Preparing for Teacher Layoffs

It's official: School districts across the country are struggling to keep their financial houses in order. Teachers are facing the possibility of receiving the dreaded pink slip. What can you do to prepare yourself in the event of a layoff?

One - Get Your Own Financial House in Order

Financial stress can take on a whole new meaning when you are deep in debt and have little to no savings. A pending layoff doesn't help matters. I highly recommend that you get yourself a copy of The Financial Peace Planner: A Step-by-Step Guide to Restoring Your Family's Financial Health. Learn how to budget your money, cut unnecessary expenses, pay off your debt, save for the future, and basically get your finances under control. It's not easy, but it is possible.

Dave's Financial Peace University courses are taught at local churches across the country. You might want to look into it. If you are married, I highly recommend that you talk your spouse into going with you. The best thing you can do for yourself, your family, and your peace of mind is get your finances in order.

Two - Certify and Apply

In my state, I can add to my growing list of certifications by taking a test. Expand your opportunities by certifying in more than one area. Are you willing to jump grade levels, but need to certify in elementary or secondary to do so? Can you add subject areas to your teaching license? What about special areas like ESL, GT, or special education? Are you a math teacher who has always thought about teaching science? Did you once think you would like to teach art or music or drama? Or perhaps you would like to move into administration? Now is the time to add to your credentials and to market yourself in other areas.

Three - Search for Alternative Sources of Income

What can you do to earn income after a layoff? Don't wait until the pink slip is in your hands to have a plan. Prepare your professional vita and get ready to apply to substitute teach in every school within a reasonable driving distance, adjunct at a local community college, or work for an education service company or bookstore. What about setting up your own small business? Advertise yourself as a tutor. Charge $25-50 an hour for your professional services (depending on the going rate in your area). You can also self-publish teacher materials on Teachers Pay Teachers. One kindergarten teacher earned $60,000 last year selling teacher created resources. The Internet provides numerous opportunities for a little entrepreneurship. You never know what might happen when you put your creativity to work!

You never know when life might throw a monkey wrench at you. Prepare now rather than sit on your hands and worry about what may or may not happen. Be proactive! A plan can make all the difference.