Money Matters

Updated 31 December 2014 

Basic Money Matters
Money is always an issue, but there are also other things to take into consideration such as perks and benefits and the cost of living. When moving abroad, you’ll have to factor in start-up costs as well. Here are some good websites for learning about saving money, some money tips for teachers, investment tips for teachers, and how to teach abroad and save money. There are also a good number of money and career books geared towards teachers.

Be sure to find out about your country’s tax laws as well. Some countries, like the US require citizens to file US Taxes every year, even if they don’t owe anything.

Salary and Benefits
Always try to get the best job possible. Negotiating your contract is something you should always try to do. You'll also need to learn about the pros and cons of getting a housing allowance and the pros and cons of getting free housing. Be careful if your employer wants you to be an independent contractor. If you do this you might not have many rights. If you're lucky enough to have an office budget here are somethings you can buy.

Most employers will give you insurance, but if yours won’t it’s worth getting your own. If you have a baby overseas, make sure you learn about maternity leave. If you have dependents make sure you have life insurance.

With a bit of experience and some qualifications, you should be able to get a job with a high salary. Don't forget to budget in order to save the most you can; and although it always seems far off, it’s never too early to save for retirement.

Extra Income
If you’re looking to make extra money you, there are many things you can do such as teaching other classes, getting private students, learning tips for teaching private classes, and using the internet to teach online, or working work online. Some teachers teach camps and at summer schools. If you're looking to work for yourself you might be interested in getting a self-employment visa. Whatever you do, make sure you're not teaching English illegally.

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