Money Management

The national average starting salary for educators is $41,770. 

It’s no secret that American teachers have a tough job. Facing twice as much job-related stress as the average worker, it is no wonder there are more job vacancies among teachers than almost any other industry. The American Teacher Act would attempt to stem the outflow of American educators by increasing the base pay of teaching positions. What’s in the bill and will it pass? Read on to find out.

The state of the industry

Since at least 2017, the American education system has had a big problem: too many job openings to fill and too few educators to fill them. The crux of the problem has to do with supply and demand. While the number of job openings for educators have nearly doubled since 2020, the number of hires has stayed relatively constant over that same period.

There are a few big reasons behind the lack of educators in the teaching profession pipeline. First, teaching as a profession simply doesn’t have the same prestige it once did. A 2018 study found that, for the first time on record, the majority of Americans did not want their children to become teachers. This could explain why teacher preparation enrollments fell by over 30% in the last 15 years. And of those who complete an educator program, nearly half leave the profession in the first five years.

The COVID-19 pandemic took the teacher crisis from bad to worse. In March 2020, teacher layoffs quadrupled as school districts prepared for a lengthy lockdown. Since the beginning of the pandemic, teachers have quit at a rate approximately two times higher than a decade before. In an industry already facing a lack of workers, more educators are leaving the profession than ever before, while fewer prospective teachers are taking their place.

Read more: How to Retire With $1 Million on a Teacher’s Salary

The American Teacher Bill

Introduced in December 2022 by Representative Frederica Wilson (D-FL), the American Teacher Act would attempt to attract new educators in two different ways. First, the bill would raise the minimum wage, positively affecting the personal finances of American teachers. Second, it would launch a national campaign to raise awareness of the teaching profession.

The headline-snatching provision of the American Teacher Act would raise the minimum wage for all full-time K-12 teachers to $60,000 annually. Additionally, the bill would include an inflation adjustment at the start of the 2025-2026 school year. The pay floor would be funded by a federal grant made to each state’s department of education. Enrollment would not be required, and the state department would need to reapply for funding every four years.

Another provision of the bill calls for a national campaign to show the value of the profession to the American public. The campaign would:

Raise awareness of the importance of teaching.Encourage high school and college students to consider teaching as a profession.Diversify the pool of prospective educators.

Will the bill pass?

Shortly after being introduced, the bill was referred to the House Committee on Education and Labor. Whether the bill will be subject to material changes in committee is yet to be seen, and the actual text of the bill will weigh heavily on the odds of it passing through the House. Beyond the House, the bill would also have to be approved by the Senate, and then signed into law by the president.

As of now, the principle of the bill appears to have support on both sides of the aisle. Democratic President Joe Biden has made broad pledges to offer teachers competitive wages, and Democrats in both the House and Senate are expected to follow suit. Educational reform is being touted by Republicans, too, with Republican governors in at least five states promoting raising the salaries of educators in recent years.

When it comes to filling jobs with qualified teachers, the American education system is at a crisis point. The American Teacher Act seeks to retain talented teachers and inspire the next generation of educators through pay raises and national campaigns. Whether the bill will pass into law, and in what state, is yet to be seen. But for now, American teachers can hope for bipartisan support in the House.

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Steer clear of these to make the most of your shopping experience.  

Grocery costs are probably one of the biggest expenses in your household budget. You may not spend as much on food as you do on your mortgage payment, but you probably spend a bundle — especially if you have a larger family to feed.

That’s why it pays to find ways to load up on groceries while keeping your credit card bills to a minimum. And shopping at Aldi could be a great way to do just that.

Aldi is known as a discount grocer, so you might spend less on the food you buy there than a chain like Kroger or ShopRite. But if you’re going to start shopping at Aldi, there are certain pitfalls you should really take care to avoid, like these.

1. Assuming you’ll find everything you need

Aldi may have low-cost groceries, but it doesn’t necessarily have the most broad or consistent selection. If you’re intent on finding a certain type of pasta, for example, then Aldi may not be your best bet, because while it might have penne in stock, if you need spaghetti, you may be out of luck.

2. Falling in love with off-brand products

More than 90% of the goods you’ll find at Aldi are private label brands, as opposed to the national brands you commonly see advertised on TV. But because Aldi is constantly rotating its product line, you may not find the same brands in store week after week. This could be a problem if you have family members who are picky eaters, because if they fall in love with a certain product, you may not be able to find it again.

If you do come across a product you enjoy at Aldi, you may want to make a repeat trip to the store a day or so after and stock up. If you wait too long, you might actually never see the item in question again.

3. Forgetting to bring a $0.25 deposit for your shopping cart

One of the ways Aldi saves on costs — and then passes that savings along to consumers in the form of cheaper groceries — is by not hiring extra workers to round up shopping carts after customers are done with them. Rather, Aldi relies on customers to return those carts themselves.

But as we all know, people don’t always do the courteous thing. So Aldi effectively forces you to do so or otherwise pay the price.

To access a shopping cart at Aldi, you need to put down a $0.25 deposit. You’ll then get your money back once you return your cart to its proper location. But if you fail to bring your quarter, you might have to do your grocery shopping without a cart. And if you’re buying a lot of things, that won’t be easy.

