Things to consider as Teachers-You also deserve better cars and houses title
Congratulations if you are reading this, it means you have been posted or you are interested in becoming a Teacher . Our group of experienced Teachers wish to draw your attention to something that has be bordering most teachers for decades.
Lets take you back a little.
For university graduates, no free lunch, You were not given any allowance in school, what ever you took from students loan you must payback and the clock is ticking. NSS allowance was really not enough, if you couldn’t do any side job or get any form of family assistance until now then you have borrowed from people, a lot of money.
Your Dept. will become worse as you have gotten appointment. Some of you maybe frauded especially the university graduates. You gave your documents to someone for help right? for a place of choice right? Now postings are released and you are placed somewhere else. He comes to you to complain its the system but you need to pay. You are duped and made your dept. worse.
For College student you have some assurance you will get the school but you don’t want a village, so you borrow some money to pay to be in the city. It comes and you are somewhere, you are duped. They will just collect your money and even if you see them on daily basis, there is nothing you can do about it. Because you knew it was wrong yet you went ahead to do it.
The borrowing continues
If your family doesn’t support you with accommodation and keep giving you money to survive, you will continue to borrow for rent and for food until your salary comes.
Your salary can take a minimum of three months to come whiles some can even take as long as nine months.
After submitting all your documents at the regional office, some times, it takes about a week or two for the officers to call you back for your introductory letter. It can take a week or more before you get your assumption of duty letter to proceed.
Now you have to wait for the release of Staff IDs. Which comes mostly in batches, first one comes after two months when all your documents are processed at HQ.
The month you do the Biometric, you won’t be paid but the following month is when the salary comes and if you are lucky all the months you have worked for is paid into your account as back pay; then you become sad again.
You become sad because all the money you take will be going away to pay dept.
In some Districts the Rural Banks gives new teachers some soft loan for upkeep, it’s mostly helpful, but you have to pay back.
Immediately you come on payroll, a lot of Banks that has subscribed at the controllers office will be sending you messages to come for loan, you need to be careful.
Now that the salary has started coming, you have also got the chance to take loans from the bank for anything, since your affordability is big all banks will be chasing you.
Why most Teachers are seen as broke and stingy
Well we don’t know your family background possibly they are highly supportive, then you don’t have much of a problem. But if not, then you will be hot.
Everyone now knows you are working and the amount you are taking is a lot per their calculation.
You take your salary today and if you don’t take care by the end of the week you will have to call a friend to send you money to survive. Don’t be surprised it’s so real.
The amount that comes, some is used to pay old dept., Union deductions, insurance etc.
Your friends will call you, all those you seek help from, you will have to return the favor.
You have to send money to the family and save something small. At the end, anyone that ask you for help, you can’t give because the money is finished and this repeats months after months then you are tagged stingy or Broke.
LOAN and Insurance
Its good to take loans, without the loans its sometimes impossible to survive. But this loan issue has brought a lot of teachers on their kneels.
Mind you, if you don’t do any business attach, the salary comes with no allowance. Even in some private schools at the end of the week you get something small as allowance, you also get something small at the end of every third week. The salary in the private school might be small but because of those small allowances, you are able to survive. With GES nothing comes to your account unless the end of the Month.
You might be forced to take loan looking at the situation and the problem you are in.
For years of teaching here is what we have realized our colleagues do, that affects them severely.
They go for impulse loans, impulse loans we describe it as not making the necessary calculations and just going for a loan to solve a menial problem.
Some are also deceived in investing in wrong business. Some also take loans for other people in the name the people can’t access the loan, so they put their salary on the line to get the loan for the person, for the person to payback to them.
There are so many ways to make you broke as a teacher, But the teaching Job, especially Government School teaching is one field you can be so rich from but there are so many forces that will make you not to realize this.
There are some few insurances you will be placed automatically, but most of the insurances, they will get close to you by a friend introducing you to it or a colleague. It’s good to insure but most insurance companies in Ghana are possibly not serving their purpose. Most Teachers enter into insurance and would have to cancel them, making them leave with their contributions. Some are also not paid their benefits when problems arise.
For some, even when you have cancelled them, they still deduct your salary.
Before subscribing to any insurance, you must take your time to read their terms and conditions very well before subscribing. The agents that usually come to speak with you would not tell you everything, they will only tell you the interesting parts and even sometimes lie, just to get you on the insurance.
One insurance could be enough. The rest of the money to be deducted as an insurance, save it yourself into a fix deposit account thus having your own insurance company.
For Borrowing you are going to borrow.
It’s way too easy to borrow now a days if you are a government worker. Daily advert on your phone, at your work place and even the unions are offering loans.
OUR ADVICE ON HOW TO SURVIVE
Since anything can happen and you will go for a loan we suggest you do this instead.
Make sure the loans you take from your friends, you payback. Those are mostly interest free loans and the more you build that trust of paying back, you will always be given when you need it.
Get a business, Plan on a business you can do. Not necessary a business you have to sit to do yourself. It could be a business you have to employ one or two persons. Take the loan and start the business. The interest on the loan can be saved or even spent, better than spending the loan amount and waiting to finish paying.
The loan officers calls something Affordability. Its this affordability that tells the amount of loan you can acquire.
What most people do wrongly. They take small amounts of loan, something else happens and they go for another by the time they realize they have so much to pay. Now they wait for a year when they get small affordability then they go for another.
Please don’t be like that, Use vim, go for 30, 000, 40, 000 and use it for business. The more you start with small loans, 1, 000 10, 000, you might not get the chance to take any substantial amount for business.
A Business and a House
Some will prefer to build a house first to eliminate their rent. Good idea but bad timing. Taking a loan for that will make you suffer too much before paying.
Take the loan and use for the business, save out of the business and Buy the land for the building. Your target should be a continuous flow of money into your account.
Before writing this article, we spoke with some businessmen and women to ascertain available business teachers can be involved.
Number one on the list
- Transport Business.
We were told the number one highest paid business is the transport business. And any Business with high returns has a huge risk to be taken. It is also capital intensive but it is wort the risk. We see this business to be easy for teachers, this business will not affect their contact ours.
Some Teachers are even seen with their own private vehicles which they have turned into Uber, Bolt etc. and making money. Others have also used theirs for taxi and after school you see them working.
2. Buying shares
Teachers sometimes condemn themselves and leave this lucrative aspect of making money by being afraid to buy shares in companies. Use your ridiculous number of insurance monies to buy shares and you will reap it.
You have ample time to do some findings on certain companies, buy shares from them and grow with them.
Blogging is now the new way to go. Most Techers are good writers, all you need is a unique content idea, and a Laptop. For time you will have in excess. Write fantastic content either for people to get paid or to your own website.
4. Establishing a school.
Its funny teachers do not establish schools. For years of teaching with all that experience teachers rather think of teaching in a big school to get better pay or going back to school to teach at higher level but not thinking of owning a school. You have all that it takes to own a school go for it. Be who you are trained to be. At the Colleges and Universities where education is done, They train teachers not only as class room Facilitators but also as Entrepreneurs and Administrators . But the only part used by teachers is being in the class room. Don’t be like that.
5. Use your specialization to make money. If you specialized in Graphic design don’t think you are only needed in the class room, use it to make money by working for people outside school.
If you teach Carpentry, take contracts from people and if possible invite some of your students to learn.
There are also direct jobs you can do,
Opening a shop around you to sell things needed at your community.
In todays world, everyone is making good money and teachers must not be left out.
If you do not take charge of your life now to take certain risk, you will live to regret later. Go out there take a sensible risk and pray it works.