Estimated Monthly Living Expenses for a Man in His 60s in Daegu, Korea

Estimated Monthly Living Expenses for a Man in His 60s in Daegu, Korea

※ The monthly living expenses for a man in his 60s can vary depending on several factors, such as housing situation, health condition, food costs, and transportation. Let’s break down the estimated monthly expenses for a man in his 60s living in Daegu.

 

1. Housing Costs

Housing costs can differ depending on whether you are renting or own your home. If renting, the average monthly rent in Daegu without a deposit ranges from 300,000 KRW to 600,000 KRW. For homeowners, maintenance and management fees typically amount to around 150,000 KRW to 250,000 KRW per month. If there are outstanding mortgage payments, those would add to the cost.

2. Food Expenses

Food expenses can vary depending on eating habits. For a man in his 60s, monthly food expenses are estimated to be between 250,000 KRW and 400,000 KRW. If dining out frequently or consuming health food supplements, this amount could exceed 500,000 KRW. On the other hand, if most meals are home-cooked, costs could be kept around 250,000 KRW.

3. Transportation Costs

Daegu has a well-established public transportation system. For those who primarily use buses or subways, transportation costs are estimated to be between 50,000 KRW and 100,000 KRW per month. However, if you own a car, additional expenses such as fuel, parking, and vehicle maintenance could add 150,000 KRW to 250,000 KRW per month.

4. Utility Bills and Maintenance Fees

Utility bills, including electricity, gas, water, and building maintenance, are estimated to range between 150,000 KRW and 250,000 KRW per month. During the winter and summer months, heating and cooling costs may increase the total.

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5. Health-Related Costs

For individuals in their 60s, regular health checkups, medications, and treatments are key factors in living expenses. On average, health-related costs can range from 100,000 KRW to 300,000 KRW per month, and may be higher for those needing specific treatments or medications.

6. Leisure and Hobbies

Many individuals in their 60s spend more time engaging in hobbies and leisure activities. Expenses for activities like gym memberships, cultural center programs, or hiking clubs can range from 50,000 KRW to 150,000 KRW per month. Costs may rise if the individual enjoys domestic travel or participates in other expensive hobbies.

7. Other Miscellaneous Costs

Other expenses include clothing, household repairs, and family gatherings. These miscellaneous costs are estimated to be around 100,000 KRW to 200,000 KRW per month, depending on the situation.

Estimated Total Monthly Living Expenses

Summing up all of the above categories, a man in his 60s living in Daegu could expect monthly living expenses to range from approximately 1,200,000 KRW to 1,800,000 KRW. If housing and health-related costs are higher, the total could exceed 2,000,000 KRW per month. On the other hand, for those living a more frugal lifestyle, it could be managed for less than 1,000,000 KRW per month.

While the cost of living in Daegu is generally lower than in Seoul, personal lifestyle choices can greatly influence monthly expenses. It is important to plan a budget that suits your needs and lifestyle.