Living On $24K A Year In Seoul, South Korea | Millennial Money

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CNBC Make It

CNBC Make It

2 жыл бұрын

Michaela Cricchio, 26 years old, lives in Seoul, South Korea and earns $24,000 a year as an English teacher. After graduating college, Michaela joined the cruise ship industry to pay for all the expenses associated with moving abroad. She is now in her second year teaching in South Korea, and has plans of becoming a digital nomad.
This is an installment of CNBC Make It's Millennial Money series, which profiles people across the globe and details how they earn, spend and save their money.
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Living On $24K A Year In Seoul, South Korea | Millennial Money

Пікірлер: 886
@CNBCMakeIt
@CNBCMakeIt 2 жыл бұрын
What's your budget breakdown? We're looking for stories from all ages, not just millennials! Share your story with us for a chance to be featured in a future installment of Millennial Money: ​cnb.cx/32TYZ2K​
@abisek.e7636
@abisek.e7636 2 жыл бұрын
I'm in India, is that ok also?
@mannyluis7961
@mannyluis7961 2 жыл бұрын
I make $55k a year , 28 years old moved from LA to GA 2 years ago and just purchased my 2nd rental property. Getting closer and closer to financial freedom
@nielguaman9412
@nielguaman9412 2 жыл бұрын
Living in East Williamsburg Brooklyn witth a huge backyard & living room, 27 years old making $140k per year at a top e-comm business but paying $810 in rent! (4 bedroom appt $3600 total)
@anuragsrivastava007
@anuragsrivastava007 2 жыл бұрын
Please make a video on living on 5000 dollars a year in India
@smallscapital
@smallscapital 2 жыл бұрын
Kindly do a video featuring a day/forex trader.
@TransplantedLotus
@TransplantedLotus 2 жыл бұрын
Same here… I’m earning 24K a year as an English Teacher in Thailand. I’m renting a 3 bedroom townhouse and able to save 50% of my monthly salary. I travel around world for at least 2 months out of the year. Life is good.
@jrhalpin221
@jrhalpin221 2 жыл бұрын
Woahhhhh who do you work for?
@giuliacorsettiantonini5615
@giuliacorsettiantonini5615 2 жыл бұрын
I'd love to be able to do the same, but it is incredibly difficult to find the same opportunities as a non-native English speaker :(
@grayonthewater
@grayonthewater 2 жыл бұрын
Omg please tell us how to do this
@TransplantedLotus
@TransplantedLotus 2 жыл бұрын
@@giuliacorsettiantonini5615 In Thailand, they hire lots non-native English speakers as long as you have at least a bachelor degree in any field.
@TransplantedLotus
@TransplantedLotus 2 жыл бұрын
@@jrhalpin221 A little background… I’ve taught in South Korea for 4 years in a government school, 2 years in Singapore at a learning centre, and now I’m in Thailand and have worked in 3 different schools so far… international school.
@peppolicchiopappo7274
@peppolicchiopappo7274 2 жыл бұрын
Yes please start doing this around the world, we had enough ny and la episoded
@November441
@November441 2 жыл бұрын
For real! People making 6 figures, living in a high-rise, paying $4-5k for rent. It’s a typical story. Not interesting at all
@shraypuri4824
@shraypuri4824 2 жыл бұрын
@@November441 typical lol
@kathydelarosa1286
@kathydelarosa1286 2 жыл бұрын
yeah i live in ny but i want to see other places too
@erickdabandan76
@erickdabandan76 2 жыл бұрын
Yup. I’m from NYC and I’m tired of the NYC episodes
@MrCesar20018
@MrCesar20018 2 жыл бұрын
😂
@skylark8749
@skylark8749 2 жыл бұрын
Rent free. Car free. That helps massively
@maureenmurphy8196
@maureenmurphy8196 2 жыл бұрын
No US federal income tax on teh first $110,000 helps massively!
@jasonwill5949
@jasonwill5949 2 жыл бұрын
@@maureenmurphy8196 she still has to pay tax to korea though but it’s a bit lower
@betsywilliams3666
@betsywilliams3666 2 жыл бұрын
It sure is! I teach English in South Korea, and earn a little more than she did. I used the money to pay off all of my debt, save money and travel. Will be leaving to go to the US after 5 years of living in Korea.
@saynotop2w
@saynotop2w 2 жыл бұрын
Turns out metropolitan areas designed for public transportation and pedestrians in priority is cheaper to live, because, well, no need for a car.
@laurarenteria3430
@laurarenteria3430 Ай бұрын
hey that ryhmes!!
@PSYCHROCKS5
@PSYCHROCKS5 2 жыл бұрын
I love seeing different ways of life on here. Not everyone makes 260k and lives in LA/NYC, so this was so refreshing! Let's see more amazing people like Michaela
@dreesunc
@dreesunc 2 жыл бұрын
Yeeees, pls!
@lovelydae7455
@lovelydae7455 2 жыл бұрын
Just follow expat channels on here
@LuzVerr
@LuzVerr Жыл бұрын
this
@jasiah1313
@jasiah1313 Жыл бұрын
I live in Miami now and make 430k a year at 29 and I still feel I don’t make much. Miami is super expensive.
@vernon121
@vernon121 Жыл бұрын
@@jasiah1313 what do you do? 430k is extremely good.
@fobkingdingaling
@fobkingdingaling 2 жыл бұрын
The worst thing about teaching abroad is the coming back home and realizing how much you miss life abroad
@formoftherapy
@formoftherapy 2 жыл бұрын
Certain cost of living is incredibly low in Korea. You don’t pay taxes on most purchases, so if food is like $6 it’s JUST $6. There’s also no tipping, food trucks can give you a full meal for like $5 and convenience store food is actually good in Korea. So food alone can be pretty cheap. As she mentioned you most likely never need a car so no car payments or insurance. Then their health care system is nuts. I’ve had several procedures that would be five figures in the US but only a few grand or even several hundred dollars. Had one dental procedure quoted in the US to me at like several thousand when it all added up. I happened to be going to Korea in two months so I waited and the ENTIRE cost, was $70. There’s certainly limitations and inconveniences to living in Korea but I always loved these things.
