How I Saved 100 Million Won in 5 Years on a 3 Million Won Monthly Salary
Since many people are posting about personal finance, I thought I'd share my experience too. Starting in my late 20s, I consistently put 1.5 million won out of my 3 million won monthly salary into savings and ETFs. I minimized living expenses and also took on web development freelance projects on the side. After 5 years, I surpassed 100 million won in principal and returns. Of course, luck played a part, but I learned that persistence and consistency make it possible.
5 answers
Wow, that's really impressive... Saving 150 out of a 300 salary isn't easy, and the key point is that you also worked as a freelancer on the side. It makes me think about whether I should muster up the courage to try it too.
Five years of patience is no joke. I'm also in my early 300s, and cutting down on living expenses is so hard that it makes me reflect. Especially impressive is that you managed to work on side projects alongside. By the way, how did you start freelancing?
I've been using a similar strategy to save for three years now, but the volatility of ETFs scared me, so I increased the proportion of savings accounts. By the way, which ETF stocks did you mainly invest in? Could you share some of your experiences?
Balancing freelance work seems to be the real key. I do delivery gigs on weekends, but web development probably pays way more per hour, so I'm envious. Building skills outside your main job really seems crucial.
Stories like this are really motivating. I'm in my mid-30s, and I'm thinking about trying this even now. But is it possible to live on 150 (for living expenses) while saving 150 in a savings account and ETFs? Living in Seoul seems like it would be pretty tight...