Piggy Bank Award: Saving for a job loss

Tess Vigeland: And finally, we present this week’s Marketplace Money Piggy Award. Our little blue plastic friend is heading to the Twin Cities to visit someone we met a little while ago on the show. Ellen is an elementary school Spanish teacher who is about to lose her job because of cuts to the education budget there. We applaud Ellen for trying to get in front of what could be a very tough financial situation, one with no immediate answers.

Ellen: I’m trying to focus on the window-opening end of this experience, and I’m taking stock of my financial picture. For a long time, I’ve been considering working abroad again. But I want to make sure I’m in a position to do that.

Vigeland: So Ellen, to help you save every penny possible while you’re away from the classroom, our pig is on the way. We hope Ellen is able to use the advice we gave her this week to find creative ways to generate some more income. In the meantime, we thank her for her service as a teacher. Each week, we’re giving away a Marketplace Money pig.