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cj1976
Joined: 26 Oct 2005
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 Posted: Sun Aug 24, 2014 6:41 pm Post subject: |
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| Sector7G wrote: |
| cj1976 wrote: |
It depends what stage you are at in life. I'm married and in my 30s. When I came here 8 years ago, it was different. I hardly saved a penny every month because I would basically piss it all away in bars. Now I'm older I don't feel that urge so much. I prefer to save money for my two annual vacations in more enjoyable countries. |
Ok, but that's a little bit different. Yes, you are still "saving" around 300K a month by not going to the pubs, but you probably don't want to so much anymore anyway since you are married so it's not like a hardship that takes extraordinary willpower or anything. I'm sure the two of you still go out to eat or order in occasionally, in addition to your vacations, right?
Anyway, it does not matter. I'm probably the last person in the world who should be advising someone else on how they should spend their money...  |
We eat out all the time, and generally have a decent enough life. The main reason we can save though is because of the uniquely Korean chonsei system. When we rented, it was 800k per month. Not paying rent every month makes the real difference. |
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Zyzyfer
Joined: 29 Jan 2003
Location: who, what, where, when, why, how?
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| Posted: Sun Aug 24, 2014 8:27 pm Post subject: |
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| Maserial wrote: |
| EZE wrote: |
I haven't eaten in a restaurant on my own dime since February or so. I cook everything at home and drink only tap water, tea, or instant coffee. Mostly tap water. A 20 kg bag of rice is cheap and goes a looooong way.
I got a vasectomy. |
Isn't this thread about awesome ways to save money? |
Nice.
I remember being between jobs one time, and trying to save money. So I would take plastic water bottles up to the 약수터 to refill them, and I mainly ate rice and frozen mandu.
....................I fondly look back on that time, and think, "Man that sucked ass." |
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r.
Joined: 06 May 2006
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| Posted: Sun Aug 24, 2014 9:52 pm Post subject: |
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But how much money do you have tied up in the Chonsei system? What interest would you be making on that money annually if you had invested it into an index fund? What is the difference between that and $9,600 per year?
| cj1976 wrote: |
| The main reason we can save though is because of the uniquely Korean chonsei system. When we rented, it was 800k per month. Not paying rent every month makes the real difference. |
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Fox
Joined: 04 Mar 2009
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| Posted: Sun Aug 24, 2014 9:57 pm Post subject: |
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| Zyzyfer wrote: |
and I mainly ate rice and frozen mandu.
....................I fondly look back on that time, and think, "Man that sucked ass." |
Frozen mandu is actually pretty good, though, and Korean rice is great. As ultra-cheap subsistence diets go, that's not a bad one, though you probably could have had a lot more diversity in the same budget if you had swapped in some tofu-based soup dishes. |
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cj1976
Joined: 26 Oct 2005
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| Posted: Sun Aug 24, 2014 10:08 pm Post subject: |
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| r. wrote: |
But how much money do you have tied up in the Chonsei system? What interest would you be making on that money annually if you had invested it into an index fund? What is the difference between that and $9,600 per year?
| cj1976 wrote: |
| The main reason we can save though is because of the uniquely Korean chonsei system. When we rented, it was 800k per month. Not paying rent every month makes the real difference. |
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We put down about 230 million KRW to move in. We had our funds in some kind of investment scheme but had to withdraw it in order to pay the chonsei.
Generally, I save more money now because I don't waste as much on frivolous shit |
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wanderkind
Joined: 01 Jan 2012
Location: Japan
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| Posted: Sun Aug 24, 2014 11:24 pm Post subject: |
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| cj1976 wrote: |
| r. wrote: |
But how much money do you have tied up in the Chonsei system? What interest would you be making on that money annually if you had invested it into an index fund? What is the difference between that and $9,600 per year?
| cj1976 wrote: |
| The main reason we can save though is because of the uniquely Korean chonsei system. When we rented, it was 800k per month. Not paying rent every month makes the real difference. |
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We put down about 230 million KRW to move in. We had our funds in some kind of investment scheme but had to withdraw it in order to pay the chonsei.
Generally, I save more money now because I don't waste as much on frivolous shit |
Was that out of pocket or loaned? |
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metalhead
Joined: 18 May 2010
Location: Toilet
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| Posted: Tue Aug 26, 2014 2:48 pm Post subject: |
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| AMERICA AMERICA this happens in AMERICA too. |
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Adam Carolla
Joined: 26 Feb 2010
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| Posted: Fri Aug 29, 2014 6:43 am Post subject: |
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| cj1976 wrote: |
| r. wrote: |
But how much money do you have tied up in the Chonsei system? What interest would you be making on that money annually if you had invested it into an index fund? What is the difference between that and $9,600 per year?
| cj1976 wrote: |
| The main reason we can save though is because of the uniquely Korean chonsei system. When we rented, it was 800k per month. Not paying rent every month makes the real difference. |
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We put down about 230 million KRW to move in. We had our funds in some kind of investment scheme but had to withdraw it in order to pay the chonsei.
