Money Wise: Understanding Teachers as Consumers

Happy Financial Literacy Month! April is the time to honor this important topic, especially how it relates to families and school.  Did you know that teachers as a group are known to be great at calculating the best financial strategy for their family? That’s one thing we learned from a study we commissioned from Simmons Market Research: Teachers as Consumers: Background, Interests, Buying Patterns, and Media Uses.

Here are some more insights about how teachers handle money:

Teachers Watch Their Pennies

MDR-teachers-financial

Teachers are in education for the mission, not the money. So, they tend to be financially conscientious. For instance:

Teachers have and use credit: Teachers are more likely than the overall population to have or use credit cards, making it easier for them to spread out payments over time.

Teachers save and invest: 77% of teachers have at least one type of banking product or investment, compared with 58% of the general population.

Teachers protect their health and wealth: 94% carry some sort of basic health, hospital, and/or life insurance in comparison with 84% of the overall population.

Teachers are savvy shoppers: educators are generally positive about promotions and coupons, especially those coming via email from trusted sources like friends or businesses they know.

Want to know more? The entire study is available for download, here.

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