Find the Money

I Get It—You're Thinking: "Where's the Money Supposed to Come From?"

"Coach, this all sounds great, but I'm living paycheck to paycheck. Where am I supposed to find an extra $200 a month?"

And after 31 years in the classroom, I get it. Teacher salary + real life = tight budget.

But here's the truth most teachers miss: Some teachers discover they already have the money — it's just leaking out in places they haven't noticed yet.

I'm not talking about cutting out coffee. I'm not telling you to pick up a second job (though I'll share how I did that too). I'm talking about redirecting what you're already spending so you can invest it instead.

Coach Marty says:

There were years I was living paycheck to paycheck too — I know exactly what that feels like. Over 31 years, I learned that the path forward usually has two sides: finding places where money is quietly leaking out of your budget, and discovering income opportunities that might already be sitting right at your school. Not every strategy in this module will apply to everyone — every budget and every school is different. But in this module, my hope is that teachers will find at least one thing that moves the needle. That's what this module is about.

Step 1: The Mindset Shift

Before we dive into strategies, here's a mindset shift many educators find helpful: thinking about money as something to redirect, not sacrifice.

This is NOT about:

• Feeling guilty about your spending
• Cutting out everything you enjoy
• Working yourself into the ground

This IS about:

• Being intentional with what you're already spending
• Finding leaks you didn't even know existed
• Redirecting that money toward your future self

Think of it this way: You're not "giving up" money. You're just moving it from one pocket to another. From the "leak" pocket to the "wealth-building" pocket.

Step 2: The Big Wins (Low-Hanging Fruit)

Let's start with the easy stuff — the places where money is leaking out without you even realizing it.

Here is what the data shows: housing, transportation, and food are the three biggest line items in most household budgets. If you want to make changes that actually move the needle, those three categories give you the biggest bang for your buck. Keep that in mind as you work through these strategies — some of the biggest wins below attack all three.

I moved into a studio apartment to cut my housing costs — that story is in Module 1, and it was one of the biggest financial moves I ever made.

1. The Car Payment Trap

According to Experian's State of the Automotive Finance Market report, the average new car payment in America is around $740/month. For many teachers, that's more than they contribute to their 403(b) each month. And here's the thing — a car starts losing value the moment you drive it off the lot. Meanwhile, that same money invested would be growing.

Coach Marty's Car Story:

I bought a used 2013 Honda Civic in 2015 and drove it for 9 years until 2024. It took me a few years to pay it off, but then I drove it with no payments for about 6 years. It ended up with over 200,000 miles on it, but it was a great car and drove just fine.

It would have been easy to go out and get a new car — start the whole payment process all over again. But by that point, I had a different mindset. I knew that continuing to drive this paid-off car and not taking on a $400 or $500 monthly payment would help me start my investing journey. Every month without a car payment was money I could redirect toward my 403(b) and 457(b). The years I ended up driving the paid-off Civic were some of the most important years of my financial journey.

Potential Savings: $300–$700+/month (by keeping your current car longer)

2. The Eating Out Reality Check

This one is personal — eating out was one of my biggest money leaks. A $15 lunch here, a $40 dinner there — it adds up fast. The average American household spends over $300/month eating out, and many spend far more without realizing it. Check your bank statement for the last 30 days and add up every restaurant, fast food, and coffee shop purchase. The number will probably surprise you.

You don't have to stop completely — but cutting back even halfway can free up $150–$200/month that goes straight toward your retirement.

Savings: $150–$200/month

3. The Cell Phone Bill Hack (MVNOs)

This may be one of the most overlooked money-saving moves for teachers. If you're paying $70, $80, or even $100+/month to Verizon, AT&T, or T-Mobile — many educators find they're paying more than necessary.

What's an MVNO? A Mobile Virtual Network Operator is a wireless carrier that doesn't own the towers — they lease them from the big three. That means in many areas, you get access to the same underlying network — just without the massive overhead costs that get passed on to you.

