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jaganath69
Joined: 17 Jul 2003
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 Posted: Thu Aug 30, 2007 2:48 pm Post subject: |
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| princess wrote: |
| peppermint wrote: |
| princess wrote: |
| SPINOZA wrote: |
Per capita GDP in Korea is $18,392, rank 36
Most people find they save at least 1 million Won per month, so that's 12 million annually PLUS severance (PLUS pension to those citizens elligible). So, before overtime and illegal income, savings for teaching English are generally 14 million Won, which is 78% (savings) of per capita GDP (before savings). |
If you have a life, you WILL NOT save a million per month. I have about a million saved and I am into my 8th month on this year's contract. But, I also used a chunk of coin to take my summer vacation. Or, I'd have about 3 million saved right now. But 1 mil a month? No way! I once had around 8 mil after 2 years here. Still, not 1 mil per month. |
uh, Princess, not all of us spend our entire social lives in bars, or shopping |
Wow! I love how a girl can say she has an ex-boyfriend who is a bartender, and idiots like you who don't EVEN know me comeon here and say I spend my whole life in a bar. I don't shop 7 days a week either. Go suck on your peppermint stick, OK? I could care less how much you or anyone else on here spends or saves. So, mind your own business. |
Seriously though, where does it go? Even after my most alcoholic and excessive year here I managed to leave with $5 grand, after I had wooped it up in Thailand over the winter. Even now with a wife and kid I manage to put away more than a million a month. |
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princess
Joined: 16 Jan 2003
Location: soul of Asia
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| Posted: Thu Aug 30, 2007 3:02 pm Post subject: |
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| jaganath69 wrote: |
| princess wrote: |
| peppermint wrote: |
| princess wrote: |
| SPINOZA wrote: |
Per capita GDP in Korea is $18,392, rank 36
Most people find they save at least 1 million Won per month, so that's 12 million annually PLUS severance (PLUS pension to those citizens elligible). So, before overtime and illegal income, savings for teaching English are generally 14 million Won, which is 78% (savings) of per capita GDP (before savings). |
If you have a life, you WILL NOT save a million per month. I have about a million saved and I am into my 8th month on this year's contract. But, I also used a chunk of coin to take my summer vacation. Or, I'd have about 3 million saved right now. But 1 mil a month? No way! I once had around 8 mil after 2 years here. Still, not 1 mil per month. |
uh, Princess, not all of us spend our entire social lives in bars, or shopping |
Wow! I love how a girl can say she has an ex-boyfriend who is a bartender, and idiots like you who don't EVEN know me comeon here and say I spend my whole life in a bar. I don't shop 7 days a week either. Go suck on your peppermint stick, OK? I could care less how much you or anyone else on here spends or saves. So, mind your own business. |
Seriously though, where does it go? Even after my most alcoholic and excessive year here I managed to leave with $5 grand, after I had wooped it up in Thailand over the winter. Even now with a wife and kid I manage to put away more than a million a month. |
Well, me, too, with my final pay and bonus, I always leave with at least 5 grand. I never said I have zero.  I just said I never save 12 grand or more a year like some folks do. At least I am not like one girl I knew here. She had nothing 2 weeks before her contract was over, and she borrowed 600,000 won from another teacher to get herself through her final 2 weeks.  |
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Saxiif
Joined: 15 May 2003
Location: Seongnam
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| Posted: Thu Aug 30, 2007 3:39 pm Post subject: |
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Daaaamn, if that's middle class then me and my wife are upper class. Cool 
As far as saving money, probably the biggest hole for me is decent restaurants. If you want to eat out with the wife/gf at decent places on even a semi-regular basis that's a good chunk of change. |
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Atavistic
Joined: 22 May 2006
Location: How totally stupid that Korean doesn't show in this area.
