The Road to 42k – Month 6 of 12

Woot woot it is month six of our monthly savings check-in. Month six means that we are half-way done with our contract and half-way to our next adventure. So let’s see how we are doing.

Total Savings in Six Months

Saved in January
$2,
USD
Road to 42K
$15,0
Month 6 of 12
In All Banks
$56,0

But does that mean we are fifty percent of the way to our goal? This month we will take a look how the fluctuating won and rising dollar have finally made us bite the bullet and take action.

So here’s how we saved our monies. It starts with our earnings.

Note: Earnings, Money Spent, and Savings are for TWO PEOPLE

Earnings

Total in
5,,000
Korean Won
Total in
4,
USD

Being salaried employees this time around. Not much changes in the earnings department.

Megan gets more than me since I get money for utilities/internet/water deducted out of my bill. Her 2.9x million gets instantly deposited into our bank account. We live off of my smaller paycheck each month. We wrote about how we saved 30k for travel on the Planet D here.

We spent about 2.5 million won over the month of January. Here’s what that looks like.

Money Spent

Total in
2,,000
Korean Won
Total in
$2,0
USD
Trips – Total of 1,200,000 krw or $1,002

Weekend 1 – Entertain a visitor.Taking him all across Seoul and eating out every meal for four days. Totally worth every penny as he reminded me of a valuable lesson. (400,000)

Weekend 2 – Chiropractor/Night out in Seoul  – $250,000

I hurt my neck because I don’t know how to do these new exercises. 🙁

Weekend 3 -Chiropractor/Iwha Mural Village/ Night out in Seoul – 200,000 krw

Weekend 4 – Discovered the wonders of Yogiyo and stayed in all weekend ordering different foods. Don’t judge us, it was awesome! 100,000.

Weekend 5 – Our friends came to town and we had a night out with them, a visit to the Raccoon Cafe and some drinks. 250,000.

Everything Else Total – 1,350,000 ($1,903)
  • Groceries – $500,000 krw
  • Miscellaneous stuff (coffee’s, snacks, danger-ju’s etc…)= 100,000 krw
  • Utilities – 100,000
  • Hotpacks – 20,000 – We bought hot packs like crazy. Hot packs for our feet, hands, even our bellies. Almost every day all weekend. Hey we are babies.
  • Three or four weekends out – This month we had some visitors in Seoul. During these nights we don’t quite know exactly what happened or how much money we spent. (245,000ish)
  • Wednesday date nights. – $475,000
  • Rent – 0 krw.
See Also:  Bobo and Chichi's Big News

Current Standings

Doing all this and we were actually shy of our goal of 18 million by 400,000 won. So as soon as we got paid we transfered the extra money into Megan’s account. We should be able to skate by since February is the shortest month and its starting to get warm enough for Everland!

18mill

If only that was USD instead of Korean Won.

We are saving more won every month but saving about the same exact amount in USD. The fluctation in prices is difficult to assess on a month by month basis. But we are hoping that we can lock up this 15k for the first six months, then another 15k for the second 6 months plus 6k for our bonus at the end of the year. Which brings us to a current track for 36k in the year. Which is still completely awesome.

Our rationale for transferring all our money now is that we believe inaction is a recipe for disaster. We could hold off and hope and wait to see what will happen. But unless we make a decision that we are comfortable with, it will always loom over our head. We don’t want that extra burden. Also we depend on this money for our travels. So it’s better to lock it up now instead of speculate and lose potential money down the line. Currently 1$ = 1195 won. Conservative estimates predict the dollar will soon be between 1400 – 1700. We stand to loose over 30% if we do nothing. We stand to gain virtually nothing if we wait. So we believe transferring it is the best way to go.

Now it’s time to try and figure out how to make up that extra 6k and start learning how to ween ourselves off of teaching english and traveling and taking photos full time.

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Goals Towards online Business

 

This month I personally have taken a step backwards on the endeavor of a Hyperlapse Photography Course. It’s generated quite a bit of excitement and some people I genuinely don’t know but I keep running into hurdles and roadblocks in the development of the course and even the E-book.

I have written six chapters. There will be only an introduction and the six chapters. However one of them just isn’t right yet. I just haven’t figured out a way to explain it clearly. I’ve realized that while it makes sense in my head, it doesn’t always make sense in my words. So I am writing, shooting, testing and re-writing hoping that I can make the words clearer to understand.

See Also:  A Hyper-Lapse Through Grand Seoul Park in Korea

I will be offering the E-book on how to do hyper-lapse photography for free initially. Then a modest price of $4.95 or $9.95 after that.

The goal is then to create an entire course walking through a an entire project. Where you can see me planning, explaining the concepts in the e-book, me actually shooting the photos, processing them and editing them. Even bonus sections on how to make the transitions look great.

I am strongly hoping that that will $500-$1000 a month for our last few months. But unfortunately it just is taking a bit of time to create. If you are interested in learning hyper-lapse photography you can sign up here when it is ready.

A huge thank you!

We love blogging, we love traveling, we love photography, and we absolutely love you guys out there reading our stories, sharing your feedback, inspiring us and most of all keep us in check. While we don’t ever expect to make money from this blog and sharing our stories we find having this blog and this connection with others as an extremely gratifying way to keep on track of our goals and be the best version of ourselves as we can. It gives us a platform to look at our work, our life and get excited about where we have been, where we have come from, and our future.

Thank you so much for your time!

P.S. If you are interested in following along this journey with us we would be happy to have you. We will update this series every month. They will most likely be quite a bit shorter as we jammed the last three months in here.

We’re ready to take this relationship to the next level. If  you are consider connecting with us on your favorite social network sites. Just click your favorite link.

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Take your first step today by clicking the button below to get udpates every month on our progress to ween ourselves off teaching english in Korea

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– Scott & Megan

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