How To Effectively Manage Your Low Teacher Salary
Even though educators expend great effort in educating their students, they still have a low teacher salary. Whether under a private or public institution, their compensation is way lower than those working in service or product companies. It can sometimes take great effort for them to manage with their salary until the next pay day. I too experience the same concern as I am a teacher myself. What is difficult in this scenario is that seeing your hard earned money practically disappear in an instant. At some point, your salary will be used to pay debts. At the end of the day, what is left is nothing - not even a cent for me to spend. And this is something I want other educators to avoid. Thus, I present to you some solutions that have proved effective on my end, on managing even a low teacher salary. I hope that some of these will prove valuable insights for your application. Solution # 1: Clear the debts. Although debts are part of our lives as much as possible use your salary to clean up your previous loans before. If you have debts from credit cards or banks, it is necessary to put aside some money each pay day or even take majority of your salary to pay the amount slowly. The longer you delay the payment, the higher the interest will be and the more difficult it is for you to cope with the payment. Solution # 2: Prioritize things. It is a necessity for you to consider what area of your life you should allocate your teacher salary. Whenever possible put an important factor on the ones you need for instance for your card company or bank. In order of priority, you will seethat there are expensesthat are not needed, such as shopping, thus try to stay away from the desire to splurge. What is needed now is to ensure that your salary will be used for debts and necessary expenseslike food, bills and your shelter. You can also divide some few portions on other stuffs so as long as you have allocations on the basics. Solution #3: Sacrifice. If you think your salary is not enough to pay your huge debts and endless interests and some home expenses,then the next big step is to sacrifice. When speaking of sacrifice, you need not deprive yourself of some simple pleasures. This is just a small escape route for you. For example, you can cut probable expenseslike electricity in some lights and appliances. Or you can find a second job that somehow adds to your cash flow. This may be difficult, but this is an important thing to do. Theseare just some of the solutions in the larger scale of things that can gradually raise you from your current debt situation. It's just a question of how effective you are in managing your spending, and debt finances. Also, how resourceful are you is also a big plus. When we look at the perspective of things, there really is no such thing as low teacher salary; it is only question of successful you are in managing your money.
Published on Dec 1, 2010