How much can I save while teaching English abroad?
The potential to save money while teaching English abroad varies based on several factors, but many TESOL qualified teachers do find it feasible to save as much as 50% of their income. The ability to save depends on the country of employment, cost of living, lifestyle choices, and the specific teaching position's salary. While most teachers earn enough to enjoy a comfortable lifestyle in their host country, the opportunity for savings often hinges on managing expenses and lifestyle choices. For many, teaching English abroad offers a financial pathway to support future travels or pay off debts like student loans.
Table of Contents
How much can I save while teaching English in Europe?
How much can I save while teaching English in Latin America?
How much can I save while teaching English in Asia?
How much can I save while teaching English in the Middle East?
What can I do to maximise my saving power?
How much can I save while teaching English in Europe?
Saving money while teaching English in Europe largely depends on the specific country and city of employment. Although Europe is a popular destination for TESOL qualified teachers, it is often challenging to save a substantial amount due to the high cost of living, particularly in popular countries like France, Italy, and Spain. Teachers in these regions typically earn enough to cover living expenses and enjoy a reasonable social life. However, the potential for significant monthly savings is limited due to the relatively high living costs. Prospective teachers should plan their finances accordingly, considering their salary and the cost of living in their chosen location.
How much can I save while teaching English in Latin America?
While teaching English in Latin America, the ability to save money depends significantly on the balance between the generally low average salaries and the relatively low cost of living in the region. Despite Latin America's appeal for its natural attractions and adventure opportunities, TESOL qualified teachers often find it challenging to save a substantial amount of money. While the cost of living is lower compared to Europe and North America, the corresponding lower salaries in Latin American countries mean that substantial savings might not be feasible. Teachers can expect to live comfortably relative to local standards, but accumulating large savings is generally difficult in this region.
How much can I save while teaching English in Asia?
TESOL qualified teachers in Asia can typically save between 30% to 50% of their monthly income, thanks to the combination of high salaries and low living costs in many Asian countries. This saving potential is further enhanced by factors such as free airfares and accommodation, commonly offered in teaching contracts. The amount you can save varies by country:
- In Japan, expect savings of about $500 to $800 per month.
- In China, savings can range from $500 to $1,000 per month.
- In South Korea, the potential savings are around $800 to $1,000 monthly.
- More modest savings, around $200 to $500 per month, are realistic in countries like Indonesia, Taiwan, Thailand, and Vietnam.
How much can I save while teaching English in the Middle East?
Teaching English in the Middle East can be highly lucrative, offering the potential to save around $1,000 to $2,000 per month. This region is known for some of the highest teaching salaries in the world, coupled with a relatively low cost of living in most countries. Additionally, many teaching positions come with a generous benefits package, including paid airfares, free accommodation, and end-of-contract bonuses. As a result, TESOL qualified teachers can save a significant portion of their income. Countries such as Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the UAE are particularly notable for these savings opportunities. However, to be considered for these roles, candidates generally need to have a degree and a minimum of one year of teaching experience.
What can I do to maximise my saving power?
Obviously, how much you can save will largely depend on how you choose to spend your money, however, there are several things you can do to reduce your outgoings and increase your savings. Completing a TESOL certification course is probably the most important thing you can do as most of the better paid jobs worldwide will require one. It is also common practice for teachers to add to their main income by taking on private students in their free time. By working just a few extra hours a week you can seriously boost your income and keep your savings growing.
If you are unable to secure a job that includes free or subsidized housing, you will find that rent is the biggest expense you will face while teaching English. One common way that teachers reduce the amount they spend is to share a house or apartment with other teachers at their school. You can also consider renting a room from a local family, which can often be very affordable and offers the chance to immerse yourself in the culture and language of your hosts. Finally, being smart about where you shop and spend your free time can also have a major impact on your saving power. By avoiding flashy supermarkets and entertainment venues aimed at the tourist market you can make considerable savings that will really add up over the length of your teaching contract.
