6 Priceless Teachers Saving And Investment Advice for SMART Teachers

A good saving and investment culture among educators can lead to a fulfilling life but only SMART Teachers will consider this priceless investment advice.
Although teaching is a noble profession and hundreds of thousands are employed across all levels of education, teachers need help to make them developed good financial resource management and utilization before they retire.
In the past, retired teachers have looked miserable upon retirement and we hope through this write-up, we can help light up the bulb in the minds of our cherished educators to better position them to have a glorious future.

Investing in yourself is the best investment you will ever make. It will not only improve your life, it will improve the lives of all those around you. Robin Sharma
All teachers, those undergoing training, and those who are not teachers but know one or live with one must read this piece carefully and help pass on this information.

It is important to know how to do it, use your earnings judiciously, and invest in their future. It all begins with the choices you make from today. Teachers saving and investment must be a daily lifestyle to achieve the needed effect.
Learning is not attained by chance, it must be sought for with ardor and diligence. – Abigail Adams
What are the 6 priceless investment advice for SMART teachers?

#1 Teachers must learn to save

Teachers must not spend their monthly earnings on only consumables but rather save or keep a portion in a special account for investment purposes. Keeping founds meant for investment or savings in your ordinary bank account can compel you to spend. Upon opening this account, do not apply for an ATM card. This can make you spend easily what you are saving.

#2 Learn to Invest

An investor without investment objectives is like a traveler without a destination. Ralph Seger

Each time you are transferred, scan the community, identify a business opportunity, and invest strategically and carefully. A posting to an urban area may create opportunities for additional income, just as owning a farm in the village could earn you some money if you are transferred into a farming community. You can expand your knowledge base by upgrading your self to further boost your long-term salary.

An investment in education always pays the highest returns. – Benjamin Franklin

Try and put about 10 to 20 percent of each paycheck into savings or even more if you can. In the future, you will be grateful you did. Next, set a goal to invest 15% of your income for retirement.

#3 Watch your family size

A big family size means more mouths to feed, more minds to educate, more money to sped out of the monthly income of the teacher.

One’s family size is important if you are to be able to save and invest, giving your level of income. Teachers are encouraged not to have large families. Don’t give birth to so many children as if the biblical verse of multiplication was only meant for you and your grandmother. It has been the practice of teachers who are transferred from one community to have children scattered all around. This can affect your health later in life. Health is wealth.

#4 Don’t take loans for cars

This is one big mistake many teachers do. If you take a loan, invest it in a business, manage it, and accumulate some worth or profit towards the car.

However before you own a private car, consider owning a tax or convert your car into an Uber. That becomes a source of income for you. If you are able to do this, you should gradually be able to manage your monthly income very well, build up an empire of financial strength and use the resources to put up a bungalow, not a small structure. Teachers must have the Think Big, Start Small Mentality.

#5 Don’t spend the whole day in school

Very often some teachers stay on the school premises late into the day for varied reasons. This is not the best if you are on campus performing no meaningful task. You can use that time spent on the premises to provide after school classes in a home where your service is needed, or manage your private business or write a book in the subject area you teach. Spending the whole day in school will only get you a nickname. Operate within the ministry of education’s time frame.

#6 Don’t make the mistake of older teachers

To know and appreciate the dangers of not thinking of your future as a teacher, look at the elderly ones who retired from education. The miserable retirement life of some of them must inspire you to do better from today.

Those among them who failed to invest while earning a monthly salary must be your guiding mirror. Owning a big phone fr instance is poor thinking, a teacher having several love partners is also a wasteful one. Those that spend after school hours doing nothing are wasting their lives away.

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Do not wait until a few years to retirement before you regret it and plan to own a house from your retirement benefit. Own a land, build your house before you retire as a teacher. While at post, look at your tomorrow, don’t be a sycophant, and do not exaggerate budgets for co-curricular activities to make some extra money, such things block your blessings. Uphold ethical standards

Financial planning for teachers should occur at least twice a month. Plug leaks, spend less, save more. Knowing where you’re at is half the battle.

Finally, don’t become the favourate of your headteacher for being the chief gossip that feeds your boss with information. Your future in the school and success should not be tied to another person. Your future is in your hands. Get hold of it, grow it, learn it, live it, and don’t be deceived, the teachers saving and investment culture is a lifelong commitment.

According to Sydney J. Harris, “The whole purpose of education is to turn mirrors into windows”. It is hoped that this investment advice has been an eye-opener on teachers saving and investment culture toward a better future.

Source: NewsGhana24.com | Wisdom Hammond