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Saving money - Big city vs. Small city

 
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enns



Joined: 02 May 2006

PostPosted: Thu May 18, 2006 11:36 am    Post subject: Saving money - Big city vs. Small city Reply with quote

I have heard conflicting stories about how much money you can save in small cities compared to larger cities. If someone is making 2.1 million in or around Seoul and someone is making 1.8 million in a smaller city of a couple hundred thousand, who is likely to save more after a year of employment? Not counting those who go wild at the big city bars every night, is there really a big difference in how much you can save in large cities compared to small?
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C.M.



Joined: 02 Dec 2005
Location: Gangwondo

PostPosted: Thu May 18, 2006 3:40 pm    Post subject: Reply with quote

A person will always be able to spend more in cities like Seoul or Busan; I live in a smallish city and, when I am focused on saving money, I can put away close to 1.5 million won each month (about $1700.00 CDN). Of course, I have been known to burn through my entire pay packet during months when saving money has not been a concern. You can save money no matter where you are: all depends on you.
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Dev



Joined: 18 Apr 2006

PostPosted: Thu May 18, 2006 6:52 pm    Post subject: Reply with quote

There's not much diff in the costs of living between the large & small cities in Korea (if your employer is picking up your rent). You will lose a bit more money if you eat in restaurants a lot. In a small town, you can get lunch for 3,500 won. In Seoul, the same dish wil cost 5000 won. This really doesn't affect me because I like eating at home and I buy my food in bulk. Taxis are a little more expensive in Seoul.

One thing that is cheaper in Seoul are the markets selling clothes and other goods. The reason is that there is simply a lot more competition between the sellers than in smaller cities.
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Harpeau



Joined: 01 Feb 2003
Location: Coquitlam, BC

PostPosted: Thu May 18, 2006 6:56 pm    Post subject: Reply with quote

Transportation wise Seoul (as well as Busan and other cities I would imagine) is great with the subways and buses. Getting around in a smaller town takes a lot longer at times and the system may not be as comprehensive. Myself, I would choose Seoul due to the opportunity. If you have great self-control, then you'll be fine.
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ajgeddes



Joined: 28 Apr 2004
Location: Yongsan

PostPosted: Thu May 18, 2006 7:18 pm    Post subject: Reply with quote

Also to think about is what are you going to do all the time in a small town? Are you going to take bi-monthly train trips to Seoul? They will dig into your earnings. Not saying everybody does this, but I know a few people that come to Seoul a lot and it really adds up.
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Dev



Joined: 18 Apr 2006

PostPosted: Thu May 18, 2006 7:28 pm    Post subject: Reply with quote

ajgeddes wrote:
Also to think about is what are you going to do all the time in a small town? Are you going to take bi-monthly train trips to Seoul? They will dig into your earnings. Not saying everybody does this, but I know a few people that come to Seoul a lot and it really adds up.


True, and while there are cheap buses to Seoul, they do take some time to get there and using the KTX round-trip can get expensive. With a cheap motel, meals and KTX, one weekend trip to Seoul will cost you about 150,000 won just for the basics.
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enns



Joined: 02 May 2006

PostPosted: Fri May 19, 2006 3:27 pm    Post subject: Reply with quote

Great advice guys, thanks. I think I will stick with my Seoul position then instead of looking elsewhere.
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