06/03/2022
*The story of the wealthy professor and some high school teachers*
A group of young high school teachers once wrote to a professor âwe heard that you are now a rich professor and an entrepreneur. We want to be like you even though weâre just high school teachers, we would like to be entrepreneurs and become Wealthy. We wish to stay in the teaching profession. Please share with us your experiences we'd like to learn from it and we know that itâs left for us to make the necessary adaptation.
As the professor sat down to write his reply, he suddenly realized how many teachers lack the basic principles of Financial Intelligence.
Financial intelligence is simply your ability to understand how money worksâ
It Involves concepts like, Budgeting, savings and Investing, Financial safety, credit/ debt and interest.
In his final analysis, the professor identify 3 types of teachers. The first group of teacherâs are:
⢠The academic entrepreneurs
Closely followed by the next group,
⢠The business entrepreneur( teacher)
And the third group of teacherâs are,
⢠The ordinary teachers
Teacherâs in each of these groups reacts differently when it comes to issues concerning their personal finances.
In his submission, the professor wrote;
The academic entrepreneurs are first teacherâs, but theyâre after Financial safety. They leverage on their skills to make money and invest part of their income on long-term. Theyâre not so Wealthy but definitely financially worry- free.
Theyâre hardly affected by redundancy, frequent salary delays or even retirement.
While the second group:
⢠Business entrepreneur (teacherâs) these are business entrepreneurs first, theyâre teacherâs because they love to share what they know and help others succeed. The practical wisdom of teachers in this group is authentic. They engage in entrepreneurship by turning their passions into a business and those who succeed are rich.
â˘The Ordinary Teachers: These teacher's who simply believes that they can't do anything to improve their finances. They easily pass the blame on government and considered themselves as "poor teacher's" who can not be very Wealthy and so they gave themselves up to fate. Rather than looking for new opportunities to earn extra income. They depends solely on their monthly salary's which is hardly enough to carter to their needs and that exposes their financial lack whenever their is a short fall in salary payments, strike or any other unforseen circumstances.
Now while many teachers fall within the third group, very few of us belong to the first group and a fewer teacher fell into the second group.
The professor concluded therefore, that in other to be very rich or Wealthy as a teacher, we have to take concrete and visible steps in other to create the financial outcome that we want for ourselves as Teachers. Little steps such as having a financial blueprint. Having the ability to understand how you earn, save and invest, and give out your money. And most importantly having a positive mindset to take advantage of every opportunity to build capacity to earn higher wages.
The Big question now is, Which of these group did you belong!
End.
