Our society seems to carry an idea that a career as a teacher bears minimal financial allure. It doesn’t evoke the same type of damn-I’m-making-bank mentality as say an attorney, engineer or doctor. Often times, teachers aren’t viewed as successful as these other jobs, but I beg to differ.
First, I get paid 11 months out of the year to work 180 days. I’m in school from mid-August to early-June and I get all major holidays off. Our district gives a week off for Thanksgiving, 2 weeks for Christmas and a week for spring break. This doesn’t include the sprinkle of minimum school days and three day weekends between that. It’s especially wonderful when I work a week in June but I get paid for the entire month of June.
Granted, the first few years of teaching weren’t this amazing. I felt I was slaving away for pennies. All holidays and breaks were considered curriculum development/grading days. I also enlisted my husband as a permanent T.A.–organizing papers, stamping, logging in grades. Like most teachers, I was completely consumed with work my first few years. Today, I’m happy to say that I have a pretty solid curriculum I’m continuously tweaking and a classroom management style that works for me.
With this type of work schedule and comfort in my craft, I delved into a side hustle–tutoring. As a credentialed teacher working at a great school district, I am able to charge $60/hour per student. I work about 5.5 hours a week. That’s $330 a week, $1320 a month! To learn how to make tutoring your side hustle, check out our guest post on Millennial Money Guide.
To total up my monthly net pay
During the summer, I tutor full time and I get paid from my district every month except for July. Conservatively, I am able to tutor at least 10 hours a week during the summer months. That’s $600 a week, $2400 a month on top of my regular pay.
Summer Monthly Net Pay
But..but..you don’t get paid in July! You’re right. I don’t. Another perk about being a teacher is that I’m eligible for something called Summertime Savings. I cash that out every July.
July Net Pay
Summertime Savings: $22,000
Total: $24,400—IN ONE MONTH! WAAAHHHH?!
To learn about this witchcraft called Summertime Savings, click here.