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

Michaela Cricchio, 26, makes $24,000 per year as an English teacher in Seoul, South Korea. Although she was originally from America, she moved to South Korea in 2019 to travel. 

Before coming to South Korea, she graduated from college, where she decided to work in the cruise ship industry. She put $13,000 towards traveling abroad. Afterwards, she went to get a certificate to teach English in Asia, where she then moved to South Korea.

Cricchio’s monthly budget is $1,740 per month. Because she gets paid once a month, she has learned how to be frugal with her spending. Although the school pays for her rent, she pays for utilities and internet, all of which are incredibly inexpensive in South Korea.

She currently has $15,000 of student debt, in which she pays $100 per month. Her goal is to pay it off within 4 years.

“When I have extra money lying around, I will up that cost to maybe $130 per month,” she said (6:17).

Looking ahead, Cricchio wants to transition from an English teacher to doing freelance writing full time. She hopes that by doing this, she can have the option to travel anywhere in the world.