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madoka
Joined: 27 Mar 2008
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 Posted: Fri Feb 03, 2012 12:09 pm Post subject: |
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| jfromtheway wrote: |
Why do you feel the need to mention this as a preamble to half of the nauseating posts you make? |
It lays a foundation of experience and shows that he knows what he's talking about. Unlike the carousel of socks, trolls, and previously banned users that frequent this board and contribute nothing. |
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madoka
Joined: 27 Mar 2008
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| Posted: Fri Feb 03, 2012 12:12 pm Post subject: |
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| Swampfox10mm wrote: |
No matter what the apologists say, prices are far, far worse than before. |
I don't think I've seen anyone, apologist or not, EVER make that argument. In fact, I think it's universally accepted that they are worse.
You're tilting at windmills again. |
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atwood
Joined: 26 Dec 2009
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| Posted: Fri Feb 03, 2012 1:43 pm Post subject: Re: Why do people think Korea is so great for saving money? |
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| akcrono wrote: |
| AtmaWeapon wrote: |
Aside from saving on costs associated with driving such as gas and insurance
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There's your problem. I spend about half in transportation a month than I did just on car insurance at home. That alone is huge savings.
| AtmaWeapon wrote: |
I managed to save $20K over 15 months my first time around which is OK, but my friend who works an entry level job saved $30K during my time in Korea. Granted he was living with his parents |
That right there makes the comparison unbalanced. |
Living without a car and the associated benefits also make any comparison unbalanced. |
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PatrickGHBusan
Joined: 24 Jun 2008
Location: Busan (1997-2008) Canada 2008 -
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| Posted: Fri Feb 03, 2012 3:07 pm Post subject: Re: Why do people think Korea is so great for saving money? |
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| atwood wrote: |
| akcrono wrote: |
| AtmaWeapon wrote: |
Aside from saving on costs associated with driving such as gas and insurance
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There's your problem. I spend about half in transportation a month than I did just on car insurance at home. That alone is huge savings.
| AtmaWeapon wrote: |
I managed to save $20K over 15 months my first time around which is OK, but my friend who works an entry level job saved $30K during my time in Korea. Granted he was living with his parents |
That right there makes the comparison unbalanced. |
Living without a car and the associated benefits also make any comparison unbalanced. |
Not really....
Not needing a car IS a benefit. |
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NYC_Gal 2.0
Joined: 10 Dec 2010
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| Posted: Fri Feb 03, 2012 4:08 pm Post subject: |
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| I never needed a car in NYC. |
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atwood
Joined: 26 Dec 2009
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| Posted: Fri Feb 03, 2012 6:09 pm Post subject: Re: Why do people think Korea is so great for saving money? |
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| PatrickGHBusan wrote: |
| atwood wrote: |
| akcrono wrote: |
| AtmaWeapon wrote: |
Aside from saving on costs associated with driving such as gas and insurance
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There's your problem. I spend about half in transportation a month than I did just on car insurance at home. That alone is huge savings.
| AtmaWeapon wrote: |
I managed to save $20K over 15 months my first time around which is OK, but my friend who works an entry level job saved $30K during my time in Korea. Granted he was living with his parents |
That right there makes the comparison unbalanced. |
Living without a car and the associated benefits also make any comparison unbalanced. |
Not really....
Not needing a car IS a benefit. |
Yes and no. There are lots of times when having a car comes in handy, even if you don't drive it everyday. It can be a benefit financially, a benefit to the environment, a benefit to those who are seeking a simpler lifestyle for a variety of reasons, but overall life is a lot easier and in many ways better with a car.
And thus my original point stands. |
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atwood
Joined: 26 Dec 2009
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| Posted: Fri Feb 03, 2012 6:11 pm Post subject: |
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| NYC_Gal 2.0 wrote: |
| I never needed a car in NYC. |
I lived in Manhattan and needed a car from time to time. Plenty of people who live there have cars. And if you lived in one of the other boroughs, you;d probably need a car. |
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OBwannabe
Joined: 16 Feb 2008
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| Posted: Fri Feb 03, 2012 9:11 pm Post subject: |
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I was looking forward to having a car agian before I moved back to Canada. It wasn't until my return that I truly began to appreciate Seoul's transportation system for just how awesome it is.
I now live on the edge of a city with a population of 1 million. The subway doesn't reach out to where I live, so when going downtown, or anywhere in the city, I'm forced to drive. I could take the bus, but I hate taking the bus and it just takes too long anyway.
I never realized how much Seoul's fantastic subway sys and cheapish taxis contributed to my drinking habit ha ha. I did have a much richer social life then.
