Now, there is definitely more than one reason, but I believe that this is the most important one. Let me give you a clue… It is something I used to pay religiously every month. I would spend half my teaching salary on it. I felt very helpless and frustrated by it as I saw it as “dead money.”
Yes, you’ve guessed it- RENT. The inescapable obligatory bane of all of our lives. I would like you to:
- Write down how much rent you pay each month.
- Then calculate what percentage of your monthly salary goes on this “dead money.”
- Now add up how much you spend on rent in a year.
This is hard-earned cash that just disappears each month from your bank balance, leaving you nothing to show for it. Look at that sum again. What could you do with this? Save it for a deposit for a house? Take a 2-week holiday? Do a postgrad? Probably all of the above!
When you get your ideal teaching job abroad, you won’t have to use your salary to pay for your rent ever again. Let me repeat that. YOU WON’T HAVE TO USE YOUR SALARY TO PAY FOR YOUR RENT EVER AGAIN.
Think about how much less stress you’d have if you didn’t have to worry about paying your monthly rent on time.
Can you imagine how much extra cash you would have at the end of the month if your WHOLE salary was your own?
In all teaching packages abroad, either accommodation or a rental allowance is provided so you do not spend your salary on rent. However, depending on the type of package provided by your school abroad, you can boost your savings!
In some teaching packages, your accommodation will be provided free-of-charge as part of your contract, so you aren’t spending any of your salary.
In other teaching packages, you will receive a generous rent allowance. With this, you can decide where to live, how much rent to pay, or if you’d like to have housemates. Most importantly, you can set a rent limit and decide how much of the allowance you’d like to spend on rent and how much you’d like to save. So you’re actually saving even more money!
I will teach you how to find, apply for and get those kinds of teaching jobs, and that is the Empowering Expat Teacher difference.
Imagine what you could do with this extra cash? This easy monthly saving means you could save more quickly for a house deposit, which is the issue for many of us teaching in our home countries. Hypothetically speaking, most of us could actually afford the monthly mortgage repayments if we owned our own house. Unfortunately, with the huge amount of rent we pay, our major problem is being unable to get the initial house deposit together. One solution to this is to join Empowering Expat Teachers to get your ideal teaching job abroad and start saving for the future!
Join our supportive Empowering Expat Teachers FB group here where I share tips and resources to help you become a personally, professionally and financially empowered expat teacher!
I think you’ll enjoy this next post- click here to read “Why expats should prioritise saving over socialising.”