{"id":17730,"date":"2019-05-27T08:09:36","date_gmt":"2019-05-27T08:09:36","guid":{"rendered":"https:\/\/teanabroad.org\/?p=17730"},"modified":"2020-02-13T19:40:45","modified_gmt":"2020-02-13T19:40:45","slug":"how-to-budget-semester-in-seoul","status":"publish","type":"post","link":"https:\/\/teanabroad.org\/blog\/how-to-budget-semester-in-seoul\/","title":{"rendered":"How to Budget for a Semester in Seoul"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Let\u2019s talk money. One of the biggest things holding people back when they think about studying abroad is the cost. Studying abroad can be a lot more cost effective than you think, however, especially if you\u2019re able to proactively plan and manage your costs. Here\u2019s what you should budget for when <a href=\"https:\/\/teanabroad.org\/programs\/south-korea\/seoul\/\">studying abroad in Seoul<\/a>.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">LIVING COSTS WHILE ABROAD<\/span><\/h2>\n<h5><span style=\"font-weight: 400;\">Phone Plan <\/span><\/h5>\n<p><span style=\"font-weight: 400;\">Will you have a local phone number in South Korea or will you use your home network\u2019s coverage abroad? I went with my home coverage and, while it was not ideal, it was enough to get me by while I bounced from WiFi hotspot to hotspot. Alternatively, you can open a local phone plan once in Korea for around $40 and TEAN provides a free SIM card if you have an unlocked phone. <\/span><\/p>\n<h5><span style=\"font-weight: 400;\">Laundry <\/span><\/h5>\n<p><span style=\"font-weight: 400;\">Korea University\u2019s dorms have laundry machines which use cards that you reload with money. Each load of laundry is around $1 and then $1 for the dryer. To purchase the laundry card is another $1. It doesn\u2019t sound like much but can add up over time, so make sure to do your laundry efficiently!<\/span><\/p>\n<h5><span style=\"font-weight: 400;\">Meals <\/span><\/h5>\n<p><span style=\"font-weight: 400;\">Food is extremely inexpensive but very delicious and fresh. A meal can range from a $1 <\/span><i><span style=\"font-weight: 400;\">kimbap<\/span><\/i><span style=\"font-weight: 400;\"> (Korean sushi) from the convenience store, to a hearty $6 bowl of soft tofu stew from Korea University\u2019s cafeteria, to a $12 basket of fried chicken that can be shared with friends. While there are a range of price options, food will still take up a majority of your money, but if you can go out with a group of friends, splitting the tab can definitely ease the cost.<\/span><\/p>\n<figure id=\"attachment_17737\" aria-describedby=\"caption-attachment-17737\" style=\"width: 1000px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-17737\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/yH5BAEAAAAALAAAAAABAAEAAAIBRAA7\" data-src=\"https:\/\/teanabroad.org\/wp-content\/uploads\/2019\/05\/Fried-chicken-Korea.jpg\" alt=\"\" width=\"1000\" height=\"795\" \/><figcaption id=\"caption-attachment-17737\" class=\"wp-caption-text\"><noscript><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-17737\" src=\"https:\/\/teanabroad.org\/wp-content\/uploads\/2019\/05\/Fried-chicken-Korea.jpg\" alt=\"\" width=\"1000\" height=\"795\" srcset=\"https:\/\/teanabroad.org\/wp-content\/uploads\/2019\/05\/Fried-chicken-Korea.jpg 1000w, https:\/\/teanabroad.org\/wp-content\/uploads\/2019\/05\/Fried-chicken-Korea-300x239.jpg 300w, https:\/\/teanabroad.org\/wp-content\/uploads\/2019\/05\/Fried-chicken-Korea-768x611.jpg 768w, https:\/\/teanabroad.org\/wp-content\/uploads\/2019\/05\/Fried-chicken-Korea-310x246.jpg 310w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" \/><\/noscript> Cheap eats in Seoul \\ Photo by Hannah DeMilta, TEAN staff<\/figcaption><\/figure>\n<h5><span style=\"font-weight: 400;\">Toiletries<\/span><\/h5>\n<p><span style=\"font-weight: 400;\">In Korea University\u2019s dorms, you have to provide nearly all of your own toiletries and will have to figure out with your dormmates how you\u2019re buying and sharing toilet paper. Shampoo and conditioner are relatively cheap at stores like Homeplus or Lotte Mart and can last you your entire stay. <\/span><\/p>\n<h5><span style=\"font-weight: 400;\">Transportation <\/span><\/h5>\n<p><span style=\"font-weight: 400;\">Transportation is another big cost when abroad. Luckily, Seoul is beautiful in the fact that the public transportation system is insanely efficient and relatively cheap. A subway ride through the T-Money system starts at around $1.25 and goes up depending on how far you go and how many transfers you make. Use the subway map to plan your trips accordingly and find the fastest routes to your desired destinations.