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shelleyR
Joined: 14 Mar 2007
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 Posted: Tue Mar 20, 2007 1:40 pm Post subject: Can I live on 2.2 mil/month???? |
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Hi,
I am going to Korea and will be making 2.2 KRW/month. I know my apartment will be rent free but could you tell me what exactly I should be expecting to pay per month and how much they are? There will be two of us in the two bedroom apartment and we would like: Internet, Phone, TV and we will we be given AC and Heating and a stove. Could you please help!!! By the way we would be living in Yeongju. And what should I be left with? |
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Yesterday
Joined: 15 Aug 2003
Location: Land of the Morning DongChim (Kancho)
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| Posted: Tue Mar 20, 2007 1:50 pm Post subject: |
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You can live on 600,000 per month (as you have a free apartment)......
If you buy lots of unnecessary things each day - you can still live on 1 million per month.............. |
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crsandus
Joined: 05 Oct 2004
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| Posted: Tue Mar 20, 2007 1:53 pm Post subject: |
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The answer to this question is the ever popular "it depends". The vast majority of people can easily live off of 2.2 mil/month. Many can save ~1 mil/month without depriving themselves of the smal luxuries. I've heard of more frugal people saving ~1.4 mil/month without the aid of added income from privates or overtime.
Relax, unless you're a spendaholic, 2.2 mil/month will be more than enough. There's a very good chance that you're income will easily hit 2.5-3.0 mil/month with overtime. |
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chronicpride
Joined: 16 Jan 2003
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| Posted: Tue Mar 20, 2007 2:14 pm Post subject: Re: Can I live on 2.2 mil/month???? |
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| shelleyR wrote: |
Hi,
I am going to Korea and will be making 2.2 KRW/month. I know my apartment will be rent free but could you tell me what exactly I should be expecting to pay per month and how much they are? There will be two of us in the two bedroom apartment and we would like: Internet, Phone, TV and we will we be given AC and Heating and a stove. Could you please help!!! By the way we would be living in Yeongju. And what should I be left with? |
Another Yeongju question. Check this other current thread:
http://www.eslcafe.com/forums/korea/viewtopic.php?t=81737
As for apt expenses, make sure you know what your employer will be covering, as some will cover some costs. But internet, phone, and cable will run about 50,000 won for everything. You're arriving in the spring, so your gas bills won't be as high as in the winter. Probably under 60K. Not sure about what kind of AC you will have, but electricity and water can work out to be cheap.
As I mentioned in the other Yeongju thread, expect to save money throughout the week. Unless you like to drink every night. You can easily get by on 10,000/day, once you get settled. You can reduce that to between 5-10K/day, if you cook at home more often than not.
For more saving examples and projections, see here:
http://wiki.galbijim.com/How_much_can_I_save%3F |
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shelleyR
Joined: 14 Mar 2007
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| Posted: Tue Mar 20, 2007 2:34 pm Post subject: re: 2.2 mil per month |
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HI Chronicpride,
Thank you very much for all of your help.  |
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wylies99
Joined: 13 May 2006
Location: I'm one cool cat!
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| Posted: Tue Mar 20, 2007 3:09 pm Post subject: |
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| OP- no problem. You can live WELL on that much money, or BE SMART and save money, too. |
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stumptown
Joined: 11 Apr 2005
Location: Paju: Wife beating capital of Korea
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| Posted: Tue Mar 20, 2007 4:11 pm Post subject: |
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chronicpride, that was a very well written piece. Very informative as well.
Thank you. |
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Novernae
Joined: 02 Mar 2005
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| Posted: Tue Mar 20, 2007 6:35 pm Post subject: |
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Here's a breakdown of our monthly expenses. (couple living in an officetel)
38,800 - Internet
~15,000 - Phone (one cell phone rarely used on the cheapest plan)
~130,000-160,000 - Maintenance (hot water was expensive this winter at 40,000 (with no heat  , base maintenance every month at 44,000, electricity was really cheap 10,000 over the winter but will be more in the summer (probably up to 30,000) the rest are little nickel and diming charges like elevator, common area heat, etc. Total (no TV) ~180,000-210,000
2.2 should net you a little over 2 million once taxes, health, and pension are taken out. |
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oneofthesarahs
Joined: 05 Nov 2006
Location: Sacheon City
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| Posted: Tue Mar 20, 2007 7:44 pm Post subject: |
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| I say if you can't live on 2.2 mil there's something seriously wrong. |
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leebumlik69
Joined: 05 Jan 2006
Location: DiRectly above you. Pissing Down
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| Posted: Tue Mar 20, 2007 7:47 pm Post subject: Re: Can I live on 2.2 mil/month???? |
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| shelleyR wrote: |
Hi,
I am going to Korea and will be making 2.2 KRW/month. I know my apartment will be rent free but could you tell me what exactly I should be expecting to pay per month and how much they are? There will be two of us in the two bedroom apartment and we would like: Internet, Phone, TV and we will we be given AC and Heating and a stove. Could you please help!!! By the way we would be living in Yeongju. And what should I be left with? |
The real question: Is is possible you could not live on 2.2??
what mad weekends would you be having to blow that kind of money completely in 1 month. If you buy a load of furniture and get some "massageee" maybe!! |
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English_Ocean
Joined: 17 Mar 2006
Location: You don't have the right to abuse me!
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| Posted: Tue Mar 20, 2007 8:44 pm Post subject: |
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2.2 is pretty good coin. But, you should also bring with you as much as
you can. There will be some start up costs you will want to cover; food to tide you over for a few weeks, soaps, tp..etc..
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