby to hand over all the paybeck to the wife and she gives him an allowance for daily expenses.


I can verify this. When we lived in Canada I handled the money. Here, she does. We're doing much better financially under her regime, but that also could be because I'm earning a lot more.

She keeps wanting to show me the books, but I can see she's much more organized than I ever was. And when I "run out of my allowance" she's good about giving me more, though I hate asking.
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Canuck



Joined: 05 Apr 2003

PostPosted: Fri May 16, 2003 3:22 am    Post subject: Reply with quote

Looking at the bank statements makes me happy Im not in control of the money anymore. Women seem much better at organizing the books and managing the money than us guys.
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rudyflyer



Joined: 26 Feb 2003
Location: pacing the cage

PostPosted: Fri May 16, 2003 3:31 am    Post subject: Reply with quote

we are a unique situation here both of us teach we send back one salary for US expenses (CC's, storage, student loans) and live on one salary, we can save about $300-400/month plus Korean pension money we consider savings so add another $200. We use our OT and summer/winter money for vacations, If we didn't go on a 4 week vacation each summer and winter we'd save a ton more but we like to travel.

Here our biggest expense at home is food since we like western food and have an oven we can cook a lot of stuff so we spend like 120,000 won/week on groceries.

What busts our budget big time though is trips to seoul, we can go through a half million won in a weekend between train (100,000) hotel (60-100,000 depending on where we stay and if we stay 1 nite or 2) getting older we've moved away from the hole in the wall yogwons to the mid range hotels like the Kaya, then there is TGI Fridays and itaewon somebody likes to shop Wink

despite all this we do a heck of a lot better than in the US and we get to enjoy it more
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mack the knife



Joined: 16 Jan 2003
Location: standing right behind you...

PostPosted: Fri May 16, 2003 5:03 am    Post subject: Reply with quote

i saved 15million won on a 1.9 million won salary...secret? i cooked a lot of dwen-jang jigye.
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kimcheeking
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PostPosted: Fri May 16, 2003 5:12 am    Post subject: Reply with quote

The Lemon wrote:
She keeps wanting to show me the books, but I can see she's much more organized than I ever was. And when I "run out of my allowance" she's good about giving me more, though I hate asking.


Yeah me too... and we save lots of money. though it is less now that we have a car and baby.
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wormholes101



Joined: 11 Mar 2003

PostPosted: Fri May 16, 2003 5:21 am    Post subject: Reply with quote

Engage in a lot of cultural exchanges...
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matko



Joined: 16 Jan 2003
Location: in a world of hurt!

PostPosted: Fri May 16, 2003 5:23 am    Post subject: Reply with quote

To the parents (Kimcheeking)

Honestly, how much money a month do you spend on baby stuff?

Me and the fiancee are talking about starting a family but I am worried that it will cut into the saving potential. Is it worth it to wait a while and save alot of money and then have a baby or just go for it now? Does it make a huge difference?

I live in Japan, but I figure a baby takes up the same percentage of income in Korea as in Japan.
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