I'd trade my car in for Seoul's/Korea's transit system any day. |
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motiontodismiss
Joined: 18 Dec 2011
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| Posted: Fri Feb 03, 2012 10:35 pm Post subject: |
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| sallymonster wrote: |
And that last apartment is not in Portland, it's in Vancouver, WA. Trust me, you don't want to live there! |
What's not to like? Shop across the border in Oregon-no sales tax. Since you live in Washington State, no state income tax. And given that income tax in Oregon goes up to 11.5%, that's a lot of money. For a $60k salary, assuming it's on a graduated scale of some kind, we're talking about $4,000 in savings plus a 6-10% discount on everything you buy (no sales tax in OR).
Last edited by motiontodismiss on Fri Feb 03, 2012 10:38 pm; edited 1 time in total |
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motiontodismiss
Joined: 18 Dec 2011
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| Posted: Fri Feb 03, 2012 10:37 pm Post subject: |
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| atwood wrote: |
| NYC_Gal 2.0 wrote: |
| I never needed a car in NYC. |
I lived in Manhattan and needed a car from time to time. Plenty of people who live there have cars. And if you lived in one of the other boroughs, you;d probably need a car. |
I agree with this. I lived in Manhattan and there were occasions when I wished I had a car. But in NYC there's always Zipcar. Usually cheaper than Avis and they pay for gas and parking. |
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earthquakez
Joined: 10 Nov 2010
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| Posted: Fri Feb 03, 2012 10:54 pm Post subject: |
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quality of life depends on where you came from and what you want to do.
As far as apartments go, save up your cash and get a "proper" apartment whatever that means to you.
I've got a 3 bedroom, it's no less "proper" than the apartment I had back home, except that it's actually got one more bedroom.
Often teachers who stay here long term, even those who aren't married will start to find their own accommodations. As someone suggested, you could work the system a little, make some side money and save 2 million a month. After 4 years, 100,000. That's Jeonse range for a 2 bedroom "proper" apartment (I'm assuming you mean something with a kitchen, living room, and independent bedrooms) in some areas of Seoul.
driving..well.. head out of the city. Driving to work every day here would be stupid. Why not head out of the city, rent a car, and take a drive on the weekend? |
The above was said by Alongway. The problem with what he/she said about saving for an apartment etc in Korea as an E-2 visa teacher is exactly that - absolutely no security apart from a 1 year contract that must be renewed or sought again on the whims of an employer. Many E-2ers have no connections or networks with Korean people and that is not always because they don't want to. Not being a utilitarian person I have no Korean friends that I made for the purposes of helping me with life in this country. The few Koreans I can genuinely call friends have nothing they can help me with in terms of recommending me for jobs, helping me find different accommodation etc.
The foreigners, teachers or not, with a more secure visa and family/influential friend connections win out every time and handsomely over the E-2 visa foreigner working as an English teacher. I and other E-2ers cannot get a smart phone and do not tell us we can -we can't because of the ending date on our one year visas. Telecommunications businesses have the right to deny somebody with such a limited stay in Korea a smart phone.
The idea of E-2ers unless they have loads of cash to almost buy an apartment outright (and even then it's questionable if an E-2er can buy an apartment or land in Korea with their low-end, limited visa status) buying an apartment is unrealistic. 
The OP was correct in much of what they said. Wages and salaries are much higher in the home countries of foreigners from the UK and Australia to name only two. The social security system means a lot of benefits such as subsidised housing though personally I would never want to be on the dole in the UK as opposed to teaching English in Asia although salaries and conditions are getting worse. Entry level salaries in Korea are that - applied across the board in the EFL/ESL industry. The facebook generation coming here to find their first real job will ensure that the mediocre salaries and conditions continue for a long time to come.
It seems a lot of posters on this board don't really think of economic realities such as inflation. The threat of hyperinflation is a reality in some of the countries foreigners come from (if the US dollar begins to get rejected by trading partners watch out Americans because a huge deflation will follow and the practice of trillions of debt and printing endless money is an insane game of chicken that your govt engaged in under Bush and now the 'hero' who was supposedly going to save the US, Obama) and inflation here is starting to run rampant. 
Do a reality check on how much basic goods and services have gone up in Korea and then come back and tell us on this board how good Korea is for saving. The constant addition of 10 and 20 won to food and items such as soap and toilet paper (actually it's more for those two) has been noted by me for some time, some transportation systems in cities outside Seoul are more expensive than in countries such as the US.
All fruit except for bananas is over-priced in Korea. Most food imported is grossly over priced as are the foreign restaurants. Yes, the normal K restaurants are still good value but the quality of a lot of the food is not good the more you live here and can distinguish the way the food should taste. Cheap restaurants have cheap ingredients, too much salt and colouring in the food and the preparation is not very hygienic in some cases.
