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Extra Money

November 7th, 2023 at 04:59 pm

As a public school teacher, there aren’t a ton of ways to earn extra money at my job. (I could make extra money tutoring or creating pages for Teachers Pay Teachers, but I mean actually at my job.) One way I can make a little extra money is for class coverage. If a teacher is out and we don’t get a sub, the students still have to go somewhere. We call that class coverage. Up until last year, if I covered a class for a teacher, we received pennies on the dollar of subs or of teachers at the comprehensive high schools (I teach at a continuation high school). I would cover 5 classes in a month and I would get checks of $1.52… You read that right one dollar and fifty-two cents. Last year, our union negotiated for us to get $48 per class for class coverage. (That is still well below what the teachers at the comprehensive school get, but way better than what we were getting.)

We were short subs a lot last month! I had to cover classes 9 times. At $48 per class, that works out to $432 extra before deductions. I am anticipating getting around $300 after all is said and done. All extra pay is paid out on the 10th of each month in my district so on November 10, I’m expecting about $300.

I am planning to put $100 into savings, $100 towards some expensive purchases we have coming up for our kids, and $100 towards debt. I feel like that is a good division of the money.

I am not happy with the low amount of our savings right now. However, with savings plus cash on hand and our sinking funds, we have about two months of bare bones expenses. But I do want to beef that up and I would like to have one month bare bones in our savings. (That is my mid-term financial goal.) I figure adding $100 from unexpected monies was a good use of extra money.

In the near future, we have an expensive purchase planned for each of our kids.* Neither of our kids have chosen to go the traditional college route and we are okay with that. Each kid has a big purchase for their chosen career coming up on the horizon. We are going to help each kid by paying half. Coincidentally, each purchase will be about $1200, so our half will be $600 for each. We adjusted our budgets for October, November, and December to save for these purchases. We increased the amount we will contribute to our “kids” sinking fund so that we should have the full amount we need by the end of December. The $100 I am adding from the extra monies will act as insurance.

The remaining $100 will go towards our credit card debt. The money will come at the perfect time as our payment is due by the 12th of each month. I am happy to have an extra $100 to throw at our debt. I would love to use it all towards our debt, but although that would feel better, I don’t think it would be the wisest thing to do. I think it is far wiser to designate the money as we have and stick to the plan. Otherwise, we would charge the expenses for the kids and be right back where we started.

I’m super excited for the chance to earn a little extra money. Every little bit helps and small things compound to be big things.

*Disclaimer: I know we don’t have to help our children, but we are choosing to do so. That’s why we adjusted our budget and are making sure to have the money saved as opposed to just putting it on the credit card with no plan. It is worth it to us to be in debt a little longer to give our kids some financial help. But it is not worth it to us to go deeper into debt to help them.

3 Responses to “Extra Money”

  1. anonymous Says:

    $1.52 to cover a one hour class is insane. I did substitute teaching back in the mid 90s and even without teaching certification, I got $54.00 a day. Not great when you do the math and realize that I was making less than some babysitters, but it helped to fill in the gaps for awhile until I got a job. I am glad that your union negotiated an improved rate and that you are using the unexpected funds to the good. Big Grin

  2. anonymous Says:

    I think teachers like you should be earning a lot more than their current wage just based on the importance of what they do. Unfortunately, in this country, sports players, actors, and professional wrestlers all earn substantially more. I keep reading in journals how teachers are leaving the field for this and other reasons and I just wonder what will happen if we no longer have teachers. Very sad.

  3. LivingAlmostLarge Says:

    Yay that you got a huge raise!

    You don't have to help your children but if you want to then do it. Finance is all personal.

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