Expat Personal Finance 101

The DOW had its biggest one-day drop in history. Banks are being nationalized to prevent their outright failure. Worldwide economies are in tatters. What does it all mean?

Well… I have no idea. All I know is that when I sent money home to pay my student loan bills last week I sent 150,000 won more than usual and it still wasn’t enough to cover my minimum payments. To be honest, though, my personal finances in general need a serious makeover. Am I making intelligent decisions in regards to my debt? How do I save money as an Expat in Korea? Should I try investing?

I didn’t know where to even start on these questions, and I was sure that if I didn’t know, then there are probably a lot of other expats in Korea in a similar boat. Thankfully the blog Investing Won recently came on the scene and when I wrote Sungwon asking if he’d be interested in doing a joint posting project, he didn’t hesitate to take me up on it.

In the following segment, I will layout some details of my financial situation that are probably fairly common to a lot of people. I’ll mention some of the strategies I’ve taken up to date. I’m going to put it all out there, and then Sungwon’s going to pick it apart. Read more

Expat 2.0; Social Networking for Expats

It used to be that being transferred to Korea or coming here to teach English, although adventurous, also meant hardship and cultural alienation. Now that Korea’s one of the most wired countries in the world (last I heard it got knocked off the top spot) and pretty much any creature comfort you could think of can be found at costco, department stores, or ebay, the lifestyle you lived back home may not be so different from your lifestyle here. Still, staying connected with family and friends from the homeland is a challenge, but there are certain Internet companies and websites out there that are blurring even these lines, and I’ve created the following list of social networking sites that ease the life of an expat. Read more