Aldi can be a great place to shop. It can also be a lifeline for families on a tight budget. But do your best to avoid these traps in the course of buying your groceries there.

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We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.Maurie Backman has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

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Falling behind on those payments could have lasting consequences. 

If you own a home that’s part of a homeowners association, or HOA, you’re in good company. In 2021, more than 82% of newly constructed homes sold were part of an HOA, as per iPropertyManagement. And an estimated 53% of all homeowners live in an HOA community.

HOAs can really be a mixed bag. On the one hand, the monthly dues can be expensive. And if you happen to have a larger mortgage loan to contend with, those fees can be especially burdensome.

On the other hand, your HOA fees are designed to pay for different amenities you get to enjoy. These could include a community swimming pool, tennis courts, and a fitness center, depending on where you live.

When you buy a home that’s subject to ongoing HOA fees, it’s important to make sure those dues fit within your budget. But what if money gets tight or your income decreases and you start to fall behind? Not paying your HOA fees could have unfortunate consequences, so it’s important to avoid that situation to the greatest extent possible.

The repercussions could be severe

You might miss an occasional HOA payment due to human error or being short on funds for the month. Usually, if you pay that bill upon getting a reminder notice, nothing too bad will come of it (though you may be assessed a late payment penalty or fee).

It’s when you stop making those payments altogether that more severe repercussions can arise. Those will hinge on your HOA’s rules, and in some cases, the state you live in. At a minimum, you might face late fees, penalties, and different restrictions. For example, your HOA’s rules might dictate that you can’t use common facilities like the gym or pool if you’re delinquent on your dues.

In other cases, your HOA could sue you for unpaid dues, and from there, it may have the right to garnish your wages to get paid. And in an even more extreme situation, your HOA might be able to move forward with foreclosure proceedings on your home.

What to do if you can’t pay your HOA fees

If you’re having trouble keeping up with your HOA fees, don’t ignore the problem. One of your first steps should be to reach out to your HOA board, discuss your situation, and see what help they can offer. In some cases, you may be eligible for a grace period of sorts, or you may be able to work out another arrangement.

That said, you generally can’t expect to keep on living in your home without paying your HOA dues for an extended period of time. So if you’re experiencing a financial hardship and don’t expect your circumstances to change for quite some time, you may want to consult a legal professional to find out what your options are.

You should also know that if you fall behind on your HOA fees, your homeowners association could make it difficult to sell your home. So consulting a legal professional is a good way to protect yourself and help you emerge from that unfortunate situation with the best outcome possible.

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You don’t have to go hungry to keep your costs down. 

Inflation is making it really difficult for a lot of people to pad their savings accounts these days. Grocery costs are up 11.3% on an annual basis, according to the most recent Consumer Price Index. And a recent Wall Street Journal article pointed out that egg prices are up 70.1% over the past year — the highest annual increase since 1973.

But that article has also been met with a bit of controversy. Its headline is “To Save Money, Maybe You Should Skip Breakfast.” And while one would assume that this advice is meant at least somewhat in jest, the Internet seems pretty angry about it.

Of course, a good way to save money on food is indeed to buy less of it. But it’s also not necessarily the most healthy or practical solution to the problem of higher food costs. So if you’d rather save money on groceries without going hungry or skipping meals, here are some tactics to employ instead.

1. Buy in bulk strategically

You’ll often pay less per ounce or unit when you buy groceries in bulk rather than in smaller quantities. And you don’t even need a Costco membership to buy in bulk. Amazon carries a number of pantry staples in bulk quantities, and your local supermarket might have its own selection.

That said, it’s important to buy the right things in bulk. If you’re not sure whether you can consume perishables like meats, cheeses, and produce before they go bad, stick to smaller quantities and save the bulk buying for products like cereals and grains. If you purchase bulk items at a lower price per unit or ounce but wind up throwing one-third of your haul away, you won’t end up saving yourself money.

2. Look to discount grocers

Shopping at discount grocers like Aldi will commonly result in a lower credit card tab than sticking to traditional supermarkets. Now one thing you should know about stores like Aldi is that you’ll need to exercise patience when shopping there, because the inventory isn’t always consistent. But if you have a discount grocer like Aldi nearby, and stopping in a few times a week isn’t so inconvenient, you may find that you’re able to save quite a bit while eventually procuring all of the things you need.

3. Don’t forget about dollar stores

Your local dollar store may not be your go-to source for groceries. But if you look around, you might find certain staples at an unbeatable price point. And if you’re convinced that buying food at your local dollar store will mean getting stuck with a brand you’ve never heard of, think again. Often, you’ll find recognizable names on the shelves, only at a lower cost than your nearby grocery store.

Whether the Wall Street Journal actually thinks it’s a good idea to skip breakfast or not, the reality is that you can lower your supermarket spending without having to go to that extreme. In addition to buying in bulk, frequenting discount grocers, and scoping out dollar store selections, one easy way to save on food is to simply be mindful of sales. Read the circular that lands in your driveway rather than toss it, and buy things your family eats often when they’re available at a discount. Doing so could help your paycheck go further at a time when food prices are so elevated.

