The Nkwanta South branch of the Ghana National Association of Teachers (GNAT) has urged teachers to adopt sound financial management practices to address growing levels of indebtedness among educators.

The call was made during the Association’s Financial Literacy Week workshop, organised to educate teachers on prudent financial planning and responsible money management.

Speaking at the event, the Nkwanta South GNAT Chairman, Hanson Dzando, expressed concern over the financial difficulties facing some teachers.

According to him, excessive borrowing has forced some educators to surrender their Automated Teller Machine (ATM) cards to creditors, allowing them to deduct loan repayments directly from their salaries.

He described the situation as worrying, saying it deprives teachers of control over their own finances and underscores the need for better financial discipline.

GNAT Secretary, Gordon Kwesikyere, said the workshop was organised to help safeguard the welfare and integrity of teachers.

He noted that inadequate financial planning has driven many teachers into taking unnecessary loans, leaving them trapped in debt and affecting their financial independence.

The keynote speaker, Oti Regional GNAT Accountant Isaac Atakora Darkwa, advised teachers to adopt practical financial management strategies to secure their future.

He identified planning, budgeting, savings, investment and entrepreneurship as the five key pillars of financial stability.

Mr. Darkwa encouraged participants to develop long-term financial plans, live within their means, build savings, invest wisely and explore additional sources of income to improve their financial wellbeing.

He stressed that adopting these principles would help teachers avoid excessive debt and achieve greater financial security.

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