In this episode of The Teacher Money Show, Shaun Morgan sits down with Colleen Salchow from Salchow Coaching to discuss personal finance education for both teachers and students.

Explore the show notes at:

https://www.teachermoneyshow.com/show53

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I asked Colleen about her journey from being a special education teacher to becoming a financial coach and it wasn't easy! Her take away was the importance of financial preparedness for teachers because you never know when you might be "pink slipped". We then talked about financial coaching and how it requires both teaching skills and business acumen, along with the significance of certification.

Colleen has great experience teaching young people finances and shared the importance of using real-life scenarios to make the lessons relatable and involving parents to break generational taboos around money discussions. It was a fun conversation!

Teachers interested in financial education will learn practical tips on balancing their careers while building financial knowledge, tracking personal finances, and even pursuing a financial coaching certification. Watch this episode to learn how teachers can better prepare for career uncertainties, improve their financial literacy, and help their students achieve their financial goals.

For more information, visit Colleen at salchowcoaching.com or follow her on social media @salchowcoaching.#TeacherMoneyShow #PersonalFinance #FinancialCoaching #TeacherFinance #Education #FinancialLiteracy

In this episode of the Teacher Money Show, I interview Briana from @ritual_finance to discuss the decision between renting and buying a home. Drawing from her personal experience in the expensive Bay Area, Briana shares why she chose to rent rather than buy, highlighting the flexibility and lower costs associated with renting. She breaks down the true costs of homeownership—mortgage, taxes, insurance, HOA fees—and explains how renting has allowed her to invest her savings elsewhere, including retirement accounts like her Roth IRA, 457B, and 403B. Explore the show notes at: https://www.teachermoneyshow.com/show52 Become a guest on the show: https://www.teachermoneyshow.com/guest Leave a voicemail question: https://www.speakpipe.com/teachermoneyshow Renting vs. Buying a Home Briana explains why renting made more sense for her, given the high costs of owning a home and the short-term nature of her living situation. Factors to Consider When Renting vs. Buying She outlines critical questions to consider, such as how long you plan to stay in a home? What are the housing market conditions? And what are the periodic costs we don't think of? Investing Savings Instead of Buying a Home Briana talks about how she has invested the money she would have used for a down payment into tax-advantaged retirement accounts, allowing her wealth to grow. Balancing Work, Life, and Finances Briana's top tip for teachers is to find balance in both their professional and financial lives, emphasizing the importance of making personal finance a "ritual" rather than a burden. This episode is packed with valuable insights for teachers considering their housing options and looking for ways to grow their wealth while maintaining a balanced life.

In this episode of the Teacher Money Show, host Shaun Morgan talks with Brittany from Traveling Teacher Co about how teachers can get paid while traveling.

Explore the show notes at:

https://www.teachermoneyshow.com/show51

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First, we talk about getting free travel travel through grants, fellowships, and scholarships like the Fund for Teachers grant and Fulbright programs. If you're going to take this route you'll need to align your travel goals with the right opportunities.

Then we dive into travel-related side hustles for teachers, including becoming a travel agent, content creator, or trip host. This allows you to either make money while traveling or tax write-off or both, or get bonuses that allow you to travel for free. It is up to you to discover which option is best for you.

For teachers looking to balance full-time jobs, travel, and side hustles, We discuss strategies for maintaining a healthy work-life balance and ways not to overcommit financially. Tune in for valuable insights and resources on how to make money while pursuing your travel dreams as a teacher!

In this episode, I talk about the importance of putting your money to work to achieve financial goals, such as retirement, and why saving alone isn’t enough. I talk about the basic things to think about before getting started in investing.

Explore the show notes at:

https://www.teachermoneyshow.com/show50

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In this episode, I talk about understanding investment options, avoiding risky behavior, and balancing risk and reward. I talk about concepts like the difference between bonds, stocks, and real estate as investment vehicles for teachers. While bonds are seen as lower-risk, remember that stocks—particularly index funds—can be a powerful way to grow wealth over time while bonds just fight inflation. Another thing to remember is that real estate can be a lucrative but more complex investment option that requires significant education and planning.

Regardless of what you choose, remember to start early to take advantage of compounding returns. Teachers ought to invest now and leverage the right educational tools to make informed decisions. Tune in to learn how to take control of your financial future through smart investing!

In this episode of the Teacher Money Show, host Shaun Morgan sits down with options trading expert Austin Bouley from Options Auto Trader to break down the fundamentals of options trading. Whether you're new to investing or looking to expand your financial knowledge, this episode offers valuable insights into how options can be a powerful tool in your investment strategy.

Explore the show notes at:

https://www.teachermoneyshow.com/show49

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**Introduction to Options Trading**

Options allow you to "bet" on the movement of a stock. Options can offer the potential for higher returns, along with higher risks, compared to simply buying stocks.

**Understanding Call and Put Options**

We go over the basics of call and put options—explaining how call options allow you to bet that a stock will go up, while put options let you bet that it will go down. We also cover essential terms like strike price and expiration date, which are crucial for understanding any options contract.

