If You are an EFL Teacher looking for ideas or ways to save money, then You need to read this article as it was made just for that purpose. Many of those who opt for a TEFL career (Teaching English as a Foreign Language) is, of course, interested in education and teaching, but there’s often more to their decision than that.
The travel aspect of TEFL is particularly enticing for many. Because how often do entry-level jobs offer you the opportunity to work wherever in the world you choose?
At the same time, you don’t have to be an aspiring globetrotter to be an EFL teacher. You could enjoy teaching online from home, following a schedule that suits you. But for those who do want to TEFL and travel;
Whether as a full-time teacher or a digital nomad, there can be a lot of expenses involved. Especially if you aim to experience life to the full while on the go. Some expenses can be avoided, others can be minimised, and some of them can simply just be managed better.
7 Tips to Use and Save Money as an EFL Teacher
We’ll take you through some of our top money-saving tips for newly qualified EFL teachers who are looking to combine a life of work and travel. Between budgeting and money-saving apps and websites, you could find you’re able to stretch your wages further.
By consciously paying closer attention to your spending habits, you’ll be less likely to overspend on unimportant and unnecessary purchases.
1 – Turn on Spending Notifications
If your mobile banking app enables you to do so, turn on spending notifications. It’s not something any of us want to be confronted with, but sometimes it has to be done. It’ll help you hold yourself accountable for your spending because it’s not quite so easy to forget about a few quid spent here or there when it comes up as a notification that you have to actively get rid of.
2 – Keep a Spreadsheet
While you can easily look at your bank statement to get an idea of exactly how much you’re spending, it’s easy to avoid engaging with it altogether. Creating a spreadsheet for your expenses with separate sections will help bring to your attention how much you typically spend and whether that amount could be reduced.
Creating separate sections for your rent, bills, necessities, and leisure activities will also make it easier to track.
3 – Separate Savings Accounts as it can Help You Save Money if You’re an EFL Teacher
Separating your money can actually help you manage it better and make it much less tempting to overspend. Set yourself a monthly budget, taking into consideration all of your typical expenditures, and then calculate how much would be a realistic amount to put away into savings each payday.
Once the money is set aside, you’ll be reluctant to dip into it unless absolutely necessary.
4 – Make Small Changes to Your Social Life
Socialising doesn’t have to involve spending money every single time. Instead of going out for a meal or drinks one weekend, why not host a potluck dinner or a cocktail night?
You’re sure to be keen on having an enriching experience while working abroad, but in doing so, you don’t have to be spending all your disposable income either.
Days spent visiting local markets, relaxing on the beach, hiking up to scenic viewpoints, reading a good book in a city park, or strolling through a museum doesn’t have to cost you much, if anything at all. Being your own guide with a little help from the internet could save you a small fortune.
5 – Avoid Spending in Tourist Hotspots
It’s easy to fall into tourist traps and end up paying more than you would anywhere else simply because you’re close to a popular landmark or attraction. Travellers who are unfamiliar with the country are unlikely to dispute hiked-up costs and are more willing to overpay.
It can be tempting to spend your time where the tourists are, but often you’ll find a country’s hidden gems are off the beaten track. Sure, enjoy some of the most notable attractions, but keep in mind that your money can stretch further when you’re willing to wander and explore which is part of the fun in itself.
You’ll find the same thing when looking for accommodation. Central locations, close to tourist spots will naturally come at a higher price. Use the powers of the internet to research the best neighbourhoods to settle in where you can get a lot more for your money.
6 – As an EFL Teacher You can Use Skyscanner and Kayak to Save Money During the Holidays
Skyscanner and Kayak are both price comparison travel sites. Whether planning a break or flight to or from home, don’t be too hasty about booking travel without using such sites first.
The likes of Skyscanner and Kayak allow you to compare airlines for your dates so that you can be sure you’re getting the best price. They’ll also let you compare flight times and weigh up whether or not added layovers are worth the lower price tag.
If budget is key and you haven’t got a particular destination in mind, both sites will let you easily check out the cheapest destinations available on your dates, as well as car hire and hotels.
7 – Plum
Plum is an AI spending assistant. It’ll scan through your bank account and analyse your spending habits. From there, it’ll calculate what you can afford to put away into savings every so often.
It’ll also round up spending to the nearest whole number. It can quickly add up to a substantial amount! Plum will keep you in the loop about how much it’s setting aside. If money’s tight one month, you can simply turn it off and transfer money over from what has added up.
Take Away
You’ll find that none of these tips to use and save money as an EFL Teacher is groundbreaking. Well, they can have an impact. For the most part, just being alert to the information and resources you have at hand will make all the difference.
Simply being aware of how you can be savvy with your money will make you a much more conscious spender.
Check Now;