The Official Teacher Finance Thread

Discussion in 'Teacher Time Out' started by whizkid, Jul 10, 2019.

  1. ChildWhisperer

    ChildWhisperer Groupie

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    Jul 17, 2019

    SAME. I've thought about hiring one of those cleaning services/maids/whatever, but I don't like strangers touching my stuff and being in the house. I have friends who use them and they'll actually leave so they're "not in the way". But I'd probably end up following the cleaning person around the house; I don't trust strangers in/near/around my house! :D:rolleyes:
     
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  2. futuremathsprof

    futuremathsprof Aficionado

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    Jul 17, 2019

    Exactly this! I would be following them like a hawk.
     
  3. whizkid

    whizkid Habitué

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    Jul 18, 2019

  4. whizkid

    whizkid Habitué

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    Last edited: Jul 18, 2019
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  5. whizkid

    whizkid Habitué

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  6. TrademarkTer

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  7. whizkid

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    Jul 18, 2019

    Yea, I know. Stocks will also benefit because investors will be more inclined to allocate money to them hoping for a better return than cds, savings and bonds and it'll make borrowing for companies cheaper to fund their operations, so interest rate movement is always a double edged sword.
     
  8. bella84

    bella84 Aficionado

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    Jul 18, 2019

    There is some biased and factually inaccurate information on this website - at least for my state. So be sure to do your own research before accepting this information as truth.
     
  9. geoteacher

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    Jul 18, 2019

    I second this. I don’t know about how many teachers qualify, but I do know that our state trust is usually ranked as one of the most financially solvent and well run in the nation. We earned a B.
     
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  10. bella84

    bella84 Aficionado

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    Jul 18, 2019

    Same here... and we were ranked as an F!
     
  11. TeacherNY

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    Jul 18, 2019

    The only thing I would consider is limiting the cleaning to the living room, bathroom, front hall, kitchen and dining room. That way, my office and bedroom where most of my personal things are would be my responsibility. Also, if somene came when I wasn't home, I'd have to make sure my dog was kept out of the way.
     
  12. YoungTeacherGuy

    YoungTeacherGuy Phenom

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    Jul 18, 2019

    I love having a cleaning company come to my house. They come every other week. I can peek in on them from my phone (I have cameras in the house). I use the Swiffer to keep up on the floors and do light housekeeping in between their visits, but they do things I can’t stand—such as cleaning the shutters and bathrooms, for example.

    From what I’ve seen, my dog follows them around for the first 10-15 minutes and then goes back to bed.
     
  13. TeacherNY

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    Jul 19, 2019

    LOL My dog has to be the center of attention all the time. He would follow them around and demand tummy rubs and cookies! I'd have to bring him to my sister's house for a while.
     
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  14. Ima Teacher

    Ima Teacher Maven

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    Jul 19, 2019

    There is a house near me that just went on the market. If it were adjoining my property, I’d snatch it up. The house is tiny and in need of major repairs, and the lot is small. However, it’s going to sell cheap and it would make a nice addition to my property size. Too bad it is one lot away from mine.

    I think we might go to the walkthrough to see how bad it is. It has a living/dining/kitchen combined area, one bedroom, and one bathroom. It does have a small porch and fenced yard. Not sure if it is past the point where it could be remodeled and used as a rental or not.
     
  15. futuremathsprof

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    Jul 19, 2019

    You never upgraded your home? When are you going to spruce up your property?

    I, myself, will buy eventually, but I am going to go all out. Huge television mounts in living room and bedroom, security cameras, redwood fences, security wall in front with electronic security gate, granite countertops, stainless-steel appliances, etc. I must have the works, haha!
     
    Last edited: Jul 19, 2019
  16. geoteacher

    geoteacher Habitué

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    Jul 19, 2019

    At least you know what you like. I’d like granite countertops someday, but I’m not a fan of all the fences and security gates. Our back yard is fenced, but it was mostly to keep kids in and wildlife out. Many years ago I had a neighbor call to make sure my son was inside. They drove by the house, and there was a black bear playing in the kiddie pool in the front yard. I guess I should have believed my son when he told me he saw a bear in the woods!
     