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| Posted: Thu Aug 30, 2007 3:41 pm Post subject: |
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| just another day wrote: |
| princess wrote: |
| peppermint wrote: |
| princess wrote: |
| SPINOZA wrote: |
Per capita GDP in Korea is $18,392, rank 36
Most people find they save at least 1 million Won per month, so that's 12 million annually PLUS severance (PLUS pension to those citizens elligible). So, before overtime and illegal income, savings for teaching English are generally 14 million Won, which is 78% (savings) of per capita GDP (before savings). |
If you have a life, you WILL NOT save a million per month. I have about a million saved and I am into my 8th month on this year's contract. But, I also used a chunk of coin to take my summer vacation. Or, I'd have about 3 million saved right now. But 1 mil a month? No way! I once had around 8 mil after 2 years here. Still, not 1 mil per month. |
uh, Princess, not all of us spend our entire social lives in bars, or shopping |
Wow! I love how a girl can say she has an ex-boyfriend who is a bartender, and idiots like you who don't EVEN know me comeon here and say I spend my whole life in a bar. I don't shop 7 days a week either. Go suck on your peppermint stick, OK? I could care less how much you or anyone else on here spends or saves. So, mind your own business. |
In Korea, a lot of times, the oldest girl pays for her younger sister siblings. whether its food or drinks. this applies to 후배's as well. |
Princess has no real Korean friends and hates Korean friends because they all use you. And she's not Korean and I doubt she has any 후배s. Keep up, JAD. |
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4 months left
Joined: 07 Feb 2003
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| Posted: Thu Aug 30, 2007 4:01 pm Post subject: |
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| The numbers don't seem right, if GDP per capita is $18,300 and middle income earners make 24 -60,000 per year?? There has to be a small middle class or there is a huge disparity between rich and poor. Of course this is true in many countries but often gov't statistics are what the gov't wants you to believe. |
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Saxiif
Joined: 15 May 2003
Location: Seongnam
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| Posted: Thu Aug 30, 2007 6:14 pm Post subject: |
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| 4 months left wrote: |
| The numbers don't seem right, if GDP per capita is $18,300 and middle income earners make 24 -60,000 per year?? There has to be a small middle class or there is a huge disparity between rich and poor. Of course this is true in many countries but often gov't statistics are what the gov't wants you to believe. |
GDP per capita is per person, the middle class earning figures are per household. |
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SPINOZA
Joined: 10 Jun 2005
Location: $eoul
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| Posted: Thu Aug 30, 2007 7:31 pm Post subject: |
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| 4 Months Left wrote: |
| There has to be a small middle class or there is a huge disparity between rich and poor |
An appreciable disparity, certainly. Just looking around the streets of the 'normal' Seoul, so excluding Gangnam, the streets are literally awash with low income earners - street traders and whatnot, many small businesses, many restaurants peddling kimbap I doubt the owners of which even make 18,000. The fact that Korea is number 12 (nominal) but number 36 (per capita) also suggests a lot of money in the country but not very evenly distributed*
Mind you, I suspect Korea has a sizeable black market unrepresented in the stats, but still, that's not gonna tip the scales THAT much surely.
*like the EU. If the EU were a country, it'd be the richest country in the world, but per capita it's rank 25 ($29,476) because of the disparity between the big-hitters and the likes of Estonia, Latvia, Romania, Slovakia. |
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jeffkim1972
Joined: 10 Jan 2007
Location: Mokpo
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| Posted: Thu Aug 30, 2007 8:37 pm Post subject: |
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| 4 months left wrote: |
| The numbers don't seem right, if GDP per capita is $18,300 and middle income earners make 24 -60,000 per year?? There has to be a small middle class or there is a huge disparity between rich and poor. Of course this is true in many countries but often gov't statistics are what the gov't wants you to believe. |
The thing that screws this up are the women and the military service.
tons of Women have an income of zero because of marriage.
more young women that make less than a mil a month working in bars, or retail.
I would bet the average salary among men is around double that , 36 mil.
The young women that have not gone to college in Korea have a really difficult time.
There are a bunch of incredibly rich people in Korea also.
Also factor in the fact that at any one time, you have a million men in the army making chump change.
Also, tons of income not being reported, if you know what i mean.
Last edited by jeffkim1972 on Thu Aug 30, 2007 8:40 pm; edited 1 time in total |
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Demophobe
Joined: 17 May 2004
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| Posted: Thu Aug 30, 2007 8:40 pm Post subject: |
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| princess wrote: |
| ...at least I'm not like some folks...down to their last few thousand won at payday. |
| princess wrote: |
| I could care less how much you or anyone else on here spends or saves. So, mind your own business. |
Seems like you don't care unless it makes you look good.
Fact is, putting away 125,000 won a month (your 1 million in 8 months) is tragic. I collect that in change every month.
Instead of comparing yourself to the absolute worst, do yourself a favor and look up instead of down. It may make you a better person. |
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newton kabiddles
Joined: 31 Mar 2007
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| Posted: Thu Aug 30, 2007 8:47 pm Post subject: |
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princess if you want to raise your savings pm me....  |
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jeffkim1972
Joined: 10 Jan 2007
Location: Mokpo
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| Posted: Thu Aug 30, 2007 9:02 pm Post subject: |
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| Demophobe wrote: |
| princess wrote: |
| ...at least I'm not like some folks...down to their last few thousand won at payday. |
| princess wrote: |
| I could care less how much you or anyone else on here spends or saves. So, mind your own business. |
Seems like you don't care unless it makes you look good.
Fact is, putting away 125,000 won a month (your 1 million in 8 months) is tragic. I collect that in change every month.
Instead of comparing yourself to the absolute worst, do yourself a favor and look up instead of down. It may make you a better person. |
Saving 1 mil a month on a standard ESL salary in my opinion is difficult. Unless you want to live like a monk.
If you're not eating kimbap, ramen, or toast everyday, you have to spend some money.
If you never want to leave your -dong, or -gu, yeah, sure you can save on travel expenses.
Clothes? If you want to keep dressing like you did in high school, yeah, no problem. This won't put a dent in your wallet.
Movies, bars, shows, entertainment, etc.. yeah, the internet is sufficient for all of your entertainment needs.
