Use teacher discounts, apply for housing aid, budget smart, buy instead of leasing a car, start a side hustle and watch how others live well on less.
It’s gratifying when neighbors and politicians acknowledge that teachers are underpaid. But practical advice can be hard to come by. In fact, financial literacy built especially for teachers is still in its early days.
The vast majority of teachers (93%) pay for classroom supplies out of pocket. But teacher discounts are everywhere, from national chains to local retailers.
Housing is more expensive than ever. The Teacher Next Door program offers grants and assistance with down payments, with no application fees.
Review your expenses and see where you can cut back. Follow the 50/20/30 rule, a proven budget breakdown that works for just about anybody, with any income:
Instead of leasing, buy a car and hold onto it. Once you’ve paid it off, you’ll have more room in your budget.
If you live in an area with multiple school districts, shop around. Look for districts with higher salaries.
Gig work is everywhere and can often accommodate your full-time schedule. Consider doing something completely different, from handyman work to communication consulting.
Financial well-being involves more than cash. It’s about balance, planning and finding your own path. Find inspiration from others, in and out of teaching. Podcasts can be an especially easy way to understand how others cope, prioritize and manage finances.
We can help you make ends meet. Bright studies your spending habits and moves funds and makes card payments when it makes sense for you.
Bright finds the fastest, smartest way to get you debt free, while boosting your credit score and building more savings.
It only takes 2 minutes. Just download the Bright app from the App Store or Google Play. Link your checking account and your cards, set a few goals and let Bright get to work!
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With a postgraduate degree in commerce from The University of Sydney, Pranay has his finger on the pulse of the finance industry. Breaking down complex financial concepts is his forte.