  17. Ima Teacher

    Ima Teacher Maven

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    Jul 19, 2019

    My property is fine. It was completely remodeled inside and out when I bought it 20 years ago, and every few years I redo a room or two if needed. I’ve redone landscaping. Changed roof color. Repainted. I added a master suite, additional two-car attached garage, and fencing in 2016. My next big project is repaving the driveway. I love my house.

    The one for sale near me would have been one I’d have been interested in purchasing to tear down just to add to the size of my yard had it adjoined my property. I have 1.5 acres currently. The lot for sale is maybe a quarter acre, but it is long and narrow. As it is, there is a house between my property and this one, so it would be a rental property investment. However, it doesn’t seem like it will be in good enough shape to remodel. I’ll have to see it. My neighbor might buy it for the land. I haven’t talked to them since it went on the market.
     
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  18. Ima Teacher

    Ima Teacher Maven

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    I’m not a fan of stainless steel appliances. I liked them when I first saw them, but once a few friends had them, I started hearing them complaining about how hard it was to keep them clean. We have quartz in our bathroom. I like it a lot. I’m still trying to decide how to redo the kitchen. Right now it is fine. I enjoy making upgrades and changes to my house. DH is a tech guy, so he put in surround sound and a huge LED television. I don’t like tv that much.
     
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  19. whizkid

    whizkid Habitué

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    Jul 19, 2019

    Yeaaaaaaaaaaaaaa!
     
  20. GPC0321

    GPC0321 Companion

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    Jul 19, 2019

    I fly Southwest too, and apart from the sign-up bonus, I don't really have much use for their co-branded cards from Chase. I prefer to do the Chase "Trifecta" of Sapphire Preferred (might upgrade to Reserve in the near future), Freedom, and Freedom Unlimited. This way I'm earning 1.5-5X Ultimate Rewards points on everything, and I can combine those all on the CSP, then transfer them to my Rapid Rewards account.

    Started getting into the credit card travel game about three years ago, and have paid for 10 round-trip flights (8 to Orlando and 2 to Denver) with points in that time. The only money spent is on Early Bird Check-in and taxes and fees.

    The other card that worked well for me, though I just closed it because I'm going to hit up Chase again when I'm eligible once more, is their Hyatt card. I had the original Hyatt card with a $75 annual fee. That $75 got me a free night in a $250+/night hotel each year. The new version, the World of Hyatt card, has a $95 annual fee, so it's still a good deal. Not sure if I'll get it or not in the future. For the old one, I just put Netflix on it and set it to autopay and got my $75/night stay in the MCO Hyatt Regency each year.

    I have credit cards with all of the major banks: Discover, Citi, AmEx, etc. My preference is to focus on one rewards program to maximize the benefit. If I spread it out between a cashback card here and a cashback card there, it doesn't amount to as much as with Chase, where I can pool everything earned to one card either to transfer to Southwest or use on their travel portal.
     
  21. futuremathsprof

    futuremathsprof Aficionado

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    Jul 19, 2019

    Wow, that sounds awesome! I can’t wait to do renovations one day or to buy a home that has everything I could possibly want. And you’ve given me plenty to think about in terms of sprucing up a future property.
     
  22. futuremathsprof

    futuremathsprof Aficionado

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    Jul 21, 2019

    I’ve seen teacher pensions for less than what this couple get per month. Invest people!

     
  23. futuremathsprof

    futuremathsprof Aficionado

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  24. futuremathsprof

    futuremathsprof Aficionado

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  25. futuremathsprof

    futuremathsprof Aficionado

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  26. futuremathsprof

    futuremathsprof Aficionado

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  27. futuremathsprof

    futuremathsprof Aficionado

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  28. futuremathsprof

    futuremathsprof Aficionado

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  29. Ima Teacher

    Ima Teacher Maven

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    Our government lumped all the state pension programs together, which was a mistake. Then he talked about our pension being really bad when the government borrowed from our pension and didn’t repay it. They didn’t borrow money they gave us. They borrowed OUR money. Our governor is not my favorite person.
     
  30. futuremathsprof

    futuremathsprof Aficionado

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    Jul 29, 2019

    Wow! That is completely unacceptable and should be illegal. I don’t understand why governments think they are allowed to borrow the taxpayer’s money and not pay it back.

