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Saving money in Vietnam

 
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ronald_reagan



Joined: 30 Jan 2009
Posts: 50

PostPosted: Tue Feb 03, 2009 11:11 pm    Post subject: Saving money in Vietnam Reply with quote

I am close to making some sort of decision regarding relocating to Asia. From what I have read, Korea seems like it might be the most lucrative. For me, saving some dough is pretty important. However, quality of life and job satisfaction are important as well. I have been looking into Thailand and Korea, but enter Vietnam. I have read a few posts here and it seems that one can do very well on $18-$20 an hour (I make about that here in the States subbing and doing tutoring on the side, it doesn't go very far here). How are some of you finding saving there? What about life in general? I have never been too crazy about Korean culture or history and those such things, but SEA has always been intriguing to me. Thailand seems like it would be great to live, but if one is living in Bangkok on a teacher's salary, you might not be able to do much living at all. Thailand in comparison with Cambodia seems expensive (I have been to both), but what about Vietnam. If $20/hr. allows one to live well, that probably answers the question. Mind you, I am simple. I can make do with some books and a limited wardrobe, maybe a gym membership.
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inky



Joined: 05 Jan 2009
Posts: 283
Location: Hanoi

PostPosted: Wed Feb 04, 2009 2:22 am    Post subject: Reply with quote

Assuming your qualifications allow you to start at $18/hr, that there are jobs available, and that you are teaching full-time (roughly 24 classroom hours per week), you should be able to save quite a bit. In both HCMC and Hanoi it's possible to find a small, secure apartment or house share for $300/month plus utilities. Food and drink are far cheaper than in western countries, as are most other daily living costs. A good school will give you a contract that includes health insurance reimbursement; if you already have paid insurance, some schools pay for a gym membership instead. You'll also get a number of vacation days and paid holidays. Travel within SEA is inexpensive. You'll be taxed locally on your salary, but if you are a US citizen you won't have to pay US taxes (I'm not sure about other nationalities; the local tax rate would be between 10% and 15% roughly).

Say hello to Nancy for me.
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ajc19810



Joined: 22 May 2008
Posts: 214

PostPosted: Wed Feb 04, 2009 2:57 am    Post subject: Reply with quote

I thought the Korean Won had crashed diminishing a teachers salary. I read that salaries went from $2400 down to something like $1700.

You will save cash in Vietnam if you work on contract or not. However, if you dont work on contract, want to work at a language school and main purpose is to save cash be careful of downtime. Some people get caught out by this.

Some examples that can make your weekly salary fluctuate;

1. Bosses combing smaller classes into 1 big class.
2. New teachers coming on board.
3. Holiday time
4. Completion of courses.
5. Cancellation of classes

Personally I love working in language centers and was able to save good cash while taking regular domestic and international holidays. Time management is the key to making money in langauge centers in Vietnam by working 2 centers at the same time, but having your time scheduled so that your not running all over the city and doing crazy split shift hours.
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ronald_reagan



Joined: 30 Jan 2009
Posts: 50

PostPosted: Wed Feb 04, 2009 5:38 am    Post subject: Reply with quote

Thanks. When does school start in Vietnam? May, like in Thailand? Should I go through a recruiting agency, or can I just show up with enough money to last a month and just land a job? I think that most people would say, just show up. I have contacted teachaway, and they offer up to $20 an hour, or that is what it says.
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inky



Joined: 05 Jan 2009
Posts: 283
Location: Hanoi

PostPosted: Wed Feb 04, 2009 8:37 am    Post subject: Reply with quote

You're talking about two different things when you ask about 'start times.' Public primary/high schools start in August after a two-month summer recess. Universities follow a similar schedule. However, private language schools have rolling start dates, the only slow-down coming a few weeks before Tet (which has just ended). You are most likely to find work with a private language school, which means you could theoretically start work at any time of the year (assuming, of course, that classes are available).

Yes, you should definitely arrive in Vietnam with several thousand dollars to get you through the first few months, as you might be able to find work only gradually at first.
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