**Selling Options as an Income Strategy**

Austin recommends selling options, particularly covered calls, as a way to generate income. This strategy allows you to collect premiums while managing downside risk on stocks you already own—a smart approach for conservative investors.

**Risks and Considerations for Options Trading**

We discuss the inherent risks of options trading, especially during strong bull markets. They stress the importance of education, caution, and starting with a conservative approach before exploring more complex options strategies.

**Recommendations for Teachers**

For teachers interested in options trading, Austin suggests starting with covered call ETFs to gain market exposure while generating income through options premiums. He emphasizes the importance of gradually building a position and learning as you go.

---Join us for this informative discussion on options trading basics and learn how you can use options to potentially enhance your investment portfolio. For more insights, tips, and resources, be sure to check out Austin Bouley's YouTube channel and other links provided in the show notes!

#OptionsTrading #TeacherMoneyShow #InvestingBasics #CoveredCalls #FinancialEducation #AustinBouley #PersonalFinance #RetirementPlanning #OptionsAutoTrader #FinancialLiteracy

In this episode of the Teacher Money Show, host Shaun Morgan sits down with Vince Shorb, CEO and founder of the National Financial Educators Council (NFEC), to explore how project-based learning can teach the teacher personal finance while teaching your students.

Explore the show notes at:

https://www.teachermoneyshow.com/show48

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https://www.teachermoneyshow.com/guest

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**Project-Based Learning for Financial Literacy**

Project-based learning, where students tackle real-world financial challenges—like budgeting for moving out or buying a car, is a powerful way to teach and learn financial principles. This approach not only engages students but also allows teachers to learn and apply practical financial insights alongside their students.

**Benefits for Teachers and Students**

Since it is a hands-on method, it benefits both students and teachers. Teachers can address their own financial needs, get reminders on budgeting and expenses, and enjoy more engaging, interactive discussions with their students.

**Examples of Project-Based Learning**

Vince shares specific examples of project-based activities from the NFEC that help students and teachers explore key financial concepts in a practical, applicable way, such as moving out, buying a car, etc. And the best part is, if you're unsure how to do this, there are many resources available from the the NFEC!

---Tune in for an enlightening conversation on how project-based learning can transform financial education in the classroom and empower both teachers and students to make informed financial decisions. Don't miss this opportunity to gain valuable insights and practical tips from Vince Shorb, a leading voice in financial literacy education!#FinancialLiteracy #ProjectBasedLearning #TeacherMoneyShow #VinceShorb #PersonalFinance #FinancialEducation #NFEC #TeachingTips #Education #FinancialPlanning

In this episode of the Teacher Money Show, host Shaun Morgan is joined by Stephanie Lyons, a certified financial education instructor and founder of Masterpiece Financial Coaching, to discuss essential tips for teachers preparing financially for the summer months. With decades of experience in business and commercial banking, and a personal connection to the teaching profession through her mother, Stephanie offers valuable insights tailored specifically for educators. Explore the show notes at: https://www.teachermoneyshow.com/show47 Become a guest on the show: https://www.teachermoneyshow.com/guest Leave a voicemail question: https://www.speakpipe.com/teachermoneyshow - **Understanding Teacher Pay Cycles and Contracts** It is important for new teachers to fully understand their pay cycles and contract terms, whether they are paid over 10 or 12 months. You must understand how you are paid, the deductions from your pay, and your own expenses to accurately budget for the summer months. - **Strategies for Saving for the Unpaid Summer Months** Stephanie suggests calculating expenses, automating savings from each paycheck, and using a high-yield savings account to maximize earnings on the funds set aside for the summer. - **Balancing Debt Repayment and Summer Savings** If you want to save for the summer, but you also have debt, it is important to tackle high-interest debt, like credit cards, alongside saving for summer, and maybe make it a priority. You can use strategies such as the debt snowball or avalanche methods to get out of debt, but mostly just focus on cutting expenses and boosting income to speed up debt repayment. - **The Role of an Emergency Fund ** Remember, an emergency fund is a separate safety net for unexpected expenses. Prioritize the establishment of an emergency fund before focusing on debt repayment and summer savings. This episode is packed with practical tips and expert advice to help teachers navigate the financial challenges of the unpaid summer months, ensuring a stress-free and financially secure summer.

In this episode of the Teacher Money Show, we discuss essential tips for educators as they prepare for the new school year with a focus on financial well-being.

Explore the show notes at:

https://www.teachermoneyshow.com/show46

Become a guest on the show:

https://www.teachermoneyshow.com/guest

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We talk about: -Setting up paycheck withdrawals for retirement and medical expenses -Regularly reviewing pension and retirement benefits to ensure a secure financial future. -Updating and maintaining an emergency fund -Setting limits on classroom spending. -Being mindful of your contract hours and sticking to them. -Reviewing your 403b vendor options. -Staying updated on your benefits packages for new offerings, including free financial advisory services and teacher discounts, etc. Remember, you are in control of your finances. So take control!