Grow Your Bank Account: Simple Tips to Fatten your Wallet - New Jersey Teachers Lounge

Grow Your Bank Account: Simple Tips to Fatten your Wallet

I recently returned a shirt at Marshall’s and sincerely felt that the $19 bucks that I received back was money well-earned. It’s not logical. I know I’m not actually...

I recently returned a shirt at Marshall’s and sincerely felt that the $19 bucks that I received back was money well-earned. It’s not logical. I know I’m not actually making money, but I did spend it—and it could have stayed spent, right?

There are ways to make you FEEL like you are being smart with your money (like buying stuff you don’t need because it’s on sale,)  then there is ACTUALLY getting more money.  Theoretically, it’s simple: Make more, spend less, save more.  It’s not rocket science, but it can be elusive when you’re down in the trenches of buying what you need.  Being in education means that for the most part, you’re riding the salary guide  and surprise raises are not in your future.  You could spend less, but that’s no fun and it may seem impossible if you are already living pretty tight.

How to increase your wealth:

  1. Make More.  I encourage you to develop a legit side-hustle that can earn you more money.  Additionally, it probably makes sense to make money by leveraging your teacher skills.  Tutor, sell your teacher materials on Teachers Pay Teachers, start blogging about what you do best (maybe blog about your classroom, so the time investment doesn’t take you completely away from what you need to get done), and the list goes on.  This way, you can keep on doing what you love, while bringing in some extra cash.
  2. Spend Less.  But how? I don’t necessarily mean just stop buying things altogether, but prioritize how you spend your money.  Don’t stop going out to eat, but cut down on the amount you go out per month by ¾ (i.e. one in four times per month) and use those nights to get together with friends and have a “potluck.”  This way, you aren’t sacrificing any social experiences, but you will certainly be spending less. I found a good list of options for changing your life in small ways that allows the reader to choose what they are willing and wanting to do.  There are 100 options!  So look through and see what can work for you.  Let us know what you choose!
  3. Save.  Look before you buy!  Use coupons, discounts, deals, etc.  If you have a teacher I.D., there are tons of discounts for you!  If a certain company or business doesn’t list that they have a discount for you, don’t be afraid to just ask if there is one, especially for any big purchases!  My husband is a teacher and we knew a few of the options.  When I asked, I found a whole lot more!Check out this list of options found in discounts and deals section!

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