June 2, 2018

(Image Source: mai-evolution.blogspot.com)

After reading a blog post of Fitz Villafuerte, one of my favorite financial bloggers and is also one of the highly respected financial bloggers in the Philippines, on the 5 Financial Mistakes that 50-Year-Olds Regret The Most, I became curious on what common financial mistakes do teachers also regret.

In his blog, Fitz mentioned of the following sentiments of the 50-year-olds when it comes to their financial life. Actions that they should have avoided in their early years.

  1. Buying useless stuff
  2. Waiting for income to increase before investing
  3. Not planning for retirement
  4. Trying all sorts of get-rich-quick scam
  5. Relying on SSS pension alone

So, to see whether teachers also share with these feelings, I reached out to my fellow teachers around me. Some are from my Facebook messenger who happened to be online when I conducted the survey.

Without telling them about Fitz Villafuerte’s blog, I asked them about their financial mistakes that they regret as teachers.

After talking to them, it turned out that there are also 5 common financial mistakes many of us, teachers regret.

With their consent, I am sharing them below for you to reflect on and learn from.

5 Financial Potholes For Teachers

1. Accumulating Loans

Teachers are often offered with several loan opportunities. There is a salary loan, an emergency loan, a housing loan, and more xxx loans. That’s why teachers are often regarded as “taga-LONDON (LAON-don)”

One of the teachers shared how she assumed that earning your own monthly salary equals to being ready to apply for loans. So, she started borrowing money and also spending money that she still hadn’t had.

Some started to purchase home appliances on installment basis. So, a huge part of their monthly income is allotted for the monthly installment fee.

Also, some teachers who have credit cards weren’t able to control their spending habits. Whenever they go shopping, they often charge it to their credit cards. Until the debt grows as its interests and penalties accumulate.

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2. Failing to find additional sources of income

I often hear excuses such as teachers don’t have time to do extra work to earn extra income. I totally agree with that. As a teacher myself, 24 hours a day is not enough to deal with all the school work and house work.

Many are doing extra tutorials, some are also doing online selling of goods. But in order for them to continue doing these side hustles, they need to stop teaching or checking papers or doing reports.

Many teachers do not yet realize that there are other ways to earn extra income legally while they do they teach, prepare lessons, check test papers and even while they snooze at night. They just need to be more aware of these wonderful possibilities.


3. Prioritizing wants over savings

Some of the teachers also shared how they prioritize their wants over their savings.

One of them told me how she spent her money on phones, shoes and bags without allocating an amount for her savings. She remorsefully recall how she used to spend all her money all to herself without sharing some to her parents. She only realized and regretted her mistakes when she quit working.

Another sadly shares how she spent her money on Avon products and other stuff that are not really necessary. If she could have saved and invested all those wasted money, it could have already grown by now.

4. Not Being able to Save for emergencies

There are those who regretted the times that they weren’t able to save for emergencies. So, when emergencies arise, like when they needed medical attention, they have no choice but to borrow money.

5. Not being able to save and invest earlier

Many of the teachers I have talked to share the sentiment that they should have started saving as soon as they started earning their income.

They regret the years that have passed without being able to save.

One of the teachers I’ve talked to advises the young ones, those who are just starting to earn their income to start saving soon. No matter how small it is, if they do it every time they receive their salary, after several years, the savings will be significant.

What Other Teachers Do To Start Fix Their Finances

As I tried my best to connect with as many teachers as I can today, I am also glad to meet a few who have selflessly shared their saving tips which are:

1.      Setting a daily budget

2.      Setting a certain amount of money each month for savings

3.      Spending on family’s needs first before spending on wants

Start Your Own Brigada: Before It’s Too Late

Click On the Banner Above To Download a FREE Bo Sanchez Ebook

Brigada Eskwela is awlays done at the beginning of a school year. It is when teachers, parents, and the community prepare for the beginning of another school year in few days’ time.

They gather together, clean the school, repaint the desks, the walls, and beautify the school grounds to provide a conducive environment for pupils to learn.

It’s high time that teachers should also do a Financial Brigada: Brigada Hinto at Bayad Utang, Brigada Impok Na, and Brigada Invest Na to prepare for a better financial future. There’s still time.

I have written a 30-page eBook, especially written for teachers like me on how you can earn passive income even if  you are busy teaching in your classroom.

Just fill in the form below to download or receive a copy in your email.



P.S. 1: My special thanks to of all the teachers who participated in this survey and shared their financial experiences.

P.S 2: Let us hear from you, too. What is your financial mistake that you regret the most?  

P.S. 3: If you have some saving tips that you think are helpful to our fellow teachers, we love to hear them too below. 


  • I look forward that one day the curriculum include saving and investing and becoming entrepreneur and not only focused on preparing the students to become an employee.

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