Teach English in Mexico: Financial Snapshot
Knowing how the banking system works and expected costs, such as prices for apartments and groceries, makes the Oxford Seminars TESOL/TESL certified teacher more informed.
Like many places around the world, the price of rent in a popular city will cost more than rent outside the centre of a city or in a neighbouring rural area. It is estimated that most English teachers in Mexico will spend between $3,000 and $5,000 MXN per month on the costs of day-to-day living.
English teachers who want to set up a bank account in a Mexican bank will have the option to have the money in their account in the form of American dollars or Mexican pesos. Money can be transferred to accounts throughout Mexico or abroad. In order to get a Mexican bank account, ESL teachers must show the following:
- A valid passport
- A FM2 or FM3 visa (see below)
- At least one reference from a bank or creditor (Mexican or abroad)
- Proof of address
Mexican cities are filled with restaurants and street vendors selling a wide assortment of food. One of the reasons many ESL teachers decide upon teaching English in Mexico is the access to a diet of well-known foods. Eating out is relatively inexpensive compared to America, but eating at home can help English teachers save even more money. It is highly recommended that foreigners avoid tap water, fruits peeled by others, and salads. Always wash all food with bottled water (which is extremely easy to find and cheap to purchase), as it usually takes months before the digestive systems of ESL teachers adjusts to Mexican water. The same thing occurs to Mexicans when they travel north of their border. Before leaving home, it is recommended to consult a family physician about drinking and eating while in Mexico.
Below are some examples of typical Mexican food prices:
- 1L bottle of water
- Taco from a street vendor
- Tortillas (pack of 36)
- Bottle of Beer
- Big Mac