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simon_capetown
Joined: 06 Sep 2010
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 Posted: Mon Dec 13, 2010 8:39 am Post subject: Living on 800 000 won a month... |
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Hi
I know the issue of saving has been covered a few times, but what I'd like to establish is the quality of life one could have in Korea, spending 800 000 won per month ( assuming accommodation is covered).
I dont drink or smoke and my goal is to save money when I'm over there. I will have all the other expenses foreigners have and I anticipate spending at least 60 000 won per month on a gym contract.
I'm not too interested in electronic items, or clothes as I'm covered in this respect (pun intended). I also have an extremely healthy diet, and want to do a lot of home cooking.
Anyway, look forward to the responses.
Thanks
Simon |
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Cedar
Joined: 11 Mar 2003
Location: In front of my computer, again.
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| Posted: Mon Dec 13, 2010 9:00 am Post subject: |
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| In Seoul that's more than you need if you do a lot of cooking, like you said. but if you like organics, if you want to drink often, go out to a lot of performances/clubs, etc. Then you may run out of money. Figure your phone will cost you 70,000 a month (if you don't talk too much but use a reg. Korean phone not a prepaid). Transpo runs average about 5 a day for me, but I usually need 4 distinct trips (too far apart for transfer), and there are days where I need more, sometimes a taxi, that's how it averages at around 5. Do you make your own coffee? Even a tall Americano is going to be 3,300 with your own take-out mug. Heat? How warm do you want your place? Internet is a little over 30,000 a month. How much fresh fruit do you want (the prices can get ridiculous esp in the mid winter). Do you cook with local ingredients or are you one of these people who has to search all over the city to find the specific ingredients they used back home? Certainly 800,000 would cover me if someone had my housing covered (my housing is 800,000 right now). |
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interestedinhanguk
Joined: 23 Aug 2010
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| Posted: Mon Dec 13, 2010 9:14 am Post subject: |
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| Cedar wrote: |
| Figure your phone will cost you 70,000 a month (if you don't talk too much but use a reg. Korean phone not a prepaid). |
Really? I have a contract plan and pay about 40,000. |
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simon_capetown
Joined: 06 Sep 2010
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| Posted: Mon Dec 13, 2010 9:41 am Post subject: |
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Thanks for the info so far.
Just some more info....
I wont be based in Seoul (should be one of Deagu, Busan or Daejon)
I'm happy to use local ingredients for cooking
I also do like fresh fruit and vegetables, I plan to cook chicken breasts or fish 5 nights a week and eat at school for lunch.
I dont want cable tv, just internet
Dont plan to spend much time on my cellphone.
As I said, the only thing I dont want to skimp on is a decent gym.
I suppose I'll do the usual things on weekends, such as dinner , movies etc (no expensive cubs or bars).
Cheers. |
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Louis VI
Joined: 05 Jul 2010
Location: In my Kingdom
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| Posted: Mon Dec 13, 2010 11:11 am Post subject: |
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| easy peasy lemon squeezy |
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decolyon
Joined: 24 Jul 2010
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| Posted: Mon Dec 13, 2010 1:48 pm Post subject: |
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| interestedinhanguk wrote: |
| Cedar wrote: |
| Figure your phone will cost you 70,000 a month (if you don't talk too much but use a reg. Korean phone not a prepaid). |
Really? I have a contract plan and pay about 40,000. |
I have a prepaid phone. I use it almost exclusively for texts (and ordering the occasional pizza.) I can get by on 20,000 won a month. For all calls I use my skype. Even when I talk for hours at a time a 12,000 charge lasts months.
As for 800,000 a month. Yes, it's doable. If your main purpose is to save money, it can be done. Just to warn you, a gym contract might be more than what you budgeted depending on location. And if you're going to restrain yourself to that much a month. the quality of life you'll be living wont be great. Just a warning though. I've known people that come here and say they're going to save so much and teach privates on the side and go home after a year with $20,000 in their pocket. After 6 months, they're the saddest and most bitter people ever. They hate their life and the only thing keeping them here is their bank account. After my friend saved $16k and then was set to go home and saw how terrible the exchange rate was, I honestly thought he was going to put a gun to his head. |
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Scriabin
Joined: 19 Nov 2010
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| Posted: Mon Dec 13, 2010 1:49 pm Post subject: |
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i intend to live off 400,000 KRW a month in seoul
is this possible?
is a cell phone even necessary?  |
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zappadelta
Joined: 31 Aug 2004
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| Posted: Mon Dec 13, 2010 2:27 pm Post subject: |
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| simon_capetown wrote: |
Thanks for the info so far.
Just some more info....
