Financial nightmare for many teachers possibly coming to an end

VANCOUVER (NEWS1130) – The education dispute is possibly nearing an end, which has to be great news for teachers who have been without a paycheck since June.

Leah Drewcock with the accounting firm BDO says it’s been a tough go for teachers who had only been getting strike pay, which eventually ran out.

“Oh my goodness, teachers have lost thousands of dollars in pay during the last three months and many families who have two teachers and have gone without income for the entire summer are really struggling. The average Canadian may only have one month worth of savings to cover an emergency. So how did these teachers manage without their regular income? It must have been very difficult,” she expresses.

Drewcock acknowledges many have done what they can to get by, but that’s often not enough. “Many of them have done what they can to cut costs. They’ve cancelled their travel plans, others have taken extra jobs to compensate. Many of them have had to use credit to survive, to get by.”

She encourages any who are falling behind on payments not to be shy, and to talk to their creditors. “Talk to a trusted professional like an administrator of a consumer proposal or a trustee in bankruptcy. There’s no shame in asking for help because not everybody knows where to begin.”

Drewcock also says a budget is “not a scary thing, it’s quite simple” and can help when it comes to figuring out how quickly they can pay back credit card bills racked up during the strike.