Korean Job Discussion Forums

[mikeybhoy]

On the avg. salary of 2.0-2.1, very sorry search option not responding so am unable to search this. But when they say the avg person saves approx. $1000 us does this mean that the avg person does the whole few trips to Thailand etc. I like to party, but am not a heavy drinker, i would like to see japan and thailand and at the same time enjoy my year with some shopping etc. Thus do the whole weekend club bar thing. If you are similar to me what would you suggest as avg. saving potential.

[Dome Vans]

I think of saving 1000 dollars is if you limit yourself to not too much going out. I get 2.2 paid after deductions. I send home 1.5 million every month which is about 1500 dollars. And all my gas and electricity is paid by the landlord so no worries there.

This month is a bit tight because 3 days in Seoul for Chuseok and then a weekend at Jinju for the lantern festival has cleaned me out. Granted I did spend a fair bit.

Flying to Thailand, the flight, if you book through a Korean travel agent can be about 300 000 or thereabouts. and then on top of that you need the accomodation/food etc so it all adds. Japan not too sure about the prices. Would have thought these trips could be done every 3 or 4 months if there was a bit of saving, because they can make a real dent in the wallet. But that's just me. Most of the people here make these trips so it's definately doable.

[ttompatz]

[Dome Vans]

[johninmaine]

...good post Ttom -- i think a trip to Thailand would tire me out too much. i'd rather sleep during my vacation, and let my immune system recover. but then again, im 37.

[ttompatz]

[Unposter]

Ttompatz rocks! That sounds about right.

I think the whole 1 million per month savings is just a basic rule of thumb. If you live simply, it could be more. If you like to spend, it could be less. I always add extra costs into my figures and if they don't come true, I can always be pleasantly surprised.

[kingplaya4]

That's an old maxim about being able to save a grand a month on 2.0 here. Prices rise fast here, so if you go out much, or want to eat decent food it isn't happening.

If you don't mind living small, ie limiting your nights out, maybe making one trip somewhere, and can subsist on cheap Korean fare, than its definitely doable. But when I first was thinking about coming here, I read posts claiming you could live like a king on that salary and still have a grand left over, simply not true.

You should be able to score a 2.2 gig as a firstimer nowadays though.

[jajdude]

I'd say 8 mil is more than enough for utilities and food. Maybe 6 is enough. I've heard people say they only spend 500,000 per month, so must be possible.

Depends though.

[reactionary]

expect your savings to go down quite a bit if you have a girlfriend too.

[IncognitoHFX]

[SPINOZA]

[biggpoppa]

this is what i've figured out for myself on a 2.1 mil sal.

unfortunately right it sucks for me cause I'm Canadian and the stupid dollar is kicking some major ass, so i'm hoping it returns to its usual avg of 800 - 850 won before i leave, instead of this 950 won crap it is right now...lol

anyways here is pretty much my spending habits so you can compare
my gym membership was 580k for the yr...so that was my only major expense

i have a 25k a month maintenance fee (essentially my internet and cable i pay to my landlord, not a bad deal)

i have a school lunch at 30k a month, and then i eat dinner out everyday...runs me about 160k a month...i eat cheap during the week and indulge a little more on the weekend...i prefer soju over any beer...so my alcohol on weekends is dirt cheap, i spend like 10 bucks on soju each weekend...if that...the 2l bottles are awesome for pre drinking...

i play hockey here as well which costs me about 100k a month after ice time and taxi rides

oh and utilities for me are about 10k to 15k a month...gas and electricity...i'm very diligent on not using needless electricity and i barely cook at home, so its pretty cheap...

so adding that all up i spending about 330k to 350k a month on the basics to enjoying my kind of lifestyle here...however i give myself 500k each month for EVERYTHING and so far so good...and i mean since i drink soju and not beer i save a lot of coin at the bars...and remember you're probably not playing hockey...

i have a nice set up with my internet and tv...

luckily i get my pension back and severance when i'm done here...(nice having that canadian rule on pension)

i want to leave with about 15 million won if possible after i get my severance and my pension...i think its quite possible...but of course thats still a long way out...

but in your situation, i don't see 1000 US a month as being a problem...

[mspencer1983]

saving 1000 bucks a month on an entry level salary is next to impossible unless you are frugle....which MOST of the foreign teachers i met in korea were...i felt like i was the only person who was pretty frivilous, i have always been a big shopper and i like fancy drinks and meals...

i saved about 500 bucks a month...think about it.

youve got 2 grand a month

500- utilities and food.

500- savings

1000- 250 per week on parting and shopping and travelling expenses...

sometimes it was a struggle just to save 500.....and you sound like you want to do a lot.

dont expect to save much. im saving a lot more in my second year...mostly because im not as excited about the place anymore.

[biggpoppa]