Educators always go above and beyond for their students and, sometimes, itโs on their own dime.
Thatโs why this World Teacherโs Day, weโre sharing ways you can save as teacher. So take a seat, grab pen and notebook, and take jot down some of these savings tips to keep your classroom stocked while sticking to a budget:
Educator tax deductions: Did you know you can claim up to $250 of any unreimbursed expenses for classroom items? Yes, that includes educational items like books, supplies, software โ anything you use in the classroom. As always, be sure to consult your tax professional. Additionally, be sure to ask your accountant if you can claim any certifications, courses, or tuition that you may be eligible for on your taxes.
Track your expenses: Whether your teaching accounting or whatever subject it may be, track your expenses for any classroom purchase that came out of your personal bank account. It important to get a clear picture of the money put into your classroom is being allocated and where thereโs room for change. Be sure to hold onto your receipts to get reimbursed by your school and/or on your taxes!
Ask for donations from parents and local businesses: Be honest about what you need! Parents want their teacher to have everything they need to educate their child. Likewise, community members and local businesses are always looking to support causes, especially if theyโre alumni of the school. Create an online wish list, publish a supply list in the schoolโs newsletter, send an email to parents, or run an ad in the local newspaper.
Share with other educators: Teachers are part of such a caring and giving community, so be an active member! Whether is lesson plans, advice, white board markers, or books for your classroom library, thereโs an educator in your area thatโs ready to give you something you need. Return the favor by offering any extra classroom materials to a fellow teacher in need.
Apply for student loan reductions: Student loan payments are overwhelming for anyone. Donโt be hesitant to look into if you qualify for a student loan reduction. Depending on your type of loan and provider, teachers are commonly considered members of the public service field, so you could be eligible for assistance.
Use tuition reimbursement: Many school districts offer some type of tuition or course reimbursement for teachers receiving any type of professional development. If this is the case at your institution, take advantage of this financial assistance to brush up on or advance your skills. Teaching all while being a student can be difficult, but the big savings are sure to make it all worth it!
Use teacher discounts and rewards: Believe it or not, so many of the places you frequent offer discounts or rewards for educators. Next time you visit the craft store or supply store, be sure to bring your teacher ID to take advantage of any offerings. Additionally, be sure to switch any TV or music streaming accounts from your personal to school email for savings!
Itโs never too late in the year – or school year – to start saving on expenses. For more savings tips, visit www.penncommunitybank.com.