@jiawai3988
@jiawai3988 2 жыл бұрын
Thanks for the insight, PD! :)
@Loulydollx3
@Loulydollx3 2 жыл бұрын
all taxes are already included in the price, so it s 6 dollars after tax. also living is seoul is so expensive and one of the most expensive cities in the world. Your comment is not only wrong. it s stupid. try 20 dollars for watermelon, 5 dollars for a small yogurt and milk and 2 dollars for one pack of ramen ONE pack.
@pianoonparade
@pianoonparade 2 жыл бұрын
I mean, that sounds like many other countries too. While some aspects might be better than the states, other aspects worse.
@asiantrick24
@asiantrick24 2 жыл бұрын
@@Loulydollx3 sit down and be quiet. You have no clue wtf you're talking about. Seoul cost of living is 75th in the world, and rent is sitting at 156th in the world. Definitely not the most expensive city. It's sitting below Minneapolis, MN in cost of living chart. I've live there for 5 years. Eating out in Seoul if you avoid the fancy restaurant are dirt cheap. Why would anyone cook when you can eat out at a cheaper price.
@rijae
@rijae 2 жыл бұрын
I think you understand things a bit wrong. We do pay tax when you buy any food or items. We only displays the total price. That is why if you see $6, it's $6 including tax. And things are cheaper for sure but it depends where you go, things will be pretty expensive or can be cheap. It's like you get what you pay for.
@lynneal7574
@lynneal7574 2 жыл бұрын
For those who didn’t get a chance to watch all the way through and are curious: you get free housing as an English teacher in Korea, so that’s a large reason why she’s able to live on 24k
@shielamariejara9087
@shielamariejara9087 2 жыл бұрын
So happy they are bringing this worldwide!!
@weeyakkawonga6243
@weeyakkawonga6243 2 жыл бұрын
YH, there is one about a lady in the UK.
@weeyakkawonga6243
@weeyakkawonga6243 2 жыл бұрын
YH, there is one about a lady in the UK.
@katlinmicheal8121
@katlinmicheal8121 2 жыл бұрын
That good I invest in real estate , and forex trading I can say forex trading have been lucrative monthly I get $140,000 as for real estate annually I get up to $1.3m is just about meeting the right people .thinking of starting a laundromat
@blakealik8819
@blakealik8819 2 жыл бұрын
Indeed meeting the right people too is another key may I know how do your trading . You trade by your self ?
@lindalily6924
@lindalily6924 2 жыл бұрын
Your blessed woman keep working hard
@katlinmicheal8121
@katlinmicheal8121 2 жыл бұрын
Cedwick I invest $40,000 to gain $140,000 monthly
@katlinmicheal8121
@katlinmicheal8121 2 жыл бұрын
no Blake I work with my contract trader Thomas Stuart mark
@katlinmicheal8121
@katlinmicheal8121 2 жыл бұрын
He have been hand my allocation for quite a while now
@evileyez504
@evileyez504 2 жыл бұрын
Finally another country. Let’s see Poland or France or Hong Kong or Brazil or Mexico.. I watch the Finland one over and over cause it’s like a dream
@stephaniecallejas7475
@stephaniecallejas7475 2 жыл бұрын
Let see Turkey
@zamansyed86
@zamansyed86 2 жыл бұрын
@@stephaniecallejas7475 I am considering Turkey from Australia as living in Turkey is so damm cheap compared to Australia .
@trung170801
@trung170801 2 жыл бұрын
Only so because you dont live there. The benefits are only for citizens. Making friends is tough bc of the culture. Its very depressing in the winter. Etc.
@stephaniecallejas7475
@stephaniecallejas7475 2 жыл бұрын
I live in the states and I am considering Turkey.
@Kcelloo
@Kcelloo 2 жыл бұрын
@@trung170801 If you mean Finland you are right that people should be prepared if they decide to come here. If somebody likes calm, quiet and well organised then I think they would love it here. Having basic rights like healthcare, long paid holidays, free schooling, safe and clean environment is a bonus but you have to love the country and culture first. Otherwise it will be miserable despite the bonuses.
@TravelingSoloLogs
@TravelingSoloLogs 2 жыл бұрын
It takes a lot of courage to move abroad by yourself. Much respect 😃
@AlanaBertozzi
@AlanaBertozzi 2 жыл бұрын
MASSIVE shout out to Michaela, I worked on a cruise ship too and taught English in south korea for three years, we need to talk Michaela!!!!!!!!!!!!!!!
@EmeraldGamingNewz
@EmeraldGamingNewz 2 жыл бұрын
This story brought tears to my eyes. I lived in worked in Asia (japan) teaching English last year for 2 years. I didn’t need a lot of money to be happy i just liked experiencing the different cultures. I saved i sought out new things, etc. Though one day I was mugged and almost killed there by another foreigner. It left me hospitalized. I had to come back to America. But after seeing this video it made me smile, remembering the joyous feeling of leaving your home and going to a country with a different language and culture, and full immersing your self in it.Hats off to you Michaela, hope you’re enjoying it out there!
@bobbab5759
@bobbab5759 2 жыл бұрын
That sounds awful. And exceedingly rare. It's like winning the lottery in a bad way. On the bright side, you are better off returning after a couple of years. It's not really a career. Great experience, but it's Groundhog's Day after the first year or so with extremely limited opportunity to move into another career.
