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PStafford
Joined: 17 Jan 2014
Location: Hongseong
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 Posted: Wed Feb 12, 2014 11:30 am Post subject: How much money should i bring? |
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Im new to South Korea in 2 weeks. I'm just wondering what start up costs I'll need or how much money should i bring with me? I only get my first paycheck March 25th?
Please help as I'm pretty low on funds.
Thanks |
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Lucas
Joined: 11 Sep 2012
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| Posted: Wed Feb 12, 2014 4:15 pm Post subject: |
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| Get a credit card and set up online banking before you leave. |
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Fox
Joined: 04 Mar 2009
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| Posted: Wed Feb 12, 2014 4:33 pm Post subject: Re: How much money should i bring? |
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| PStafford wrote: |
Im new to South Korea in 2 weeks. I'm just wondering what start up costs I'll need or how much money should i bring with me? I only get my first paycheck March 25th?
Please help as I'm pretty low on funds.
Thanks |
If you are low on funds then the answer to, "How much money should I bring?" is probably, "All of it." Lucas' advice to get a credit card is also sound. If you live frugally, you can get through the month until your first paycheck on just a few hundred dollars. But that's assuming no emergency happens. The most important thing is making sure you have enough funds available (either in cash or credit) to buy a return ticket home, because it's not unheard of for jobs to suddenly vanish, and you don't want to be trapped. |
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Lucas
Joined: 11 Sep 2012
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| Posted: Wed Feb 12, 2014 7:05 pm Post subject: |
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| Plus if you end up staying in Korea 1-2-3 years you'll be building up a credit rating for when you go home, which you'll need for a mortgage for a house (unless you've got rich parents). |
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wishfullthinkng
Joined: 05 Mar 2010
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| Posted: Wed Feb 12, 2014 8:15 pm Post subject: |
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| only problem with that is unless you specifically set up an international setup with citibank (i'm not sure but i believe they are the only ones who do it), you will get pinged by not only the current bank currency conversion rate, but also with a international transaction fee per use. so if you use your cc to make small purchases it will be way more hassle than it's worth. |
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Lucas
Joined: 11 Sep 2012
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| Posted: Wed Feb 12, 2014 8:37 pm Post subject: |
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| Quote: |
| only problem with that is unless you specifically set up an international setup with citibank (i'm not sure but i believe they are the only ones who do it), you will get pinged by not only the current bank currency conversion rate, but also with a international transaction fee per use. so if you use your cc to make small purchases it will be way more hassle than it's worth. |
That's true, but if you use it a few times every month, you are at least proving that you're a responsible lender.
If you do end up staying in Korea for more than a year - you're credit rating when (if) you do go home is something you should think about. |
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