Generally, I save more money now because I don't waste as much on frivolous shit |
Real world example: I dumped 80 grand in an index fund in 2011. It's now up to $104,000. Ever so roughly 10 percent/year (would have been much higher but the stock market took a dump about ten minutes after I invested.)
So, even in my horrible scenario, you'd be up almost 70 million won in the same time period. Honestly, the chonsei system was designed to let your investment-minded landlord use your money to make them money. This idea of "chonsei equals free-rent" needs to go out the window. |
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Adam Carolla
Joined: 26 Feb 2010
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| Posted: Fri Aug 29, 2014 6:46 am Post subject: |
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| On-topic and pertaining to Korea and the rest of the world: Do yourself a favor and learn to cook. It's like f*cking, you'll be doing a lot of it, you may as well become good at it. |
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Stan Rogers
Joined: 20 Aug 2010
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| Posted: Fri Aug 29, 2014 7:17 am Post subject: |
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| There are many acorn trees in Korea and you can eat these free acorns instead of buying food. |
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EZE
Joined: 05 May 2012
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| Posted: Fri Aug 29, 2014 7:37 am Post subject: |
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| Adam Carolla wrote: |
| On-topic and pertaining to Korea and the rest of the world: Do yourself a favor and learn to cook. It's like f*cking, you'll be doing a lot of it, you may as well become good at it. |
Exactly. All of my meals at home are always the right temperature and the amount of herbs, salt, etc. are always exactly to my liking. If I go to a restaurant, I'm paying extra to have the meal non-customized. I'm actually not a picky eater, but when it comes to cooking, if you want it done exactly right, you've gotta do it yourself.
I'm certainly not saying to eat only rice. I'm just saying when you buy a big bag and take it home, that saves a lot of money (and time). If you eat it at a restaurant, you're paying several times more for the same thing, and it's often leftovers from previous customers who didn't eat all of theirs.
With meat, you save a lot by eating at home too, and restaurants never have the herbs and seasonings you need when it comes to meat. At home, you're able to micromanage how well your meat is or isn't cooked. I could go on and on with other types of food.
If I'm on a trip, I eat at restaurants, but I pay more for less in quantity and quality. If I eat out in Korea, it's usually sushi or something else that I like, but don't know what I'm doing if I try to fix it myself. |
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Adam Carolla
Joined: 26 Feb 2010
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| Posted: Fri Aug 29, 2014 8:26 am Post subject: |
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[quote="EZE"]
| Adam Carolla wrote: |
| If I eat out in Korea, it's usually sushi or something else that I like, but don't know what I'm doing if I try to fix it myself. |
Same philosophy here, we generally only go out for sushi.
Why? In my experience:
Italian food generally isn't very good.
Indian isn't available nearby.
Chinese is "good" but rarely "great".
Steaks/burgers/ribs/hot wings: Can do better at home.
Pizza where I live blows.
The chain restaurants (Outback, Applebees, etc) are more likely to give you food-poisoning than a decent meal. Plus, I once worked at an Applebees in my youth. You don't want to eat what they pass off as food.
Easier just to cook your own way and be sure of a decent meal. |
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Cave Dweller
Joined: 17 Aug 2014
Location: Seoul
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| Posted: Sat Aug 30, 2014 5:48 pm Post subject: |
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| I eat almost totally Korean food here. At least they cant screw that up. |
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Lazio
Joined: 15 Dec 2010
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| Posted: Sun Aug 31, 2014 5:47 am Post subject: |
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| Stan Rogers wrote: |
| There are many acorn trees in Korea and you can eat these free acorns instead of buying food. |
And they are called oak trees.
Also; Christmas trees are actually pine trees.  |
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Weigookin74
Joined: 26 Oct 2009
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| Posted: Mon Sep 01, 2014 2:28 am Post subject: |
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| Squire wrote: |
| I must have saved some money this summer on air con. I'm sure I've only turned mine on two or three times. If I've used it four times thus far I'd be surprised- the preceding three summers were much hotter than this has been |
I'll happily pay the extra 37,000 won in electric every month for four months a year to be comfortable. |
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