Summer break is a much-needed break for teachers, but it can also be a time of financial stress. Without a steady paycheck, you may struggle to make ends meet during the summer months.
However, with some planning and budgeting, it is possible to make the most of your time off without breaking the bank. Here are some tips to make your next summer break far less stressful!
Start with a Budget
When it comes to preparing for a summer off as a teacher, the first step is the most important – creating your budget. It’s important to have enough money to make ends meet when you’re not teaching, but you also want to have fun during the school year and summer.
It can be tricky to strike that balance. The best way to go about it is to figure out how much money you have coming in during the school year and how much you’re likely to spend on day-to-day items such as groceries, transportation, and utilities. Once you know what you’ve got available, set yourself a realistic budget by prioritizing what’s essential and setting aside money for your summer.
The budget will also let you know if you will need to work during the summer, and how much, so you can plan for that as well.
Cut Back on Monthly Bills
People often take monthly bills for granted, but did you know that you can shop around for better rates on almost everything? This simple act of comparison shopping can lead to significant savings over the course of a year. For teachers who are looking to make it through the summer without a steady teaching income, these savings can be especially important.
You can shop around for better rates on your cell phone bill, television and streaming services, insurance, and more. Take car and home insurance, for example. Freeway Insurance reviews rate the company highly on its ability to help customers find affordable car insurance, even with an imperfect driving record. The company has a high star rating for its other insurance products, as well, like home insurance.
When you can save on monthly bills, you’ll be in a much better position to make it through the summer without your consistent teaching income.
Side Hustles for Extra Cash
If you’re looking to supplement your income during the summer, you can get creative with side hustles that bring in additional revenue each month.
Consider selling some of the educational materials you’ve created online to help other teachers, for example. You can do this throughout the year. You can also offer specialized services, such as tutoring or coaching. Students often look for extra help in specific subjects or with test prep, and teachers are in the perfect position to offer these services.
Enjoy Summer!
Being a teacher has its benefits, and the summer break is definitely one of them. You get some much-needed rest after a long school year and have time for fun and relaxation, but you also don’t earn money from teaching.
With proper planning and the tips above, you can make sure that your summer is filled with rest rather than stress about finances. Enjoy your summer break!
