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8minutepopsong
Joined: 02 Aug 2009
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 Posted: Sat Aug 15, 2009 9:52 pm Post subject: money for the first month? |
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| how much money should i be bringing to last me until my first paycheck? |
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E_athlete
Joined: 09 Jun 2009
Location: Korea sparkling
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| Posted: Sat Aug 15, 2009 10:00 pm Post subject: |
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| as long as you dont buy anything but necessities like food i think 600~1000 dollars can cover you. I think you get 300000k in allowance once you get to Korea. Don't skimp on bringing money, you will surely regret it when you have to beg other foreigners for a loan. |
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wakingup
Joined: 20 May 2009
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| Posted: Sun Aug 16, 2009 4:57 am Post subject: |
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The allowance the other poster mentions is only for PS employees.
I brought $800, and it lasted me 6 weeks. I didn't scrimp or anything, but I didn't go clothes shopping or make any big purchases till I got paid. |
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kirsi
Joined: 29 May 2009
Location: dongtan
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| Posted: Sun Aug 16, 2009 6:41 am Post subject: |
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| did you take the money as cash in dollars and then exchange it or..? |
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losing_touch
Joined: 26 Jun 2008
Location: Ulsan - I think!
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| Posted: Sun Aug 16, 2009 6:44 am Post subject: |
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| wakingup wrote: |
| The allowance the other poster mentions is only for PS employees. |
I work at a hagwon and got the same allowance. I had plenty of money in the bank, but that 300,000 lasted me and my wife until payday. I never touched an ATM. I don't know what you people are buying..... |
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Uncle Turk
Joined: 03 Jul 2009
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| Posted: Sun Aug 16, 2009 7:13 am Post subject: |
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| I am also leaving this week. I plan on bring around $800. From what I gather on here, it is best to bring the cash, exchange some at the airport when you arrive then exchange the rest at banks or currency exchanges because of the better rates. |
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Starbucks
Joined: 12 Aug 2009
Location: British Columbia, Canada
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| Posted: Sun Aug 16, 2009 4:53 pm Post subject: |
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| losing_touch wrote: |
| wakingup wrote: |
| The allowance the other poster mentions is only for PS employees. |
I work at a hagwon and got the same allowance. I had plenty of money in the bank, but that 300,000 lasted me and my wife until payday. I never touched an ATM. I don't know what you people are buying..... |
Everyone's lifestyle differs and I'm sure they spent it eating out (at more expensive places), partying or other entertainment
I've always been pretty good with Money and watch what I spend it on, some are more careless. The same goes for living in any country, you can blow $500 easily, but it can also last you a long time if your careful |
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8minutepopsong
Joined: 02 Aug 2009
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| Posted: Sun Aug 16, 2009 11:21 pm Post subject: |
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| Uncle Turk wrote: |
| I am also leaving this week. I plan on bring around $800. From what I gather on here, it is best to bring the cash, exchange some at the airport when you arrive then exchange the rest at banks or currency exchanges because of the better rates. |
why are the rates different? :[ |
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8minutepopsong
Joined: 02 Aug 2009
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| Posted: Sun Aug 16, 2009 11:29 pm Post subject: |
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| also, is this factoring in the health check and other school related fees? |
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OnTheOtherSide
Joined: 29 Feb 2008
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| Posted: Sun Aug 16, 2009 11:48 pm Post subject: |
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I'm about to go in with about two hundred bucks. I'm gonna have to giggolo myself out to some old ladies or something.
Four hundred is enough. Three hundred is cutting it really close. Two hundred....oh shizz!
These people who say you need 800 or 1000 must be living champaign wishes and caviar dreams. You don't need that much, although it is nice. |
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Bucky
Joined: 19 Jul 2009
Location: Vancouver (formerly Yongsan-gu, Seoul)
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| Posted: Mon Aug 17, 2009 12:46 am Post subject: |
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I'm bringing in 890,000 KRW plus about 700 USD and 60 CAD... I guess I'm kind of overdoing it, considering I have the same social life as a speed bump.  |
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saw6436
Joined: 16 Jan 2003
Location: Daejeon, ROK
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| Posted: Mon Aug 17, 2009 8:16 am Post subject: |
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If your working for a Hagwon I'd seriously consider bringing enough cash for your 1st months living expenses ($300-$400) AND enough for a return ticket home if things don't work out for you here. You definitely do not want to be at the mercy of a Hagwon director.
Not so much of an issue at a PS or Uni gig though. |
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climber159
Joined: 02 Sep 2007
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| Posted: Mon Aug 17, 2009 8:47 am Post subject: |
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Uncle Turk wrote:
I am also leaving this week. I plan on bring around $800. From what I gather on here, it is best to bring the cash, exchange some at the airport when you arrive then exchange the rest at banks or currency exchanges because of the better rates.
why are the rates different? :[ |
The worst exchange rates will likely be in your home country because, well, who wants KRW outside of Korea? Hotels in Korea are also terrible places to exchange your money. The airport is tolerable and I suggest you change SOME of your money there upon your arrival. If you're going to be in Seoul, change the remainder of your US Dollars at one of the money changing shops (usually have a yellow or red sign) in Itaewon or Myeong-dong (there are other locations but I don't know where right now).
Why the difference in rates...
Hotels - offering the service as a convenience and a luxury so you don't have to waste your precious time visiting a bank or money changer.
Airports - Again, the convenience factor. And, they're operated by the banks.
Banks - Convenience factor and the image that they are more legitimate than the regulated money changers.
Regulated money changers - usually the best rates because of low overhead costs and their willingness to operate at low profit margins.
Namdaemun Adjummas - I've never done business here. Can't comment on their exchange rates. |
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mai
Joined: 12 Jun 2009
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| Posted: Mon Aug 17, 2009 6:47 pm Post subject: |
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| Good question... I was planning to bring about 600 USD, but now you guys are worrying me. |
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lifeinkorea
Joined: 24 Jan 2009
Location: somewhere in China
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| Posted: Mon Aug 17, 2009 7:39 pm Post subject: |
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600 dollars isn't 600,000 won. You'll get more. As long as you have clothes, you don't need much else. I only had like 650 to start out with, and after my first paycheck, I still had 400.
My hagwon owner also offered to advance me 300,000 won if I needed (not the allowance). I still have 30,000 yen in case of an emergency.
If you have adult students, they will want to take you out to places. I wouldn't use it as an opportunity to take advantage of them, but when you get paid your first month, take them out. It works out well. |
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