You can make money teaching English abroad. You will need to make a variety of decisions about where you go, what you do and what you arm yourself with.
Go to Japan, Korea, or Saudi Arabia if making money is your only objective. Due to their developed economies, English teachers in these countries make very good money. However, things will be more expensive for the same reason. You will have to scrimp and save a bit more because going out to dinner, going on vacation and other perks cost the same or more than they do in the West.
Avoid the undeveloped world. Ecuador, Laos and most of Africa are so poor that their people cannot afford English classes, nor is there even that much of a demand for them. While volunteer and low-paid work is available and can be very rewarding, this is not an option to take if you want to make money.
Go to the developing world--Vietnam, China, Cambodia--if you want to be able to enjoy yourself and still put away some money. These nations have an emerging middle and upper class, all of whom want to learn English and are prepared to pay $14-18 per hour to do so. However, most people are still very poor, which means that prices are low. You may not make as much per hour, but you will spend less per day.
Obtain private teaching work. Regardless of where you are, someone wants a private English tutor and is prepared to pay for it. In Vietnam, for example, most teachers at language centres make around $16-18 hour. However, private students pay $20-25 hour per student. A few hours at a school for the sake of steady income plus some private students--who, being individuals, are less steady and more prone to being late, absent, or taking time off, for which you are not paid--can give you an excellent pay packet at the end of each month. So print up some business cards and put up some fliers--once your name and number is out there, the work will come to you.
