By Gilbert M. Forbes
DepEd Quezon, CALABARZON
(Note: This articles also applies to all young professionals, newly and currently employed both public and private, members of the informal economy, entrepreneurs, and all who have a way of earning.)
Having no resources to support education in other fields that will warrant a higher income, many opted to take education as a stepping stone but still land as a full time license teacher in the end. Teaching however in the public school at present already command an above the daily minimum wage salary. In fact, above the entry level salary of call center agents and most professionals starting a career. So, becoming a teacher and getting employed should be making a difference to the family members and most of all to the individual teacher in the economic bracket where most teachers came. Handling finances properly should have been a way for a better life - much better life of poverty prior their graduation in college. But this is not the case of some of our new and even senior teachers.
Upon permanent employment was the improvement in their buying capacity and so the sudden change in their lifestyle including immediate family members. Instead of putting savings a priority, of increasing their net worth, they stumbled on a spending spree. They start renovating or constructing a new house without careful planning, start to buy signature clothes, gizmos and gadgets. In other words, they start to embrace a middle class life style instead of maintaining their previous simple life style only to find out later that they are already indebted to the neck. What is worst at times, they have exploited family members to join them in the band wagon. The cost, they have become poorer. The worst case scenario is that some family members became dependent which is not the case when the teacher is still studying to be one.
It is very frustrating that many of these teachers education were financed by peoples taxes (for those who studied in state colleges and universities) and subsidized by the government and some private individuals as scholars (for those who studied in some private schools) to help them get out of poverty but end up even poorer due to complicated lifestyle for some after just three to five years in the service or worst after marrying a bum.
On the other hand, others became highly indebted after financing expensive education of younger siblings which don’t match their interest and skills or are just results of peer influence, a fad. These courses charge very high tuition fees and yet the probability of getting employed after graduation is so thin and so appears to be so impractical that it has only put the financier in debt in the end. Or failure to save or get protection for emergencies like sickness and death.
These situations proved to be not only demeaning and alarming on the part of the teacher experiencing it but to their mission of educating the youth and most importantly to teaching as a profession. Commonly, end result is burnt out and lack of professional direction. Hence, their mind is already pre-occupied where and how to get money to meet their daily needs. They have memorized and master when and how they could renew their loans in different lending institutions in every three months. Some even does it on a monthly basis leaving them with only a quarter of their monthly salary for a living—supplanted by renewable loans from any available credit sources. Indeed, these debtors have mastered the art of loaning and in return have lost their sense of propriety.
With the influence of materialism so strong that some have forgotten the disparity between what is needed and wanted, financial literacy or stewardship is seen to be a form of relief if not the total solution. This is something that should be looked into not only by Teacher Education Institutions but most importantly by the Department of Education to educate teachers, students, and the rest of the stakeholders. The Commission on Higher Education and the Technical Skills Development Authority in partnership with other government agencies should also do the same.
If everybody would be financially literate and educated, they would be motivated to plan for their future, embrace a simple life style or live simply, become responsible stewards, and to acquire the means to help more i.e., to be wealthy or financially independent. As spiritual and religious writers put it, they’ll be financially independent or get rich for others in their respective pace. Just imagine if all salaried workers both in the government and private sectors including the OFW’s will learn and practice how money works as a result of being financially literate to a lesser extent. Come to think of its effect to the country’s progress and economy!
(This article also applies to other government employees particularly policemen who because of being financially illiterates have become hoodlums and kotongs in uniform. To other government employees and politicians who have become corrupt, private employees and OFW’s who even with their fat salaries have not improved their lives. To micro entrepreneurs and informal sectors of the economy who have stagnated through the years.)
You may also liked:
7 Ways to Avoid Bad Debt
Ang Tunay na Mayaman
The Value of Personal Finance
(The writer is an educator who was also a victim of financial ignorance. Upon stumbling on a financial literacy book in 2005, he realizes his own situation and soon financial literacy or wellness has become a part of his personal advocacy aside from politics, good governance, education and environment. He holds baccalaureate and post-graduate studies from the Philippine Normal University and currently employed as a school head in DepEd.)
DepEd Quezon, CALABARZON
(Note: This articles also applies to all young professionals, newly and currently employed both public and private, members of the informal economy, entrepreneurs, and all who have a way of earning.)
Having no resources to support education in other fields that will warrant a higher income, many opted to take education as a stepping stone but still land as a full time license teacher in the end. Teaching however in the public school at present already command an above the daily minimum wage salary. In fact, above the entry level salary of call center agents and most professionals starting a career. So, becoming a teacher and getting employed should be making a difference to the family members and most of all to the individual teacher in the economic bracket where most teachers came. Handling finances properly should have been a way for a better life - much better life of poverty prior their graduation in college. But this is not the case of some of our new and even senior teachers.
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| Photo courtesy of Google Images. |
It is very frustrating that many of these teachers education were financed by peoples taxes (for those who studied in state colleges and universities) and subsidized by the government and some private individuals as scholars (for those who studied in some private schools) to help them get out of poverty but end up even poorer due to complicated lifestyle for some after just three to five years in the service or worst after marrying a bum.
On the other hand, others became highly indebted after financing expensive education of younger siblings which don’t match their interest and skills or are just results of peer influence, a fad. These courses charge very high tuition fees and yet the probability of getting employed after graduation is so thin and so appears to be so impractical that it has only put the financier in debt in the end. Or failure to save or get protection for emergencies like sickness and death.
These situations proved to be not only demeaning and alarming on the part of the teacher experiencing it but to their mission of educating the youth and most importantly to teaching as a profession. Commonly, end result is burnt out and lack of professional direction. Hence, their mind is already pre-occupied where and how to get money to meet their daily needs. They have memorized and master when and how they could renew their loans in different lending institutions in every three months. Some even does it on a monthly basis leaving them with only a quarter of their monthly salary for a living—supplanted by renewable loans from any available credit sources. Indeed, these debtors have mastered the art of loaning and in return have lost their sense of propriety.
With the influence of materialism so strong that some have forgotten the disparity between what is needed and wanted, financial literacy or stewardship is seen to be a form of relief if not the total solution. This is something that should be looked into not only by Teacher Education Institutions but most importantly by the Department of Education to educate teachers, students, and the rest of the stakeholders. The Commission on Higher Education and the Technical Skills Development Authority in partnership with other government agencies should also do the same.
If everybody would be financially literate and educated, they would be motivated to plan for their future, embrace a simple life style or live simply, become responsible stewards, and to acquire the means to help more i.e., to be wealthy or financially independent. As spiritual and religious writers put it, they’ll be financially independent or get rich for others in their respective pace. Just imagine if all salaried workers both in the government and private sectors including the OFW’s will learn and practice how money works as a result of being financially literate to a lesser extent. Come to think of its effect to the country’s progress and economy!
(This article also applies to other government employees particularly policemen who because of being financially illiterates have become hoodlums and kotongs in uniform. To other government employees and politicians who have become corrupt, private employees and OFW’s who even with their fat salaries have not improved their lives. To micro entrepreneurs and informal sectors of the economy who have stagnated through the years.)
You may also liked:
7 Ways to Avoid Bad Debt
Ang Tunay na Mayaman
The Value of Personal Finance
(The writer is an educator who was also a victim of financial ignorance. Upon stumbling on a financial literacy book in 2005, he realizes his own situation and soon financial literacy or wellness has become a part of his personal advocacy aside from politics, good governance, education and environment. He holds baccalaureate and post-graduate studies from the Philippine Normal University and currently employed as a school head in DepEd.)
