New York City Public Schools and the United Federation of Teachers have a tentative contract agreement. Learn about the bonuses, percentages, and dates. This episode will help you intentionally plan what to do with your 1-year retro, $3000 ratification bonus, and annual bonus.
Contract 2023: Pay Increases
For more on the 30/40/30 Rule, listen to Episode 116: What to do with a cash windfall? 30/40/30 Rule
30%- Past (debt and loans)
40% – Present- (current needs and wants Emergency Funds)
30% – Future (large purchases, down payment for homes and cars, and retirement)
Ms. Black, the host of Staying in the Black, is a single mom, homeowner, and public school educator in NYC. She owns two properties and is one mortgage away from being totally debt-free. She loves traveling the world with her family and has over $500,000 in her retirement accounts beyond her pension.
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