Every major carrier has MVNOs that run on their network:

You keep your same phone, same phone number, same coverage area. The only thing that changes is the bill — dramatically.

Potential Savings: $50–$140/month per line

Coach Marty's MVNO Story:

I switched from Verizon to Visible, and my bill went from roughly $100+/month down to just $30/month. That's about $70 in savings every single month — or over $840/year — for the exact same Verizon network. I still get unlimited talk, text, data, 5G, hotspot, and even smartwatch service. The onboarding process was painless — took less than 30 minutes, and I honestly cannot tell a single difference from when I was with Verizon. For many educators, this can be one of the easiest savings wins available. If you do nothing else from this module, at least look up which MVNOs run on your carrier's network. Your future self will thank you.

4. The Subscription Audit

Streaming services, app subscriptions, gym memberships you forgot about, Amazon Prime add-ons — they add up FAST.

Total Potential Savings: $65–$85/month

Coach Marty's tip: I switched to YouTube TV years ago and saved $50–$100/month instantly. Other options include Hulu + Live TV, Sling TV, or even free services like Pluto TV paired with a $20 antenna.

5. Grocery Strategies

• Meal prep on Sundays: Cook 3 dinners at once, portion them out. Saves time AND money during the week.
• Shop with a list: Impulse buys add 20–30% to your grocery bill. Stick to the list.
• Generic brands: The store brand cereal is the same cereal. Save 30–40% on groceries just by going generic.

Savings: $100–$150/month

6. The Internet Bill You Never Question

Here's one most people overlook: your internet bill. You signed up years ago, maybe got a promotional rate that expired, and now you're quietly paying $80, $100, or more per month without ever checking if there's a better option. Sound familiar?

Four ways to cut your internet bill:

• Call your provider and negotiate. Tell them you're considering switching. Many providers will drop your rate $20–$40/month just to keep you. It's a 15-minute phone call that could save you hundreds a year. Sometimes new plans become available that weren't there when you first signed up — this alone is potential money savings.
• Switch to wireless home internet. Examples like T-Mobile 5G Home Internet or Verizon 5G Home have historically run around $50/month with no contracts and no equipment fees (current pricing varies by area). Same concept as the MVNO hack — the technology has caught up, and you might not need a traditional cable internet connection anymore.
• Downgrade your speed. This is the big one most people miss. You might be paying for 500 Mbps or even a gigabit plan when you don't need anywhere close to that.
• Ask about educator or employee discounts. Some regional providers like AT&T and Cox occasionally offer them — but like phone discounts, they're rarely advertised. A 2-minute ask at the end of your negotiation call costs nothing.

Coach Marty's tip: I dropped to 100 Mbps and noticed zero difference — no buffering, no issues. Unless you have competitive gamers at home, you probably don't need the speed you're paying for.

Potential Savings: $20–$60/month

7. The Insurance Review

When's the last time you actually shopped around on your insurance? Most people set it and forget it — and quietly overpay for years. A single afternoon of calls could save you $100+/month.

Your Insurance Checklist — Call and Ask:

• Auto insurance — Ask your current carrier for any educator, low-mileage, safe driver, or bundling discounts. Then call 1-2 competitors and ask the same.
• Home or renters insurance — Often cheapest when bundled with auto. If you're renting, many teachers skip this entirely — it's usually $10–$20/month and worth having.
• Life insurance — If you have employer coverage through your district, check if it's enough. Term life is almost always cheaper than what's offered through work.

Examples of Budget-Friendly Carriers by Category:

• Auto: Geico, Progressive, State Farm
• Home/Renters: Lemonade (app-based, no agents, instant quotes), State Farm, Allstate
• Life (term): Haven Life, Bestow, Banner Life — all online, no pushy agents
• Bundle discount: State Farm and Allstate are consistently strong for auto + home bundles

Potential Savings: $50–$150/month

Rates vary significantly by location, driving record, and coverage needs. These are examples of commonly cited budget-friendly options — always compare at least 2–3 quotes before switching.

