“I don’t want to be rich if it means I can’t spend time with my family and friends.”
“Money will change you.”
How many of us have grown up hearing exactly those phrases repeated over and over? It’s almost like money is – well – something to be avoided. Seriously, if something is the root of all evil, keeps you from being with family and friends, and will change you, well that’s something I want to seriously avoid.
Money Makes you more of what you are
Luckily, I didn’t hear any of these things growing up, and I don’t believe any of them. On the contrary, I believe that money – like power – often makes people a more extreme version of what they already are, and the reason is related to that very first quote, which, by the way, is incomplete.
The actual quote is, “For the love of money is a root of all kinds of evil.” And if you want to check that for yourself, just go to 1 Timothy 6:20 in the Bible.
Now that might seem like quibbling over a few little words, but those words change the entire meaning of the quote. It’s not money that is evil, it’s loving money.
My absolute favorite money quote of all time is “Love people and use money, never the other way around.”
In other words, as long as money is a TOOL, not a goal in and of itself, money is a really great thing. Money can do all sorts of good. It can help people who are starving or sick to get life-saving nutrition and medical care. It can allow a family to make life-long memories together. It can provide safe and secure housing. It can provide help for elderly parents who can’t do it all on their own anymore. Shoot, it can even buy you a really cute outfit that makes you feel like you can take on the world!
How to use money and love people
As long as we LOVE people and USE money to benefit people (especially those who are vulnerable), money can be a truly great thing. It’s when we start to LOVE money and USE people to amass more of it, without regard for their human dignity that money becomes a curse.
I’m looking at you, sweatshop owners. I’m looking at you, internet scammers. I’m looking at you, business owners who maximize profits by refusing to pay a living wage. I’m looking at you, billionaires who think it’s more important to send rich tourists to space than to ensure that every child is nourished.
But when we love people and use money, amazing things happen. It can happen when we donate to charity. Children in Guatemala who are trapped in a cycle of poverty can get an education. People without permanent shelter can regain their human dignity with a fixed residence. Families can be healed from the scourge of domestic violence. The earth can be healed from environmental damage.
But money can also make a difference in our own lives, and it’s not evil to have enough money to make our own lives better. Why? So we can pay for counseling to heal past trauma. So we can quit an unfulfilling 2nd job to spend quality time with our kids. So we can travel and be transformed by the wonders of this earth. So we can sleep at night without worrying. Shoot, so we can do something good for ourselves, just because.
Money is freedom to choose your life
In 2019, my partner and I packed up our 3 kids, the family dog, and a significant portion of our worldly possessions, and moved to Norway. Waiting for us was a small basement apartment, some of the highest prices in the world, and no income. Absolutely none.
Almost 3 years in, we agree it is one of the best decisions we could have made for our family. More freedom for the kids. A healthier lifestyle. Better work/life balance. The list goes on.
But we would never have been able to make the move if we hadn’t had the money to pay for a fairly expensive relocation and to cover our expenses until we found jobs.
And that’s why my mission today is to help other teachers become Money Masters. Because although money can’t buy happiness, it can buy options and freedom. And those two things go a long way toward preventing misery.
But I get it. Deeply rooted beliefs don’t just go away because you want them to. We can’t really “logic” away mindsets that we’ve held for years, perhaps without even realizing it. So this is what I’m going to do. Over the next few months, I’m going to create a series about all the reasons teachers SHOULD be money masters, in other words why they should have control of their money, have lots of money, and use it for good.
OK, let’s get real. The last couple of years have been hard for most people, but they have been absolutely brutal for teachers. In other words, a lot of teachers who never thought they would be leaving are suddenly staring a job search in the face.
That can be more than a little anxiety-inducing (as if any teacher needs more anxiety at the moment!!). Especially if you haven’t applied for jobs for years or perhaps never imagined applying for jobs outside of education.
There are so. many. options. Ed-related or new career? Remote or in-person? Full time or part time?
If you are feeling intimidated or even paralyzed, here are 5 questions to help you cut through the overwhelm and focus on positions that are the best fit for you.
What’s my timeline?
When I coach teachers who want to get out of teaching, this is one of the first questions I ask. You don’t need to be exact, but you do need to know whether you are thinking in weeks, months, or years.
If teaching is causing you unmanageable anxiety or serious health issues, you need to get out ASAP. So the priority is going to be finding a job that can reduce your stress and still meet your needs financially.
On the other hand, if you are feeling a vague sense that this isn’t the right career for you long-term, but you still enjoy teaching and want to give it a few more years, that’s a very different situation. You have time to explore your options. Maybe try on different part-time jobs to build your resume and see what you enjoy.
What are my financial needs?
Let’s face it. Most of us work because we want to get paid. So, a big question is “How much money do I need to make short-term and long-term?” You might be able to struggle along for a while on a low salary, but doing it for years can put your retirement at risk. (Going back to question #1, if your mental or physical health is at stake, you are mainly looking for something to get you through a year or so – maybe only several months – until you can recover a bit, so don’t stress too much about long-term if that sounds like you.)