@EmeraldGamingNewz
@EmeraldGamingNewz 2 жыл бұрын
@@bobbab5759 Yes, i have to remind myself what happened to me was a one in a million chance. there was nothing i could do about it. Also so tru, there are a lot of foreigners who stay there 5+ years, and are completely burnt out. I miss japan dearly, but I’m happy I’m home. I’m excited to go back and visit without having to work at all 😁
@igoro1451
@igoro1451 2 жыл бұрын
how did they do it? I want to avoid this
@552mustang
@552mustang 2 жыл бұрын
What race was the foreign attacker that assaulted you?
@EmeraldGamingNewz
@EmeraldGamingNewz 2 жыл бұрын
@@552mustang Brazilian
@AN-xs7dw
@AN-xs7dw 2 жыл бұрын
i really admire this girl. A lot of people are too comfortable where they live and their salary. They spend their whole lives in one place and thats actually pretty sad to me.
@GG-tf1tc
@GG-tf1tc 2 жыл бұрын
@@P.90.603 “most” but not all. I have friends that live in Europe and they moved out of the USA by choice. No financial reason at all.
@louish2037
@louish2037 6 ай бұрын
I can never understand how someone could be happy living in one place for their entire lives, must be very self-absorbed and close-minded, and eventually become oblivious as to the true reality of the world
@AN-xs7dw
@AN-xs7dw 6 ай бұрын
or just afraid of chance and the unknown in a different area and having to make new friends.@@louish2037
@brimmed
@brimmed 2 жыл бұрын
i knew she was an english teacher right away
@lovelydae7455
@lovelydae7455 2 жыл бұрын
🤣🤣🤣🤣
@te6686
@te6686 2 жыл бұрын
I love Seoul. I studied there in grad school. It's a great city and I was able to live pretty inexpensively and still have a great time.
@CA2SD
@CA2SD 2 жыл бұрын
Everyone needs to travel. It will open up both your mind and heart. The fact you can walk around at night there without having to worry is an amazing feeling.
@wds3222
@wds3222 2 жыл бұрын
You think SK is safe? Come to Taiwan and you will see whats up.
@STOPMOTIONMANIA1000
@STOPMOTIONMANIA1000 2 жыл бұрын
I don't enjoy travelling and find it's a waste of my money (I live on a tight budget). It's also not good for the environment..so no, not everyone needs to travel.
@daebak7370
@daebak7370 2 жыл бұрын
This is what you get when you have a conservative culture.
@ShanTalks-Podcast
@ShanTalks-Podcast 2 жыл бұрын
I want to go back so bad. I miss Korea, I miss the food. It was so peaceful.
@xoxo9972
@xoxo9972 2 жыл бұрын
How was your experience being a black woman in Korea? I’m debating on visiting there.
@milesbarksdale2446
@milesbarksdale2446 2 жыл бұрын
how is life in korea while black? I'm a black male and I'm curious if there is as much racism or discrimination in Korea as there is in the USA.
@skillfuldabest
@skillfuldabest 2 жыл бұрын
@@milesbarksdale2446 Asia is way more racist
@tae-whankim9821
@tae-whankim9821 2 жыл бұрын
@@milesbarksdale2446 There is racism, but its not like the hostile one in US. No our police wont shoot you for your skin color. However Korea is the worlds MOST homogenous country. People might stare (outside of Seoul) because they probably never seen a Non-Korean in their entire life. You are most likely the first person they ever saw. 50% racism due to curiosity. Now the older generation who grew up watching Fox news and LA riots will have a certain image. but as long as you stick with the younger generation you should be good.
@sanelephants
@sanelephants 2 жыл бұрын
If you want to get more pay and better life, you should come to India. India is better than little country South Korea.
@organizedchaos4559
@organizedchaos4559 2 жыл бұрын
Thank you for being back the old versions of millennial money
@trex1448
@trex1448 2 жыл бұрын
She's not paying rent and no car. That's a huge saving.
@organizedchaos4559
@organizedchaos4559 2 жыл бұрын
@@NathanAponte no she doesnt
@giancarlopineiro1294
@giancarlopineiro1294 2 жыл бұрын
@@kushal4956 650 of that is saving. So not really spending 1740.
@foreverbeauty4141
@foreverbeauty4141 2 жыл бұрын
@@kushal4956 She save $650 and pay $100 toward her debt per month.
@Tomasthe1st
@Tomasthe1st 2 жыл бұрын
I taught abroad as an English teacher too. It's a lot of fun and gives a lot of experience about the world outside the U.S.
@tristanrodenhauser5267
@tristanrodenhauser5267 2 жыл бұрын
15k in loans isn’t a amount you should say …oh I can’t pay this off, it will be with me forever
@maxwell2703
@maxwell2703 2 жыл бұрын
Trust me when I say you can pay back the loan
@kevinhyun1600
@kevinhyun1600 2 жыл бұрын
@@maxwell2703 I think that's what he's saying too
@bakarit08
@bakarit08 2 жыл бұрын
Michaela!!! So glad to see you're doing well! I ran across an old video from the gym of us dancing recently! Keep up the great work girl!
@dancinmama1986
@dancinmama1986 2 жыл бұрын
I taught English in Korea for six years and had a ball! Income was low but the lack of major expenses like rent, etc, gave me the ability to pay a lot on my student loans while still traveling and enjoying my life. If I was smarter at the time, I would have been more frugal (pay off loans totally and invest) since the money came so easy. I did get a nice lump sum from my pension when I left which set me up well upon my return to the States. I HIGHLY recommend, if you have the opportunity and desire to go, to JUST DO IT!
