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Podcast 21: Student Saving Tips and How to Survive on a Teacher’s Salary

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In today’s Consumerism Commentary Podcast, I offer a number of suggestions for students heading back to school, particularly for new college freshmen. Tom Dziubek and I discuss tips that will help students take small steps now to ensure they will start the rest of their lives on a sound footing.

After the discussion for students, we offer tips for teachers with our guest, Danny Kofke. He is the author of How to Survive (and Perhaps Thrive) on a Teacher’s Salary.

To listen, use the player above (Adobe Flash required), download the podcast here, subscribe to the podcast RSS feed, or use the iTunes link. Note: open links in a new window (Ctrl-click or Command-click) to avoid interrupting the podcast.

[00:00] Introduction from Flexo
[00:43] Interview with Flexo about money saving tips for new college students
[01:45] What new students should be thinking of
[02:21] Budget planning
[04:05] Savings and checking accounts
[06:34] Using a Roth IRA
[08:36] Acquiring college textbooks
[16:44] Online budget resources
[18:39] Interview with Danny Kofke, author of “How to Survive (and perhaps thrive) on a Teacher’s Salary”
[18:53] Danny’s teaching experience
[19:16] Starting salaries
[22:09] Ways for teachers to reduce expenses
[23:32] Danny’s tips from his book
[25:58] How teachers can increase income
[26:41] Danny’s experiences teaching special education students
[28:12] Career recommendations for new teachers
[34:53] End

We always welcome feedback from listeners. If you have any comments for this episode or for any other, or if you have suggestions for future episodes, please leave us comments here or email us at podcast at this domain name.

Updated May 7, 2014 and originally published September 13, 2009. If you enjoyed this article, subscribe to the RSS feed or receive daily emails. Follow @ConsumerismComm on Twitter and visit our Facebook page for more updates.

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About the author

Luke Landes, also known as Flexo, is the founder of Consumerism Commentary. He has been blogging and writing for the internet since 1995 and has been building online communities since 1991. Find out more about him and follow Luke Landes on Twitter. View all articles by .

{ 2 comments… read them below or add one }

avatar SweetCollege

I am a college student who had a lot of trouble getting used to the college life. I had an issue trying to budget my money. I finally realized what the problem was…my cell phone bill! I was spending way too much on my bill every month. So I decided to switch to a prepaid cell phone service. TracFone has recently merged with Verizon Wireless to create the Straight Talk plan. This plan entails unlimited talk and unlimited text for only 45 dollars a month. Plus, there are no overage fees, cancellation fees, or activation fees…and its on America’s most reliable network.

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avatar Daniel @ Sweating The Big Stuff

Hi, I’ve been catching up with your last few podcasts, and overall I liked it, and I have one gripe.

I just graduated, so I’m familiar with what it’s like being in college, so when you say that students should open up savings account, and you suggest ING, it seems like that’s really not worth it.

For those who work over the summer, saving at MOST $5,000, putting that in the bank for a year yields (at 2%) a grand total of…$100 a year. There are many better ways to earn money.

Sign up for studies around campus. I did this, spent an hour for $10 or $15 every few weeks. With all the time students have, the best idea is to stop gambling your money playing poker and do something useful with your life. Playing backgammon or dominoes probably is a waste of time (although I made some good money playing competitive free cell (yes!)).

Also, cash back cards are a joke. 1%? Students aren’t spending $10,000 a year (another $100) on their credit cards. It is important to build credit at an early age, but most students, like you said, take a $5 t-shirt in return for opening an account. Not worth it. But for those who listened, if you’re responsible enough to be listening to this blog, then a credit card is probably right for you.

When is the rest of the Herb Cohen podcast going to be released??

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