    I’m really concerned for the many teacher pension funds because many are underfunded. What are millions of teachers going to do when they retire? Many ONLY have their teacher pensions and they are not enough...
     
  31. TeacherNY

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    Jul 31, 2019

    Not only teachers, but most people really don't give enough thought to retirement. People need to plan early. It's too bad there are lots of elderly people struggling because they have to rely on SS checks and nothing else. The result is them crying, "I'm on a fixed income". Well, yeah, and there's a reason for that...:confused:
     
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  32. futuremathsprof

    futuremathsprof Aficionado

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    Aug 1, 2019

    Exactly! Case in point, I have a friend who is a cashier making $14/hr and so I let him know that if he saves just $100/month for 40 years that he’ll have over $1,000,000 in retirement. His response, “I’ll wait on that because I have too many expenses.” His idea of waiting is to never get around to it.

    The kicker: He barely has ANY expenses. At. All. He lives at home rent free with his parents and after all his “expenses” are paid (read: wants and not needs), he *only* has $800 left over. Yeah, he will really struggle on just having $700 every month to just throw at nonsense. I just don’t know how he’ll manage. :rolleyes:

    It’s like people deliberately try to fail.
     
  33. TeacherNY

    TeacherNY Phenom

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    My former neighbor had to move after her husband passed away but she would complain to us that she would have to work until she died because she had no money saved at all. But she did manage to spend hundreds of dollars on cigarettes per month. She only worked part time. People spend money on what they WANT and unfortunately don't think about other things until it's too late.
     
  34. futuremathsprof

    futuremathsprof Aficionado

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    You are a breath of fresh air, no pun intended. People always seem to throw money at things that they want and then complain that they have no money for anything else. Like, maybe if you put less money towards entertainment or whatever, then you would have more money!

    Case in point, I’ve overworked myself through the vast majority of my 20’s (from the age of 20-27) and opted to not spend all of my money on fun like most of my friends and now I’m starting to have me-time more because I’m at the point where I’d like to be (I already paid off the remainder of my rent for the year through June 2020, I paid off my car insurance for the year, and I continue to save at least 50% of my income towards investments/savings), so its okay if I splurge. I still provide for needs and THEN wants. :)
     
  35. TeacherNY

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    Right. That's why we want to pay off our house ahead of time. Also, we decided to get solar panels installed which are expensive but will save us money in the long run. We are getting a loan BUT plan to pay it off early, too. That means no vacations for a year. Not a problem for me considering I understand the benefits.
     
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  36. futuremathsprof

    futuremathsprof Aficionado

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    You are smart! I like that you are able to think in the long term and not the short term like so many people. For example, I just got paid today and I invested ~83% of it as soon as I woke up (I always set my alarm on payday for the precise moment for when my funds are directed deposited into my checking, lol).
     
    Last edited: Aug 2, 2019
  37. whizkid

    whizkid Habitué

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    Nov 24, 2019

    Christmas club is a good way to save to have extra spending money for the holidays. Not sure who all participate in one, but I just drained my account.
     
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  38. futuremathsprof

    futuremathsprof Aficionado

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    What are you buying? You can’t just leave us hanging like that, lol! Tell me all of the juicy details, haha! :D
     
  39. Ima Teacher

    Ima Teacher Maven

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    Nov 24, 2019

    My BFF has always done a Christmas club account.

    I did most all of my shopping today online. I just have to grab stocking stuffers and I’m finished. We buy pretty much what we want all year, so we don’t need to do anything extravagant for Christmas.
     
  40. TeacherNY

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    For the last 2 years I have done a jar with the "put in $1 the first week of the year, $2 the second week", etc. I accumulated a lot of money for Christmas that way
     
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  41. futuremathsprof

    futuremathsprof Aficionado

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    Nov 25, 2019

    Yay, a finite arithmetic series with a common difference of 1! The nth partial sum, where n=52, is thus $1,378 at week 52, which is a lot of money.

    For those of you interested, I got this by letting a_1 = $1 in the first week and a_52 = $52 in week 52 (Christmas) and then using the formula for sum of a finite arithmetic series. $1,378 is the sum of the first 52 natural numbers (1, 2, 3, ... , 51, 52).

    Go mathematics, haha!
     
    Last edited: Nov 25, 2019

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