Summertime for teachers means a break from students, lesson plans and homework. But it can also mean a break in their paycheck. Some educators have their paychecks broken down into smaller amounts so they get paid equally throughout the year. Others are not able to take advantage of that same program. When paychecks stop, there are many ways to make sure you are prepared for this change. Here are a few ways you can help bridge that gap in you budget.
Get a Summer Job
It might not sound glamorous at first, but how about trying something outside of the box? Many lifeguard positions are summer only, and who doesn’t want to work on their tan while getting a paycheck. If lifeguarding isn’t for you, tutoring or babysitting are two other great summertime jobs. There are a number of options to help get you through the summer with some extra change in your pocket and maintain a productive lifestyle.
Summer Savings/12 Month Pay Accounts
Many financial institutions offer promotions specifically for school staff. At Insight, qualified educators and school employees can receive up to $2,000 – up to the amount of your most recent net paycheck – and it’s paid back in just 12 months with no interest. These accounts can keep you afloat while your summertime funds dry up.
Good Ol’ Fashioned Frugality
Many school employees find themselves paying their summertime bills and then relying on the few remaining dollars to make it through. This method may work, but it doesn’t leave you much room for the unexpected. Even something like a clogged toilet can become a big deal when your next paycheck is 2 months away.
Whatever your method, you should always take a moment to evaluate your means of budgeting. No one is perfect and you may consider one of the other options for a summer to see how it works.