Educators form the backbone of our society, teaching children and creating community hubs of information, connection, growth, and creativity in our public schools. Given this important role, all educators should receive guidance and professional support to help ensure they are able to make the most of their salary and benefits and fully enjoy their retirement when the time comes. In this article, we explore how financial planning can be a tool for empowerment for women educators.

The importance of financial planning for women educators

Women educators experience unique dynamics and challenges within their profession. It’s therefore wise to seek professional guidance in financial planning. It’s no surprise that educators tend to be well-educated—  51% of public school teachers hold a Master’s degree. However, salaries for educators tend to be lower than other professions which require an advanced degree. As a result, the Education Policy Institute reports educators “earn 23.5% less than comparable college graduates.” Additionally, around 45% of educators report taking out loans to pay for their own education, with an average debt of $55,800.00. Due to school district budget cuts as well, as many as 90% of educators find themselves spending personal money on necessary classroom supplies— an average of $500 annually.  Beyond these financial commitments, teaching requires enormous dedication and tends to draw people willing to make significant emotional and personal investments.