@bcasa3376
@bcasa3376 2 жыл бұрын
This is so crazy I actually use to teach and live in South Korea too and at the age of 26 like her! Lately I have been thinking about my time in Korea because of how much happiness and joy it gave me. Now I’m 35 and in a big career/transition crisis. I wonder what would have happened had I stayed overseas for a few years but with my mom being so overprotective and living in her own bubble I had to go back home it’s good seeing people enjoy experiences like this sometimes there just isn’t opportunity in your own background
@marlotomas
@marlotomas 2 жыл бұрын
South Korea is awesome. I hope you'll be able to pick up travelling again
@bcasa3376
@bcasa3376 2 жыл бұрын
@@marlotomas I hope too I take experiences like that traveling over owning a big home any day
@rodriguezchen
@rodriguezchen 2 жыл бұрын
Nice thanks for sharing your experience
@anubistiger
@anubistiger 2 жыл бұрын
I did the same thing too! Taught in Korea for two years after college. It was fun living there... Made great friends. Wish I could go back and have the same friends still there.
@bcasa3376
@bcasa3376 2 жыл бұрын
@@anubistiger same here wish I could go back. My mom is now passed away so I have to take care of my father
@goodenergi
@goodenergi 2 жыл бұрын
so glad you brought this international. we see so much of la, nyc, san francisco .. people need to see how life abroad can be.
@Onetwo-rr9kd
@Onetwo-rr9kd 2 жыл бұрын
Thank you for bringing back this version of millenial money and show us people with a ''normal'' salary! it's very nice, because we can relate to them
@andrealaurenpegollo9873
@andrealaurenpegollo9873 2 жыл бұрын
I was an english teacher for young korean kids and college level adults right off college back home in the Philippines and to this day its still the best job ive ever had in my entire 31 yr old life. Been thinking back and forth if I should go back to it, Im now living in Canada as a nurse but still feel empty. This video makes me wanna go and actually think of being an english teacher again seriously :)
@ohmingfeng9351
@ohmingfeng9351 2 жыл бұрын
Quickly quit your job and gooooo
@KomicKing
@KomicKing 2 жыл бұрын
What you probably miss is being young and carefree. Make sure you know what you are seeking before you make an expensive move.
@aliali-ce3yf
@aliali-ce3yf 2 жыл бұрын
teaching english overseas definitely seems more for people in their early 20s.........there is a high turnover rate for a reason
@betsywilliams3666
@betsywilliams3666 2 жыл бұрын
@@aliali-ce3yf Not necessarily I came over to Korea when I was in my early 30s. And I am going to be heading home to the US in my late 30s. But I do agree about the high turn over rate. I did't live in Seoul, so I found it difficult to meet people and have meaningful friendships.
@TheDanaYiShow
@TheDanaYiShow 2 жыл бұрын
oooo love that this series is going international, would love to see more!
@DojKim
@DojKim 2 жыл бұрын
respect her courage living aborad with low salary, and being open to talking about it to share her experiences.
@Mr2Reviews
@Mr2Reviews 2 жыл бұрын
I'm Korean American and I've been living in Korea for over 8 years now. I'm originally from LA so the cost of living in Korea feels cheap to me. I make about $27,000 per year.
@winmeaphone
@winmeaphone 2 жыл бұрын
May I ask what you do? I’m a Korean American myself and looking to live in Korea soon
@Mr2Reviews
@Mr2Reviews 2 жыл бұрын
@@winmeaphone I work at a gaming company.
@ivak8988
@ivak8988 2 жыл бұрын
@@Mr2Reviews is 27k enough to live in korea?
@jg1514
@jg1514 2 жыл бұрын
Also Korean-American working for a gaming company, making twice her income. I'm able to rent a 3 bedroom apartment by myself, and save a good amount as well. Living expenses are so much cheaper than stateside
@AlexSchwartzATV
@AlexSchwartzATV 2 жыл бұрын
How do you like living there VS LA?
@MoneyMalayalam
@MoneyMalayalam 2 жыл бұрын
🥰🥰🥰
@seasonli1653
@seasonli1653 2 жыл бұрын
Please do more international episodes! It's so fascinating to see how others around the globe budget and live!
@AlexSchwartzATV
@AlexSchwartzATV 2 жыл бұрын
I laughed so hard when i saw $73 for health insurance. If it was that cheap in America I'd have it right now.
@janedoll3237
@janedoll3237 2 жыл бұрын
Did you start crying afterwards? Hate healthcare here
@FinancialShinanigan
@FinancialShinanigan 2 жыл бұрын
My time to shine: 1. Definitely don't need a car, get monthly pass that works on subways and buses. 2. Korea has brutal work hours (I also worked at Hakwon/cram school where I was required to come in every other Saturday to do additional tutoring for kids who got A-) 3. Definitely don't miss those apartments where you shower where you pee, do laundry where you cook, hang clothes up because there's no dryer and mold starts to form unless you open windows even during winter. 4. Lots of foreigners work in Korea, check out Itaewon if you're ever feeling homesick. 5. Buy fruits from grandmas selling on the street, cheaper and if you're nice n buy frequently, they give extra. 6. Don't think of buying beef unless you're willing to pay $4 an oz. 7. Enjoy the super fast internet and cry when you go back to your home country. 8. Teach English on the side (I put up flyers in public libraries and taught conversation english to adults, charging $50 an hour) 9. Even if you don't go to teach English, definitely visit Korea. Whether you want to ball out or go on a budget, there's so many good, places, and experiences you can find. 10. Yes, North Korea is right there but everyone just lives their lives without a care of what the crazy fat guy does.
@WhatIsThis-zq4hk
@WhatIsThis-zq4hk 2 жыл бұрын
Friendly reminder to people reading: teaching on the side with an E2 visa is illegal
@Je.rone_
@Je.rone_ 2 жыл бұрын
Yup
@ED-ie3et
@ED-ie3et 2 жыл бұрын
Why is produce so expensive though? Import costs?
