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How to save money from salary?

It is pretty well known that teaching is not a position where you are going to make a lot of money. Our economic system is based in capitalism and part of that means that the market dictates the distribution of money. While this works in a lot of ways, there are certain public utilities that we need to commit money to, which is why we pay taxes. In a normal system, price and demand are factors that determine how much profit you have and that leads to what you are able to pay your employees. In the world of teaching, you are going to get paid based on what the school brings in, but the school is not bringing any money in. In public school, you are not required to pay tuition, so the money comes from allocation by the county. There are some schools able to pay large salaries to teachers, but the teacher pay scale varies greatly. Not a lot of teachers are able to save money, but there are a few ways that you can focus on that might help you add a little to your bank account. Here are a few tips on how to save money from salary.

Make a separate account for savings

A lot of people get a bank account and just have one place where all of their money is. You might get a debit card that allows you to draw directly from this account or you can access it as checking or through ATMs. There is probably some interest rate for saving, but it is not likely a lot. When you look at that account, you might not feel the limits of that amount and spend indiscriminately as long as it looks healthy enough that you are not paycheck to paycheck. In that case, take $100 out per month and put them in a savings account. One of the best money saving tips I can give is to talk to your bank to find out if you can get a better interest rate on an account. You might make money on your money. The longer you are adding, the more it will grow and grow.

Tutoring

Other than just making your money from teaching, you might seek a side hustle to combat the criminally low average teacher salary. Using the same skills you have from teaching on a regular basis, you can pick up some extra money and use that as your savings while you live off of the rest.