Well, I'm completely broke. I sent home a bunch of money at the beginning of the month to pay off some of my debt, which was awesome, but now I'm almost completely out of won. Fortunately you can live here pretty well without spending much money if you need/want to do so. You just avoid the evil downtown area restaurants and bars and only buy absolute necessities.
However, being broke is making me fantasize about the things I want to buy when I have money again: tomato sauce, a lint brush, a cheese grater, a camera, you know... the basics.
If anyone here is wondering about saving money in Korea, it's ridiculously easy to do, but it does depend on the quality of life you want and your tolerance for risk (by teaching private lessons on the side, which is illegal). I've been living at least as comfortably as I was at home (minus some conveniences that just aren't available here in the same way like a dryer, a car, and a good oven) and sending home $1,200-1,500 each month and I don't have one of the higher paying jobs or do private lessons. I don't drink a ton, but I go out a lot and travel about, so I'm not being a total hermit. I'll probably send back less in December because I'm planning a trip for February, need to buy Christmas presents (and send them home, which costs more than the actual presents), and buy a digital camera, but it's not hard to do well here.
By the end of my year here (thanks also to severance and the refund of pension, which my non-sketchy employers do correctly!), I should have no credit card debt, have made a pretty substantial dent in my grad school debt, and still have some travel money left over.
I'm not here for the money, though. I came for the experience. I think a lot of people here just for the money have a harder time because they keep trying to live like they did back home, which can be pricey here. Some of them get really depressed and develop alcohol problems, which gets to be expensive pretty fast.