8. Teacher-Specific Money Leaks

Let's talk about the spending that's unique to teachers:

• Classroom supplies you buy yourself: Set a hard monthly limit. Use DonorsChoose.org to crowdfund supplies instead of paying out-of-pocket.
• Lunch spending at school: Buying lunch every day = $8/day × 180 school days = $1,440/year. Meal prep on Sundays. Even cutting this in half saves you $720/year. I started bringing my own lunch about 10 years into my career — that was a lot of savings over the next 21 years!
• Coffee runs: $5/day × 5 days × 36 weeks = $900/year. Make coffee at home, bring a thermos. Save $750+/year.

Total Potential Savings: $100–$150/month

Quick Tax Tip: If you spend your own money on classroom supplies, books, or professional development, you may be eligible for the Educator Expense Deduction (up to $350 for 2026). Recent tax law changes also expanded what educators can deduct starting in 2026. Save your receipts — your tax preparer or tax software will handle the details.

9. The Teacher Discount Goldmine

You're leaving money on the table if you're not using your teacher ID for discounts:

• Target: 15% off school supplies in July/August
• Apple: Education pricing on laptops/iPads
• AT&T, Verizon, T-Mobile: Teacher discounts on phone plans
• Hotels & travel: Many chains offer teacher rates
• Restaurants: Chipotle, Buffalo Wild Wings, and others have teacher appreciation days

Always ask: "Do you have a teacher discount?" Worst case, they say no. Best case, you save 10–20%.

Coach Marty says:

Here's a mental trick I picked up from the How to Money podcast that changed how I think about every purchase. They call it "Stranger Cash."

Imagine you're standing in line at the store with a new lawnmower in your cart — $350. Your old one still works fine, but this one is nicer. Right before you swipe your card, a stranger walks up and says: "I'll give you $350 cash for that lawnmower right now."

Would you take the cash? Most people would — without hesitating. But here's the thing: walking to the register IS handing a stranger $350. You're trading your cash for something you don't need yet.

I taught this to my kids, and now they use it on everything. New shoes when the old ones are fine? Stranger cash. Upgraded headphones? Stranger cash. That $8 lunch when you packed one this morning? Stranger cash.

Next time you're about to buy something, ask yourself: "Would I take the cash instead?" If the answer is yes, put it back — and invest the difference.

Step 3: Hidden Paychecks — How I Found Extra Money Right at School

Sometimes cutting expenses isn't enough. Here's how I brought in more income over 31 years — strategies many educators have used too.

📈 The Biggest Hidden Paycheck: Salary Schedule Advancement

Every strategy above — summer school, prep period coverage, after-school programs — puts extra money in your pocket this year. But there's one move that can create a long-term raise that continues for the rest of your career: moving across your salary schedule.

Most teacher salary schedules have two dimensions: steps (years of experience, which happen automatically) and columns (education units, which require action). Steps move you down. Units move you across. And moving across is where the real money lives.

Here's the math that changes everything: A teacher who spends $2,000–$3,000 on coursework to move one column might earn an extra $3,000–$5,000 per year — every year, for the rest of their career. That means the cost is recovered in less than 12 months, and over 20 years, that single investment could generate $60,000–$100,000+ in additional lifetime earnings, depending on their specific salary schedule and years remaining. In many pension systems, it also increases your final average salary, which could result in a higher monthly pension check.