Money details aren’t fun most of the time, but if you are applying for jobs, it’s essential to know how much you need to bring in. You don’t want to eliminate a potential dream job because you “think” you can’t take a pay cut. By the same token, you don’t want to accept a position and then realize you just aren’t earning enough.
Lucky for you, money stuff is my JAM! Yes, I am a dork, but I LOVE it!
If you aren’t sure how much you actually NEED to earn to pay your bills each month, that is our first step. Go through your bank and credit card statements and figure out how much you spend each month for essentials like mortgage, student loan payments, car payment, credit card payments, gas, food, and utilities. Then take another look through and see what recurring charges you have that aren’t essential, but you don’t want to part with, either. Think Netflix, a budget for clothes and treats.
If you’d like to do this WHILE cutting your expenses (and not give up anything you enjoy!) check out the 5-Day Found Money Challenge. It’ll walk you through getting a handle on your finances one easy step at a time, AND help you find extra money you might not even have known you were spending!
Once you know what is going out every month, you know how much you need to bring home. This can be complicated, but fear not! The Money Master Spreadsheet is a ready-to go spreadsheet to help teachers figure out how various money scenarios work out. Just plug in your numbers and then fiddle with them all you want.
Where do I want to be 5 years from now?
I am a huge fan of the 2-year, 5-year, and 10-year plans, but if that is a bit much at the moment, just focus on 5 years. The great thing about the 5-year plan is that you can accomplish a lot in 5 years, but it isn’t so far away that it’s hard to envision.
I recommend that you either write or record this part. Imagine yourself at your dream job 5 years in the future. Now describe it in as much detail as possible. Start with the situation. Do you work alone or with others? In an office or from home? Set hours or variable schedule? Predictable tasks or always something new? Are you given lots of direction and structure, or do you figure out next steps on your own?
Next, think about the content of the job. Are there any things you do now that you want to be a part of your new job? For example, if planning lessons lights you up, include that. Are there talents you have always wanted to develop that you didn’t really get to focus on while teaching? I’ve always loved writing, and I’m so happy that my side-gig allows me to write every day.
Jot it down or talk it out into a voice recorder so you can come back to it in the future. However, just reflecting on what would make you most happy will give you some amazing insights when you are scrolling through job postings.
What gives my life meaning?
An infographic I came across recently defined meaning as either purpose or passion. What’s the difference? Well, they defined passion as more about developing your own potential (“I want to use my talent to create great art/music/literature.”) while purpose is more about making a difference for others (“I want to help kids/stop climate change/save the whales.”)
Of course, for most of us, it is a mix of both. I am passionate about creating learning experiences that move students forward and engage them. But I also feel great purpose in helping create a more just and equitable world and alleviating suffering.
Give some thought to how purpose and passion each add to the richness of your own life and how you would want to apply it in your career. Whether you are looking to pursue a passion, a purpose, or a little of both, you will be happier if your job has meaning for you, so give it some thought.
If this is a particularly important part of who you are, you might want to check out idealist.org to get an idea of the options that are available in the non-profit sector.
What are my personal preferences?
This probably falls into the “nice to have” not the “essential to have” category, but having moved to Norway a few years ago, I can tell you that we Americans really don’t take quality of life issues seriously enough.
I recently shared with a Norwegian friend how much I love getting up at 5:50 since in the US, I used to have to get up at 4:30 to get to school on time. (Three kids. Nuff said.) She about fell over. She couldn’t imagine a situation where getting up at 4:30 is OK long term. Granted, she isn’t a morning person and I am, but 4:30 was pushing it a lot, even for me.
If you are changing careers, you really owe it to yourself to take your own preferences into account. Like, seriously! Think about how absolutely lovely it is to get to go to the bathroom whenever you feel like it during the summer. Ah, bliss! Now imagine how much better your overall life satisfaction would be if you had just a couple more details that really made you happy every day.
Well, there you have it, folks. 5 questions you should ask yourself to cut through the overwhelm and decide what jobs you might want to apply for. But I promised you something more. 1 myth you should leave behind forever. And here it is (drumroll, please!):
Myth: Only apply for jobs that you are “qualified for.”
There is a theory that women take the “requirements” for a job much more literally than men. By some estimates, many women won’t apply for a job unless they meet almost all of the listed “requirements,” while men often apply for a job if they have 2/3 or so.
Now, I am NOT advocating that you go out and apply for jobs that you clearly don’t have the qualifications for. (Most of us are not qualified to do brain surgery or fly a plane!) However, I am going to encourage you to look at those “requirements” more as “suggestions.” A lot of more inclusive employers are even stating that they want people to apply if they match most of the qualifications because they want a larger variety of possible applicants.
Now, this does mean that you might get more rejections, because after all, you are going to be applying for “stretch” positions – positions you could do well with a few months’ experience, but which would take a bit of growth. But I also think you are a lot more likely to find a position you love, and where you are seen as a whole person, and not just a set of skills.
Do you have a question that helps you decide which jobs to pursue? Comment below!
