One of the many fabulous aspects of being a teacher is the many opportunities for extra income that crop up throughout the school year. These are the sources of my extra income this year, listed in the order that they are coming up. I only listed the ones that are basically a guarantee, with the exception of summer school. I included it because I’ve been offered a position for the past 3 years, but it’s completely dependent on enrollment, so nothing’s definite until literally the last minute. I also included my approximate expected income from each, after taxes, and how I plan to use the money.
– Staff development stipends, ongoing throughout November: $180
These should start rolling in on my next paycheck, and will all go towards Christmas gifts.
– Book club, January or February: $300
This will go on my car, or to replenish my Freedom Fun if I end up needing to use it for holiday expenses.
– Supervising SAT “tutoring” after school, February-June: $1,000
This will all go towards paying off my car, and, incidentally, will probably be the easiest money I earn all year.
– Test prep for AP exams, April and May: $400
– Stipend for mentoring new teachers, June: $560
– Reading exams for AP Human Geography, July: $1,200
This will be used to finish off my car payoff if necessary, and the rest will go into my Freedom Fund.
– Summer school, July-August: $3,000
This will go straight into my Freedom Fund, and should polish it off if all goes according to plan.
Of course, this plan will only be executed if everything goes totally smoothly – no car repairs or other unexpected expenses pop up. But I think having a plan is important; I made a ton of extra income my first year of teaching, but basically pissed it all away on frivolous stuff. I’m not letting that happen again!