Teaching Kimchi

If you travel more in weekends and eat in restaurants 5-10 times in a week, and also have horrible spending habits, then you might only save $200-$600 a month. Some people invest 340,000 won a month in the Korean equity markets. Some of the couples save over 5 mil a month and put 300,000 in one mutual fund, 500,000 in another and 150,000 for an education fund for their kids. They still have a lot of money to live a great lifestyle.

The average savings is about $1,000 a month. For some people it’s nothing, for others its 85 million won in two and half years. Nevertheless, how much you save depends on how much you spend. Some live on $500 per month including $250 for rent and bills and $200 for food and other stuffs. But a million won a month is very feasible. You can save up to $1500USD a month, just find a job for 2.3/2.6 (more hours of work will get you more money). Some people who are a total rookie save over 2,000 per month.

If you are getting 5.5 million won a month and your wife is making 3 million won a month you can easily save over 6 million a month and also you might have some higher expenses than others. Most of them make 2.1 mil and after bills are down to about 1.9 bills.

Source: Dave’s ESL Cafe Forums

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