Personal Finance for Educators

With the school year approaching, I wanted to make a post for folks who might be starting a new teaching job and feeling overwhelmed with everything. First, congratulations! You’ve joined a wonderful profession! Thank you for the time, dedication, and heart that you've already committed. When it comes to personal finance, my experience has been that new teachers often get minimal guidance related to benefits. Unless you are someone who enjoys digging through pdfs, reading spreadsheets, and examining fine print*, you likely won't have much engagement with specifics apart from surface-level comments at an orientation meeting. This is problematic because the benefit decisions you make now can have significant short-term and long-term financial consequence. Moreover, as I mentioned in  Focus Less on Numbers,  the first few years in the teaching profession can be overwhelming as you learn the trade (e.g., lesson planning, assessment, classroom management) and navigate big life chan...

Hello Readers!  Since we are nearing a year since I started this blog, it seemed an appropriate time for me to celebrate with an extension of the Personal Finance for Educators Project. At the outset, I envisioned Personal Finance for Educators to be more than just a blog and after a long build-up, I'm excited to announce the first episode of my  Personal Finance for Educators podcast !  My hope this that the blog + podcast structure will provide a greater reach and potential to help more educators on their personal finance journey. I'm not entirely sure how the two mediums will work together, how much time I'll spend on one versus the other, etc. but I'm confident I'll sort out a process given time. In addition to reaching a greater audience, think the podcast format also allows for more nuanced discussions of personal finance, guests, and audience feedback. I encourage you to have a listen and let me know what you think! First published: June 26, 2025

In a previous post,  The Pension Path , I shared an overview of the Wisconsin Retirement System (WRS) and how it works. In this post, I’m taking the next step: exploring a scenario along this path. My goal is to help folks understand how to estimate a pension benefit and how it might fit into a broader financial strategy. I’m a mathematics educator, not a financial advisor, and this post is meant for educational purposes only—like everything else on this site. If your financial journey includes traveling the pension path, then I think you should, at a minimum, understand what this path looks like. If you are part of the WRS and have never looked at  WRS Retirement Benefit Page , consider this a homework assignment. If you are part of another pension system and reading this blog, you are likewise charged to explore your benefits. Although waiting to understand how a system works the last few years of employment might work out fine, I think it very likely you will have missed o...

In my last post, The Pension Path , I outlined the basic details of the Wisconsin Retirement System (WRS) and how it works. I started writing a follow-up post unpacking some examples, but I realized there was another conversation I needed to have first—about my perspective on teaching as a lifestyle. At the same time, I attended the Association of Mathematics Teacher Educators ( https://amte.net/ ) Conference and heard a powerful opening session by Dr. Beth Herbel-Eisenmann, Dr. Nicol Howard, Dr. Lateefah Id-Deen, Dr. Carlos Lopez Leiva, and Dr. Farshid Safi titled “Moving Beyond Transactional Relationships in Educational Spaces.” As often seems to happen, the ideas I was thinking through in a personal finance context were deeply connected to conversations within in mathematics education. I'm grateful to these colleagues for eloquently discussing and unpacking the critical need for centering supportive, constructive, and humanizing relationships in our classrooms, communities, and ...

Hi Readers! It has been a bit since I last posted. Just a result of the normal ebb and flow of the semester that comes with education and the logistics of break, holidays, etc. Now that we’re working into the second semester, I’m finding my thoughts returning to personal finance and trying to support educators out there looking for resources. I want to focus this post on a benefit of teaching that, at least for folks within Wisconsin, should be front and center in terms of how they think about their financial stability and wellness: The Wisconsin Retirement System (WRS).  This post is part of my path series. If you want to learn about the series, check out my post  Charting Paths to Financial Stability and Freedom . My goal is to describe paths that: Are accessible to most folks in public education in Wisconsin. Do not require complicated financial structures. Do not require complicated behavior. Provide flexibility to adjust direction as life circumstances change. The Pension...

In my last few posts, I’ve discussed some of the bigger ideas in personal finance, offering general guidance with fewer details. I started this way because I believe that as educators  navigate their personal finance journey , we must balance experience and efficiency ,  focusing less on numbers.  At the same time, I think it is important to acknowledge the obstacles that can prevent teachers from achieving financial stability and independence including low salary, student debt, affordable housing, and health care. We cannot and should not ignore that folks within education are poorly compensated for their work. The choice to work within education comes with an acceptance of certain financial limitations.  These challenges withstanding, I think we need to do a better job making the argument that it is possible to achieve financial independence and stability as an educator. Doing so requires thoughtful planning, strategic action, and patience. This is a...

September marks the start of a new semester, making it a fitting time to reflect on a benefit of our profession that might be overlooked at first glance: the predictable academic calendar. After 20 years in the classroom, I see the academic calendar as akin to a fringe benefit of the job. Before diving too deeply into this, I want to outline some assumptions for this discussion. For most teachers in the United States: The school year begins in mid-August and ends in early June. There is an unpaid summer break lasting seven to nine weeks. The contract day typically starts around 7 AM and ends around 4 PM, Monday through Friday. Classes are not held on most holidays or weekends. The calendar includes a winter break in late December/early January, a spring break in March/April, and a few other breaks based on context. The academic calendar for the following year can be reliably predicted based on previous years. Of course, there is variation in these statements since schedules are shaped ...