Teachers Facing Financial Challenges Amid Rising Inflation

By Meg Oliver
Meg Oliver is a CBS News correspondent based in New York City, with over 20 years of experience in journalism.

Plainfield, New Jersey — Christine Regal, a dedicated teacher in Plainfield, New Jersey, always aspired to work in education. ‘I just love working with kids,’ said the 54-year-old. She has maintained connections with many former students across her 26-year career. Her commitment as a teacher demands additional efforts to sustain her living expenses.

Regal engages in multiple roles beyond teaching by handling breakfast and lunch duties at her school. She tutors students post-school hours and works part-time at the Cheesecake Factory.

The recent Walton Family Foundation-Gallup Teaching for Tomorrow report, released in March, highlighted that 21% of K-12 public school teachers surveyed face financial struggles, and 71% have at least one additional job.

On Wednesday, the Labor Department noted that the Consumer Price Index escalated in May at an annual rate of 4.2%, marking the highest inflation rate since April 2023.

“I’m getting hit everywhere,” Regal commented regarding her financial challenges. ‘This past weekend, gas cost me $70. Grocery shopping for two bags was $160. That’s where I’m getting hit.’

Throughout the summer, Regal plans to continue her waitressing job for extra income. School supplies also impact her budget, as she typically invests up to $1,500 annually from her own finances for her classroom needs. She shares this expense with a co-teacher, who recently became a new parent. ‘She’s feeling the strain too, and we’ve discussed the need to scale back,’ Regal noted.

As a single individual, Regal has tentative retirement plans for age 60. ‘I’m going to just keep hustling, keep saving, and hope that conditions will change by then,’ she shared.