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James Hetfield
Joined: 24 Feb 2007
Posts: 99
Location: Los Angeles
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 Posted: Tue Nov 04, 2008 5:43 pm Post subject: Best place to teach for US$ exchange rate? |
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Where in Latin America could I get the most value living on my US$ as I look for a teaching job?
With FX markets in turmoil, the FX rate alone may not give an accurate impression of the best place for an American refugee living on US$. Pesos in Argentina and Mexico have fallen against the US$, but that does not tell you local inflation rate: Falling currency means nothing if local prices suffer runaway inflation.
Teachers now in Latin America, what is your local inflation and FX rate versus US$? PLEASE STATE WHERE YOU LIVE!  |
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naturegirl321
Joined: 04 May 2003
Posts: 9041
Location: home sweet home
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| Posted: Tue Nov 04, 2008 7:23 pm Post subject: |
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| Peru looks like a good bet. Before it was 2.8 soles for a dollar, it's up to 3.1 . BAd news for us who get paid on local currency. |
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stillnosheep
Joined: 01 Mar 2004
Posts: 2068
Location: eslcafe
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| Posted: Wed Nov 05, 2008 10:38 am Post subject: Re: Best place to teach for US$ exchange rate? |
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| James Hetfield wrote: |
Teachers now in Latin America, what is your local inflation and FX rate versus US$? PLEASE STATE WHERE YOU LIVE! |
It's not the inflation rate that matters, it is the cost of living (relative to US). Inflation just indicates changes in the cost of living. Low cost of living (relative to US) with high inflation is still better than high cost of living (relative to US) with low, no, or even negative inflation.
Google the big mac index for your answer on the relative cost of living in different Latin American countries. |
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James Hetfield
Joined: 24 Feb 2007
Posts: 99
Location: Los Angeles
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| Posted: Wed Nov 05, 2008 6:51 pm Post subject: |
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Great advice Sheep! Look at The Economist 2008 Big Mac Index:
http://www.economist.com/finance/displaystory.cfm?story_id=11793125
Review comments link at bottom of index complaining the index is inaccurate. Is Index accurate for your own cost of living?
Please STATE WHERE YOU LIVE: Comment on your local market:
US$ FX RATE? INFLATION? COST OF LIVING? RENT?
LOCAL MARKET DEMAND for TEFL teachers? VISA hassles that discourage TEFL?
TEFL Teacher Pay versus Local Middle Class Pay?
LOCAL RESPECT Index: Get respect? EFL teachers valued or dismissed as backpacker nuisance? |
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Justin Trullinger
Joined: 28 Jan 2005
Posts: 3110
Location: Seoul, South Korea and Myanmar for a bit
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| Posted: Thu Nov 06, 2008 2:16 am Post subject: |
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Ecuador. Currency is the US dollar, so exchange rate has been moot for several years.
Cost of living, moderate for Latin America.
Look to spend $150 TO $300 per month on rent, depends what you're into.
I spend $50 or so a week on groceries, but usually eat at home and am into really good food. You could eat on less, specially if you like cheap but filling almuerzos for $2.
Transport medium cheap. Taxis $1.50 t0 $4- buses $0.25-
Teacher's salaries $500 to $900 per month.
Deposit on flat, two months, less if in short term hostely places.
All told, $2000 plus flights does it if you're not into luxury.
Best,
Justin |
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James Hetfield
Joined: 24 Feb 2007
Posts: 99
Location: Los Angeles
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| Posted: Thu Nov 06, 2008 3:32 am Post subject: |
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Holy Carolla! $50 per week on food in Ecuador! And you cook at home! MAN! That's what I spend when I live in the most expensive cities of the American West Coast. What you eat? Salmon and truffles?  |
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