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Can I Live like this: Weekly Budget from Cheaposaurus Rex
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KwardBound



Joined: 04 Jul 2010

PostPosted: Tue Aug 17, 2010 4:49 pm    Post subject: Can I Live like this: Weekly Budget from Cheaposaurus Rex Reply with quote

With the exception of transportation, I figure that I can probably live on a budget of 6,000 won per day. I then intend to spend about 100,000 won on the weekend or every two weeks. This is not so bad because if you don't hang out with people too often, then you leave them wanting more. So, what is wrong with this plan?
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onlyinkorea87



Joined: 16 Feb 2010
Location: Gimhae

PostPosted: Tue Aug 17, 2010 5:20 pm    Post subject: Re: Can I Live like this: Weekly Budget from Cheaposaurus Re Reply with quote

KwardBound wrote:
With the exception of transportation, I figure that I can probably live on a budget of 6,000 won per day. I then intend to spend about 100,000 won on the weekend or every two weeks. This is not so bad because if you don't hang out with people too often, then you leave them wanting more. So, what is wrong with this plan?


You could, if you absolutely must, but I don't think it's enough to really live off of for all three meals (or six) a day. But maybe you just eat lunch and dinner--at a Kimbabnara place you could spend 3,000 for each meal--but you'd only be able to afford kimbab, ramyeon (which is a good sized bowl), mandu, or soup.

Good luck with your budget plan though!

--Onlyinkorea87
http://www.onlyinkorea87.wordpress.com
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ttompatz



Joined: 05 Sep 2005
Location: Kwangju, South Korea

PostPosted: Tue Aug 17, 2010 5:24 pm    Post subject: Re: Can I Live like this: Weekly Budget from Cheaposaurus Re Reply with quote

KwardBound wrote:
With the exception of transportation, I figure that I can probably live on a budget of 6,000 won per day. I then intend to spend about 100,000 won on the weekend or every two weeks. This is not so bad because if you don't hang out with people too often, then you leave them wanting more. So, what is wrong with this plan?


Sounds fine if your rent and utilities are not included in that 6000 won and you plan to live on rice and kimbap for the rest of the week.

.
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KwardBound



Joined: 04 Jul 2010

PostPosted: Tue Aug 17, 2010 5:28 pm    Post subject: Reply with quote

I'm living in New York City right now and that is like my budget right now. I mean, I have alot of food at home, and I make snacks, onigiri, sandwiches, etc., so even though I'm in Queens and Manhattan every single day, I don't really spend because I already carry my goods. Also, I tend to eat 6-8 small meals a day. Plus, I consider myself smart and imaginative enough to entertain myself and don't really need a girlfriend (I've had a clingy one for awhile, and a break is appreciated).
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KwardBound



Joined: 04 Jul 2010

PostPosted: Tue Aug 17, 2010 5:33 pm    Post subject: Re: Can I Live like this: Weekly Budget from Cheaposaurus Re Reply with quote

ttompatz wrote:
KwardBound wrote:
With the exception of transportation, I figure that I can probably live on a budget of 6,000 won per day. I then intend to spend about 100,000 won on the weekend or every two weeks. This is not so bad because if you don't hang out with people too often, then you leave them wanting more. So, what is wrong with this plan?


Sounds fine if your rent and utilities are not included in that 6000 won and you plan to live on rice and kimbap for the rest of the week.

.


eggs, chicken, tuna, potatoes, bananas, peanuts, oats, rice, etc. These are my basic things and I'm sure they can't cost too much, right? Its all about preparation anyway. If I spend the first 2 weeks stocking things up then I'm the type that will be pretty much set for the rest of the year.

btw, I will check out your blog: OnlyinKorea87
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sojusucks



Joined: 31 May 2008

PostPosted: Tue Aug 17, 2010 5:35 pm    Post subject: Reply with quote

Be realistic about how much you intend to save. Saving money is a very good thing, but if you live in Korea long enough you will find opportunities to try new restaurants or travel or buy unique gifts and that may cause you to blow your budget if it's unrealistically tight. Allow yourself some fun.

Also, remember that it will cost you money to get settled and to leave, when you eventually decide to do so.
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KwardBound



Joined: 04 Jul 2010

PostPosted: Tue Aug 17, 2010 5:52 pm    Post subject: Reply with quote

1 year in and 1 year out.

