According to the Occupational Employment Statistics Survey, there are about 6.1 million teachers in the United States, making up about 2 percent of the population. Teaching is an extremely popular profession, but it does require a lot of hard work and dedication to your career. From schooling to certifications and placement, the path to becoming a teacher can be littered with detours and hard turns. One turbulent problem that many people don’t consider is personal financial problems.
How Financial Problems Affect Your Career in Teaching
The three digits that define our credit score also define who we are and how we are perceived by potential employers. As part of employment screening, potential employer and/or school can pull a credit report that details your credit activity and credit history. Many schools put a high wager on this aspect of your application as it is important in a teaching career to be able to manage your finances.
Teaching is also not a profession with a lot of financial security. Anywhere between 40 and 50 percent of teachers will leave their classroom within their first five years of teaching and about 9.5 percent will leave the classroom in the first year. Turnover for teaching is four percent higher than any other profession and many teachers that quit cite financial security as a major motivator for leaving. If your financial situation is not squared away prior to entering the field, it can be hard to stay afloat and maintain a good work balance.
How to Fix Your Financial Problem
You will want to fix your financial problems before applying to teaching jobs. If you’re struggling with debt, you should sit down and start drafting a plan. Some ways you can improve your credit are to pay your bills on time, keep a low balance on your credit cards, and apply for new credit cards only when necessary. However, the biggest way to change your financial problems is to reduce the amount of debt you owe. If you’re struggling with money, seek some debt management advice to help reduce the amount you pay monthly. These lower payments can help you reorganize your finances and ensure that employers see a positive credit report.
The path to becoming a teacher is a long and hard one. However, along the way, you need to make sure that you remember every aspect that could affect your chances – including your personal finances and credit score.