Job Discussion Forums

bridge · Joined: 22 Aug 2004 Posts: 5 Location: Wonju, South Korea

I have student loans, as many people do. I really want to work in Mexico, but due to my monthly loan bill ($120 USD), I don't know if it is feasible to do so. Anyone else in the same boat?
Should I just look to work in Korea for a year or can I make it in Mexico?

ls650 · Joined: 10 May 2003 Posts: 3484 Location: British Columbia

That's about 1200 pesos a month. I think a typical starting wage in Mexico might be 5000 to 6000 pesos. After your rent and food, you might not have a whole lot to spend.

Asia is a lot better for saving money. When I taught in Indonesia I was able to bank $5000 US in a year, but it took a fair amount of penny-pinching on my part.

Maybe your best bet is to get a McJob, save up your money and pay off your debts. I think it's easier to save up money in the home country than overseas.

bridge · Joined: 22 Aug 2004 Posts: 5 Location: Wonju, South Korea

I currently have a decent job, that currently pays my bills, but I would rather spend my time doing a job I actually enjoy, such as teaching. If I can get a teaching job that still allows me to pay my bills, I can live frugally beyond that. I don't need a lot of stuff, just some challenge and adventure.

I am learning however, I probably can't do this in Mexico while I have my student loans to think about.

Thanks for your input Is650.

emilysarah · Joined: 16 Aug 2004 Posts: 5 Location: Jalisco, Mexico

I am in the same boat with the student loans. I don`t know what loan company your loans are with but I have loans with Sallie Mae. Obviously I am not making enough to pay right now so I am currently deferring my loans for a year. The downside is that I do have one loan that is not subsidized and so interest isbuilding up. The good news is that the interest is very little. So, if you don't mind adding maybe another 200 dollars for the year to your loan, it is definitely worth the experience!

joshua2004 · Posted: Thu Nov 18, 2004 1:17 am Post subject:

I agree with everyone on coming to Mexico. It can be extremely difficult to find a job that will help you get ahead. BUT, I suggest people do what I am doing. Open your own school. If you don�t know how to do it, neither did I. Its the only way I believe you can truly get ahead and make some real money.

Don�t trust me straight out though. I plan to write a book detailing how to do it. So maybe this is cheap plug for that. Fact is, you aren�t going to make the big money working for someone else.

When we plan to take on teachers, we are going to give them a percentage of the profit, not an hourly wage.

Guy Courchesne · Joined: 10 Mar 2003 Posts: 9650 Location: Mexico City

Mexico City is probably the only Mexican city where you could handle making 1300 peso payments monthly. Here you can earn up to 12000 pesos per month realistically. Deferring the loan for a year would probably be the best route though.

moonraven · Joined: 24 Mar 2004 Posts: 3094

Salaries vary widely here. I have been able to save half of my salary the past few years without really pinching my pennies. That allows me to stop working periodically and just write and travel and loaf. I suppose a newbie could get lucky....

When calculating your student loan payment amount you also need to add in about 80 bucks a month for money transferring and to compensate fees taken by the bank at the other end. That may make it well worth your time to pay off your loan before leaving your home country.