@hyewoncho3361
@hyewoncho3361 2 жыл бұрын
@@ED-ie3et I think it's because of inefficiency of supply chain and small economy of scale
@MrTmenzo
@MrTmenzo 2 жыл бұрын
Can you cross the north to get a pizza like jacka parker does huehue
@danielhea728
@danielhea728 2 жыл бұрын
Don't get this wrong. 24k annual salary in Seoul will be considered "low" "real low" income
@won1853
@won1853 2 жыл бұрын
It's not super high but it's not super low either. The legal minimum wage is 8720 KRW/hour in South Korea which translates to about 2.2 million KRW a year. That's 19k USD / year. This English teacher is getting 5k more than that AND doesn't have to pay rent because the school pays it for her. She's better off than most 26 year olds in Seoul.
@AlexSchwartzATV
@AlexSchwartzATV 2 жыл бұрын
Yeah its the rent free that makes up for that i imagine
@sarabera325
@sarabera325 2 жыл бұрын
I agree with Daniel. The portrayal is so skewed it's almost laughable. I thought the title said $240K.😂
@saang
@saang 2 жыл бұрын
Yep... considering that most conglomerate jobs start at around 50k now for 1st years.
@won1853
@won1853 2 жыл бұрын
@@saang Not true at all. According to data from March 2021, the average starting wage for college educated employees at large Korean conglomerates was 41,210,000 KRW (35,772 USD). The average starting wage for medium or small sized companies was 27,930,000 KRW (24,244 USD). This is all before taxes btw and the housing prices in Seoul is one of the craziest in the world so she's definitely making way more than the average Korean 26 y.o.
@cakkidi007
@cakkidi007 2 жыл бұрын
I am assuming she’s a US citizen. And if that is the case, then she doesn’t have to pay any federal or state income tax on the first $105,000 that she makes. There’s a special tax law that allows for US citizens who are working abroad to have their tax exempt as long as they pass the physical presence test. She may need to file for a tax extension. Not bad.
@isisathena5237
@isisathena5237 2 жыл бұрын
Yup don't have to pay US taxes.
@atari1001
@atari1001 2 жыл бұрын
Still need to pay local taxes though...
@jasonwill5949
@jasonwill5949 2 жыл бұрын
She needs to pay tax to Korea
@raburipanda
@raburipanda 2 жыл бұрын
I also lived in Korea and filed taxes but did not pay taxes because I didn't have American income. I paid Korean taxes.
@ferddoesweirdthingsinlife1040
@ferddoesweirdthingsinlife1040 2 жыл бұрын
@@isisathena5237 yes you do. America has this thing where you have to pay US taxes no matter where you are in the world,
@JDelta87
@JDelta87 2 жыл бұрын
Nice! Millennial Money outside the US again. I'm glad she was able to take a chance and teach abroad before talking herself out of it.
@FinancialShinanigan
@FinancialShinanigan 2 жыл бұрын
She has such a carefree seoul.
@Je.rone_
@Je.rone_ 2 жыл бұрын
That was actually really clever and funny.... clunny 😁
@dreesunc
@dreesunc 2 жыл бұрын
Oh geez 😁
@hojaeyun6747
@hojaeyun6747 2 жыл бұрын
Lmfao yeah but it"s not worth teaching in Korea esp with that much u make.
@hannanordstrom6
@hannanordstrom6 2 жыл бұрын
yesssss, i love seeing them in different parts of the world
@suniloneal34
@suniloneal34 2 жыл бұрын
I did this for 4 years. Was amazing.
@ndem658
@ndem658 2 жыл бұрын
Love we get to seeing perspectives from different countries.
@skybluegirl878
@skybluegirl878 2 жыл бұрын
So glad you guys uploaded this video. Seriously contemplating on moving to Seoul to teach English. Interesting to hear her perspective and will probably reference this video once more.
@jbstravels1741
@jbstravels1741 2 жыл бұрын
So good to see these kinds of videos but with people who are abroad. Very refreshing to say the least. Great work!
@alejandro3485
@alejandro3485 2 жыл бұрын
$35 on a weekend…..that’s two drinks in NY.
@AccidentalAlexia
@AccidentalAlexia 2 жыл бұрын
No drink, if the guys find you attractive lol
@quicksandx54
@quicksandx54 2 жыл бұрын
Or 10 bottles of Soju!..
@trevorkim
@trevorkim 2 жыл бұрын
Well it’s about three drinks in Seoul too if you want cocktails at a cheaper part of Seoul. Depends what and where you drink.
@vegasunni
@vegasunni 2 жыл бұрын
She is super frugal. I am Korean and I don't know how she does it. A lunch and a coffee after that would be $35.
@joy.diaries
@joy.diaries 2 жыл бұрын
Yes 35$$$ is true...... This is not about being frugal. Well, a typical weekend for a foreigner(like us) who doesn't really have a lot of friends and just hanging out around 'SEOUL'. Subway/bus costs( back and forth depends on your area) maybe-$10,starbucks coffee $6, food breakfast $3(kimbab/rolling rice),lunch $6-8(bibimbab/stew/soup) dinner$8(burger set) or just eat at home for dinner. i am already enjoying the view/sceneries, window shopping(sometimes i buy a $5 t-shirt on sale in UNIQLO and attended a korean free classes and that would be a bit productive day😅 and enough for spending Saturday/Sunday outside your house.
@sssoeee
@sssoeee 2 жыл бұрын
omg I’ve never thought I’m gonna see someone who lives in Korea on this channel. Good surprise! :p
@nottolearnbuttouse
@nottolearnbuttouse 2 жыл бұрын
저도요 ㅋㅋ
@hyewoncho3361
@hyewoncho3361 2 жыл бұрын
Me, too 😆
@truthhurts7045
@truthhurts7045 2 жыл бұрын
Yes
@happylife7542
@happylife7542 2 жыл бұрын
Personally I would pay more towards the student loan. It’s a loan that will follow you forever. TBH 15k really isn’t much, she can do it in about 2 years, then more money to invest. Well that is my 2 cents lol.
