Money

Discussion in 'Teacher Time Out' started by CanukTeacher, Jul 13, 2009.

  1. CanukTeacher

    CanukTeacher Comrade

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    Jul 13, 2009

    Hi Everyone,

    It seems that everyone has been talking a lot about money lately on here so I thought I'd post. What are some of the best ways you have for handling, saving, etc your money. Do you plan on teaching until retirement or do you plan on retiring early? Do you save much of your pay check or is it mostly gone by the end of the month?

    Looking forward to hearing some interesting ideas.

    Canuk
     
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  3. smalltowngal

    smalltowngal Multitudinous

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    Jul 13, 2009

    Right now, with only one income, we're living paycheck to paycheck. I'm hoping by next year when dh is done with school (crossing fingers!) and gets a job, we'll be better able to save our money. We'll both be paying into teacher retirement so we'll be able to retire in his 60s/my 50s. If everything goes right.
     
  4. JenPooh

    JenPooh Virtuoso

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    Jul 13, 2009

    I don't teach anymore, but the best thing we did is pay off our credit cards. We keep one with a low interest rate on hand. We only use it if we have to, and then we pay it off before we use it again. We just work at keeping our debt at bay. The only real "debt" we have now is our mortgage and a consolidation loan that we have 2 more years on. Our cars are paid off, but it did take quite awhile and who knows how much longer they will last. We still live paycheck to paycheck though and it's hard to save because there are always expenses popping up out of nowhere. I do have to say that paying off that debt has saved a lot of headaches though.
     
  5. fast chalk

    fast chalk Comrade

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    Jul 13, 2009

    Some months, we can save money. But lately it was very complicated , economic crisis is not letting us save as we did before. Dh works free lance and he is not having the stuff of cases or folders he had in the beginning of 09, so it´s not that easy.
    I got a substitution in 2 public schools but as it was my FIRST TIME in that area I will be receiving my June´s paycheck in September (luckily!!!!), you know ... PAPERWORK and that sort of things. grrrrrr... ...
     
  6. Ms. I

    Ms. I Maven

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    Jul 13, 2009

    I've been so used to getting paid only once a month for almost the past decade now. Either way, I'm a good money mgr.

    As soon as padyday (PD) comes, I pay my bills (I currently don't hv the 2 big ones: Mortage/rent or car pmts), then save (esp during the summer mos), & I spend a little. I still live w/ my parents, so there's a lot of the big bills I don't have to pay yet, plus I'm still single w/o kids.

    I'm a LONG way from retirement. I'm back in school to get my degree to become a speech-language pathologist. I plan to do that until retirement age.
     
  7. smalltowngal

    smalltowngal Multitudinous

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    Jul 13, 2009

    MsI, did you pay cash for your new car?
     
  8. Ms. I

    Ms. I Maven

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    Jul 13, 2009

    Actually, my parents got it for me, but w/ the other bills I have, I might as well have a car note. :)
     
  9. smalltowngal

    smalltowngal Multitudinous

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    Jul 13, 2009

    Oh, good!!
     
  10. Ms. I

    Ms. I Maven

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    Jul 13, 2009

    :D
     
  11. MsMar

    MsMar Fanatic

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    Jul 13, 2009

    Other than student loans (about $50 a month for me and $125 for dh) from grad school and our mortgage we have no debt. We have never carried a debt on our credit cards and bought both cars with cash. We are currently able to save some money each month in addition to putting in an extra $250 into a 403b (PA has a good pension plan for teachers so the 403b is on top of that).

    We might be moving in August though and increasing our mortgage payments so our ability to eat out and do other things while not watching money real close will end. But we'll still be able to avoid credit card debt and worst case scenario will be tapping into our regular savings.
     
  12. bonneb

    bonneb Fanatic

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    Jul 13, 2009

    I think the most important thing is to stay out of debt, or make a plan to get out. Also, keep a spending journal to see where the money goes. I have a relative who spends about $10,000, yes, ten thousand dollars a year on COFFEE. Mind boggling.

    Just today I allowed myself to browse some online shopping sites. I found myself wanting to buy jewelry. Then I started talking to myself - that is a 'want," not a "need." I am big on not collecting "things" because then you have to spend your time taking care of them (but I am tempted by jewelry!).

    Anyway, a journal will show you where you can cut back on the "wants" and that is money you can sock away. If your job has an automatic savings deposit service, where they automatically put part of your paycheck into savings or investment, that is definitely the way to go. If you never see it, you don't miss it!
     
  13. mollydoll

    mollydoll Connoisseur

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    Jul 13, 2009

    How the heck does anyone spend $10,000 a year on coffee? Daily pounds of the civet poo stuff?! Hand-roasted fresh Jamaican Blue Mountain flown in weekly?

    I have an admitted latte problem, but at my worst during hugely busy stressful times, I still would be hard pressed to spend more than ~$100 a month. Normally, I buy high quality beans, have a variety of syrups and buy my soy milk and make my own in a good espresso machine and that runs ~$20-30/month. I am plotting putting money aside (around $900-1200) for a snazzy superautomatic espresso machine (my version of a drooled over flat screen TV, I guess). But, yeah. I am the queen of ways to extravagantly spend money and this one has even me stumped.
     
  14. Ms. I

    Ms. I Maven

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    Jul 15, 2009

    Speaking of coffee, I'm pretty hooked on this smoothie at Jamba Juice that I get quite a lot, the Matcha Green Tea Blast. It's the BEST!n It has a unique flavor. The size I get costs $5.70 total. I can't help it, it tastes good!
     

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