Mr. Howard 3rd grade
Make
Make Cents
In this issue, we’re sharing how teachers spend their money, plus advice and basic tips on saving, investing, and more.
teachers and their money moves this Teacher Appreciation Week
Espinal is a Teach For America alum (NY ’11) and financial educator.
THE EDITION
Yanely Espinal @missbehelpful The Financial Gym @thefinancialgym Kyle Cohen @mr.kylecohen TREATYO’SELF
MEET OUR FRIENDS HELLO!
Celebrating
It
is a financial literacy zine for educators who want to up their money game and personal finance skills.
Yanely
A personal financial services company that whips your assets into shape! 01.
Kyle is a Teach For America alum (OH ’18) and 4th grade teacher.
EVERYTHING COUNTS
Educators reveal their purchases those driven by both a passion for their classroom and a need for self-care
THE WEIRDEST THING I’VE EVER BOUGHT FOR MY CLASSROOM...
freeze-dried bugs (for eating)
Emily, 1st grade teacher
tiny violins
a pet fish for our assistant principal
Perla, 5th grade teacher Allison, middle school math
02.
MY
matcha or boba sushi pizza mac n cheese
TREAT YOSELF MEAL IS...
MISS BE HELPFUL’S
FINANCE ADVICE FOR TEACHERS
In this quick guide, Yanely Espinal, Teach For America alum (NY ‘11) and financial educator, outlines the top budgetary priorities every teacher should consider.
BOOK AN ADVICE-ONLY FIDUCIARY ADVISOR to support budget planning, raising your credit score, and setting savings and investing goals. Having an advisor will make you feel more secure and well-informed in your financial decisions.
WATCH OUT!
Somefinancialadvisorstakea percentageofyourentire accountbalanceattheendof theyear Anadvice-only fiduciaryadvisorchargesbythe sessionorhour–likeatherapist!
SIGN UP FOR A 403(B) PLAN AND INQUIRE ABOUT WELLDIVERSIFIED INDEX FUNDS. This helps you spread your money out and buy many different stocks across different industries.
HOT TIP
Always ask which funds come with the lowest expense ratio –meaning, which funds charge you the lowest rate per year. Studies show that the expense ratio is the best indicator of the return on your investment. Think about it like this: the less you pay, the more likely you are to get the best return on your investment.
03.
THE PERFECT PLACE FOR SHADE
INVESTING
SAVINGS
This is the money you earn but don’t spend.
You can keep savings in different “products” to access at any time (e.g. checking accounts, savings accounts, and certificates of deposit).
While your savings will always be readily available, they may not keep up with inflation. AKA money in savings do not typically grow.
This is money that grows.
Investment products include bonds, stocks, mutual funds, real estate, and commodities such as gold and silver.
Investing includes a bit of risk. The amount you invest is called principal, and there’s a danger of losing your principal. However, there’s always an opportunity for the money to grow.
05.
OTHER THINGS YOU SHOULD KNOW
Investing can feel a bit daunting, so one of the first investments you can make is in a retirement plan offered by your employer. You can make automatic contributions to your plan from your paycheck. Many public schools and non-profit private schools offer 403(b) and/or 457(b) retirement plans.
NOW PLAYING
Money Trees
Kendrick Lamar
Money
Cardi B
MOOD 4 EVA
Beyoncé
Don’t put all your eggs in one basket! Diversification is a term to keep in mind. It means spreading money among various investments and is the best way to protect yourself against risk. It doesn’t prevent your investments from being impacted if the market drops, but diversifying can reduce the overall impact on your money.
Your savings and investment approaches depend on your goals. If you have a long-term goal like saving for retirement, investing is the way. If you have a short-term goal, five years or less, avoid high-risk investments and come up with a savings plan (e.g. budget your paychecks to include stowing away money).
06.
68
@mr.kylecohen
A SPENDING JOURNAL BY MR. KYLE COHEN 07.
Food is my largest expense, aside from home costs, utilities, and bills. covers my breakfasts, lunches, and dinners for the week. $
WHAT I SPENT THIS WEEK
This was a chill dining out week, so I spent This also includes some coffees. .$89
35
GRAND TOTAL: 197$ $ for gasoline.
5
$ car wash - I have a monthly membership.
08.
CUT CLASSROOM COSTS
shipped to your classroom!
request supplies for specific projects!
search for your local groups!
apply for grants from nonprofits like
or search for other local opportunities! free art supplies for NYC teachers!
AMAZON WISHLIST BUY NOTHING SUPPLY A TEACHER MATERIALS FOR THE ARTS DONORS CHOOSE up to 10 20 30 40 25 15% 50% 60% 20% % % % % Get a teacher discount when shopping at certain businesses (just provide or verify your ID). SHOPPING DISCOUNTS MICHAEL’S REEBOK ROTHY’S ADOBE CREATIVE CLOUDMATTRESS FIRM SAMSUNG TARTE COSMETICS AT&T EDUCATOR TAX DEDUCTION BOOKS - SUPPLIESPROFESSIONAL DEVELOPMENT $300 UPTO
can take a deduction for certain educator expenses. USE IT FOR STUDENT LOAN FORGIVENESS FOR TEACHERS treatyo’self USE THESE DEALS AND DISCOUNTS FOR TEACHERS TO PUBLIC SERVICE LOAN FORGIVENESS TEACHER LOAN FORGIVENESS PERKINS LOAN
STATE-SPONSORED STUDENT LOAN FORGIVENESS
120 payments
employer
up
program
100%
your Federal Perkins Loan(s) if you teach at a lowincome school or
you teach certain subjects 09.
You
CANCELLATION
PROGRAMS
while working for a qualifying
get
to $5,000 / $17,500 after 5 complete and consecutive years of teaching at a qualifying school This
forgives up to
of
if
HELLO SHARKS HELLO SHARKS
A 2nd grade class shared their dream education budgets and how they would use the funds.
Hey Sharks,
I am requesting $20 to fund a field trip to Hershey Park!
Sincerely, Josiah
Hello Sharks,
My teachers need like $50 for savings. My school needs $5 or $10 for field trips. Maybe $30.
Thank you, Journee
Hi Sharks, We should get GOOGLE dollars!
A student in STEM, Max
what would you ask for?
Hello Sharks,
I don’t think my teachers or school need $100 because that’s so much money.
Fiscally conservative, Ryleigh
We should have infinity dollars to spend on Louis, Gucci, and bags, and a big TV.
A high roller, Kalii
Sharks,
We should get $1,000 so we can get better materials for class.
You can Venmo us, Khloe