@EagleEyedSheLion
@EagleEyedSheLion 2 жыл бұрын
agreed, less investments more getting that loan out of the way
@jorge3234
@jorge3234 2 жыл бұрын
I would agree but with student loan the interest rates are usually really really low. So unless she’s planning on buying a house (with 24k income I doubt she could) or a car (which she said she doesn’t need) there’s no real reason to pay it off soon unless her interest rate is crazy high.
@dailyupdates2960
@dailyupdates2960 2 жыл бұрын
Loved this video, I’ve been teaching in Korea for 4 years myself and I love the country.
@MoorishBrooklyn
@MoorishBrooklyn 2 жыл бұрын
She is very brave and very motivating in my own move and travel ambitions. Even more so she is living her dreams and goals.
@ruttatata2023
@ruttatata2023 2 жыл бұрын
Rent free perk in Seoul would be a dream job. Rent is extremely expensive in decent quality neighborhood in Seoul. If rent wasnt free, she would either live in a really small studio or go bankrupt in months.
@tonystark6173
@tonystark6173 2 жыл бұрын
How much is a small studio in Manhattan or LA or SF in a safe high quality neighborhood? You would be struggling in those cities even if you made a 100k a year….
@WyattCieluch
@WyattCieluch 2 жыл бұрын
You have to remember that free housing is factored into her pay. They would have to pay more if they didn't provide housing.
@Jessica-ni3nh
@Jessica-ni3nh 2 жыл бұрын
Wishing her all the best - what a lovely lady! Enjoy your adventures.
@garyish
@garyish 2 жыл бұрын
These make it ones are always nice. Btw, $24k a year is somewhat misleading. Her organization is covering her rent which is at least $20k a year. She’s making the equivalent of $40-$50k a year which is doable for a decent living even in the US.
@garyish
@garyish 2 жыл бұрын
@@aama123ful Actually a few years ago, after graduating college I was making $35k a year and renting a studio in Miami for $900, so I d argue it’s doable. Not ideal but doable.
@haute03
@haute03 2 жыл бұрын
@@garyish Agreed. Definitely doable, but not ideal.
@jasonwill5949
@jasonwill5949 2 жыл бұрын
@@aama123ful you also have to consider it’s after tax and Korea rent depends how much deposit you give
@adradaadrad326
@adradaadrad326 2 жыл бұрын
@@aama123ful i live in chicago and 34k is super doable
@TheMasterhomaster
@TheMasterhomaster 2 жыл бұрын
@@adradaadrad326 how many roommates do you have? 4?
@goodenergi
@goodenergi 2 жыл бұрын
woooowww I wanted to do an episode abroad like this!! im a full time traveler and id love to be on millenial money!
@laina-brown
@laina-brown 2 жыл бұрын
This is a way to house hack! So cool that she gets to travel and live in another country and have low expenses.
@khill704
@khill704 2 жыл бұрын
Love this! Recommending doing a van life person who is working full time
@khill704
@khill704 2 жыл бұрын
@@imonim7775 sweet thanks!!
@gold9ja
@gold9ja 2 жыл бұрын
Kudos 👍🏾👏🏾 Michaela, she is on the right track. I’m glad she is saving towards her Roth IRA and it’s easier for her with her annual pay since she doesn’t have to pay for rent and a car.
@shannon.harperrr
@shannon.harperrr 2 жыл бұрын
I work with her! She’s awesome and she’s got it totally right! I love living here and it’s a great way to save and see the world!
@dhgemein2
@dhgemein2 2 жыл бұрын
This story shows that what you keep matters more than what you earn. $24,000/year doesn't sound like much, but she saves $550 a month. I know people who make double, triple, and quadruple what she makes and don't save the same monthly amount. They're living larger in the present but in the long run they'll be no better off.
@cecitanae3201
@cecitanae3201 2 жыл бұрын
This was a really dope segment. I think this girl has the right mindset and heart. There were just so many meaningful things she mentioned that really made me think differently.
@DailyMeditation365
@DailyMeditation365 2 жыл бұрын
Sad to see that salaries haven't changed in almost 20 years. Teach private lessons like I did. I was saving $3k a month and had over $60k in the bank in two years. You should be able to charge 5만원 at a minimum per hour.
@jimmycheon376
@jimmycheon376 2 жыл бұрын
The $73 per month for health insurance is a game changer.
@betsywilliams3666
@betsywilliams3666 2 жыл бұрын
It's great! I also live in Korea and for the past 5 years have gotten overall great medical care.
@MeanBodyMami
@MeanBodyMami 2 жыл бұрын
I am currently living in Korea and she's right about the Doritos being sweet. In fact, the Korean versions of most salty western snacks or foods are laced with sugar here. I bought a garlic cheese bread that literally ended up tasting like sugary garlic cake lol. After living here for a little over a year I still can't get used to it lol
@multifxinc2561
@multifxinc2561 2 жыл бұрын
you can find that on this KZbin channel kzbin.info/door/4K3CkitduOuLawzfqLTsaQ
@goldiea8598
@goldiea8598 2 жыл бұрын
I moved from Canada to Seoul in May and it seems cheaper to live here so far.
@ezewong290
@ezewong290 2 жыл бұрын
I taught in South Korea for 5 years and am back in the US. Let me tell you, I saved aproximately 20k every year either in Korea as a English Teach peon 30k or making mid 6 figure in the US. Costs in the US are insane. Healthcare, Car insurance, Food costs, Rent, tax.... everything all adds up and all that said, the lifestyle in Korea was way better. If I weren't married and have obligations I would go back in a heartbeat.
@skylinec83
@skylinec83 2 жыл бұрын
Seoul is a beautiful city and Korea overall is an amazing place. But Seoul can be EXPENSIVE. Between the ‘business room’ clubs, korean BBQ’s, Gangnam/Shinsigae shopping, and dining/bars at Iteawon…. $35 might be enough for just the uber ride during peak hours to the starting point. And then if you do the extracurricular activities late at night… Oh wait I’m rambling. Good job on saving half your salary!
