Summer Cash

While you may get those two months to recover, rest, reflect and begin planning for next school year; what you don't get is 12 months of pay. Many school systems offer a program where 10 month employees can sign up to have money deducted from each of their 10 checks so that their pay can be stretched over 12 months. That's great, especially for the beginning teacher that is barely earning enough to live on and definitely hasn't learned how to budget yet.
However, what many teachers don't realize is that local banks and credit unions offer "Summer Cash" programs. You must be an educator to qualify but the bank will deduct your requested amount on a monthly basis and transfer that money into a high interest savings account. You can't access the money during the 10 months of the school year but when the summer comes, the money is then transferred into your regular account as if you earned two additional paychecks, plus the interest earned over the 10 months! It's a great way to earn an extra few hundred dollars over the course of the year.