In the best of times, teachers aren’t usually at the top of the payscale. As the daughter of a teacher, I know most of them work very hard for their paychecks.
So it was a pleasure for me to review a relatively new personal finance book written by a teacher, Danny Kofte. His book, How to Survive (and Maybe Even Thrive) on a Teacher’s Salary isn’t just for teachers, though. It’s really written for anyone who wants to reach their financial goals while staying out of debt, even on a modest salary. In it, he shares how he and his wife — both teachers — managed to save enough money so that his wife could stay home with their young children and he could remain in the profession he loves.
It’s an easy read, written as if one friend is sharing advice with another. My only criticism would be that I would have liked more details about how he and his wife stuck to their budget. Did they ever go out? How did they keep their grocery bills so low? And some of the advice — like the section on buying versus renting — could perhaps use some updating given the current housing market.
Overall, I finished the book with a sense of, “If they can do it, anyone can.” It should be required reading for college students, and not just those who plan to become teachers.
Gerri Detweiler – Personal finance author and Credit Advisor for Credit.com, Gerri contributes budgeting, debt recovery and savings information online. She is also the co-author of Reduce Debt, Reduce Stress: Real Life Solutions for Solving Your Credit Crisis.
Gerri Detweiler Credit.com's Personal Finance Expert, Gerri focuses on financial legislation, budgeting, debt recovery and consumer savings information. She is also the co-author of Debt Collection Answers: How to Use Debt Collection Laws to Protect Your Rights, and Reduce Stress: Real-Life Solutions for Solving Your Credit Crisis as well as host of TalkCreditRadio.comTalk Credit Radio. Reach Gerri at creditexperts@credit.com.
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Are you doing a giveaway of the book since you are done reading it?
I am a teacher too so I understand how he feels. I budget and try my hardest to save so I could use a book like this.