Never go out with friends and have to treat every once in awhile. I don't mean taking them out to Kimbap Nara.
If you're still living here with what you fit into your suitcase. Yeah, you can do it.
Women here must buy cosmetics which are probably the most expensive in the world. Men? shampoo, soap, deodorant, shaving cream and toothpaste and we are good. If you really want to be frugal, you can shave with soap.
Some people here also go on trips abroad if they have the chance. |
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Demophobe
Joined: 17 May 2004
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| Posted: Thu Aug 30, 2007 9:27 pm Post subject: |
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| jeffkim1972 wrote: |
| Demophobe wrote: |
| princess wrote: |
| ...at least I'm not like some folks...down to their last few thousand won at payday. |
| princess wrote: |
| I could care less how much you or anyone else on here spends or saves. So, mind your own business. |
Seems like you don't care unless it makes you look good.
Fact is, putting away 125,000 won a month (your 1 million in 8 months) is tragic. I collect that in change every month.
Instead of comparing yourself to the absolute worst, do yourself a favor and look up instead of down. It may make you a better person. |
Saving 1 mil a month on a standard ESL salary in my opinion is difficult. Unless you want to live like a monk.
If you're not eating kimbap, ramen, or toast everyday, you have to spend some money.
If you never want to leave your -dong, or -gu, yeah, sure you can save on travel expenses.
Clothes? If you want to keep dressing like you did in high school, yeah, no problem. This won't put a dent in your wallet.
Movies, bars, shows, entertainment, etc.. yeah, the internet is sufficient for all of your entertainment needs.
Never go out with friends and have to treat every once in awhile. I don't mean taking them out to Kimbap Nara.
If you're still living here with what you fit into your suitcase. Yeah, you can do it.
Women here must buy cosmetics which are probably the most expensive in the world. Men? shampoo, soap, deodorant, shaving cream and toothpaste and we are good. If you really want to be frugal, you can shave with soap.
Some people here also go on trips abroad if they have the chance. |
Why you would quote me, I have no idea.
Anyhow, saving 125,000 per month is pathetic. That isn't saving, that's called having "leftover" money. I am happy that you are enjoying yourself here, and I am not saying don't. Do what you want. I have never seen you post about low wages or other monetary woes, so it seems you are happy. That's good.
1 million per month saved? Not at all unreasonable. Its about lifestyles. Some peoples' are more expensive than others. That, and motivation. Many people come here for the money; not to watch it go from one hand to the other, but to use this opportunity to save.
What I have seen over the years, is those who save a lot of money have one simple maxim: don't do Western things in Korea. This is how money disappears fast; people who come here and just live as they may back home. Western foods (in the supermarket, restaurants) are far more expensive than Korean foods, shopping at Western clothing stores is expensive, drinking....these will drain you fast.
Age, cultural adaptation, the need for home-ish feelings...many factors play into saving money in Korea.
Meh...
Whatever...to each their own. I was addressing Princess, and her trying to claim that 1 million in 8 months isn't so bad. If you want to save money, you will. If you have other priorities, then those are what you will work for. |
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Atavistic
Joined: 22 May 2006
Location: How totally stupid that Korean doesn't show in this area.
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| Posted: Thu Aug 30, 2007 9:39 pm Post subject: |
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| jeffkim1972 wrote: |
Women here must buy cosmetics which are probably the most expensive in the world. Men? shampoo, soap, deodorant, shaving cream and toothpaste and we are good. If you really want to be frugal, you can shave with soap.
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Must? I missed the memo.
Also, Clarins (my brand of choice for skin care) is the same here as back home.
Where are you getting your cosmetics prices from? You need to find a FACE SHOP, dude. |
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Demophobe
Joined: 17 May 2004
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| Posted: Thu Aug 30, 2007 10:00 pm Post subject: |
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| Atavistic wrote: |
| jeffkim1972 wrote: |
Women here must buy cosmetics which are probably the most expensive in the world. Men? shampoo, soap, deodorant, shaving cream and toothpaste and we are good. If you really want to be frugal, you can shave with soap.
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Must? I missed the memo.
Also, Clarins (my brand of choice for skin care) is the same here as back home.
Where are you getting your cosmetics prices from? You need to find a FACE SHOP, dude. |
Right. Less make-up is better.
I also require more than jeffkims' paltry list provides; I don't need deodorant, but I use body shop shaving products and some skin care stuff. Not getting younger... 
The Face Shop doesn't sell glycerin-based shaving lather, do they? I mean, the stuff for use with the brush, not canned creme. I checked there some time ago and they didn't have it. |
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jeffkim1972
Joined: 10 Jan 2007
Location: Mokpo
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| Posted: Fri Aug 31, 2007 12:45 am Post subject: |
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Apologies to everyone regarding inadvertent quoting and generalizations regarding cosmetic spending preferences.
I had to buy a gift once and while in the cosmetics section of LotteMarte (which means Emart, Homeplus, etc are all the same) thought, Holy cow! she's not worth that much...
I was just looking for some natural lotions. Like a Burt's Bees traveler's pack. |
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