Money: Teaching English

Everybody asks:

How much can I make Teaching English Abroad?

But . . . what you need to ask is, “How much money can I save teaching English overseas?”

These are two very different questions.

In some countries you may be provided a relatively modest wage. But with no income taxes, free accommodation, paid or reimbursed airfare, even sometimes subsidized utilities and very low cost of living . . . other than purchasing food – almost everything you are paid is “pocket money” or discretionary income.

The other side of the coin is teaching in some European countries with what might seem to be a very decent wage, but where you must pay for your accommodation, taxes take a huge bite out of your income, airfare is not paid, utilities and transportation are very expensive and the cost of living is very high – and you save nothing. Might even be out of pocket.

So we are going talk about savings, not earnings, here – because what people really want to know is:
Can I pay down my student loans?
Can I pay off my debts?
Can I save enough money to buy an apartment or house – or a car when I return home?

The answer is, “Yes, you can.” It depends only on where you go and your qualifications.

Let’s talk in generalities about regions of the world and specifics about some of the largest EFL markets (China, Korea, Japan, Thailand and more).

EFL Teachers in Korea and Taiwan, for example, typically can save as much as US$1,000 per month or more. Your lifestyle, of course, will affect your personal bottom line as well as how currencies go up and down – but the general idea is accurate. In both countries you will need a BA/BS degree.

TEFL professionals in the Middle East and particularly the Gulf States can sometimes triple the savings of Korea, but the ME will generally require advanced degrees and previous experience for the better positions and some cultural aspects of the region are not to everyone’s liking.

EFL Teachers in China report a good lifestyle on their wages – but that they are usually unable to save significant money, though US$100-200 a month are possible if one is careful.

Thailand and Mexico and many countries in Central and South America offer wages that afford a modest and comfortable living – but serious savings are difficult to come by.

So, as you ponder the decision about teaching English overseas, you’ll also need to consider your financial situation and that will affect what countries you want to look at for your TEFL career.

If you have student loans or other debts, consider only countries where your likelihood of success is great and the average teacher is able to comfortably save at least the amount of your obligations and enough to travel and enjoy the region (Primarily Korea, Japan, Taiwan and parts of the Middle East).

Success

My personal experience is that I started in TEFL with very little in the way of assets – and over the period from 1992 to 2005 was able to buy several rental properties in the USA and pay them off (see TED’s Tips™ below). All the while teaching in four different countries and traveling to many others.

Overall, for me anyway, it was an excellent lifestyle combined with an ability to save. But, it is not all roses and happy faces. I would always prefer to work in a country like Thailand and sit on a beach – but I have had to make some choices and spend some serious time in countries like Saudi Arabia where earnings and net savings can be very high.

TEFL was a real career for me and I needed to make sure I had sufficient funds for retirement (I am now retired at the young age of only 58 – and enjoying that beach!).

TED’s Tips™ #1: In TEFL you are essentially working for yourself, responsible for yourself. Plan for your future carefully.

Working overseas, you might never be paying into a pension fund and if American, you won’t be paying into Social Security. You must plan income for your later years if you intend to stay abroad for a long period of time – or forever. Ignore this tip at your own peril. I’ve have actually seen a destitute old foreigner (Caucasian Westerner) digging through garbage cans, just 100 meters from a beautiful tropical beach. Very sad.

TED’s Tips™ #2: Do you research. Check and double check SAVINGS – not Earnings.

Ask on forums, ask me, ask others: be sure you know before you go.

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How to Teach English Abroad and Secrets of Success Abroad

TEFL eBooks is offering a free download of their new publication Seven Secrets of Success Abroad - and along with it comes a bi-weekly installment and revision of their eBook called How to Teach English Overseas.

Great reviews for the Secrets of Success eBook – in spite of the hokey name – and the How to Teach English eBook is being updated and rewritten and sent out in installments as it is ready.

Here they are – click on the eBooks to get your FREE copies! Great information and the price is right, from our friends at TEFLeBooks.

Please let me know what you think of the ebooks – use the comments section below.

I confess both eBooks are written by yours truly – hoping to inspire others to head overseas and live life BIG out in the real world. I would value your feedback!

Why Teach English?

WHY go abroad to teach English in a foreign land?

Why not!

Why not indeed.  When you can live a dream of traveling and seeing the world, learning of new cultures and all the things that our schools forgot to teach us!

Why not, when some people are saving up to US$1000 and more, paying off student loans and paying off debts – ALL while literally seeing the real world out here.

Teaching English is the path that many people take when they want to travel the world and still earn enough money to live well and support themselves without drawing on savings.

And, you really can have a great time and enjoy this work as you experience the greater world and its cultures.

Tens of thousands of teachers of English ply their trade around the world to support their travel habit and their desire to experience, learn about and understand the greater world at hand. A year abroad is like another four-year degree!

TEFL Newbie supports the idea and wants you to help you make good decisions about it.  Is teaching English abroad the right thing for you?  Is it the right time for you?  Can you meet your goals by heading overseas?  Do you have realistic ideas about what living abroad is like?  Do you understand the stresses and problems involved while working in a culture with different ideals and expectations?

Understand that life overseas offers a much more challenging (and rewarding!) environment than you are used to in your home country.

TED’s Tips™ #1:  Beware, life abroad can be addictive!

I headed overseas 20+ years ago as a Peace Corps Volunteer and then as an English teacher and have enjoyed it so much that I don’t really ever intend to live in the USA again.  It is a great place to visit and I enjoy seeing my family – but I know what they are missing!

TED’s Tips™ #2:  Go TO something – don’t run AWAY from something.

People who have a goal of something they want to see and do, to accomplish – are far more likely to succeed overseas. People who “run away” from their problems always take them to their new location.  They are their problem – though they will never figure it out (of course!).

TED’s Tips™ #3:  Do your research.  Go abroad with realistic expectations.

It is important to know if this is the life for you.  And the only way to get a good handle on that is to have a reasonable idea of what the situation is on the ground at your desired destination.

More than a few nice people have contacted me over the years asking about jobs in luxury resorts, as I live on a tropical island with many luxury resorts on it.  These potential teachers are often  expecting that they can get free lodging in a nice five-star villa and eat free meals at the resorts fine restaurants and live a jet-set lifestyle.

Wow – sign me up!

Now .  . . resort teaching jobs can be some of the best English teaching jobs in the world, but I am sorry to tell you that they aren’t going to house you in a US$3000 a night villa while you work there.  Nor are they likely to start uncorking expensive champagnes as part of your “meals on the job” benefit.

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Stay tuned, we will get to all of these issues and much much more.

EnjoY!

Ted

Teach English Abroad

TEFL Newbie is your opportunity to learn about the world of Teaching English Overseas.

If you want to get started and are still back in  your home country, then this is the best place on the Internet for you.

If you already teach English abroad, but are still newish and would like to improve your situation, this blog is for you too.

We are offering a free eBook called Seven Secrets of Success Abroad and lots of free training and information about how to get yourself overseas – in a good job – Teaching English.  And how to succeed while you are busy experiencing the real world our here.

When does all that start?

Our first blogs will be released tomorrow.  Get ready!

Subscribe to the RSS feed to be sure you don’t miss anything.

See you tomorrow.

Enjoy!