How to Create a Simple Monthly Budget as a School Teacher
“Smart Finance Tips for Indian Educators”
From One Educator to Another – Let’s Talk Smart Money Habits
I’ve spent most of my life in school corridors—teaching, guiding, and shaping young minds. But when it came to managing my own money, I used to feel lost. Not because I was careless, but because no one ever taught us how to budget our income, especially as school teachers working on limited but honest salaries.
This post is written from my own experience—and with the hope that it helps fellow teachers live a little lighter, plan a little better, and build a life of dignity and financial peace.
🟦 Start With What You Have
Take out a pen and paper — or simply open your phone notes — and jot down your exact monthly income.
When I started taking interest in personal finance back in February 2017, I did a simple exercise — I wrote down all my income sources.
To my surprise, the total came out to be ₹56,818 that month.
💬 “When I added everything, I realised my income wasn’t as small as I thought — it just needed direction.”
That moment of clarity gave me a push to start managing my finances seriously — and it changed everything.
🟨 Know Where It Goes
I still remember being shocked when I listed out all my expenses for the first time.
It wasn’t just the big ones like school fees or groceries — it was the little things that added up silently:
☕ Tea breaks, 🛍️ casual shopping, 🍪 snacks for students, ⛽ fuel, those “just one item” online orders… and yes, even the occasional wine and beer I treated myself to after a long week.
Once I became aware, everything made sense. I started dividing my expenses into two simple categories:
📌 Fixed Expenses
House rent or loan EMI
School fees for kids
Monthly groceries and essentials
Mobile recharge, electricity bills
🎈 Flexible Expenses
Dining out
Festive gifts and functions
Clothes, small gadgets
Wine, beer, and entertainment
Unplanned online shopping
📝 Tip: Use a simple diary or budgeting app like Goodbudget or Money Manager. Start small—but start. Once you know where your money goes, you’ll feel more in control than ever before.
🟩 The 50-30-20 Formula That Changed My Life
I’ll be honest — when I first heard about the 50-30-20 budgeting rule, I thought, “This sounds too fancy for my teacher salary.” But out of curiosity (and a bit of frustration), I decided to give it a shot.
Here’s what the formula says:
🏠 50% Needs – Your basics: rent, bills, groceries, transport
🎉 30% Wants – Clothes, a dinner out, an occasional Netflix plan
💰 20% Savings – Emergency fund, your child’s future, retirement
That February in 2017, when my income was ₹56,818, I calculated my needs. Turns out, I was spending more than 50% on wants — little indulgences like online shopping, festival expenses, and yes, weekend beer with friends.
So I didn’t start with 20% savings — I started with just 5%.
That was ₹2,800, which felt tiny but powerful. It gave me a small victory. And slowly, as months passed, my 5% became 8%, then 10%… and one day, I actually hit 20%.
💬 “It’s not about how much you save — it’s about getting used to saving. Like building muscle, one disciplined step at a time.”
I’ve followed this ever since. It’s not perfect every month, but it’s always intentional — and that’s what changed my money life.
🟧 Set Little Dreams With Big Impact
Back in 2017, budgeting used to feel like a burden — like I was constantly denying myself little joys. But then I had a mindset shift. I stopped calling it a “budget”, and started calling it a collection of small dreams.
At that time:
Dhruv and Ipshita were both studying in school, full of questions, creativity, and dreams of their own.
Usha, my wife, was handling the responsibilities of a head teacher in a private school, while also managing home beautifully.
And I had just begun realizing that even with my monthly income of ₹56,818, there was enough to create comfort, not just survive — if every rupee had a reason.
Every month, I set aside ₹3,500 for Dhruv and Ipshita’s school fees, books, shoes, and other essentials.
₹3,500 may not seem like much, but in our home, it represents care and quiet commitment — covering what they need to walk into their classrooms with confidence.
A quiet portion of my budget goes toward these expenses — not just as a routine payment, but as a heartfelt promise.
For their education, I always try to keep this amount aside, knowing that no investment feels more meaningful than the one we make in our children’s future.
I’ll skip buying anything fancy and put that money towards a future vacation — a quiet break with Usha and the kids.
Because peace, togetherness, and memories are always worth more than another shirt or gadget.
💬 “Budgeting stopped feeling like sacrifice. It began to feel like planting little seeds of security, happiness, and love.”
🟪 Talk With Your Family
For a long time, I managed everything silently. I felt it was my responsibility to protect my family from stress — so I never shared the actual numbers with them.
But one evening, I gathered the courage to sit down with Usha, Dhruv, and Ipshita. I opened my diary, showed them our monthly income, the expenses, the goals — and something changed.
Instead of pressure, there was partnership.
Usha understood where I was coming from and even offered brilliant suggestions. Dhruv and Ipshita, young as they were, became more mindful of little things — like asking for new things only when needed, or celebrating small wins like saving electricity.
💬 “Money talk at home is not shameful. It’s wise. It builds trust, not tension.”
🟫 Make Friends With Tools
I used to think budgeting was only for financial experts or accountants. But the truth is — you don’t need an MBA to manage money.
All you need is a little curiosity and some simple tools.
Here’s what I use today:
📊 Google Sheets – I created a simple monthly budget tracker. It’s color-coded, neat, and gives me instant clarity.
⏰ Phone Reminders – EMIs, due dates, and fee submissions never get missed now.
🔄 Auto-debit – For SIPs and bills, so saving happens before spending.
💬 “Budgeting became fun when I stopped fearing it — and treated it like planning a school timetable: clear, simple, and repeatable.”
🔄 7. Pause. Reflect. Adjust.
At the end of every month, I open my budget sheet and my diary. I ask myself:
What worked?
Where did I overspend?
What can I do better next month?
It’s just like checking a student’s notebook — find the mistake, guide it, and move forward. No guilt. Just growth.
💬 “Financial progress is not about perfection — it’s about reflection.”
💚 A Final Note — Teacher to Teacher
If you’re reading this, I know one thing for sure: you care.
Not just about your students, but about your home, your future, and your financial peace.
You don’t need to be rich to be financially strong.
You just need clarity, consistency, and a little courage to start.
So this month, take that first step.
Open your diary. Write down your income. Set aside a few small dreams.
And begin your own Chalk2Wealth journey — one rupee, one goal, one wise decision at a time.
