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Korean Job Discussion Forums
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jamasian
Joined: 01 May 2011
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 Posted: Tue Nov 15, 2011 12:08 am Post subject: 2011 rates |
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Hey anybody wanna update an estimate of expenses? I need to plan how much to bring over  |
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ttompatz
Joined: 05 Sep 2005
Location: Kwangju, South Korea
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| Posted: Tue Nov 15, 2011 12:37 am Post subject: Re: 2011 rates |
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| jamasian wrote: |
| Hey anybody wanna update an estimate of expenses? I need to plan how much to bring over |
1st month you will need about $1000 to get by without scrimping on anything.
You can squeeze by on as little as $300 (but it IS a squeeze).
Most newbies bring somewhere between $500-1000.
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wandrousmuse
Joined: 27 Feb 2012
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| Posted: Mon Nov 12, 2012 9:16 am Post subject: Updated living expenses |
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| justagirl wrote: |
Plan on the 1.7-2.0 million for a basic salary. I asked my boss for a flate amount after all taxes, medical deductions, etc, so I know how much I'll be getting every month.
You can send over half of your paycheck home and still have a lot of fun. Since your apartment will be paid for, here are a few of the other estimates for bills, etc:
(this is what I paid for my place. It was 12 pyong)
Water: included in rent, so I didn't pay it. Shouldn't be over 10,000 if you do have to pay it.
Gas: in the summer, from 14,000 to 20,000
in the winter, from 30,000 to 65,000
Electricity: from 4,000 to 18,000 (I had a/c in the summers)
Phone: land line, calling locally, about 15,000
Phonecard: 25,000 each month 9 hours to call the US
Internet: ADSL Premium, 45,000
Satallite Cable: 18,000
So about 150,000 a month (if you even want all that stuff!)
personal spending:
Food 300,000
Travel (bus, train, taxi) 80,000
Entertainment (movies, museums, dates) 100,000
Medical 30,000
Contingency 50,000 (rolls over to vacation fund!)
Savings in Korea 200,000
To send home: 900,000
Anyway, this is just an idea of how you could spend your money. I'm not looking for someone to come attack me for spending a "whopping" 18,000 on cable, or how I should have a larger medical fund. This is just an informational post about what kinds of things you can spend $ on, and about how much some things cost (ie: utilities).
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I have yet to find a more comprehensive sample budget for would-be ESL teachers in Korea. Of course, this was posted nearly 10 years ago. Is this still a fairly accurate representation of what one should expect to spend in a South Korean city? I don't entertain any false hopes of living in Seoul, so I've decided to stick to other large cities like Daejeon, Suwon, Bucheon, and Gwangju. The basic monthly salary is now about 2.1 million for hagwons, and I'm sure cost of living has increased (it sure has here in the U.S.). Also, how does tax, pension contributions, and healthcare deductions factor into salary? |
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jvalmer
Joined: 06 Jun 2003
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| Posted: Mon Nov 12, 2012 5:32 pm Post subject: |
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1.2 million/month if you drink and eat out for dinner everyday. Take out the drinking and eating out to maybe twice a week that number could be cut down to 800,000.
Also depends if are in a major city and if you need travel there. |
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wandrousmuse
Joined: 27 Feb 2012
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| Posted: Tue Nov 13, 2012 5:45 pm Post subject: |
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| jvalmer wrote: |
1.2 million/month if you drink and eat out for dinner everyday. Take out the drinking and eating out to maybe twice a week that number could be cut down to 800,000.
Also depends if are in a major city and if you need travel there. |
Thanks jvalmer. Does that include insurance, utilities, tax, pension contributions, etc.? Do you consider Daejeon to be an expensive major city? |
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jvalmer
Joined: 06 Jun 2003
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| Posted: Wed Nov 14, 2012 6:01 pm Post subject: |
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| wandrousmuse wrote: |
| jvalmer wrote: |
1.2 million/month if you drink and eat out for dinner everyday. Take out the drinking and eating out to maybe twice a week that number could be cut down to 800,000.
Also depends if are in a major city and if you need travel there. |
Thanks jvalmer. Does that include insurance, utilities, tax, pension contributions, etc.? Do you consider Daejeon to be an expensive major city? |
Includes taxes and bills. Also, no car. But then again, everyone has different expectations of what they consider 'normal' spending and 'minimum' standard of living. Don't know if you grew up in a card board shack, or some mansion with golden spoons... |
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wandrousmuse
Joined: 27 Feb 2012
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| Posted: Wed Nov 14, 2012 10:36 pm Post subject: |
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| jvalmer wrote: |
| wandrousmuse wrote: |
| jvalmer wrote: |
1.2 million/month if you drink and eat out for dinner everyday. Take out the drinking and eating out to maybe twice a week that number could be cut down to 800,000.
Also depends if are in a major city and if you need travel there. |
Thanks jvalmer. Does that include insurance, utilities, tax, pension contributions, etc.? Do you consider Daejeon to be an expensive major city? |
Includes taxes and bills. Also, no car. But then again, everyone has different expectations of what they consider 'normal' spending and 'minimum' standard of living. Don't know if you grew up in a card board shack, or some mansion with golden spoons... |
Lol, I get it. This seems pretty reasonable, and I really appreciate your input. |
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chrisbacke
Joined: 09 Jan 2008
Location: Seoul and Bangkok
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