The good news? It's easier and cheaper than ever to earn units. Here are some common paths educators use:

• Online courses: Many accredited programs now offer affordable, self-paced courses specifically designed for teacher salary advancement — often for a fraction of what a traditional university charges
• District-sponsored professional development: Some districts offer free or subsidized coursework that counts toward column movement — check with your HR department
• Community college classes: Often the most affordable per-unit option, and many are available evenings and online
• Master's degree programs: If you're going to accumulate units anyway, consider a program that leads to a degree — you'll earn the column advancement plus a master's stipend
• Union-sponsored programs: Your state or local teachers' union may offer free university credits for salary advancement. For example, active CTA members in California can earn up to 12 free units per year through conferences and on-demand workshops via the CTA University Credit Program through CSU Chico — check with your union to see what's available in your state

Coach Marty says:

Before spending on any class, consider pulling up your district's salary schedule to see how many units you need to reach the next column — and what that column pays. The math is worth reviewing. When you see the return on investment in black and white, it stops feeling like an expense and starts looking like what it really is: one of the best investments you can make in your teaching career.

One more thing: before you pay for any course, check with your HR or payroll department to make sure the units will be accepted for salary advancement. Many districts have a pre-approval process or a specific form to fill out. Taking five minutes to confirm upfront can save you time, money, and frustration down the road.

Step 4: The Teacher Cashflow Calendar

Teachers have a unique challenge: uneven income and predictable expense surges.

The Power of Sinking Funds

Before we get into the teacher cashflow calendar, let's talk about one of the most underrated budgeting tools out there: sinking funds.

A sinking fund is simply a savings account set aside for a specific future expense. Instead of scrambling when a big bill hits — car insurance, back-to-school costs, a vacation — you save a little bit each month so the money is already there when you need it.

The beauty of sinking funds is that you can have as many as you want. Some examples:

• Emergency fund — 3–6 months of expenses for the unexpected
• Taxes — set aside money if you have side income
• September Surge fund — save all summer so back-to-school costs don't wreck your budget
• Vacation fund — save $200/month and you've got $2,400 by summer
• Car repair fund — because something WILL break eventually

Coach Marty's Sinking Fund Setup:

Quick tip on where to keep your sinking funds: Online banks like Capital One 360, Ally, and CIT Bank (mentioned as educational examples, not endorsements) consistently offer much higher interest rates than traditional brick-and-mortar banks. Why? They don't have the overhead of physical branches, tellers, and buildings — so they pass those savings on to you in the form of better rates. While your local bank might offer 0.01–0.10% on savings, online banks are paying 3%+ APY right now.

I personally use Capital One 360 for all my sinking funds, and I love it. You can create as many individual savings accounts as you want — emergency fund, taxes, vacation, whatever you need — and they're all earning interest. The rate I earn changes regularly because high-yield savings rates follow the Federal Reserve — when the Fed raises rates, your savings earn more; when they cut, your rate drops too. Rates change frequently, so always check your bank's current rate. Either way, your money is working for you while it sits there waiting. It's the easiest setup in the world — takes 10 minutes, and suddenly your money has a purpose.

The 10–11 Month vs. 12-Month Pay Decision

If your district offers 12-month pay (spreading your 10 or 11 months of work across the whole year), many educators find it worth considering. Here's why:

• Consistent cashflow: No "summer scramble" to cover bills
• Easier budgeting: Same paycheck every month year-round
• Forces discipline: Can't blow your whole paycheck in summer because you're getting paid less per month

If your district does NOT offer 12-month pay:

• Set up a sinking fund specifically for those unpaid summer months
• This is not a surprise. If you're a 10 or 11-month pay teacher, you know those months are coming every single year — so plan for them

The September Surge

September hits and suddenly you're buying:

• New clothes for work
• Classroom supplies
• School supplies for your own kids
• Back-to-school fees

Solution: Create a "September Fund" in July/August. Set aside $200/month in summer so September doesn't blow your budget.

The $300 Challenge: Find YOUR Money

Now it's your turn. Let's add it all up and see where YOU can find $300/month (or more).

Here's the reality: Many teachers find $250–$500/month without working a second job. And if you DO need more income, the strategies I shared above can add another $300–$800/month depending on what you're willing to do.

The money is there. You just had to learn how to see it.

🎯 Key Takeaways

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