Public school teachers don't make a lot of money – $48,000 a year is about average, depending on where you live. Could you support a family of four on a teacher's salary?
Danny Kofke did just that for eight years while his wife stayed home with their two small children. Kofke is a special education teacher in Georgia.
Despite earning a lower than average salary, the Kofkes have no debt except their mortgage, and they are on track to pay that off this year.
They also have built an incredible one-year emergency fund, and because of the way they save, they will be able to retire comfortably when the time comes.
Pat Robertson talks with Danny Kofke about The Wealthy Teacher: Lessons for Prospering on a School Teacher's Salary on Monday's 700 Club.
Now, Danny Kofke shares how he and his wife, Tracy, learned to survive and even thrive on less, in a new book, The Wealthy Teacher: Lessons for Prospering on a School Teacher's Salary.