My Budget in Korea
So, I've been here for almost 5 months now. I've been able to save up a decent amount of money, but I never looked at how much I was able to save exactly until a few days ago. Here's the breakdown for 1 month:
Salary: 2.1 million won
Utilities: 30000 won
Apartment room: Paid For
Food/Parties: 300000 - 400000 won (varies)
Miscellaneous (garbage bags, detergent, soap, beer/luxuries, etc): 100000 won
Taxes: 100000 won
Health insurance: Free for 2 years
------------------------------------------------
Savings: ~ 1.5 million won (roughly $1300.00)
Indeed, this matches with my current savings in the bank. My goal before coming to Korea was to make enough money to wipe out my student loan at the end of my contract here. If I continue my lifestyle here and I can keep my budget like this for the next 8 months then I will be able to pay all of my student loan and have some money left over to start over somewhere else or buy a new notebook. Since this doesn't even include my pension or contract completion bonus, I'm pretty happy.
I'm so happy that I might even consider staying here for another year when my contract ends. I'd be hard pressed to be able to find something this good in the US. If I do stay for another year though, I'll probably try to get into a public school or a better private school. Most people have a horrible first year in Korea, and then move on to better contracts and working conditions. I'm pretty lucky to be at this private school for my first contract, but I know there are rosier bushes in this city. If I stay, I'll definitely want to go to the better schools.
That's about all I have to say for now. Till later!
Salary: 2.1 million won
Utilities: 30000 won
Apartment room: Paid For
Food/Parties: 300000 - 400000 won (varies)
Miscellaneous (garbage bags, detergent, soap, beer/luxuries, etc): 100000 won
Taxes: 100000 won
Health insurance: Free for 2 years
------------------------------------------------
Savings: ~ 1.5 million won (roughly $1300.00)
Indeed, this matches with my current savings in the bank. My goal before coming to Korea was to make enough money to wipe out my student loan at the end of my contract here. If I continue my lifestyle here and I can keep my budget like this for the next 8 months then I will be able to pay all of my student loan and have some money left over to start over somewhere else or buy a new notebook. Since this doesn't even include my pension or contract completion bonus, I'm pretty happy.
I'm so happy that I might even consider staying here for another year when my contract ends. I'd be hard pressed to be able to find something this good in the US. If I do stay for another year though, I'll probably try to get into a public school or a better private school. Most people have a horrible first year in Korea, and then move on to better contracts and working conditions. I'm pretty lucky to be at this private school for my first contract, but I know there are rosier bushes in this city. If I stay, I'll definitely want to go to the better schools.
That's about all I have to say for now. Till later!