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Where can I save the most money?
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ElleB



Joined: 07 Feb 2005
Posts: 20

PostPosted: Fri Jan 26, 2007 4:58 pm    Post subject: Where can I save the most money? Reply with quote

Hi! Soon I'll finish my second year of English teaching in Japan, and it's about time for me to start thinking about what I want to do next. I'm thinking of staying in Asia one more year to save as much money as possible. I live frugally and consistently send home $800-1000 US each month living near Tokyo. The question is, if I go to Taiwan or South Korea, will I be able to save more than this? For teachers in these countries, how much do you manage to put away each month? What is a typical salary in these countries? What benefits (airfare, housing, food) are usually provided? Is there another country I'm overlooking?

My qualifications are two years experience teaching in Japan, a TESOL certificate, and a B.F.A.
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Gordon



Joined: 28 Jan 2003
Posts: 5309
Location: Japan

PostPosted: Fri Jan 26, 2007 9:38 pm    Post subject: Reply with quote

You could probably save more in Korea, but would probably give up some quality of life you now have in Tokyo. Korean schools provide return airfare, free rent, half medical payments and then a salary on par with Japanese schools. Cost of living is much less than Tokyo as well. Teaching private students is illegal, but many/most do it anyways.
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Glenski



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

PostPosted: Sat Jan 27, 2007 12:50 am    Post subject: Reply with quote

Another problem in Korea is the visa. It's not as secure as your visa in Japan. In Japan, if you lose your job, the visa is still yours until it expires. In Korea, your job is tied to the visa, so you have to get a new one every time you change or lose your job.
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ElleB



Joined: 07 Feb 2005
Posts: 20

PostPosted: Sat Jan 27, 2007 3:31 am    Post subject: Reply with quote

Or how about Hong Kong?
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sidjameson



Joined: 11 Jan 2004
Posts: 629
Location: osaka

PostPosted: Mon Jan 29, 2007 11:10 am    Post subject: Reply with quote

If you are only focused on money I would stay where you are. You would be able to save more in Korea, but the costs of moving and settling in would go well on the way to negating this. I would say it is better to spend that effort in finding extra work where you are and maximizing your saving that way.

If though you also want to see another country then Korea would be the best choice with your quals and experience.

Btw, what is a B.F.A. ?

Bachellors in F@ck All? Sounds like you went to the same university as I did.
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Gordon



Joined: 28 Jan 2003
Posts: 5309
Location: Japan

PostPosted: Mon Jan 29, 2007 11:16 am    Post subject: Reply with quote

Fine Arts.... you know dancing and finger painting
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ElleB



Joined: 07 Feb 2005
Posts: 20

PostPosted: Tue Jan 30, 2007 4:42 pm    Post subject: Reply with quote

Oil painting actually!

I know I could probably earn more money in Japan, but I want to experience living in other countries. Money is only one priority, and it will be important as long as I have student loans to pay off.

Based on my own research, I am going to say that it is possible to save at least $1000 U.S. per month in Taiwan, South Korea, Hong Kong, Japan, and possibly Singapore; and that in China, Thailand and Vietnam I could expect to save $500 U.S. or less. The chances of me saving the most are highest in South Korea, but South Korea is the most difficult of the aforementioned countries in which to work. If anyone out there can contradict me, please do so.
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sidjameson



Joined: 11 Jan 2004
Posts: 629
Location: osaka

PostPosted: Thu Feb 01, 2007 4:00 pm    Post subject: Reply with quote

So I was right then. Smile

Go to Korea, see a new country and save your $1000 a month. Should be more than a $1000 if you make an effort to get better work and do privates.

One thing I would say is to head for a big city. In my experience the angle of lower cost of living in smaller cities is all well and good, but there are far more opportunities to make money where the money is sloshing about. And that is in the bigger city. You can get lucky in a smaller place, but as time is not on your side you are better off heading to Seol etc.
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plutodog18



Joined: 21 Feb 2007
Posts: 2

PostPosted: Mon Feb 26, 2007 7:53 pm    Post subject: Reply with quote

You can save tons of money in Korea. People consistently report saving $12,000 to $18,000/year depending on your lifestyle (i.e. you drink to excess several times a week).

