Money is something that can seriously dictate people's lives. That being said, I can understand from an outsiders perspective how teaching abroad can seem like just a dream. I used to be the same way when I first learned about it. I thought, "How is someone just able to go support themselves in a foreign country with a job that doesn't even pay that much?" Once you start looking into it and doing the research, you come to realize it's actually not as difficult as it appears on the surface. Though, I will put a disclaimer to all of this and say that it completely depends on where you're teaching and what your plan is. These reasons can range from getting away from the 9-5 corporate world, wanting to get paid to travel the world, gaining professional experience, or paying off debts (like student loans). These are the factors that you really need to account for when making the decision to relocate. I will be talking from a financial standpoint on the main expenses. Remember as you are reading, it is all from my personal experience.
In one of my earlier posts, I talked about my journey to South Korea, and why I chose to come here. Asia happens to be one of the highest paying regions (other than Saudi Arabia and UAE) for English teachers. This is because the education system here (Japan, Korea, China) are very competitive. In South Korea, you can expect to earn between 2-2.3 million KRW ($1,500-$1,700 USD) per month. I know to people coming from The United States, that seems like nothing. But, Korea has a low cost of living which will leave you with more disposable income.
Living Accommodations:
In The United States, rent can take up a chunk of your paycheck. In Korea, my rent is paid for by the school so that makes my life 10x easier. Most schools do pay for your apartment, but if they don't, they will typically give you a housing allowance. Another thing I want to add is paying for utilities. While schools cover your rent, it is the teachers responsibility to cover the utilities. I grew up with never leaving lights on, not using heat/air con unless it was absolutely necessary. So I am glad my habits have remained the same. My bills for utilities and internet every month come out to 37,000 KRW ($31 USD).
Transportation:
The traffic in Asia is absolutely insane. After having been to Washington, D.C., Los Angeles, New York City, and Mexico City, I thought that I'd be accustomed to the cars, buses, and motorcycles (they drive like they're in Mario Kart). For me, having a car and drivers license is unnecessary so I use the public transportation. The bus and subway system here in Korea is so cheap! The most convenient part as a teacher, when you get your Korean bank account. The bank with give you a viva platinum card (MasterCard), which doubles as your transport card. The money is taken out the first of every month.A typical bus ride from where I live in Anjung, to Pyeongtaek City only costs roughly $1.50. The subway ride from Pyeongtaek City to Seoul is less than $4 traveling over an hour. I am typically making the trip to other cities every weekend. And my transportation cost averages out between 40,000-50,000 KRW a month ($30-$40 USD). That's basically the cost of filling your gas tank in the United States for one week.
Food:
My usual routine is to only go out to eat twice a week because it's healthier and cheaper. I did the same thing when I was living in the states. For grocery shopping in Korea, I stick to the Korean markets. The more "Westernized" grocery stores are hella expensive because everything is imported. Of course, it is a difficult shopping trip and takes me longer than usual. Mostly because I have to use my translator to figure out what I am buying. My groceries are usually cheaper than what I would be paying in the states. Weekly, I spend between 25,000-35,000 KRW ($23-$30 USD), and this lasts me the entire week. The only downside about Korea is fresh produce. A lot of times here, produce isn't in season or it has to be imported which drives up the cost. For example, a bag of 3 avocados cost $7 USD, strawberries $8-$9 USD. On the weekends, I go out to eat because I meet up with my friends, and we'll do a day trip somewhere. I gravitate towards Korean restaurants, whether it's the authentic ones or street food. That makes eating out here so cheap compared to restaurants in the states. You can get so much food here for under $10 most times. And street food here will cost you $4 or $5 at the most so it's a must for me. If you're missing a slice of home there are still Western *expensive* options available (Taco Bell, KFC, Burger King, McDonald's etc.).
Cell Phone Plan:
I highly recommend you get rid of your American plan before you come and teach here. The prices for an international plan are absurd in my opinion. When I came here, I had the Verizon international plan for about 3 weeks till I got my ARC (foreign residency card). I was paying about $10 a day to use my phone if there was no wifi available (luckily in Korea, wifi is everywhere and pretty reliable). I ended up getting a KT plan which is one of the biggest phone companies in the country. For my plan, I signed for a 1 year contract and pay month 68,000 won ($56) USD which includes an unlimited data plan.
Medical/Insurance/Pension:
This section are about things that must be included in your teaching contract. health insurance and pension are deducted from your salary. Going to the hospital here is so cheap that it's insane. Something like a simple checkup at the doctors only costs about 15,000 KRW ($12). For all my contact users out there, you can get a box of contacts for $10-$15 USD. Back home, I was paying over $100 for my insurance, and that didn't even include vision or dental! As for the pension, this as less to do with health, but more related to taxes and retirement. Yes, even though you are a temporary resident, you still have to pay into the pension system (similar to a 401k). But, as long as you're from America, South Africa, Australia, or New Zealand, you get this money back at the end of your contract! On a side note: if you're contract doesn't include pension, severance (money you get upon completing your contact), or health insurance, please run.
Going Out/Traveling:
And the final section is for all those random costs for going out or traveling (in Korea and abroad). For me, I go to Seoul every weekend so with all my activities (cafes, tourist attractions etc.) I budget a max of $40 USD. I know it seems like a lot, but in the grand scheme of things, it's really not. If you want to go partying in Korea, there is normally no cover charge at bars/clubs (unless you go to Gangnam). For the experience, I suggest partying Korean style at least once while you're here. Staying out till the sun comes up, then finishing it off by eating ramen at your local convenience store. You go pregame at a CU or GS25 (convenience stores) and buy bottles of Soju (please save your taste buds and buy the flavored ones, trust me). They only cost $2 and at 16%, they can hopefully get you buzzed. Most drinks aren't horribly expensive ($7-$10 USD), unless you buy imported liquor.
Because of my work schedule, I don't have all the time in the world to travel around Asia. Which is a bummer because traveling around this continent will never be this cheap for me. But, I do manage to make it work if I have a 3 day weekend or during my vacation. If you want to travel to other provinces throughout the country, KTX trains and buses cost about $30-40 USD to go to places like Boseong (green tea plantation) or Busan (known for the stunning beaches). If you want some island vibes and white sand beaches without leaving the country, you can opt for a trip to Jeju for $100+. If you do choose to go abroad, you can get a flight to Japan for $200, a flight to Singapore for $400, and most other countries stay in that price range.
As always, thank you for reading. While this post was purely informational for any curiosity as to how I afford living in Asia. I do hope it answers any frequently asked questions.
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