Any teachers (or spouses of teachers) out there with tips for budgeting for the summer months? My husband is finishing his first year as an elementary school teacher, and we're preparing for 10 weeks without his paycheck. (His school doesn't offer the option to spread the payments throughout the year.) We've saved throughout the year to cover our basic expenses, but I'm wondering how other teachers adjust their budgets for the summer months. Thanks!

I'm Tiffany Connors, a staff writer at The Penny Hoarder. Even though I work for The Penny Hoarder, all of the comments, reviews, and opinions I express on this website are all my own. Especially the ones about how much I love cheese.

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The other way you can handle it for next year is to take the take home pay he makes and multiply that number by the number of pay periods.  You'll then know that he brings home for the nine month work year.  

Now take that number and divide by 12.  That's the number that you live on per month.  Anything above that goes into savings for the summer months.  So if he theoretically brings home $1200 for the month and $1000 is your monthly calculation, $200 goes into savings for the summer.  You do this for the school year and you'll have money for the summer.

So, in essence, you're now budgeted for year round earnings.

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