While Spain was calling my name when I simultaneously applied for the Korean and Spanish government programs, I'm glad that I ended up choosing Korea as my first destination to be a Guest English Teacher. Unlike the majority of the programs in Europe and South America, the Korean government has a pretty legit set up for us here. Not only do we get paid more overall (including a nice year-end bonus), but our housing is taken care of and, pending contract completion, our flights to/from Korea are paid for as well. My expenses have leveled off over the past few months, so I felt the need to post my numbers to share with others and to keep a certain level of accountability with myself. Feel free to comment on how much I'm wasting on soju.
Income: 2,000,000 won
Income generally ranges from 1.8-2.2 million won (not including any overtime), with 100,000-200,000 won coming out for lunch, insurance, etc. by your school. Yes, schools provide delicious, authentic Korean lunches for about 3,000/day. I'm paid 2.1 million won with no overtime. I know, it's weird that my ridiculously short hours don't have some overtime pay thrown in there for good measure! After the above expenses are taken out, I have a little less than 2 million won to play with each month.
Expenses: 685,000-885,000 won
Note: I also bought a gym pass for 210,000/3 months that I don't plan on renewing at the end of July. Damn those cute trainers who sucked me in!
Smart phone (unlimited data ftw): 80,000
Utilities (A/C, heater and electricity): 20,000
Food (Groceries are 70,000/week if you buy fruits/veggies and the occasional pastry; eating out ranges from 2,500-15,000/meal): 325,000
Bi-weekly coffee shop dates (4-5,000/drink): 10,000
Bus pass (to/from school): 50,000
Social outings: 200,000-400,000 -- This is the reason why the numbers above mean little to nothing regarding your overall savings each month. It can be as little as 20,000/month (meaning that you get a coffee and stay in your hometown every weekend) to 300,000/weekend if you decide to go to Seoul. On an average weekend of going to Daegu, Busan, Pohang, etc., it's reasonable to spend 100,000/night, which is why I burned through my income so quickly during the first couple of months. However, we're now traveling less often, but still going out in our own hometowns, which decreases the number significantly. I'm feeling more responsible already!
Moral of the story is that it's rather easy to save over $10,000 by the end of a contract. And this includes summer (Philippines!) and winter (Australia!) vacations. Unfortunately for me, all this post made me do was realize how much more I could and should be saving. For grad school, to take a teaching position in a desirable country with minimal pay for a certain football tournament (cough Brazil 2014) or, if I'm feeling really brazen, a Roth IRA. And now that I'm thinking about it, I should really hide this post from my mother...
xo
The REAL moral is not that you spend too much but that you make too little! I hear Saudi Arabia some pretty nice paychecks!
ReplyDeleteIt might be a little of both! Saudi Arabia, huh? Isn't that where they just made the decision (you know, in the year 2012) that they will permit female athletes to compete in the Olympics? Hmm and I suppose I'll have to track down a male guardian to allow me to work...want to volunteer?
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