Korea is becoming highly popular spot for many English speaking youngsters who are looking to get away from it all and teach English in a foreign country. For many years, post-grad students have been hitting the road for Asia and the Middle East in search of teaching jobs and whilst Korea is something of a new kid on the block, it has quickly become one of the most popular nations amongst these would-be teachers.

The reason for the popularity of Korea is the high salary which they offer throughout the country for English teachers and in the main, you could earn $2500 per month teaching English here. This gives you a great opportunity to pay off your student loans or any other personal debt which you may have, or alternatively you could put the money to one side and save up for a mortgage or any other purchase which you have in your mind. Th e question is then, how much can you realistically save if you choose to go and teach English in Korea. Let’s break down the costs.

Accommodation

You will almost always be put up in a shared house with other teachers during your time in Korea, regardless of where you are staying and given that the average cost of renting an apartment in Korea is $550 plus utility bills of around $160, that will be $710 which you will be able to save straight off the bat.

Food Costs

Naturally food costs will come down to what kind of food you eat and how you like to live. Most teachers will eat out once or twice per week, an average meal cost of $20, and go to the grocery store for a $40 shop each week. That means $80 each week on food, so $320 across the month.

Transport

The average price for a monthly pass in Korea on the metro system is $50 which will cover all of your journeys both into the school and should you decide to go out.

Traveling and Activities

Teachers in Korea have said that they would usually spend around $500 per month on going out, going traveling and enjoying activities, even at the lower end of $450 you can still get involved in a great amount of fun.

Additional

Taking an average response from this who have taught in Korea, they have said that between gym memberships, phone contracts, hair appointments and miscellaneous spending, they estimate that $100 is enough to cover this.

And so if we take the amount of spending each month, this comes to $920, let’s round it up to a thousand for good measure. This means that out of your salary which you make each month, you will be saving a whopping $1500 each month. This is exactly why so many people choose Korea as somewhere to teach because they can live a good life in a different country, and still go home with plenty of savings to start their life off right.

Does this figure make you want to go teach in Korea? Let us know what you think below.

 

Categories: Managing my money

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Posts

Managing my money

Culinary Christmas Gift Ideas

With December fast approaching it is time that many of us turned our thoughts to Christmas gifts and started to get an idea of what we are looking to buy our loved ones. As part Read more…

Managing my money

5 Money Saving tips as you travel

Most travelers will tell you that their biggest concern on the road is running out of money. Whist there are of course many ways in which you can make money on the road, either online Read more…