Make It Make Cents - Treat Yourself Edition

A TEACH FOR AMERICA ZINE

MAKE IT MAKE CENTS

Mr. Howard 3rd grade

ISSUE 01 THE TREAT YO’ SELF EDITION

HELLO! Make It Make Cents is a financial literacy zine for educators who want to up their money game and personal finance skills.

In this issue, we’re sharing how teachers spend their money, plus advice and basic tips on saving, investing, and more.

THE

TREAT YO’ SELF EDITION Celebrating teachers and their money moves this Teacher Appreciation Week.

MEET OUR FRIENDS Yanely Espinal

Kyle Cohen

@missbehelpful

@mr.kylecohen

Yanely Espinal is a Teach For America alum (NY ’11) and financial educator.

Kyle is a Teach For America alum (OH ’18) and 4th grade teacher.

The Financial Gym @thefinancialgym A personal financial services company that whips your assets into shape!

01.

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 Perla, 5th grade teacher

MY TREAT YOSELF MEAL IS...

a pet fish for our assistant principal

Allison, middle school math

mac n cheese

sushi matcha or boba

pizza 02.

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! Some financial advisors take a percentage of your entire account balance at the end of the year. An advice-only fiduciary advisor charges by the session or hour – like a therapist!

03.

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.

silly little drink

“Hoping to d raw the summer wea ther closer with a fruity coffee!”

Elise, Elementa ry

Music

We asked teachers to share their coffee orders—because everyone needs a silly little drink to start their day.

“Fro plac m a loca e ow l cof in th ned by s fee om e com mun eone Giuli i ty!” ano, 10 grad th and e En glish 11th

Jessica (5th a nd 6th grade Math) and Ku rt (K-12 Gene ral Music) are ma rried – so naturally, co ffee runs are enjoyed toge ther.

04.

THE PERFECT PLACE FOR SHADE 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.

INVESTING 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.

WHAT I SPENT THIS WEEK A SPENDING JOURNAL BY MR. KYLE COHEN @mr.kylecohen

$

68

covers my breakfasts, lunches, and dinners for the week.

07.

Food is my l a expense, as rgest id from home e c utilities, an osts, d bills.

This was a chill dining out week, so I spent $

89

.

This also includes some coffees.

$

35

$

for gasoline.

5

car wash - I have a monthly membership.

GRAND TOTAL:

$

197

08.

USE THESE DEALS AND DISCOUNTS FOR TEACHERS TO

treat yo’ self EDUCATOR TAX DEDUCTION You can take a deduction for certain educator expenses.

UP TO $

300

USE IT FOR BOOKS - SUPPLIES PROFESSIONAL DEVELOPMENT

SHOPPING DISCOUNTS Get a teacher discount when shopping at certain businesses (just provide or verify your ID).

CUT CLASSROOM COSTS AMAZON WISHLIST

DONORS CHOOSE

shipped to your classroom!

request supplies for specific projects!

MATERIALS FOR THE ARTS

BUY NOTHING

free art supplies for NYC teachers!

search for your local groups!

apply for grants from nonprofits like

SUPPLY A TEACHER or search for other local opportunities!

MICHAEL’S

ROTHY’S

TARTE COSMETICS

15%

20 %

40 %

REEBOK

MATTRESS FIRM

AT&T

50%

10-20 %

25 %

STUDENT LOAN FORGIVENESS FOR TEACHERS

PUBLIC SERVICE LOAN FORGIVENESS 120 payments while working for a qualifying employer

TEACHER LOAN FORGIVENESS get up to $5,000 / $17,500 after 5 complete and consecutive years of teaching at a qualifying school

SAMSUNG ADOBE CREATIVE CLOUD

09.

60%

up to

30 %

PERKINS LOAN CANCELLATION This program forgives up to 100% of your Federal Perkins Loan(s) if you teach at a lowincome school or if you teach certain subjects

STATE-SPONSORED STUDENT LOAN FORGIVENESS PROGRAMS

HELLO SHARKS

what would you ask for?

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,

Hello Sharks, I don’t think my teachers or school need $100 because that’s so much money.

Fiscally conservative, Ryleigh Dear Sharks,

My teachers need like $50 for savings. My school needs $5 or $10 for field trips. Maybe $30.

infinity dollars We should have is, Gucci, and to spend on Lou TV. bags, and a big

Thank you, Journee

A high roller, Kalii

Hi Sharks,

Sharks,

We should get GOOGLE dollars!

We should get $1,000 so we can get better materials for class.

A student in STEM, Max

You can Venmo us, Khloe

COMIN

G SOON

How do es you fuel yo r money ur fun ?

@TEACHFORAMERICA

:

TEACHFORAMERICA.ORG