The $700 Monthly Savings Goal: Where TEFL Teachers Thrive Financially

The dream of teaching English abroad while building your savings is a powerful motivator. For many, a clear financial target, like setting aside an extra $700 each month, turns that dream into a tangible goal. While it requires strategic planning, this level of savings is entirely achievable in numerous destinations worldwide, provided you find the right position.

The key to unlocking significant savings often lies in one major factor: housing provided by your employer. When your accommodation is covered, a huge portion of your monthly expenses disappears, instantly boosting your potential to save.

Prime Destinations for Serious Savings

The Middle East: The High-Earning Powerhouse

For licensed teachers, the Middle East remains a top-tier financial choice. Countries like the UAE, Saudi Arabia, and Qatar offer highly competitive tax-free salaries at international schools and universities.

• The Vibe: Professional environments with modern amenities.
• The Savings Reality: Even with a comfortable lifestyle that includes dining out and travel, saving well over your $700 goal is standard. It’s a region where financial goals are met and often exceeded.

East Asia: The Reliable Classic

East Asia continues to be a cornerstone for TEFL professionals seeking a balance of culture and savings.

• South Korea: Through programs like EPIK or at private academies (hagwons), salaries combined with benefits like housing and flight allowances make saving $700–$1,000+ per month very manageable. Life in cities like Seoul or Busan is modern and convenient.
• China: In major cities such as Shanghai or Beijing, international schools and private language centers aggressively recruit licensed teachers. Packages are robust, and the cost of living, while rising, still allows for aggressive savings if you live like a local.
• Taiwan: Known for its fantastic work-life balance and friendly culture. Saving your target amount is very feasible here, especially with housing stipends offered by many schools.

Southeast Asia: The Balanced Approach

This region is famous for its vibrant culture and lower cost of living, but saving requires a bit more focus.

• Vietnam: In hubs like Ho Chi Minh City and Hanoi, salaries at private language centers are strong. While housing is not always provided, the low cost of living means a comfortable, social lifestyle can still yield $700+ in monthly savings with a bit of budgeting.
• Thailand: Saving significant money is tougher, but possible. Focus on positions in Bangkok at private schools or universities. Your lifestyle choices will directly impact your ability to hit that savings target.

What Kind of School Should You Target?

Your qualifications open specific doors. To maximize your income:

• International Schools: Your teaching license is your golden ticket. These schools offer the best compensation, benefits, and savings potential globally.
• Private Bilingual Schools: A fantastic middle ground, often offering competitive packages similar to international schools.
• Reputable University or Corporate Programs: These positions often provide stability, good hours, and salaries that support your financial goals.

Making Your Savings Goal a Reality

Achieving a $700 monthly savings rate hinges on a simple formula: Maximize Income, Manage Outgoings.

• Seek a Full Package: Prioritize jobs that include housing, flight reimbursement, and health insurance.
• Live Locally: Embrace the local lifestyle in your spending on food, transport, and entertainment.
• Budget with Purpose: Track your expenses for the first few months to understand your cash flow and identify areas to optimize.

With the right destination, the right school, and a mindful approach to spending, your goal of teaching English abroad while consistently growing your savings is not just a possibility—it’s a waiting reality.