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Are you one of the 50% of teachers suffering from financial worries?

Are you one of the 50% of teachers suffering from financial worries?

For the third blog in our Teacher’s Pet series, we decided to share further results from our recent research into the stress levels affecting teachers, and more specifically highlight the severe financial worries plaguing those in the teaching profession.

We’d like to ask you – do you suffer from financial worries?

If so, you’re not alone. Our research, involving over 700 teachers throughout Britain, showed that financial worries contributed more to the overall stress levels of teachers than either personal or health worries.

Throughout the research it became clear that financial worries were proven to be a key contributor to the overall stress levels of teachers, with many (37%) stating they believed they would either definitely or probably be a better teacher if they had fewer financial worries.

Changes to teachers’ pay and benefits were other factors contributing towards high stress levels within the profession, with changes such as pay freezes and pension reforms having an effect on overall stress levels. We’ll bring you more on the effects of these changes, and how teachers are feeling as result in next week’s post.

For our research we also teamed up with Jayne Morris, a professional health and wellbeing expert and resident NHS coach with many years’ experience dealing with those suffering from high stress and ‘burnout’. Jayne expressed that through planning their finances, teachers could reduce their overall stress: “With regards to finances a great deal of teachers’ stress could be alleviated if they had access to financial education and were given guidance with budgeting, savings pensions and protection plans like sickness cover.”

In order to assist teachers with both day to day financial planning and when looking to the future, Teachers Assurance has created a range of online financial calculator tools that are designed with teachers in mind. There are six calculators to choose from and each tackles a different area of financial planning, from budgeting to savings and even pension planning for the future. The calculator tools are free to use, and are available here.

Teachers Assurance offers a range of savings, investment, home insurance, health and life cover products for individuals and families that are designed with teachers in mind. For more information about Teachers Assurance, please visit www.teachersassurance.co.uk or call on 0800 056 0563.

Author: Teachers Assurance

Understanding our customers’ financial needs is our business. When life is too busy and stressful to look beyond the here and now, Teachers Assurance helps customers to think ahead to what they could make from their money. It is our aim to help our customers think ahead, make plans and start saving regularly now for a brighter financial future.

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