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7 Ways to Manage Your Money While Teaching English Abroad

7 Ways to Manage Your Money While Teaching English Abroad
Admin - Jun 06 2015

Teaching English abroad is a great way to great way to fund onward travels, but how can you make your monthly wage stretch even further to allow for some serious enjoyment in your spare time as a TEFL teacher?

1. Find out what the locals pay for things

Chances are you are getting paid the same as the locals, so you don’t want to pay tourist rates, we recommend you go to the places where the locals go for cheap meals, shopping etc.

2. Budget

If you really want to go on that amazing holiday then you may have to make some sacrifices. Set yourself a strict budget and then at least if you don’t make it, you will have something left over at the end of the month.

3. Have a ‘penny’ jar 

It will come in handy if you get to the end of the month and your bank account is low! 

created on: 04/06/10

4. Try not to eat out all the time

It’s very tempting with all the new culinary delights to experience, but holding back a little will help your bank balance AND your waistline!

5. Think about having to ship all that ‘stuff’ home when you finish

There’s no point in buying loads of stuff if you are going to have to bin it when you leave, or worse, pay lots of money to have to ship it home!

6. Always keep a look out for cheaper accommodation

What’s the point in paying a lot when you’re never there anyway?  You may even get a nicer place for less! Have you looked at all the benefits you might be able to get in other apartments?

7. Take additional classes

You might be able to earn a little extra as a private tutor, or by taking on extra classes at your institution. It’s worth asking! If you’re going to teach one-to-one though, please make sure it’s in a public place and that someone knows where you are and when to expect you back. It’s always best to be safe folks!

8. Barter

If you’re in a country where bartering is part and parcel of everyday life, work on your persuasive skills, it’s actually really fun when you get the hang of it. This means going ridiculously low, using your wiles, budging very little and slowly walking away…waiting for that sigh and a big dip in the price (in the pursuit of fairness, you may want to consider paying a little bit more for things if you get an above average salary).


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