Korean Job Discussion Forums

[Dev]

This subject deserves a thread. I've never been great at saving money because I am too much of an impulse shopper. However, I am trying to change.

I think giving yourself a "play money" budget is one step. Decide what percentage of your salary you will set aside for blowing on entertainment and stuff you don't really need. I am thinking right now about making mine 15%. The money saved will be the amount after utilities and food have been paid. What percentage of your salary do you spend on non-necessities?

I also want to ask people for tips to save money everyday.

One little trick that I do is to try to find creative ways to reuse plastic and glass food containers instead of throwing them into recycling. Some glass bottles can be reused as flower vases. Margarine containers can be reused as food containers. I have a plastic container that I now use as a pencil / pen holder on my desk. Mason jars which I get from the spaghetti sauce that I buy make good drinking glasses. I know these things aren't pretty, but isn't it great that I can just toss them into recycling when I am leaving Korea instead of thinking about the money I have paid for real dishes?

When I go shopping, I bring a thermos of coffee or tea. A few pieces of fruit in my bag. I try to avoid eating out because that can get expensive and is generally not healthy.

Please leave your money-saving tips on this thread.

[marcus]

Which spaghetti sauce do you buy?

[Dev]

[cypher]

I approach it from the other way, I put so much money away each month that I am not allowed to touch, except in case of emergency (real emergency, not 'I'm gonna die if I don't get those cute shoes'). The only time I don't put that money aside is if I have planned for a major purchase-a new computer, a trip. It's also good that I can't fit into a lot of the clothes here, so I don't shop as much. I make food more often than eat out or take out.

One thing I need to get a grip on is my icy coffee addiction. 5,000/day, even 3 days/week (usually more)...that's 60,000 won/month, over 700,000/year (probably more).

[Dev]

[quote="cypher"]I approach it from the other way, I put so much money away each month that I am not allowed to touch, except in case of emergency (real emergency, not 'I'm gonna die if I don't get those cute shoes'). The only time I don't put that money aside is if I have planned for a major purchase-a new computer, a trip. quote]

That's great if you can do it that way. However, that approach is like crash-dieting. Most people will snap and go on a shopping binge. In many ways, I think saving money and dieting have a lot of things in common. Neither of them are fun and people just love to eat that piece of cake or buy that new cool shirt. Like having a cheat day, I like to budget a little fun with every pay. Of couse, you don't have to spend the fun money every month. I am just saying that you allow some money to be used for that.

[Dan The Chainsawman]

I just make sure I bank about 700k on payday for savings and then pay my bills with the left over. Whatever is left has to last me the whole month or I will be most sorry. Thank god payday is coming up.....

[cypher]

I find the money I have left is plenty, even to splurge. I just can't do/buy everything I want, and sometimes I have to budget more as I get closer to the next payday. Of course, if I were back home, I would likely be broke all the time with nothing to save.

[JongnoGuru]

One of the first words I had to learn in Korean was "pawnshop".
Them was the days. *sniff*

[hairy sue]

how does anyone do anything?

[Yo!Chingo]

I always ask myself,"Do you really need that?!?" before I buy anything, and when I go out I usually bring a snack for myself and my hubby just in case we get hungry on little shopping trips.
There are lots of ways to save $$$ here. My favorite is to simply cook your own meals at home! You'de be amazed at how much $$$ you can save by simply cooking at home, and it's a really good thing to know. Another way I've found is to NOT live in Seoul. Everytime I go there I end up spending at least $50,000 won on food and cab rides. We're trying to only go 1-2 times per month!

[Harpeau]

[mdokupilkr]

Date a soilder. Then you can do your shopping on post for cheap. Dump em when you leave korea.

[ontheway]

I guess if you're dating a SOILder you would have to do your shopping on a COMPOST. Then dump 'em when you're ready - good idea, composting.



How to save money:

When you get paid, put most of your money into a time account at the bank. That money is now "spent." Now, the rest of the money is all you have to live on. Look at it, count it, live on it. Don't spend more. And cut up your credit cards if you can't control yourself.

[peemil]

Roll old people.

I thought that was common knowledge.

[elynnor]

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