Job Discussion Forums

[EnglishBrian]

[Glenski]

[schwa]

Not big bucks in the bigger scheme of things, but relative to what posters above are saying, Korea's a pretty good deal.

Fresh off the plane with minimum qualifications (a BA), someone intent on saving could quite easily bank the better part of US$1000 a month from an average entry-level wage. Including going out to eat & drink with some frequency & travelling around.

[blueboy]

I've done it here in Taiwan. Only been teaching six months and I'm on a saving schedule that will hopefully leave me with about $10K US

[moonraven]

It is possible to save money in many venues--depending on your income and your commitment to living frugally. But I believe it should be kept in mind that if one goes into a profession with the idea of saving a lot of money--that profession should not be TEFL. Many other professions are much more lucrative.

[31]

that profession should not be TEFL. Many other professions are much more lucrative.[/quote]

TEFL is not a profession.

[Chris_Crossley]

[Justin Trullinger]

[Spinoza]

[Gordon]

I think saving/investing has many aspects to it. The dollar figure in your bank account is not the only important indicator. Some like Chris, buy a house, others pay off loans and many others like myself are doing graduate work. You can invest in yourself.
Another important question is investing. Who wants to put their money into pathetic savings account making others get rich? I was hoping to buy some property this summer in Canada, only to see the doors close as a non-resident Canadian. Sometimes I envy you Brits and Yanks who can invest in your home country, sometimes. Once you hit the 30+ mark with kids, you need to consider the future and plan for retirement.

[tedkarma]

I was able to save from my very first EFL job - and have been able to save significant sums since then - in every country except Thailand (where the best I could do was break even - and that was not easy!).

But then . . . I've only taught in Korea (easy to save), Taiwan (saved almost as much as Korea), Saudi Arabia (saved a bundle in five years - bad time lots 'o bucks), Thailand (Good time - but no bucks) - and now back in Korea for a few years.

In this business - I think you have to be careful to look out for yourself and plan your finances well. There's not much of a safety net should you hit a bump in the road. Then again, I've been able to save far more than I would have in my home country - in the competition for bigger and nicer houses cars neighborhoods etc.

What Gordon says is important too. Invest in your future. With my "savings", I've been able to buy and pay off several income properties back home - that will support me well when I get old. Being out of the social security system for the last 15 years means my payments will be quite small compared to those who have been contributing. My annual statements indicate I'll get about US$700 a month! - just about enough to rent a dumpster and live and eat out of it. So . . . without my investments - my older years would really scuk!

[moot point]

Glenski,

The little brochure I was referring to was issued by the Japanese tourist board.

[sheena maclean]

Wellimanaged to in my first year teachingin Bogot� but then I�m awfully �taca�a�!! hee hee and I drive a hard bvargain with my students!!! tho havingto pay 3 million pesoson medical bills afterbeingbitten by my flatmates dog and consquently an extra 300.000 on new glassesfor the same reason did eat into them some what!!
but such is life.
Sheena

[merlin]

It all depends on your motivation to save.

One way to do it is to just go one to three months all-out "save mode". You eat cheap meals like spagetti with garlic and olive oil or beans n rice or potatoes n potatoes. You might even fast a few days (It's healthy anyway). Ideally you'd also have a lot of work to keep you busy and not have a lot of free time. For me this is September-October and sometimes January-February. You get so busy you don't have time to spend money.

At the end of 2-3 months of draconian saving you put a big wad of money in the bank - let's say a whole month's salary. Then you go back to living your "normal" life and try not to say "Oh, I was so good I deserve caviar for the next week". You just go back to you "normal" comfort level.

What you don't want to do is make this a permanent lifestyle or you'll go weird. Like the guy I saw in an airport restroom filling up a bottle with handsoap one squirt at a time. Or the "toilet paper thief" at work.

Just once or twice a year 2-3 months at a time then enjoy yourself within your means the rest of the time, especially During Holidays.

[Chris_Crossley]