@skylinec83
@skylinec83 2 жыл бұрын
@@mj405 Paris Baguette is delicious. It's not cheap but it's a far cry from being a ripoff.
@travel9two557
@travel9two557 2 жыл бұрын
Seoul South Korea is an excellent place to move abroad too and work. That city had it ALL! very fun place. Looks like she’s managing well and seems genuinely satisfied/happy.
@johnholst
@johnholst 2 жыл бұрын
Seoul really is a world class city. Love it!
@liferdog3697
@liferdog3697 2 жыл бұрын
Good for you Kay, your family and friends are amazed by your resilience and commitment to do what you always wanted to do. There are not to many people in this world who get to live out their childhood dream. Keep calm and travel on!
@TitusBogba
@TitusBogba 2 жыл бұрын
Big up to you sis ❤️❤️ .. I respect your prospective 👌🏾
@alanbabu8465
@alanbabu8465 2 жыл бұрын
I really hope that Graham reacts to this episode!!!
@peggycricchio7410
@peggycricchio7410 2 жыл бұрын
Great job girl! Way to go!❤️
@Martina_E
@Martina_E 2 жыл бұрын
Great episode - more international episodes!
@yasiraarafat3314
@yasiraarafat3314 2 жыл бұрын
Brave soul. A small example of how to be proactive and take the charge of your lifestyle rather than just being complacent and reactive.
@EricPei
@EricPei 2 жыл бұрын
Wow under $100 for health insurance, love it!
@janellentim
@janellentim 2 жыл бұрын
Pay off your debt aggressively
@betsywilliams3666
@betsywilliams3666 2 жыл бұрын
I completely agree. That's what I did my first 4 years living in Korea, and I paid it off last summer even during the pandemic. Then for the last year I saved money. Also on top of severance, relocation money back to the US and pension, I saved a lot of money.
@user-fp4dr1ne7z
@user-fp4dr1ne7z 2 жыл бұрын
Good luck Michaela! This was a great interview :)
@10-OSwords
@10-OSwords 2 жыл бұрын
Curious how are the social security systems for retirement & the disabled in S. Korea right now, have seen horrific docs in the past where most elderly kill themselves as there is no social security. Wondering if that is improving.
@ryanjamesr_
@ryanjamesr_ 2 жыл бұрын
I work as an expat at an embassy in europe, and I feel the same way! I absolutely love the expat life
@junhyungshim4647
@junhyungshim4647 2 жыл бұрын
Props to her for making it work, but living on a $24,000 salary is near impossible in Seoul (if her rent was not covered)... Video might misinform notions of living costs
@skyestrachan4149
@skyestrachan4149 2 жыл бұрын
As a Bahamian teacher, I could totally relate to her. Especially when she said she only gets paid once a month. Our monthly salary is almost the same. I get paid more but after deductions it’s basically the same.
@merrychase9744
@merrychase9744 2 жыл бұрын
thanks to Graham, got to know this channel. Really cool vids!
@toniCbenn56
@toniCbenn56 2 жыл бұрын
As someone who was also an English teacher in South Korea, the western culture shock was REAL. One thing that's unfortunate though is that the English teachers at "hagwons" are underpaid and overworked. I'd never been so mentally and physically drained in my life until I started working out there. Imagine working consulting type hours for work study pay... Also if you're a POC, be prepared to possibly struggle to find a job worthy of your time. Best part of my experience was my sweet and adorable students. All of this to say, when choosing a country to teach English abroad, DO YOUR HOMEWORK.
@victorgom91
@victorgom91 2 жыл бұрын
Waiting for Graham’s new video, also happy to see that it’s not a person living in New York.
@aliali-ce3yf
@aliali-ce3yf 2 жыл бұрын
she seems happy so good for her, that's hard to achieve. to each their own, living a nomadic lifestyle wouldn't be for me, but she clearly enjoys it. to me, the main drawback would be the uncertainty looming of what happens if some emergency happens - doesn't seem to be a lot of wiggle room. plus your 20s are for making moves to set you up for later in life, but i guess if your life is going to be nomadic and travel is all that matters, teaching sounds pretty cool. the work culture of asian countries doesn't seem desirable though. if i had a safety net and wanted that life, i'd probably choose a country with a more relaxed work culture.
@isisathena5237
@isisathena5237 2 жыл бұрын
I live in South Korea too, and I was thinking recently, "You know it would be interesting for millennial money to make a video about people living abroad like me. Because you can save a lot more than you think." Also you don't need to pay that much for a tefl certificate becuase it's not checked by the ministry of labor or education. I paid $40 for a online tefl class.
@betsywilliams3666
@betsywilliams3666 2 жыл бұрын
As an older Millennial I was happy to see someone like me living and teaching in Korea.
@bobbab5759
@bobbab5759 2 жыл бұрын
Nice piece and very realistic with regard to ESL. It can be great fun and a great experience for a younger single person for a couple of years.
@whatelsewouldyoudo
@whatelsewouldyoudo 2 жыл бұрын
Seoul has one of the best transpo systems in the world so it's easy to get around.
@naughtytiger1444
@naughtytiger1444 2 жыл бұрын
She's such a sweet person. Please her heart.
@samXDpm
@samXDpm 2 жыл бұрын
When you make "more" than her but your paycheck is lower bc of taxes and health insurance 🙃
@katy3901
@katy3901 2 жыл бұрын
This is what I find mad. I live in Scotland, and although we have nationalised (free at point of use) healthcare (including prescriptions, visits, parking... basically everything), good pensions etc etc., I pay much less in tax than I would in the US, and less than a vast majority of people on millennial money. Part of that's because I'm currently relatively low income because I'm also a student, but for the base quality of life I get here I really don't see any negatives to our progressive tax system.