<\/span><\/p>\n<figure id=\"attachment_17735\" aria-describedby=\"caption-attachment-17735\" style=\"width: 960px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-17735\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/yH5BAEAAAAALAAAAAABAAEAAAIBRAA7\" data-src=\"https:\/\/teanabroad.org\/wp-content\/uploads\/2019\/05\/image5.jpg\" alt=\"\" width=\"960\" height=\"540\" \/><figcaption id=\"caption-attachment-17735\" class=\"wp-caption-text\"><noscript><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-17735\" src=\"https:\/\/teanabroad.org\/wp-content\/uploads\/2019\/05\/image5.jpg\" alt=\"\" width=\"960\" height=\"540\" srcset=\"https:\/\/teanabroad.org\/wp-content\/uploads\/2019\/05\/image5.jpg 960w, https:\/\/teanabroad.org\/wp-content\/uploads\/2019\/05\/image5-300x169.jpg 300w, https:\/\/teanabroad.org\/wp-content\/uploads\/2019\/05\/image5-768x432.jpg 768w, https:\/\/teanabroad.org\/wp-content\/uploads\/2019\/05\/image5-310x174.jpg 310w\" sizes=\"auto, (max-width: 960px) 100vw, 960px\" \/><\/noscript> TEAN students learn how to navigate public transport in Seoul during Orientation<\/figcaption><\/figure>\n<h2><span style=\"font-weight: 400;\">BUDGETING WHILE ABROAD<\/span><\/h2>\n<h5><span style=\"font-weight: 400;\">Set a budget <\/span><\/h5>\n<p><span style=\"font-weight: 400;\">Set a budget for yourself that is realistic and easy to manage. Going abroad will make you think that you want to buy everything as mementos of your trip, but setting a daily budget, as well as a gift budget, and any other budget like travel, will help you limit spending. My general daily budget was $30 for food, everyday items, subway rides, etc. I also had a budget set aside for clothes that I wanted to buy while I was in Seoul. While it didn\u2019t really have a limit, I told myself that I would only buy things if they were below a certain threshold. (You can find a bunch of clothes for very cheap in the subway stations or in the smaller road shop brands!)<\/span><\/p>\n<h5><span style=\"font-weight: 400;\">Record what you spend <\/span><\/h5>\n<p><span style=\"font-weight: 400;\">I used a debit card that had no foreign transaction fees for most of my purchases. Every few days or so, I would log onto my account and write down what I had spent. I could calculate if I was going over my budget or if I was under and had some money to spare. By doing this, I was able to keep track of how much money I was spending and make sure I was never overspending.<\/span><\/p>\n<h5><span style=\"font-weight: 400;\">Watch out for fees <\/span><\/h5>\n<p><span style=\"font-weight: 400;\">Before you go abroad, consider finding a debit or credit card that allows you to earn rewards while you are abroad, such as through miles or cash back, and that has no foreign transaction fees. <\/span><\/p>\n<h5><span style=\"font-weight: 400;\">Make a bucket list <\/span><\/h5>\n<p><span style=\"font-weight: 400;\">Make lists of things that you want to see, do or get and set aside time and money to make them happen. A trip to Everland, a weekend in Busan and a cute pair of boots from Aland are all reasonable things that can be accounted for if you plan accordingly.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Seoul is relatively cheap and incredibly accessible. With the right planning and saving, you can take advantage of all that Seoul has to offer and have an incredible stay while you\u2019re at it! <\/span><\/p>\n<p><strong>Jenny Lo (University of Central Florida) <a href=\"https:\/\/teanabroad.org\/programs\/south-korea\/\">studied abroad in South Korea<\/a>\u00a0with TEAN.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Let\u2019s talk money. One of the biggest things holding people back when they think about &hellip; <a href=\"https:\/\/teanabroad.org\/blog\/how-to-budget-semester-in-seoul\/\">Read more<\/a><\/p>\n","protected":false},"author":11,"featured_media":17740,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_relevanssi_hide_post":"","_relevanssi_pin_for_all":"","_relevanssi_pin_keywords":"","_relevanssi_unpin_keywords":"","_relevanssi_related_keywords":"","_relevanssi_related_include_ids":"","_relevanssi_related_exclude_ids":"","_relevanssi_related_no_append":"","_relevanssi_related_not_related":"","_relevanssi_related_posts":"","_relevanssi_noindex_reason":"","footnotes":""},"categories":[304,285,1934],"tags":[2490],"class_list":["post-17730","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-seoul","category-south-korea","category-tean-alum","tag-living-in-seoul"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>How to Budget for a Semester in Seoul - TEAN<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"http:\/\/teanabroad.org\/blog\/how-to-budget-semester-in-seoul\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How to Budget for a Semester in Seoul - TEAN\" \/>\n<meta property=\"og:description\" content=\"Let\u2019s talk money. 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