Many teachers’ summer vacations are filled with both personal and professional obligations. This could be taking on a second job, attending professional development, catching up on personal appointments, or providing childcare.
Income:
Almost half of all teachers will be working a second job this summer, with 90% of those jobs being in the education field: summer school (37%), tutoring (25%), or developing curriculum (28%).
Most teachers’ paychecks extend through the summer months, but some do not. 78% of teachers take a smaller paycheck throughout the calendar year so their money is evenly spread out and extends through the summer. However, 22% of teachers don’t have that option and need to budget carefully.
Spending:
With household debt now at record levels, a prioritization of a low-cost and free activities is this summer’s goal, with the predicted average cost of summer fun being $2,230.
Even with that prioritization approach, nearly 60% of households won’t have enough money budgeted and just under half believe they’ll take on more credit card debt to cover the additional expenses.
Rellevate Can Help Teachers and Support Staff Stretch Their Income Throughout The Summer (and Avoid Credit Card Debt)
EWA (or Earned Wage Access) is a new way for your employees to get paid and is currently one of America’s fastest growing employee benefits.
Rellevate’s EWA platform called Pay Any-Day is on the forefront of the new payday revolution and currently enrolling School Districts across the country, allowing thousands of teachers to have access to their pay every day at zero cost to them or the District. Getting paid every day helps teachers by giving them better cash controls, money management and planning tools.
Earned Wage Access is proven to help employees:
✓ Up to a 32% increase in the ability to meet basic needs
✓ Approximately $1,200 a year in savings
✓ Reduction of job-related financial stress by up to 76%
Rellevate’s revolutionary Pay Platform, featuring Pay Any-Day, is a zero-cost Employer/Employee benefit
