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Do I have enough money...?
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south pacific



Joined: 08 Dec 2006
Location: Auckland

PostPosted: Tue Jan 02, 2007 1:32 pm    Post subject: Do I have enough money...? Reply with quote

Hi all
I may be coming to S. Korea to teach, starting in early March.

If I arrive with USD$600, will this be enough to buy meals and essentials until I get paid?

(Accom. will be provided.)

Thanks for feedback.
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polonius



Joined: 05 Jun 2004

PostPosted: Tue Jan 02, 2007 1:47 pm    Post subject: enough money Reply with quote

Anything is possible. It depends on your lifestyle and what you like to do. It also depends on where you live.

There are some parts of Korea where you can get a great meal for 3,000 won, but that same meal might cost you 8,000 in some parts of Seoul.

I have seen people make 400,000 last a month in Korea. But then again, I have seen people go through over 2,000,000 a month.

Just be ready to eat lots of Ramen (noodles) and Kimbab (seaweed wraps) and if you are a drinker, no cheaper way than to get a buzz of soju which costs 1,000 won.

Give more details about where you are going in Korea, and people might be able to give more advice.
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Ya-ta Boy



Joined: 16 Jan 2003
Location: Established in 1994

PostPosted: Tue Jan 02, 2007 1:59 pm    Post subject: Reply with quote

$600 should be OK. Just set up a budget and stick to it. W20,000 a day is not bad.

Some cheap food tips:

a) Chicken bossoms Very Happy are cheaper than legs. About 4 pieces for W2,000 in the meat department. Good for stir-fries.

b) Ground pork is also cheap. About W2,000 for 500 g (1 pound). Makes decent meatballs.

c) Bigger grocery stores have bins of salad greens in the produce section. Just mix and match. Enough for 3 or 4 big salads will only cost a couple of thousand W. (Salad dressing is pretty expensive, unless you go with vinegar and oil.)

d) A bottle of soju in any convenience store is about W1,000. (They cost W3,000 in a restaurant.)

e) Rice is expensive but you only need 1/2 cup of uncooked rice to go with stir-fry. You do NOT need a rice cooker to cook rice.
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south pacific



Joined: 08 Dec 2006
Location: Auckland

PostPosted: Tue Jan 02, 2007 3:14 pm    Post subject: Reply with quote

Thanks for those tips.

Just to clarify: if I start in the first week of March, and don't get paid until, say, the 20th of April, 20,000 per day for 7 weeks multiplies out to around USD$1,000.

Is this realistic then (or could I do that stretch on USD$600 after all)?

Thanks again.
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rothkowitz



Joined: 27 Apr 2006

PostPosted: Tue Jan 02, 2007 4:30 pm    Post subject: Reply with quote

Most public schools,if that's where you're going,issue a 300.000 won settlement allowance the first week or so.

You can always ask for a small advance(300) at a hagwon,but,I think it's a bit naff to do so.Certainly don't make it a regular thing.

Anyways,build up a float from your first couple of paycheques.You should always have a couple of grand in a bank account to fall back on.
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Bibbitybop



Joined: 22 Feb 2006
Location: Seoul

PostPosted: Tue Jan 02, 2007 5:34 pm    Post subject: Reply with quote

If you have housing provided and don't have to pay any bills before you get your first paycheck, you can live on 10,000 a day for food easily, even in Seoul. If you restrict yourself to 2 subway/bus rides a day, that's 1,600 a day with a T-Money card. Find yourself street vendors for fruit, kimbap, chiken kabobs and toasted sandwiches. "Isaac" ham and cheese sandwiches are 1,500 each. You may have to buy some necessary supplies, like toiletries, but find a 1,000 won shop and avoid department stores like Lotte Mart and Hyundai Dept. Store until you get your first paycheck.

