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How much money will I need?
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Kim Jong Jordan



Joined: 13 Mar 2004
Location: The Internet

PostPosted: Fri Mar 26, 2004 10:08 pm    Post subject: How much money will I need? Reply with quote

I'm going to teach in Korea In August, and I was wondering how much money I should bring in order to survive until I get my first paycheck. I'm Canadian, so Canadian funds of course. I'm thinking 2500 dollars to live off of. Do you agree? Disagree? Any Ideas? Your insight would be hugely appreciated! Very Happy
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ryleeys



Joined: 22 Dec 2003
Location: Columbia, MD

PostPosted: Fri Mar 26, 2004 10:30 pm    Post subject: Reply with quote

I lived off $400 American my first month here.
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J.B. Clamence



Joined: 15 Jan 2003

PostPosted: Sat Mar 27, 2004 12:40 am    Post subject: Reply with quote

If you only need to get by one month before your paycheck comes, $2500 is way more than what you would need. Day-to-day living expenditures are pretty low here compared to North America. It depends on your lifestyle, but about $700 Canadian should be enough for you to live well and have some fun. However, don't forget that you may also want to do some shopping for your new apartment (TV, DVD player, small portable stereo, etc.) if it's not already furnished. Bring some extra for that, unless of course you can wait a month.
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osangrl



Joined: 04 Nov 2003
Location: osan

PostPosted: Sat Mar 27, 2004 5:44 am    Post subject: Reply with quote

actually....i would transfer over about 1500.....as a newbie you won't exactly know the subways well and cheap food and such....so you will be taking more taxis etc. Also you will have to buy essentials for your house, cleaning supplies, detergent, butt wipe....it adds up..... 1500 is fine....but if you have more...the better time you will have. I spend about 2 million a month....and save only 500,000.....but im quite careless with money.
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FUBAR



Joined: 21 Oct 2003
Location: The Y.C.

PostPosted: Sat Mar 27, 2004 6:01 am    Post subject: Re: How much money will I need? Reply with quote

Kim Jong Jordan wrote:
I'm going to teach in Korea In August, and I was wondering how much money I should bring in order to survive until I get my first paycheck. I'm Canadian, so Canadian funds of course. I'm thinking 2500 dollars to live off of. Do you agree? Disagree? Any Ideas? Your insight would be hugely appreciated! Very Happy


You can live off less than 500 bucks. Most directors will lend you money if you are short prior to your first paycheck.

ALso keep in mind, that some directors pay you after the 5th week that you work there, not your 4th week.
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mindmetoo



Joined: 02 Feb 2004

PostPosted: Sun Mar 28, 2004 3:30 pm    Post subject: Reply with quote

osangrl wrote:
actually....i would transfer over about 1500.....as a newbie you won't exactly know the subways well and cheap food and such....so you will be taking more taxis etc. Also you will have to buy essentials for your house, cleaning supplies, detergent, butt wipe....it adds up..... 1500 is fine....but if you have more...the better time you will have. I spend about 2 million a month....and save only 500,000.....but im quite careless with money.


I would side with this view. Who is to say your school is going to even pay you after a month? I'm sure they will but given the horror stories, better to have a couple months living expenses just in case.

And I agree that depending on your apartment and what the previous teacher left, you might find you have some start up costs. Not every director realizes you might need a toaster oven, coffee maker, clock radio, microwave... You can ask your director for a few things but I find it's better not to seem "pushy" right from the get go... presenting him with a list of "demands".
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just because



Joined: 01 Aug 2003
Location: Changwon - 4964

PostPosted: Sun Mar 28, 2004 5:54 pm    Post subject: Reply with quote

Yeah...you could live off $500 but in your first month here you want to do all the new stuff and explore the place well.

$2500 is plenty of money until the first paycheck sso while you don't need this much it is better to be safe than sorry.

I brought $4000 with me(it was meant to go towards some key money on a house in Japan) and I spent it all however, but boy I had a good month. Very Happy
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crazylemongirl



Joined: 23 Mar 2003
Location: almost there...

PostPosted: Sun Mar 28, 2004 6:55 pm    Post subject: Reply with quote

I bought over $1000US and it lasted me two months.

from the FAQS


How Much Money Should I Bring With Me?

Some people land in Korea with barely a cent in their pockets but manage to survive until their first pay day (usually a month later). Many hakwon Directors will give their employees an advance on their first paycheck, but don't rely soley on this. Some people come with thousands in the bank. Most people advise to come with enough money to get back to your home country in case the need arose in an emergency.

1. How Much Money to Find Work in Seoul?
2. How Much Money Did You Bring With You?
3. How Much Will I Need to Live in South Korea for 1 Year?
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Tony Danza's Houseguest



Joined: 24 Jan 2004
Location: Osan Dong

PostPosted: Mon Mar 29, 2004 6:50 pm    Post subject: Reply with quote

I brought 150 dollars, my director gave me a 100,000 loan, and I was fine.
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Imbroglio



Joined: 23 Jan 2003
Location: Behind the wheel of a large automobile

PostPosted: Mon Mar 29, 2004 8:49 pm    Post subject: Reply with quote

I took 3K usd with me in 1996. Had a great time.
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cacheSurfer



Joined: 07 Dec 2003

PostPosted: Wed Mar 31, 2004 5:50 am    Post subject: Re: How much money will I need? Reply with quote

Kim Jong Jordan wrote:
I'm going to teach in Korea In August, and I was wondering how much money I should bring in order to survive until I get my first paycheck. I'm Canadian, so Canadian funds of course. I'm thinking 2500 dollars to live off of. Do you agree? Disagree? Any Ideas? Your insight would be hugely appreciated! Very Happy



2500 is a lot of money!

what city are you going to be in?
Even if you are in Seoul...you would never need that kind of money.
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jazblanc77



Joined: 22 Feb 2004

PostPosted: Sun Apr 04, 2004 3:13 am    Post subject: Reply with quote

Be my friend, I'll help you manage your money once you get here!!!
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