A poll recently published in The Independent found that a third of primary school teachers are struggling to afford food as a result of the cost of living crisis. While the poll focused on primary school teachers, it is anticipated that teachers across the sector will be struggling financially.
Education leaders have warned that teachers’ struggles with the cost of living could have a negative impact on education and students. With many on the lookout for better paid jobs to help them survive.
At a time when the whole country is struggling with rising energy, fuel and food costs, we have put together a few tips that could help teachers save some money and help them navigate the cost of living crisis.
7 Money saving tips for teachers
1. Make the most of tax refunds
While some teachers may already be doing this, some may not be aware that they can. Teachers can claim tax benefits on work clothes and professional subscriptions, with an average rebate being around £250 per year. Teachers just need to set this up once and then HMRC will adjust their tax code so they receive the same benefit each year.
2. Check for discounts
Just like students are eligible for discounts so are teachers, here are some of the best ones we’ve found to help get you started:
- 10% off Nuffield Health Gym Membership
- Up to 30% off at Hilton Hotels
- Up to 50% off RAC Breakdown Cover
- Up to 10% off at Apple
- 15% off at EE mobile
There are plenty of teacher discounts available, it’s just knowing where to find them. Be sure to check out becoming a member of NASUWT, the Teachers Union to unlock a wealth of support from professional advice to legal support, high street discounts and free training.
3. Save money on your commute
Could you share the cost of the commute with colleagues by carpooling? Or perhaps you qualify for a railcard to save ⅓ off rail travel. It is worth looking at all your options as commuting costs are often one of the highest costs teachers face. It may also be worth considering walking or cycling to work if you live fairly close rather than getting a bus or driving.
It is also worth asking about teacher discounts when buying a new car or insuring your car as many providers offer exclusive discounts for teachers. The likes of Kwik Fit and MotorEasy also offer discounts on MOT testing and servicing, so be sure to check those deals out.
4. Reduce your food bill
If you buy all big brand products in your weekly shop, why not try some of the supermarket’s own products to help reduce your food bill. Many are produced in the same factory as the big brands but have a slight tweak to the recipe, which you may not even notice – but you will definitely notice the difference to your bank balance.
Another way to cut your food bill is by using apps such as Too Good to Go and Olio which aim to prevent food waste and instead sell food at a heavy discount that otherwise would be thrown away.
5. Support colleagues
If you’re feeling the pinch, you can guarantee that many of your colleagues are too. Why not set up a WhatsApp group where you can trade items you no longer want such as clothes and furniture, food that’s not going to be eaten or toys and games that your child has grown out of?
While this may seem like a drop in the ocean, it can actually help you save a fair amount of money. It is also great to know that the items are going to good use and will help someone else.
6. Get teacher broadband and mobile phone deals
Shop around when it comes to your home broadband to find the best deal for you. Sky, TalkTalk and BT all offer teacher broadband deals which could save you a lot each month. Couple this with teacher discounts on mobile phones and contracts and you could make a big saving each month.
7. Save money on UK breaks
Whether for the weekend or a week-long break, teachers sometimes need to get away. But did you know you could save hundreds on UK breaks with teacher discounts? Ranging from 5% to 50% discount, the likes of Hoseasons, Sykes Cottages and Expedia all offer teacher discounts.
While these can all help you save money, you may also want to look at whether you can increase your income. Either through part-time non-teaching work or through offering private tutoring in the evenings and weekends or perhaps you could look at changing jobs to help you increase your income.
Looking to take the next step in your teaching journey?
If you are looking for your next challenge, join the Vision Teaching community to help you find your next rewarding role. As specialists in all aspects of school recruitment, we help every borough in London attract and retain high-quality teaching, support, and administrative staff. We have a wide range of opportunities across London in both primary and secondary education settings.
Browse our teaching jobs and find your next role: https://visionteaching.co.uk/job-search/