If you are worried about it, get a credit card from back home, use it during April if your money is short, pay it off the next month and you shouldn't even have to pay interest if you time it right.
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Ya-ta Boy



Joined: 16 Jan 2003
Location: Established in 1994

PostPosted: Tue Jan 02, 2007 5:50 pm    Post subject: Reply with quote

Quote:
and don't get paid until, say, the 20th of April


I'm asuming you get paid at the end of the first month.
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mindmetoo



Joined: 02 Feb 2004

PostPosted: Tue Jan 02, 2007 10:36 pm    Post subject: Reply with quote

$800 would be better. $600 might be a little tight. Basically you can live pretty well on $800-$900 a month.
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confuzed



Joined: 01 May 2006

PostPosted: Wed Jan 03, 2007 12:26 am    Post subject: Reply with quote

Laughing

Last edited by confuzed on Sun Apr 15, 2007 2:19 pm; edited 1 time in total
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poet13



Joined: 22 Jan 2006
Location: Just over there....throwing lemons.

PostPosted: Wed Jan 03, 2007 12:54 am    Post subject: Reply with quote

you can buy spicy ramien for about 600 won a pop. chuck in an egg, and chop in a veggie or two, and maybe buy a slab of tofu, and you're good to go. all in, about a thousand.
you can buy the premade curry packs for about 1100 won. that and you're 1/2 cup of rice have you set streight for a night.
you can buy pasta pretty cheap. you can go nuts and buy a small bottle of olive oil, some peppers and garlic, and make alio i olio.
however its spelled. you dont need parmesan
eggs...cheap.
tofu....cheap.
coffee, buy a 180 pack, good for a month and half of you drink several a day.
if y ou make the choice to eat at home until you get paid, you should be fine. Yes, you can eat on the street. Well, not really in my town, but in seoul sure. Going into a restaurant regualrily is a fast way to bust your budget.
You are coming to a world of predators, and i think asking to borrow money is sometimes considered a sign of weakness, something to be exploited later.
Anyways, pre-welcome to Korea. Dont take what I said about predators too badly. There's all kinds of good and fun here too.
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Fresh Prince



Joined: 05 Dec 2006
Location: The glorious nation of Korea

PostPosted: Wed Jan 03, 2007 1:25 am    Post subject: Reply with quote

It really depends on where you will be living and whether you will be provided with dishes, a microwave, soap, etc.

If you are stocked up when you arrive and don't need to buy too many things you should be OK with $600 as long as you are really careful about your money.

The advice about getting a credit card and the food ideas people are posting are things that shouldn't be taken for granted. That being said, there are Koreans that live off of less than that. If they can do it, you can. Razz
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I-am-me



Joined: 21 Feb 2006
Location: Hermit Kingdom

PostPosted: Wed Jan 03, 2007 1:51 am    Post subject: Reply with quote

If you need a loan...let me know!!! small interest Wink
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south pacific



Joined: 08 Dec 2006
Location: Auckland

PostPosted: Wed Jan 03, 2007 12:33 pm    Post subject: Reply with quote

Thanks for all the tips.

I'll only apply for roles that come with an apartment very nearby, that I can move into on arrival. Then hopefully I'll be in a good frame of mind for teaching, and not be worrying too much about the budget.

Thanks I-am-me. I should be OK. But perhaps a short-term (i.e., 1 - 3 month) micro-loan fund for ESL teachers would be a good business!

Thanks again all.
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Hotpants



Joined: 27 Jan 2006

PostPosted: Wed Jan 03, 2007 12:49 pm    Post subject: Reply with quote

From your last post, you mean that you don't yet have a job in hand?

In that case, you need to pay for up to 3 months (it's possible to take up to 3 months, or even longer to secure your job - as happened in my case, quite unintentionally) budget accomm (between 300 - 500 is realistic). Then, you need food and travel. You may have to fund your own visa run to Japan. Then, you may have to safeguard against a boss who could screw you over. On the safe side, I would suggest 1000US/1 mill won a month + A RETURN TICKET HOME. You don't want to risk being stranded in a foreign country with no money to get home.
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south pacific



Joined: 08 Dec 2006
Location: Auckland

PostPosted: Wed Jan 03, 2007 1:02 pm    Post subject: Reply with quote

Hi hotpants
Thanks for bringing up the visa.

I have been in contact with various institutions, and will be applying for positions over the next week. I would hope to have visa formalities sorted before I come (I'm assuming this is possible). If so, and if I can move right into accom., I think coming to SK is do-able for me - going by all the advice that's come in so far.

Cheers
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