Costco is a bit of a joke. Even with bulk purchases some of the food items are far too high in cost. The Kirkland brand is a ripoff. Costco has less food items now and they're all more expensive, too expensive in some cases. Emart is also a joke - I couldn't believe what they ask for many food items. The best supermarket is Homeplus (Tesco in the UK) and although inflation is starting to run wild there too, it is still better value than Costco and Emart.
UK transportation is way too expensive but I could travel around cities in Australia all day on different transportation in integrated systems all day and night at ticket price far cheaper than what I would spend doing the same in Korea. Korean transportation is not cheaper than many of the countries we come from.
Utilities are not bad although I have noticed that gas is very expensive in colder/cold months. You're better off using electricity for heating in Korea unless your apartment/officetel etc has priced electricity use higher than gas use. Another good reason to use gas - most accommodation in Korea was made cheaply and too quickly. Formaldehyde coating on the floorboards ensures your ondol will be giving you those fumes as you relax and sleep. Maybe that is where 'fan death' comes from. 
Verdict - without rent free-accommodation for E-2ers (although it is not free in the sense that it is listed as part of your salary) Korea is really not anything like a great deal for money and saving. Salaries and conditions are mediocre and getting worse in some cases and while that's all those who come here for debt payment etc and who have no goals regarding English teaching or skills or passion deserve, it does make it hard for those who don't fit into those categories.
Last edited by earthquakez on Fri Feb 03, 2012 11:09 pm; edited 5 times in total |
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earthquakez
Joined: 10 Nov 2010
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| Posted: Fri Feb 03, 2012 10:56 pm Post subject: |
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| Edited because of doube posting. |
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alongway
Joined: 02 Jan 2012
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| Posted: Fri Feb 03, 2012 11:32 pm Post subject: |
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| I and other E-2ers cannot get a smart phone and do not tell us we can -we can't because of the ending date on our one year visas. Telecommunications businesses have the right to deny somebody with such a limited stay in Korea a smart phone. |
You lost me there.
Many E-2s have smart phones. KT specifically allows E-2s to get smart phones. All you're required to do is go back when you get a new visa and they carry your plan over. Even F series have to do that, as initially the original F-2-1 was for only 1 year, sometimes lucky if you already had a kid and a friendly immigration officer.
The F-2 points is also very attainable for anyone who really wants to stay on here long-term. With a minimum amount of Korean study, most people should be within spitting distance.
| Quote: |
| All fruit except for bananas is over-priced in Korea. |
Mandarin oranges are a good price in season here, and I find them to be in season here longer than back home. At their best point, I was getting them for about $1/lb
Watermelon will hit a good price at their peak, but I find the peak season a little shorter here than back home
Likewise yellow melons and if you like them, persimmons are priced fine in season.
I've never found anything wrong with Costco's prices. |
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Captain Corea
Joined: 28 Feb 2005
Location: Seoul
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| Posted: Sat Feb 04, 2012 12:03 am Post subject: |
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| PatrickGHBusan wrote: |
| Captain Corea wrote: |
| Times30 wrote: |
I'll break it down for how it worked for me
America
$2000
-600 rent
-100 utilities
-700 for food and daily living
~Aprox $600 in savings
Korea
$2000
- 0 Rent
- 100 utilities
- 500 for food and daily living
~ aprox $1400 in savings
Here's the thing, despite all the savings you have a BETTER time in Korea. In America I literally had to buy food hobo food. I'd eat Ramen some nights, I'd have to forego beef etc. In Korea I eat like a goddamn king. you get donkatsu, a bibimbap and if still hungry you can throw in some mandu. |
Perhaps we define "eating like a King" differently. |
Perhaps but what he says has a lot of truth to it Captain. |
What part? I don't think eating Dongasu is eating like a king. Nor do I think his A to B comparison is actually very accurate.
As somebody else mentioned in this thread, these comparisons aren't making much sense. For some, they work well, but for others, they are totally out to lunch. |
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northway
Joined: 05 Jul 2010
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| Posted: Sat Feb 04, 2012 12:03 am Post subject: |
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| alongway wrote: |
| Quote: |
| I and other E-2ers cannot get a smart phone and do not tell us we can -we can't because of the ending date on our one year visas. Telecommunications businesses have the right to deny somebody with such a limited stay in Korea a smart phone. |
You lost me there.
Many E-2s have smart phones. KT specifically allows E-2s to get smart phones. All you're required to do is go back when you get a new visa and they carry your plan over. |
Seriously, if the poster really thinks that he's just being lazy. I work with five people on E-2s who all have iPhones. |
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