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Saving Money as a TESLer?

 
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jezebel



Joined: 18 May 2005
Posts: 53

PostPosted: Tue May 16, 2006 2:22 am    Post subject: Saving Money as a TESLer? Reply with quote

How much money can you reasonably expect to save while teaching ESL? Obviously some countries pay a lot more when converted to dollars or pounds, but if you selected a country with earning potential in mind, how much could you realistically save in a year? This is assuming you live a little more comfortably than a monk, but not exactly living large.

I've heard that the highest paying countries are Korea, Taiwan and Japan (though cost of living cuts into Japanese earnings). Are there any countries I am missing?

Are there other opportunities to expand earnings? I've heard that private tutoring is a good way to make money, but that it's more legally questionable in some places than others.

I hate to make money a deciding factor, and I would ultimately pick a place based on how much I think I would like the culture and the reputation of the school, but at this point money really would make a difference (saving up for grad school). Are there tips for saving more money as an ESL teacher?
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ls650



Joined: 10 May 2003
Posts: 3484
Location: British Columbia

PostPosted: Tue May 16, 2006 2:31 am    Post subject: Re: Saving Money as a TESLer? Reply with quote

jezebel wrote:
How much money can you reasonably expect to save while teaching ESL?

It depends not just on salary but how you live. Indonesia isn't known as a country that's good for saving coin, but I managed to save $500 US/month, while my roommates earning the same pay saved next to nothing. Why? Because they'd be out every night buying Bintangs for 50,000 Rp a bottle. If you down a couple or three beers a night like that, your money disappears pretty fast.

I know of folks who've taught in both Korea and Taiwan, and have managed to bank $1000US/month - but then I've met others who went to those same places and saved nothing.
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saint57



Joined: 10 Mar 2003
Posts: 1221
Location: Beyond the Dune Sea

PostPosted: Tue May 16, 2006 2:44 am    Post subject: Reply with quote

You will hate Korea after six months, but $1,000 a month is easily within reach of anyone. I lived large so I fell a bit short of this. Privates will fall into your lap but just don't be stupid about it. Don't think you're special and won't hate Korea. If you work at a hogwon, I guarantee you will wish you were dead at some point.

If anyone objects to my "hogwons = sheet " statement they are one of three things:

A) Part of the problem- You will find some of the most aweful western people as your co-workers in a hogwon.
B) Replying to this as a newbie in Korea before hitting the six month mark.
Yes, I was able to deal with giant roaches and no heat for six months. When you add 40 classes a week to the mix, 6 months is about the magic number.
C) Lost souls

Is $1,000 a month worth it? You will only understand when you look back at it.
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GambateBingBangBOOM



Joined: 04 Nov 2003
Posts: 2021
Location: Japan

PostPosted: Tue May 16, 2006 4:45 am    Post subject: Reply with quote

I'm in the JET programme. I save $500 minimum a month and have sent back $2000 for several months in a row in the past. Sending home $2000 means that I was pretty much living off a single paycheck for two months in a row (other than rent) and that the previous month I had done nothing socially aside from regular martial arts classes.

$1500 is a good number to shoot for (but I don't go out very often at all other than the martial arts classes and I hardly ever drink), but I find that by the end of the month, I may be just barely scraping by (not buying a whole lot of food for the last week or week and a half, and having no emergency funds ready).

I live in a rural-ish area so going out means going to a city about half an hour by train away.
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tedkarma



Joined: 17 May 2004
Posts: 1598
Location: The World is my Oyster

PostPosted: Thu May 18, 2006 11:44 am    Post subject: Reply with quote

As I have worked almost exclusively university and college jobs, my situation is a little bit different.

I was able to save almost as much in Taiwan as in Korea - but with a better quality of life.

Both places should allow you to save US$10-12,000 per year without counting your pennies.

In Taiwan, working private classes on the side is not as problematic as in Korea.
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sidjameson



Joined: 11 Jan 2004
Posts: 629
Location: osaka

PostPosted: Thu May 18, 2006 12:04 pm    Post subject: Reply with quote

The essaintials in Japan will cost you $1000 a month. Your main job will net you $2500. How much of that $1500 you care to save is up to you. How much you suppliment that salary is also up to. How much success you have in getting the better jobs that are available to people with experience and contatcs is also up to you. In short, realistically you could save $0 to $3000 a month here.
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Glenski



Joined: 15 Jan 2003
Posts: 12844
Location: Hokkaido, JAPAN

PostPosted: Thu May 18, 2006 12:51 pm    Post subject: Reply with quote

I will disagree a bit with sid. Basic necessities, on average, will run you a bit more. Figure spending half of that paycheck, then sorting out other things. Just remember that basic necessities does not include some pretty important things at times:

emergency medical care for one.

Also, being on the JET programme will bring in a higher salary than eikaiwa work (300,000 vs. 250,000), so you have more to play with if you are hired with JET (and even more still if you get your rent paid by JET; this happens in some cases). However, with JET, you may find yourself in the boondocks and isolated so badly that you spend a lot on phone bills or on train trips to "civilization" or on sightseeing.

How much you save depends on many factors:

rent
utilities (and your lifestyle for using them)
groceries (vegan? vegetarian? carnivore? bargain hunter? snacks freak?)
entertainment (video/DVD rentals? booze. nightclubs. late night taxi rides home at double fare just because you stayed out past midnight, etc.)
loneliness factor (phone calls home, for instance)
the urge to sightsee
cost of living (example: Thailand vs. Japan)
supplemental work (taking on private lessons, proofreading, etc.)
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dan_lawrence



Joined: 17 Apr 2006
Posts: 50
Location: FLORIDA USA

PostPosted: Thu May 18, 2006 2:03 pm    Post subject: Fools and money soon parted Reply with quote

It doesn't matter in which country you work or how much you earn. If you spend your dough like a fool, you will end up with bupkis.

If you worked in your home country prior to going abroad and managed to save, you'll be fine. Otherwise, don't keep your fingers crossed.

Very Happy
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khmerhit



Joined: 31 May 2003
Posts: 1874
Location: Reverse Culture Shock Unit

PostPosted: Thu May 18, 2006 2:07 pm    Post subject: Reply with quote

what he said Crying or Very sad
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