Category Archives: Excllent Advice for Teaching

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Excellent Advice For Teaching 002: Smart Ways to Make Your Money Work Harder

Things I Wish I Knew Earlier in My Career in Education

Smart Ways to Make Your Money Work Harder as an Educator

Lesson: Take Action Early in Your Teaching Career to Put Your Money to Good Work. You can get big results over time with just a little bit of money.

Image created by description from Kelly Croy put into Chat GPT4

Even though teachers might not make as much money as some other jobs, being a teacher is really rewarding and important. But, there are smart things teachers can do with their money right from the start.

When I first started teaching, I used to run out of money all the time. By my third year, when Christmas came around, I didn’t have much money for gifts. That’s when my teacher friends told me about starting a Christmas savings account at our local credit union.

I started putting a little bit of my paycheck into this account every time I got paid, without even seeing the money first. My friends told me to just forget about it and let it grow. And it really worked! Every year, I had money saved up for Christmas and vacations. And when I got a raise, I would save a bit more.

I’ve also learned that teachers have some really good benefits, like retirement plans, that a lot of other jobs don’t have. This is because a little bit of our paycheck goes into retirement savings automatically, which is actually a pretty cool thing. I’ve met people who make three or four times my salary and have nothing saved for retirement. It was sadly ‘something they were always going to get to doing’ but didn’t it. Most people lack the discipline needed to have money.

Even though I wish teachers got paid more, I’ve decided to focus on making the most of what I earn. I was lucky to have friends who gave me great advice.

Here are some smart money tips I’ve learned and you should think about too:

1. Start a Vacation Fund: Put a bit of your paycheck into a savings account that you can’t easily take money out of. Only use this money for special things like Christmas or vacations.
2. Save in a Tax-Free Account: Even starting with a small amount can add up over time. I started an annuity early in my career.
3. Join an Investment Club: It’s a fun way to save money with friends and learn about investing. It inspired me to invest on my own. I had fun. I earned money too, that has really helped my family.
4. Side Hustle: If you can get paid for extra jobs like coaching, use that money for fun activities or to save. Every human should have a side hustle, or two. I chose fun ones for myself like: speaking, writing, artwork and education consulting. Find a fun hobby that can make you some extra money, but remember to save some of it. It’s easier to out-earn financial challenges than out-budget or out-save them. FYI.
5. No Credit Card Debt: Always pay off your credit card every month. Always! No exceptions. So many people get crushed with this one and can’t dig out.
6. Budget: Use a budget to make sure you’re saving money. Know where your money is going. Adjust and adapt. I use Rocket and YNAB.
7. Learn About Money: Read a book or take a class to get smarter about money.
8. Live Within Your Means: Be careful with spending too much on things you don’t need. I see so many people with incredibly high car and home loans! Wowzers! Don’t live like the pretenders on Instagram. This is hard for a lot of people. They want to eat out all the time. Pack your lunch. It pays off.
9. Plan Your Spending: Decide what each part of your paycheck will go towards before you get it. Prepare for upcoming events as best you can. Don’t get alarmed when a surprise expense hits, have some money hidden away for a rainy day.
10. Enjoy Teaching: Remember, being a happy teacher is more important than how much money you make. I know this might tick a lot of teachers off, and I get it. Teachers deserve more money. I agree. My point is that you can’t put a price tag on happiness. If you enjoy teaching, that is priceless. So many people hate their jobs. I don’t.

Remember, saving a little bit at a time can really add up and make your life better.

The following is from Yahoo Finance: 

“However, popular personal finance expert Dave Ramsey recently shared that teachers are becoming millionaires despite having low salaries. According to a study conducted by Ramsey Solutions of over 10,000 millionaires, the top five careers for millionaires were engineer, accountant, teacher, management, and attorney. Feb 18, 2024”

Challenge: Talk to the payroll department at your school to automatically save a small part of your paycheck. Also, start with $20 to $40 each month for an investment in some stock or start a club. At the end of your career, like my 33 years, you’ll be thankful you did. It’s a good start!

Take Action Early in Your Teaching Career to Put Your Money to Good Work. It’s about making good decisions. The more most people make, the more they spend. Use your money smarter!

Always forward,

Kelly

I would like to speak at your event!

Order Kelly’s books, Along Came a Leader and Unthink Before Bed: A Children’s Book on Mindfulness for your personal library.

Educator, Author, Keynote Speaker
Twitter: @kellycroy
Instagram: @kcroy
Website: kellycroy.com and wirededucator.com
Podcast: The Wired Educator Podcast
and of course: Facebook.

Sign-up for Kelly’s newsletter here.

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Excellent Advice For Teaching 001: Record The Journey

Things I Wish I Knew Earlier in My Career in Education

Record the Journey

Lesson: Everyone you meet has something they can teach you. Yes, everyone! It doesn’t matter how old they are, or if some people think they are super successful or not. Everyone knows something you don’t. But here’s the trick: you have to really listen and be open to learning new things.

Image created by text description written by Kelly Croy in Chat GPT 4

Sometimes, we think we know a lot about something, but there’s always more to learn. So many teachers, young and old, just do things their way. Teaching is about collaboration, an eagerness to learn and apply it.  It’s important to listen and keep our minds open to new ideas.

Everything good I’ve accomplished as a teacher I learned from someone else. Sometimes they were teachers in my school, or people I met at conferences, or even someone I learned from online. I saw the awesome things they did, and I wanted to learn how to do them too. So, I asked a lot of questions and tried my best to learn, put my spin on it, and try them out. Sometimes it took many attempts, and a few times it worked great the first time.

Sometimes, people teach us exactly what to do. Other times, they show us what not to do. Both are really helpful.

Don’t be shy to ask others when you need help or have a question. And if you find something that works well, share it with others! That’s how you can be a leader.

Watch what other teachers do and learn from them. Try out what you learn in your own way.

Challenge:  No matter where you are in school or what you’re learning, try to keep track of your adventures in learning. You could write it down in a journal, make a video, or even keep notes on your phone. When you learn something new, write it down and think about how you can use it.

I’ve been keeping track of my teaching journey by making podcasts, writing blogs, and speaking at educational events and conferences. I’ve even written a couple of books. It’s been really fun! I’ve met so many awesome teachers and learned so much. It has even helped my students meet experts in areas they are interest in and learn about places all around the world. It’s provided me with opportunities to travel the world and even helped my family with additional income streams. Most importantly, it made me better and my district better. When we listen to learn and share to help, we level-up and make a difference in the lives of others.

I’m going to write some short posts here about what I’ve learned about teaching in a series titled: Excellent Advice for Teaching. I hope you enjoy them, and maybe even comment and share.

Every single person has something to teach you if you’ll listen and have an open mind, but the thing is most people don’t ask, don’t listen, and don’t apply. An eagerness to learn is better than saying, I’m a life-long learner. Let’s practice learning and model it.

Record the Journey.

Always forward,

Kelly

I would like to speak at your event!

Order Kelly’s books, Along Came a Leader and Unthink Before Bed: A Children’s Book on Mindfulness for your personal library.

Educator, Author, Keynote Speaker
Twitter: @kellycroy
Instagram: @kcroy
Website: kellycroy.com and wirededucator.com
Podcast: The Wired Educator Podcast
and of course: Facebook.

Sign-up for Kelly’s newsletter here.

I had this idea over the weekend to  take a few minutes each day to jot down a short piece of advice I believe I have learned about teaching and post it on @wirededucator to pass it along to the next generation of teachers. That’s how I learned. So, here is my first. (This will be a good practice in consistency too.) #LeadEveryDay #WiredEducator