Sunday 13 November 2011

Hot Topic: Money's Not Important

Updated 2 December 2014

Looking at the base salary for a TESL or TEFL position can be depressing.  Money's become an issue all over the world, even in first world countries. Just take a look at We are the 99%.

There seem to be two schools of thought about money: those who care about it and those who don't.

Some people decide to head to Korea or the Middle East where the money is. Others don't care much about money and prefer to live well, like in China for example, where you might expect to earn about $600 a month. I'm not sure what those people will do when retirement rolls around though.

However, there are often added perks no matter if you go to the countries where you can make money or those where you can live well. Housing is often taken care of and that can save you a lot of money.  Free flights are often added as well. You might have chances to earn extra cash either at work by working online or at another job.  Not having to pay for a car, gas, car insurance, or health insurance can also help a lot.

Another thing to consider is the cost of living. Back home it might cost at least $25 to eat at a restaurant, but it another country it might only cost $2. Make a chart, add up the perks and subtract items you won't have to pay for like a car. You'll see that with a bit of budgeting you might not only live well, but be able to save too.

If you want to teach at a university in Korea, I'd definitely recommend Jackie Bolen's book, “How to Get a University Job in South Korea: The English Teaching Job of Your Dreams.” She wrote a couple of guest posts here at TEFL Tips, How to get the university job in Korea that you want and why I love working at a Korean university. She's been in Korea for over a decade and really knows her stuff. 

What do you think?
Is money more important to you than other things?  Or do you prefer to live well and don't care about saving?

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