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How much do you save per month?

Discussion in 'Teaching abroad' started by rivermann1990, Jan 12, 2020.

  1. stopwatch

    stopwatch Lead commenter

    Can I ask - £120,000 per year from 2 people working in a school - do you hold senior positions? if so, what would a top of the scale teacher earn in your school?
     
  2. dumbbells66

    dumbbells66 Lead commenter

    No, both classroom teachers. Im at the top of the scale, and save all of that without a problem, plus most of the other salary. We arent big spenders, but also dont scrimp on anything. We have very little costs in country though and have very little costs at home (dont live in the UK).
     
    stopwatch likes this.
  3. february31st

    february31st Established commenter

    Working in a middle tier school in China it is possible to pay two mortgages,live life and save 1000GBP in cash. Many teaching couples can live on one salary(pay 1 mortgage 2 holidays )and bank the other 45000GBP.

    As for the saving and investments the value increases every year if you stick to a plan. A 10 year life insurance policy turned into property investments.

    But the number of schools offering a living expat teachers package ate small these days with all the PGCEi teachers willing to work for half my current salary.
     
  4. sid1913

    sid1913 New commenter

    Dumbbells seems like the kid at school in the playground that was always spouting absolute nonsense.

    Bet he's run a sub 2 hour marathon to boot..
     
  5. towncryer

    towncryer Lead commenter

    Unfortunately this kind of question always brings the serial boasters out of the woodwork.
    It brings out a tendancy to tell about about how much you stash away each month, how many houses you own etc.I really hope that these people only speak like this online and not to their aquaintances as it really isn't a very endearing quality.

    I think it is more or less given that most of us do better financially working overseas than we would have done back home,

    I think it's enough to say that working overseas allows to pay our mortgage/morgages off and have some savings in the bank.

    That's really all a poster curious about what he/she can save overseas needs to know...unless he/she intended to start the usual culprits off on a boastathon. Maybe..as there is a similar post about salaries on here too.
     
    mermy likes this.
  6. MayaJones

    MayaJones New commenter

    In southern Europe I save 1000 UKP per month and a further 3300 per year for my holiday fund.
     
  7. dumbbells66

    dumbbells66 Lead commenter

    can just about run a mile, but i can deadlift loads ;)
     
  8. MayaJones

    MayaJones New commenter

    that means you each save around £5000 per month right?
     
  9. dumbbells66

    dumbbells66 Lead commenter

    kind of.... we save 100% of my salary (i earn more) and around 60% of hers. I have always gone by the rule wherever I have worked of a minimum saving of 80% of salary and spending 20% if I had to. its worked very well for me so far. I obviously couldn't do this in Spain because it was so expensive to live as nothing was provided.
     
  10. fordseries123

    fordseries123 New commenter

    Good for you Dumbbells!

    I save nowhere near the figures quoted above - it's made me think..........................This thread has made me realise that I need to put a lot more money away, cut back on the going out and slow down on the amount of holidays I have each year. However, I do have a passive income from a couple of properties I own back in the UK so that helps and I guess they are long term investments.

    On the flip side, none of us really know when we might have to go back home to the 'West' for good (illness, change in circumstances, elderly parents, etc) , so I want to make the most of my time abroad.

    It's all about finding the right balance.
     
    suem75 likes this.
  11. taiyah

    taiyah Occasional commenter

    @fordseries123
    "...None of us really know..... It's all about finding the right balance."

    You hit it right on the head there.

    Would certainly be disappointed if the only option the family have is looking to Eastern Europe or Asia because the pension and other savings requires weekly yoga classes to keep on stretching.

    The international circuit certainly gives the opportunity to save big and if lucky, in shorter time.
     
  12. grdwdgrrrl

    grdwdgrrrl Occasional commenter

    Is there an age cap at your school?
     

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