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Symposium => "Open" Discussions => Topic started by: DutchDoll1988 on October 19, 2020, 01:18:23 pm

Title: Paying Expenses
Post by: DutchDoll1988 on October 19, 2020, 01:18:23 pm
Hello all. I have a question. I hear so many things about being able to save a good amount of money while teaching ESL in South Korea. Is that really possible? I like to go out but not much, like an introvert. Iím good at budgeting as well. Do your household bills get out of hand? I know the school pays the rent. Thanks for suggestions/opinions.
Title: Re: Paying Expenses
Post by: stoat on October 19, 2020, 01:30:03 pm
Things that cost a lot are going out to Western style restaurants, drinking non-Korea alcohol, travelling abroad (obviously) and buying non Korea food in restaurants. E.g. i bought a cauliflower last weekend that cost  over 6,000 won. I could have bough one of those Chinese radish things for 900.
Title: Re: Paying Expenses
Post by: CO2 on October 19, 2020, 01:35:15 pm
Things that cost a lot are going out to Western style restaurants, drinking non-Korea alcohol, travelling abroad (obviously) and buying non Korea food in restaurants.
Dimensia hit stoat at a young age.

jk, love you.
Title: Re: Paying Expenses
Post by: oglop on October 19, 2020, 01:38:09 pm
Things that cost a lot are going out to Western style restaurants, drinking non-Korea alcohol, travelling abroad (obviously) and buying non Korea food in restaurants. E.g. i bought a cauliflower last weekend that cost  over 6,000 won. I could have bough one of those Chinese radish things for 900.
those radishes are one of the worst foods ever. absolutely hate it that stuff
Title: Re: Paying Expenses
Post by: stoat on October 19, 2020, 01:40:00 pm
Dimensia hit stoat at a young age.

jk, love you.

'Dimensia'? You forget how to spell it?
Title: Re: Paying Expenses
Post by: CO2 on October 19, 2020, 01:40:53 pm
'Dimensia'? You forget how to spell it?
Nah, I'm trying to find the picture now. Some Trump PAC bought a billboard and accused Biden of having "dimensia."

hhahahaha

Got it.

(https://i.redd.it/47cvh0yd0kt51.jpg)
Title: Re: Paying Expenses
Post by: VanIslander on October 19, 2020, 02:25:48 pm
That is irony.
Title: Re: Paying Expenses
Post by: Mr C on October 19, 2020, 02:40:54 pm
That is irony.

I'm sure a certain someone will be along to explain it's a code, we don't get it because we're not supposed to and this backwards Trump PAC is playing 3-D chess while we barely understand checkers.

Meanwhile, to the OP

Without even working at it, you can probably save $500 a month, but if you are a careful shopper, don't eat out much, etc, you can save more.  Actually, I find the most annoying expense to be taxis.  Just choose spots close to the subway and/or discipline yourself to catch the last train ...
Title: Re: Paying Expenses
Post by: Kayos on October 19, 2020, 03:14:05 pm
I buy fresh meat, vegetables, and fruit - among other things every week, eat out at a western style restaurant once a week, pay all my bills and I think on average it only comes to about 800k won per month. As I'm on 3mil per month, before taxes, I find it pretty easy to save a decent amount each month here. May have been slightly higher the last couple of months, cause I'm been treating myself a bit more though.
Also, I'm a kiwi and the NZD and KRW exchange rate is pretty decent. Gotten slightly worse because of covid, but still pretty good for the most part.
Title: Re: Paying Expenses
Post by: Kyndo on October 20, 2020, 08:50:34 am
- Don't live in Seoul. Seoul sucks. People who choose to live in Seoul suck. (Fight me! :D )
- Buy a car (beats paying 50,000 won a week taking taxis to super rural schools with no nearby bus routes).
- Jeonse / buy your apartment (it will save you *tonnes* of money so long as you're planning on staying long term).
- Get married / move in with your SO / find a room mate / live in somebody else's home a la Parasite. Economies of scale make things so much cheaper.
- Avoid having children!


- Use a card for everything. At the end of the year, everything you buy on a card is tax deductible, and save you a few man won.
- Buy produce at farmer markets instead of supermarkets. Much cheaper (although you'll need to watch out for less than perfect produce!).
- Cancel your TV subscription. Most foreigners aren't aware that it's bundled in with your internet / maintenance fees. Phoning in can save
     you 2,500 won a month. Not much, but a single phone-call can save you 30,000 a year which isn't terrible.
- Buy Korean food / eat at Korean restaurants. Usually much cheaper than foreign foods! Make hitting up Vatos or whatever a special treat.
- Be patient and wait for exchange rates to work in your favour before sending money home! Send large amounts at a time rather than bit by bit
     in order to save on transaction fees. KEB has the best rates (I think? Can anybody confirm?)
Title: Re: Paying Expenses
Post by: 745sticky on October 20, 2020, 09:30:16 am
- Be patient and wait for exchange rates to work in your favour before sending money home! Send large amounts at a time rather than bit by bit
     in order to save on transaction fees. KEB has the best rates (I think? Can anybody confirm?)

If you have two citibank accounts (one KR one home country) you can transfer between them free of charge.
Title: Re: Paying Expenses
Post by: oglop on October 20, 2020, 10:51:55 am
using sentbe is cheaper than banks fyi