I wont be based in Seoul (should be one of Deagu, Busan or Daejon)
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That's the difference that will make it possible for you. In those cities, should also be able to find a gym for cheaper than 60/month. I pay 60/month for a nice gym in Seoul |
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waynehead
Joined: 18 Apr 2006
Location: Jongno
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| Posted: Mon Dec 13, 2010 2:49 pm Post subject: |
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| Scriabin wrote: |
i intend to live off 400,000 KRW a month in seoul
is this possible?
is a cell phone even necessary? |
No, not realistically. |
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AsiaESLbound
Joined: 07 Jan 2010
Location: Truck Stop Missouri
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| Posted: Mon Dec 13, 2010 3:00 pm Post subject: |
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| Scriabin wrote: |
i intend to live off 400,000 KRW a month in seoul
is this possible?
is a cell phone even necessary? |
Not with these food prices unless you are one of those skinny guys who can go all day every day with the bare minimum. I too wondered if my cell phone was even necessary as it's 12,000 a month for a phone I rarely use. You certainly can get by on 400,000 if you don't mind being bored stiff with no perks like coffee and good food, I'm sure many of the 3D workers from other Asian countries pull it off, but they must pool together for community dinner where the rice and soup covers them after work with their employer covering their lunches. You'd be surprised how frugal people from Asia really are when it comes to saving up for their future. Wouldn't be much fun, but they do it this way back home too when a family throws in to do a business. |
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winterfall
Joined: 21 May 2009
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| Posted: Mon Dec 13, 2010 3:34 pm Post subject: |
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| AsiaESLbound wrote: |
| Scriabin wrote: |
i intend to live off 400,000 KRW a month in seoul
is this possible?
is a cell phone even necessary? |
Not with these food prices unless you are one of those skinny guys who can go all day every day with the bare minimum. I too wondered if my cell phone was even necessary as it's 12,000 a month for a phone I rarely use. You certainly can get by on 400,000 if you don't mind being bored stiff with no perks like coffee and good food, I'm sure many of the 3D workers from other Asian countries pull it off, but they must pool together for community dinner where the rice and soup covers them after work with their employer covering their lunches. You'd be surprised how frugal people from Asia really are when it comes to saving up for their future. Wouldn't be much fun, but they do it this way back home too when a family throws in to do a business. |
You can make your own coffee. Get a hand grinder (18,000) and a Aeropress with the microfilters (50-60,000). Best cup of 10 second coffee I've ever had. The pack of filters, about 350 of them is 6,000. And 2, 150 g coffee bags are about 10,000. These things are built to last, they won't break. The only ongoing expense you've got is buying beans every few weeks.
The same savings is on good food too, of course you can't eat it all the time. But once integrate yourself, get some Korean friends. They can show you the cheapest places with the nicest food. About 5-7,000 per meal.
And you can order dei meats from this guy: nicedeli.com . The prices are reasonable and it lasts for a good month.
Finally if your that concerned about money, you can always get a prepaid phone.
Its not really about how much money you have, its about how good's impulse control |
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Scriabin
Joined: 19 Nov 2010
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| Posted: Mon Dec 13, 2010 3:46 pm Post subject: |
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Lets say 500k expenditure a month.
16.5k a day.
Is there anyone here pulling this off in Seoul?
I don't mind living a monastic lifestyle, if I can save money. |
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ThingsComeAround
Joined: 07 Nov 2008
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| Posted: Mon Dec 13, 2010 3:53 pm Post subject: |
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I have a friend that lived off 300,000 in one month.
I'd advise you make a finance diary and comb through it at the end of the month. |
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theevilgenius
Joined: 10 Sep 2010
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| Posted: Mon Dec 13, 2010 3:56 pm Post subject: |
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| Is it easy to buy weights in Korea? I'd rather buy some dumbells and do some outdoor hiking than join a gym. |
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edwardcatflap
Joined: 22 Mar 2009
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| Posted: Mon Dec 13, 2010 4:01 pm Post subject: |
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| Quote: |
| That's the difference that will make it possible for you. In those cities, should also be able to find a gym for cheaper than 60/month. I pay 60/month for a nice gym in Seoul |
Haven�t you guys seen Rocky 4? Rocky trained in an old shack in the forest lifting logs and going for runs in the snow while the Russian guy had a state of the art gym and regular steroid injections, and guess who won the fight? Save 60,000 by lifting dictionaries/water bottles, doing push ups and jogging round the park. In some areas there is even outside gym equipment you can use for free. I lived in Europe for a month once on 2 pounds (3,600 won) a day. 1 loaf of bread and a big sausage, half the bread and sausage for lunch and half for dinner with enough left over for a packet of ciggies. Useful for taking away the appetite. |
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