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blues2
Joined: 08 Dec 2005
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 Posted: Mon Dec 12, 2005 5:23 am Post subject: whats the min monthly won to save 400 usd a month |
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| in china looking at korean job offers what do i need to save appx 400 usd a month. at least 2.3 m a month. is 1.9 much to low? |
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Wrench
Joined: 07 Apr 2005
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| Posted: Mon Dec 12, 2005 5:29 am Post subject: Re: whats the min monthly won to save 400 usd a month |
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| blues2 wrote: |
| in china looking at korean job offers what do i need to save appx 400 usd a month. at least 2.3 m a month. is 1.9 much to low? |
www.xe.com |
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blunder1983
Joined: 12 Apr 2005
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| Posted: Mon Dec 12, 2005 5:35 am Post subject: |
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I'm on 1.9 which equates to 1.7 after tax, health insurance and food.
I live nicely off 1million (bought an ipod, xbox etc. all in that budget) and send home $700 a month. If you budget u'll be saving $400 on virtually any payscale. That said, I'd still shoot for 2.2 if u got experience in the teaching field. |
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joe_doufu
Joined: 09 May 2005
Location: Elsewhere
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| Posted: Mon Dec 12, 2005 6:19 am Post subject: |
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| I make slightly over 2 million won here. It works out to about 2 million after taxes, of which i can send about US$1200 home each month. Unless I'm studying Korean as I was a few months back, which cost about $300/month tuition (but it was worth it!). |
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VanIslander
Joined: 18 Aug 2003
Location: Geoje, Hadong, Tongyeong,... now in a small coastal island town outside Gyeongsangnamdo!
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| Posted: Mon Dec 12, 2005 6:48 am Post subject: |
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| blunder1983 wrote: |
| I'm on 1.9 which equates to 1.7 after tax, health insurance and food. I live nicely off 1million (bought an ipod, xbox etc. all in that budget) and send home $700 a month. If you budget u'll be saving $400 on virtually any payscale. That said, I'd still shoot for 2.2 if u got experience in the teaching field. |
This is all so true. |
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chronicpride
Joined: 16 Jan 2003
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| Posted: Mon Dec 12, 2005 7:03 am Post subject: Re: whats the min monthly won to save 400 usd a month |
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| blues2 wrote: |
| in china looking at korean job offers what do i need to save appx 400 usd a month. at least 2.3 m a month. is 1.9 much to low? |
I suppose I'll be the first one to go ahead and spit out the oft-quoted savings rule "If you drink a lot and eat out at western restaurants often, don't expect to save a great deal. Especially if you live in Seoul. If you watch your weekly food expenses, only drink on weekends, then you should have no trouble saving 40-50% of your net income." Especially if you follow advice given in this thread. |
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Mr. Pink
Joined: 21 Oct 2003
Location: China
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| Posted: Mon Dec 12, 2005 1:42 pm Post subject: |
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| Let's put it this way, when I first started in this country, the pay was 1~1.2mil per month for 90% of the jobs out there. The exchange rate was a wee bit better. I was sending home $500 a month from a 1.1mil salary. Anyone who can't save $400 a month from a 1.5+ salary really needs to check their lifestyle out. Considering most hawgwons give you a place to live, all you need to buy is food and pay your utils. If you have a drinking problem, well even 5mil a month can go fast when you are hitting the bars every night...so if you got the typical 1.9mil job over here, you should be saving $1000 a month or more. |
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