Salaries are much better in Korea. With a TOEFL and an MA you should not settle for less than 2.5 million won/month (about $2650).

Seoul can be great place but crowded. But Busan is a bid city/beach town and good salaries can be had.

Please go to Dave's Korean Job Forum as there is a ton of great info there.

Also many report having the opportunity to earn tons of extra money (50,000/hour) teaching privates. On a E-2 visa this is technically illegal and has some consequences. But it is not rare for this to be going on.

Good luck.
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Mark



Joined: 23 Jan 2003
Posts: 500
Location: Tokyo, Japan

PostPosted: Thu Mar 01, 2007 12:40 am    Post subject: Reply with quote

ElleB wrote:
Oil painting actually!

I know I could probably earn more money in Japan, but I want to experience living in other countries. Money is only one priority, and it will be important as long as I have student loans to pay off.

Based on my own research, I am going to say that it is possible to save at least $1000 U.S. per month in Taiwan, South Korea, Hong Kong, Japan, and possibly Singapore; and that in China, Thailand and Vietnam I could expect to save $500 U.S. or less. The chances of me saving the most are highest in South Korea, but South Korea is the most difficult of the aforementioned countries in which to work. If anyone out there can contradict me, please do so.


This is basically correct, although I think you could save more than $500 a month in China depending on your position. Vietnam, I don't know about.

Hong Kong is difficult to get into and expensive, I imagine it would take some time to get set up there. Taiwan is a good option, but Korea is easier to get set up in. Lots of people knock Korea, but you might like it.

Personally, I always wonder if people are complaining about Korea or if they're complaining about Seoul.
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davilge



Joined: 11 Apr 2007
Posts: 2

PostPosted: Fri Apr 13, 2007 5:13 am    Post subject: Making money Reply with quote

When you make a move it usually means that it will take you 3 - 6 months to get up to full savings potential. If you are only budgeting on one more year then it probably will not be viable.

Also remember: better the devil you know! Korea can be very hit or miss. The best ESL and worst ESL experiences seem to come from Korea.

Why not do one or two summer camps in other countries after your last year?

Best of luck
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The Great Wall of Whiner



Joined: 29 Jan 2003
Posts: 4946
Location: Blabbing

PostPosted: Wed May 09, 2007 3:26 pm    Post subject: Reply with quote

I make about US1,800 a month here in China, and I save about half of that.

Mind you, I spend like there is no tomorrow.

If you live like the Chinese and had my job... You'd save over 1200 a month no problem.
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ghost



Joined: 30 Jan 2003
Posts: 1693
Location: Saudi Arabia

PostPosted: Thu May 10, 2007 5:38 am    Post subject: fact or fiction Reply with quote

The Great Wall of Whiner wrote:
I make about US1,800 a month here in China, and I save about half of that.

Mind you, I spend like there is no tomorrow.

If you live like the Chinese and had my job... You'd save over 1200 a month no problem.


Is your salary in one job? That is rather hard to believe because that would be a salary of about 14000 renminbi.

I am a certified teacher from Canada (certified to teach ESL and FSL/French) and have a B.Ed., M.A. and post graduate certificate in second language teaching and T.E.S.L. but in my job search in China, the typical salaries on offer were around 4000-6000 renminbi per month.

Do you have an M.Ed. or a PhD? If not I find your claims to be rather astonishing.

Ghost in Korea

Note: current exchange rate (May 10/2007) - $1 U.S. = 7.70 renminbi
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saint57



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

PostPosted: Thu May 10, 2007 1:26 pm    Post subject: Reply with quote

My ex takes home RMB 18,000. She gets a free modern furnished apartment. She only has a B.Ed. Ghost, you're looking in the wrong places.
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ghost



Joined: 30 Jan 2003
Posts: 1693
Location: Saudi Arabia

PostPosted: Fri May 11, 2007 2:09 pm    Post subject: China is still behind Korea for salaries Reply with quote

saint57 wrote:
My ex takes home RMB 18,000. She gets a free modern furnished apartment. She only has a B.Ed. Ghost, you're looking in the wrong places.


It would be interesting to know where your ex. receives that kind of salary in China. 18,000 RMB is about $2300 U.S. dollars.

Is she teaching at an International school?

Thanks for any input you may have.

Ghost in Korea
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