Even if I fall in love with Korea, I can only stay for 1 year and have to settle with just returning to Korea years later.

Uh, right now in NYC, I am saving $1,500-$2000 per month. I'm on an un-steady budget, so I basically only spend $500 per month. Also, the money that I am saving will be categorized. Part of it will be reserved for travel.
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morrisonhotel



Joined: 18 Jul 2009
Location: Gyeonggi-do

PostPosted: Tue Aug 17, 2010 6:04 pm    Post subject: Reply with quote

Why would you want to live on that kind of budget? You're going to be living abroad - have some fun!

ETA: potatoes and bananas are relatively expensive in comparison to back home in the UK (I'm assuming prices won't be hugely different in the US). You won't be eating those often on a budget of 6,000 a day.


Last edited by morrisonhotel on Tue Aug 17, 2010 6:11 pm; edited 1 time in total
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Darkray16



Joined: 09 Nov 2008

PostPosted: Tue Aug 17, 2010 6:06 pm    Post subject: Reply with quote

Things you should consider:
generally, groceries are more expensive then eating at a cheap restaurant.
this is because the restaurants use the cheapest ingredients possible.
and this means Korean food only, no foreign food. it's pretty expensive here even for a hamburger or slice of pizza.

if you plan to use that 100,000won on the weekend solely for groceries and nothing elsethen the budget is feasible as long as you can spend all your weekends at home or doing something free outside, and just about everything here costs money.
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allovertheplace



Joined: 02 Aug 2009

PostPosted: Tue Aug 17, 2010 6:09 pm    Post subject: Reply with quote

Well that may work as long as you dont need new socks, underwear, t shirts, jackets, toothpaste, toothbrush, girlfriends, weekend trips, friends, darts, shots, beer, meat, etc.
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KwardBound



Joined: 04 Jul 2010

PostPosted: Tue Aug 17, 2010 6:46 pm    Post subject: Reply with quote

I've calculated how much I would earn a month, minus socializing, minus necessities, and I see myself saving a minimum of $20k USD during the 1 year.
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Chaucer



Joined: 20 Oct 2009

PostPosted: Tue Aug 17, 2010 6:57 pm    Post subject: OT Reply with quote

Do one hour of OT per day and spend the 15K on groceries/save for trips. $20K is a good figure for one year, but why not have a bit more fun?
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Reise-ohne-Ende



Joined: 07 Sep 2009

PostPosted: Tue Aug 17, 2010 6:59 pm    Post subject: Reply with quote

allovertheplace wrote:
Well that may work as long as you dont need new socks, underwear, t shirts, jackets, toothpaste, toothbrush, girlfriends, weekend trips, friends, darts, shots, beer, meat, etc.


lol

6,000W a day? Personally, I think that's madness.

On my most frugal days:

I spend ~2k/day on the bus to and from my school.
One day of food (say cereal and milk for breakfast, school lunch, and kimbap with some chips or an egg): ~5k

So literally, if I just laid in my house and didn't do anything, and ate like a pauper, I could live on 7k/day.

Then you have to factor in apt maintenance, electricity, cell phone, cable/internet, household items, cleaning products, toiletries, medical/dental, government services, entertainment, taxis when you're running late, clothing, activities/exercise...

Personally I haven't managed to save any money yet, and I've been here 6 months. But I send home 500k/month to pay old credit card bills, and I take taxis far more than I should. And I bought an Xbox, a computer, and a guitar. ^^

So I would estimate a reasonable budget at closer to 1000k, or 30k/day. That's still saving close to 1000k/month, plus bonuses etc.
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verloc



Joined: 24 Jul 2010

PostPosted: Tue Aug 17, 2010 7:16 pm    Post subject: Reply with quote

The OP sounds like a fun guy to go out for a drink with. As long as you're paying, that is.
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northway



Joined: 05 Jul 2010

PostPosted: Tue Aug 17, 2010 7:34 pm    Post subject: Reply with quote

Cereal, tuna, bananas, and potatoes are all significantly more expensive here than they are in the States. I suppose you could live on 6,000 won per day, but you're going to be eating ramyeon pretty much every meal.
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