Featured Motherhood Motivation

Living on a Teacher’s Salary

March 24, 2017

Living on a teacher’s income can be tough. Whether your income is in addition to your spouse’s or you’re living off of one teacher salary like we are, making things happen can be a struggle. But check out that keyword – struggle. Not an impossibility. So today I want to offer some of the ways that our family has made cuts that have enabled us to live off one teacher’s salary without barely making ends meet.

  1. Meal Planning – The way you grocery shop and plan your meals can make a huge impact on your budget. I spend way too much money if I show up to the store without a plan, or if I make our weekly menu based off of cravings. You would be amazed at how much you can save by planning your week’s meals based off of your favorite store’s sales and only sticking to those items.
  2. Cable Alternatives – We are in such a great time to find alternatives to paying monthly for cable! Check out a streaming device and explore the world of Netflix, Hulu, etc. We haven’t missed it a bit!
  3. Health Insurance Alternatives – I didn’t think this would be possible. But there are some great alternatives out there for healthcare coverage! Using my husband’s ISD insurance was not going to be affordable for us at all. Fortunately, we were able to sign our daughter and me up for a healthcare ministry that makes way more sense for our family.
  4. Student Debt – This was another budget buster we didn’t think we could get away from. While my student loans are sticking around, repayment options like “income-based repayment” are available and soooo helpful! I would encourage you to check them out with your lender!
  5. Mortgage – There are so many details involved in this cut. But to make a long story short, my husband and I are in the middle of a “cash-out refinance”. This will allow us to use a portion of the equity we’ve gained in our home to pay off things like student debt. This is definitely something to chat about with your mortgage lender.

These are just half of the cuts and ways we’ve found to save every month! When you really crunch the numbers and search for areas you’re willing to cut back, you’ll be pleasantly surprised. If you’d like to chat or want to see the other ways we’ve saved, I’d love for you to visit my blog at www.thestayathometeacher.blog!

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