@DMTHOTH
@DMTHOTH 2 жыл бұрын
I am sure her '24k per year' deosn't include taxes. Income tax in south korea is higher than in the US.
@boostftw123
@boostftw123 2 жыл бұрын
AND RENT AND CAR INSURANCE. mind blown
@tessy28
@tessy28 2 жыл бұрын
When you compare yourself to others you get hurt.
@jsebby2284
@jsebby2284 2 жыл бұрын
@@katy3901 what do you make and what's your tax rate?
@JustinPacete
@JustinPacete 2 жыл бұрын
Glad to see this going worldwide too, But I'm surprised I didn't see this early. Just saw they posted this in July and I'm currently watching it in September !
@multifxinc2561
@multifxinc2561 2 жыл бұрын
you can find that on this KZbin channel kzbin.info/door/4K3CkitduOuLawzfqLTsaQ
@SaulOjeda
@SaulOjeda 2 жыл бұрын
this episode stressed me out, paying her $15k of debt should not be a lifelong process. But we're all different, so I hope things work out for her.
@Enrique-peralta
@Enrique-peralta 2 жыл бұрын
She has the choice to give up a few years to maximize paying down debt or making it a long process but enjoying those few extra dollars she gets to keep. She made her choice accept it for what it is
@soyou4217
@soyou4217 2 жыл бұрын
her interest rate on her student loan is probably lower than her investing. so i think it;s fine. i would say pay off the debt first before saving if it was her credit card. credit card interest is like 10-20%
@swicheroo1
@swicheroo1 2 жыл бұрын
Her student loans are supposed to be paid off in 3-4 years. How is that 'lifelong'?
@SaulOjeda
@SaulOjeda 2 жыл бұрын
@@swicheroo1 3-4 years? she has $15k in debt and only pays $100/month. Without interests it would take her almost 13 years, plus accrued interest, probably a few more years than that
@sonderexpeditions
@sonderexpeditions 2 жыл бұрын
She can pay that off in 2 years. There are blogs by teachers in south South Korea who showed how they paid off debt. One girl paid 50k in 3 years. Even coming back to the states its possible to pay that off in a year or 2 if she's privileged enough to live with family rent free
@ReginaScholey
@ReginaScholey 2 жыл бұрын
Wow I'm shocked I haven't seen this sooner. I'm also an English teacher in Korea and love this series. She's right - the Doritos are terrible!
@johnsain
@johnsain 2 жыл бұрын
I taught English there in 2001,...was there when 9/11 happened....School even asked me if I wanted time off,...I didn't. I loved the kids there so much. One of the great experiences of my life. Don't go there unless you're going to give 100%, because that's what the students will give you and your classes.
@vegasunni
@vegasunni 2 жыл бұрын
Well her employer pays her rent so her annual salary is technically above 24k.
@lovelydae7455
@lovelydae7455 2 жыл бұрын
And health insurance
@darlinspaces
@darlinspaces 2 жыл бұрын
I love saving money on commuting. I can remember having to spend so much traveling back and forth by car as a Teacher that it just wasn't making sense. Makes much more sense to spend nominal amount on transit when you are making this kind of income. She is doing a great job being responsible with these saving goals. Very inspiring for sure.
@long_fellow
@long_fellow 2 жыл бұрын
Seoul has one of the highest cost of living in the world. My friends in Seoul make $70-90k and they always tell me they are broke as hell. Not sure how she can sustain herself. Oh wait. Her teaching job provides housing. That's how.
@johnholst
@johnholst 2 жыл бұрын
Yes, it's true. Seoul CAN be VERY expensive. But it doesn't have to cost a fortune. Like you said, it's all about the housing! But also, how you like to eat!
@anubistiger
@anubistiger 2 жыл бұрын
What kind of job do they have? The average Korean doesn't even make that much. If they have a car, house, kids, I guess that makes sense.
@swicheroo1
@swicheroo1 2 жыл бұрын
Not true. First off: Few Koreans pay rent in Seoul (they offer a chunk of cash called 'key money' that is fully refunded after termination of lease). Second: No car (I have a 40K car in LA). Third: Nationalized insurance (I pay 400 dollars a month for mine). The reason why your well-paid friends feel like they're barely making it--and not saving--is because Seoul is a huge bandwagon culture. Everybody feels compelled to be copycats of trends and behaviors and fads. Even as a foreigner, married to a Korean, I observed this. If everybody in your income bracket is splashing out, you will feel the need to do that, too. It is a truly singular phenomenon that is unmatched.
@anubistiger
@anubistiger 2 жыл бұрын
@@swicheroo1 Yes! Koreans have one of the biggest debt problems, especially among the younger generation. Younger people also tend to live with their parents until they get married - which is in their 30s nowadays.
@connorbardine4072
@connorbardine4072 2 жыл бұрын
@@swicheroo1 Yes this is why. I actually broke with my Korean ex in part because she was bad with money.
@user-ps1tz7ld8f
@user-ps1tz7ld8f 2 жыл бұрын
I am Korean, I am living in Seoul. I love Seoul. I've lived here for about 16 years.but I cannot survive with $24K. $24 is low or too low income.
@SenashiaEkanayakeSeni
@SenashiaEkanayakeSeni 2 жыл бұрын
Just as Michaela speaks on Grammar we get an ad about Grammarly 😅
@anarajonasfleury5760
@anarajonasfleury5760 2 жыл бұрын
24k is actually pretty good! I lived in about half for 4 years as a kgsp student and did not fell deprive at all
@damioncurrier290
@damioncurrier290 2 жыл бұрын
@graham stephan time for your first international millennial money review!
@damioncurrier290
@damioncurrier290 2 жыл бұрын
love the vids btw!
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