August Update

I stated in May that my monthly goal was to save ₩2,000,000 a month. It is unfortunate to say that I  was not able to meet that ₩2,000,000 goal. In the months of May and June, I was able to track my spending by updating this blog every few days. I had a budget spreadsheet that I updated at the end of each day, so I was able to see where my money was going.

I guess the laziness of not updating this blog was due to my hectic work week. I was working 50+ hours (at the office – paid) and another 10+ hours (at home – unpaid). But, this starting last week my schedule changed. Nothing really changed except for going home early on Wednesdays and working 4 more hours on Saturday. Here is my current schedule:

Free day

Monday (8 hrs)
1:00 ~ 9:00 pm – LSIS

Tuesday (9.5 hrs)
6:40 ~ 7:10 am – Hyundai Mobis (work from home)
12:00 ~ 9:00 pm – LSIS

Wednesday (5.5 hrs)
6:40 ~ 7:10 am – Hyundai Mobis (work from home)
1:00 ~ 6:00 pm – LSIS

Thursday (9 hrs)
12:00 ~ 9:00 pm – LSIS

Friday (8 hrs)
1:00 ~ 9:00 pm – LSIS

Saturday (8 hrs)
9:00 ~ 6:00 pm – Hyundai Mobis (1-hour lunch break)

Total work hours = 48 hours


You would think my salary took  a hit, but in reality, I am making more money. Working 8 hours instead of 4 hours on Saturday has boosted my paycheck.

Anyways, I will try to update this blog on a weekly basis. My goal again is to ₩2,000,000 a month.



Update – August 2016

It’s been a few months since my last post. Here’s an update on my current finances.

2016 Savings (January  to August 14)

  • ₩11,500,000 ($10,420) – I’m a little bit disappointed on the amount that I have said so far this year. I was hoping it would be around ₩14,000,000.

2016 Savings Goal

  • ₩24,000,000

This new goal is possible since I will be able to collect my bonus (₩3,500,000) at the beginning of the year. Also, since I’m planning on leaving Korea next year, I’m going to get my pension back (₩130,000 * 2 * 24 = ₩6,240,000).

Savings from each payroll ~

August Payroll = ₩2,000,000
September Payroll = ₩2,000,000
October Payroll = ₩3,000,000
November Payroll = ₩3,000,000
December Payroll = ₩1,800,000
TOTAL = ₩11,800,000


Current Savings + Pension/Bonus + Potential Savings

₩11,500,000 + ₩9,740,000 + ₩11,800,000 = ₩33,040,000

Also, I’ll be getting  my apartment “security” deposit back (₩5,000,000).

TOTAL POTENTIAL SAVINGS = ₩38,040,000 – Not too bad for one year’s work and 2 year’s of paying into a government pension system.


Weekly Recap: May 29 – June 4

Weekly Recap 0529-0604

Expenses -₩1,517,966  (-$1,311.05)
Income ₩3,339,890 ($2,884.78)

I decided to send extra money to the US to cover my credit bills. Even though it’s a VERY low rate, having a balance is irking me. My plan was to keep paying the minimum since wiring money to the US is quite expensive ($20 plus dollars).

My bank closed all of its services during the weekend plus Monday (holiday), so I had to borrow money from one of my close friends. I thought I transferred money to my other account, but when I went to pay for something I got declined. It was quite embarrassing since the cash register said, “not enough funds.”