Moving to Dallas-Fort Worth, and for some of you, embarking on your first professional job, can be expensive and overwhelming. You will not receive your first paycheck until after the school year begins (usually in mid-September), which can be stressful. Take a breath though. We want you to be able to plan for your move and set you up for financial success in DFW!
First, review the certification costs at the bottom of this page. This is what you can expect to pay in order to enroll in your Educator Preparation Program and get into your classroom. In addition to these upfront certification costs, you will have additional relocation expenses such as buying or leasing a car, moving your belongings, your apartment's deposit, electricity/internet/cable installation fees, furniture, professional attire, classroom supplies, and more. The best time to start saving for these expenses is now!
First, review the certification costs at the bottom of this page. This is what you can expect to pay in order to enroll in your Educator Preparation Program and get into your classroom. In addition to these upfront certification costs, you will have additional relocation expenses such as buying or leasing a car, moving your belongings, your apartment's deposit, electricity/internet/cable installation fees, furniture, professional attire, classroom supplies, and more. The best time to start saving for these expenses is now!
Tips
We encourage all of our corps members to apply for Teach For America's Transitional Grants & Loans to help pay for your transition to DFW (even if you don't foresee needing it right now). If you are awarded grants/loans, they will be dispensed to you no later than the 2nd week of Institute, but you must apply for it. You can learn more about the process in the Applicant Center, or by emailing [email protected].
Once you get settled in DFW, a budget will become your best friend and your first big step toward financial independence. Sound intimidating? Don't worry! There are tons of excellent resources to help you budget. These are some of our favorites for every step of the budgeting process:
Once you get settled in DFW, a budget will become your best friend and your first big step toward financial independence. Sound intimidating? Don't worry! There are tons of excellent resources to help you budget. These are some of our favorites for every step of the budgeting process:
- Find out what your income will be. Our corps members make at least $46,000/year before federal taxes, social security, Medicare, and any contributions you make to insurance or your 403(b). (There's no state income tax in Texas!) This paycheck calculator will give you an estimate of how much your paycheck will actually be (though we've noticed that it's a high estimate, so our paychecks are actually a little less).
- Get excited about how awesome a budget can be. Sticking to a budget doesn't mean that you can't have fun. It actually means that you can have even more of a blast in DFW because, by making smart spending decisions, you won't be stressed about having enough money to cover important expenses like rent and groceries. Don't believe us? Here are two great articles about Budgeting 101 and specific tips for 20-Somethings!
- Make a plan. This budget worksheet is a great outline of all your potential income and expenses. (We even put it into an interactive spreadsheet for you!) Some of the line items may not apply to you, but it helps to consider every possibility!
- Learn more about smart financial decisions. So, you created your budget, you're sticking to it, and now you are excited to learn more about managing your money? Read further into topics like retirement, goal-setting, and savings.