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We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Maurie Backman has positions in Amazon.com. The Motley Fool has positions in and recommends Amazon.com and Costco Wholesale. The Motley Fool has a disclosure policy.

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Image source: Getty Images
What happenedThe price of some of Nestlé’s products will increase further this year. Nestlé is the world’s largest food company and increased its prices by 8.2% in 2022. That wasn’t enough to offset the higher costs the company incurred in the course of producing its line of consumer goods.So whatNestlé owns about 2,000 brands, so its price hikes have the potential to impact a wide range of consumers. Some of the company’s more well-known brands include Cheerios, Gerber, Stouffer’s, and Lean Cuisine. Nestlé also owns a number of pet food brands, including Alpo and Purina, so price increases have the potential to impact those with pets at home.Nestlé has not announced which brands will specifically be looking at price hikes. But given the company’s reach, consumers should brace for a broad impact.That said, Nestlé isn’t necessarily raising prices across the board. Rather, Nestlé CEO Mark Schneider explained that its price increases will be “very targeted” and only come into play when the cost of producing specific goods rises enough to require those hikes. “We are still in a situation where we’re repairing our gross margin and, like all the consumers around the world, we’ve been hit by inflation and now we’re trying to repair the damage that has been done,” Schneider said. Now whatAt a time when so many consumers are raiding their savings and racking up credit card debt to cope with higher grocery costs, Nestlé’s plan to raise prices isn’t welcome news. As of January, grocery prices were up 11.3% on an annual basis, as per the Consumer Price Index. And the cost of food at home rose at a faster pace than the cost of food outside the home.But that doesn’t mean dining out more frequently is the solution to higher grocery prices. Those eager to save money on groceries should look to buy in bulk for items that have a longer shelf life and are used often in their households. Most of the time, buying in bulk means snagging a lower price per ounce or unit than buying food in smaller quantities. Consumers who are struggling with higher grocery bills can also turn to discount grocers and dollar stores to fill their pantries. Often, shopping at these establishments will result in some savings.Finally, being mindful of supermarket sales could go a long way toward keeping grocery spending down. The same goes for meal-planning. Supermarkets commonly lure consumers into impulse purchases, but figuring out meals in advance and writing out lists could make it less likely for shoppers to end up with extra purchases they don’t really need. And at a time when food prices are so high, that’s important.Alert: highest cash back card we’ve seen now has 0% intro APR until 2024If you’re using the wrong credit or debit card, it could be costing you serious money. Our experts love this top pick, which features a 0% intro APR until 2024, an insane cash back rate of up to 5%, and all somehow for no annual fee. In fact, this card is so good that our experts even use it personally. Click here to read our full review for free and apply in just 2 minutes. Read our free reviewWe’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.Maurie Backman has positions in Target. The Motley Fool has positions in and recommends Target. The Motley Fool has a disclosure policy. 

What happened

The price of some of Nestlé’s products will increase further this year. Nestlé is the world’s largest food company and increased its prices by 8.2% in 2022. That wasn’t enough to offset the higher costs the company incurred in the course of producing its line of consumer goods.

So what

Nestlé owns about 2,000 brands, so its price hikes have the potential to impact a wide range of consumers. Some of the company’s more well-known brands include Cheerios, Gerber, Stouffer’s, and Lean Cuisine. Nestlé also owns a number of pet food brands, including Alpo and Purina, so price increases have the potential to impact those with pets at home.

Nestlé has not announced which brands will specifically be looking at price hikes. But given the company’s reach, consumers should brace for a broad impact.

That said, Nestlé isn’t necessarily raising prices across the board. Rather, Nestlé CEO Mark Schneider explained that its price increases will be “very targeted” and only come into play when the cost of producing specific goods rises enough to require those hikes.

“We are still in a situation where we’re repairing our gross margin and, like all the consumers around the world, we’ve been hit by inflation and now we’re trying to repair the damage that has been done,” Schneider said.

Now what

At a time when so many consumers are raiding their savings and racking up credit card debt to cope with higher grocery costs, Nestlé’s plan to raise prices isn’t welcome news. As of January, grocery prices were up 11.3% on an annual basis, as per the Consumer Price Index. And the cost of food at home rose at a faster pace than the cost of food outside the home.

But that doesn’t mean dining out more frequently is the solution to higher grocery prices. Those eager to save money on groceries should look to buy in bulk for items that have a longer shelf life and are used often in their households. Most of the time, buying in bulk means snagging a lower price per ounce or unit than buying food in smaller quantities.

Consumers who are struggling with higher grocery bills can also turn to discount grocers and dollar stores to fill their pantries. Often, shopping at these establishments will result in some savings.

Finally, being mindful of supermarket sales could go a long way toward keeping grocery spending down. The same goes for meal-planning. Supermarkets commonly lure consumers into impulse purchases, but figuring out meals in advance and writing out lists could make it less likely for shoppers to end up with extra purchases they don’t really need. And at a time when food prices are so high, that’s important.

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We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.Maurie Backman has positions in Target. The Motley Fool has positions in and recommends Target. The Motley Fool has a disclosure policy.

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