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CarolinaTHeels
Joined: 07 Apr 2011
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 Posted: Mon Aug 01, 2011 4:48 pm Post subject: How much money to bring for first month? |
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| My cashflow is running low right before I leave. Stressing out about how much money I will need to hold me over till my first pay check. |
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ttompatz
Joined: 05 Sep 2005
Location: Kwangju, South Korea
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| Posted: Mon Aug 01, 2011 5:12 pm Post subject: Re: How much money to bring for first month? |
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| CarolinaTHeels wrote: |
| My cashflow is running low right before I leave. Stressing out about how much money I will need to hold me over till my first pay check. |
IF you are going to a hagwan then $1000 is a good number but you can get by with less (I have known people to come over with as little as $400 in their pocket). Just remember to start to save for plan "B" before you hit the party circuit. (always a good plan to have exit money stashed away in case things go south on you).
If they are prepaying your airfare you can expect to wait up to 40 days before your first pay. There is always the option of asking for a small advance after you have been there for a couple weeks to tide you over till payday.
If you are going to a public school then you can get by with a bit less since you will get your settlement allowance within a week or so and your airfare allowance shortly after that AND you will get paid within 30 days of arrival.
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CarolinaTHeels
Joined: 07 Apr 2011
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| Posted: Mon Aug 01, 2011 5:51 pm Post subject: |
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| crap! guess ill be using my credit card! lol |
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mikeybhoy
Joined: 14 Oct 2007
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| Posted: Tue Aug 02, 2011 7:23 pm Post subject: |
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| For your first month, you could get by with 800. But, the first month is the best, so use your credit card and enjoy. Its more likely you'll spend over 1200 on supplies and going out. |
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northway
Joined: 05 Jul 2010
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| Posted: Tue Aug 02, 2011 8:52 pm Post subject: |
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| I always tell people to budget at least a grand. Even if you don't party too much you're first month, you have to assume some added money for incidentals such as getting your apartment set up, PC rooms, etc. Any less than that and you're going to be scrimping while you want to be making the most of your time in a new country. |
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crazyfingers
Joined: 28 Jan 2011
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| Posted: Tue Aug 02, 2011 9:44 pm Post subject: |
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| I think arriving with some money is a good idea for sure.. but in my case I arrived here with empty pockets for real. I think I might have had like 20 bucks. It was okay though, as the guy who hired me had no problems fronting me 500,000. That and the free pad was a nice deal for me. What works for some might not work for others.. I say don't sweat it. Just come here ready to work.. it will be fine. |
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PatrickGHBusan
Joined: 24 Jun 2008
Location: Busan (1997-2008) Canada 2008 -
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| Posted: Wed Aug 03, 2011 5:16 am Post subject: |
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| crazyfingers wrote: |
| I think arriving with some money is a good idea for sure.. but in my case I arrived here with empty pockets for real. I think I might have had like 20 bucks. It was okay though, as the guy who hired me had no problems fronting me 500,000. That and the free pad was a nice deal for me. What works for some might not work for others.. I say don't sweat it. Just come here ready to work.. it will be fine. |
Good if your employer is willing to front you the money.
If not you will be in dire straits.
Also note that this 500 000W you get fronted comes out of your first month's pay....
As a side note, a lot of hakwons still offer a relocation allowance for new teachers (varies from 300 000W to 500 000W). Check with your employer or read your contract OP.
As for a decent start up amount, 1000$ is a good number. You can also use your credit card but make sure it will be accepted in Korea (Visa is widely accepted for example but AMEX not as much).
Contact your credit issuing institution and advise them you are moving to Korea and will your card there. Otherwise they may lock your card if overseas purchases start popping up. Lots of credit companies will do this as a preventive measure. A short phone call to your credit company will avoid this. |
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Louis VI
Joined: 05 Jul 2010
Location: In my Kingdom
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| Posted: Wed Aug 03, 2011 5:55 am Post subject: |
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I brought $300 U.S.
Really, TEACHING ought to be your first priority your first few weeks at it. I remember my first payday fondly. I was able to let some air out of my tires, so to speak.
Bring as much or as little as your mentally prepared to live with your first month. |
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Sector7G
Joined: 24 May 2008
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| Posted: Wed Aug 03, 2011 6:21 am Post subject: |
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| Louis VI wrote: |
I brought $300 U.S.
Really, TEACHING ought to be your first priority your first few weeks at it. I remember my first payday fondly. I was able to let some air out of my tires, so to speak.
Bring as much or as little as your mentally prepared to live with your first month. |
I brought $500 U.S. and would have made it but in week 3 my employer offered a no strings pay advance which made things a lot easier.
However, that was with nothing going wrong. If it had I would have been up a creek with out a paddle, as Ttompatz has already said. |
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cert43
Joined: 17 Jun 2010
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| Posted: Wed Aug 03, 2011 9:39 am Post subject: |
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| So $300 is enough? If remembering correctly from the last time, Korea is doable ona small budget, right? |
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CarolinaTHeels
Joined: 07 Apr 2011
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| Posted: Wed Aug 03, 2011 11:16 am Post subject: |
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I think 300 will might you by if you dont go out and drink alot and dont buy alot of stuff for ur apt.
I should not have just went to central america and spent all my money! fml my credit card is gonna take a hit first month! lol |
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PatrickGHBusan
Joined: 24 Jun 2008
Location: Busan (1997-2008) Canada 2008 -
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| Posted: Wed Aug 03, 2011 11:31 am Post subject: |
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300 USD gets you around 315 000W today.
315 000W for one month works out to about 78 000W per week.
That is not enough to cover a month unless you stay home and do nothing.
There will be unexpected expenses when you arrive. Your first grocery bill can very well cost you 120 000W as odds are your pantry and fridge will be near empty.
If you need to commute to work on public transit, factor in roughly 2500W per day (12 500 for the week) not including whatever travel you do on the weekend.
A bare bones budget in a larger Korean city can easily run you 500 000 - 600 000W for that first month.
1000$ is wiser but barring that 300$ + a credit card can work too. |
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Speedling
Joined: 08 Jun 2011
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| Posted: Thu Aug 04, 2011 12:13 am Post subject: |
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| I brought $1500 and I'm glad I did. I get my first pay at the start of next week and i'm down to about W300 000. That being said I could easily have spent half that. But instead I enjoyed myself, the sights and the nightlife. A teacher I work with brought a lot less and is fine. |
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isisaredead
Joined: 18 May 2010
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| Posted: Thu Aug 04, 2011 6:00 pm Post subject: |
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| i would suggest a million won. if you work at a hagwon, you should be able to get an advance if you're running low on cash. i did, and i know many other people have done that at various hagwon. |
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cert43
Joined: 17 Jun 2010
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| Posted: Fri Aug 05, 2011 4:37 am Post subject: |
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| @Tar Hills- WTF?!!! :shock:Why you people always making fun of her for real? |
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