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  • The Ministry of Education is partnering with Money Basics for Kids Ltd. to teach primary and high school students in Grades four to seven the fundamentals of financial literacy.
  • Dubbed, ‘Taking Charge of the Financial Future of Youth in Jamaica’, the initiative seeks to offer children a simple guide into the world of money management and entrepreneurship.
  • It aims to make children financially literate by educating them about the basic concepts of money, its origin, how to earn it as well as how to save, manage and spend it.

The Ministry of Education is partnering with Money Basics for Kids Ltd. to teach primary and high school students in Grades four to seven the fundamentals of financial literacy.

Dubbed, ‘Taking Charge of the Financial Future of Youth in Jamaica’, the initiative seeks to offer children a simple guide into the world of money management and entrepreneurship.

It aims to make children financially literate by educating them about the basic concepts of money, its origin, how to earn it as well as how to save, manage and spend it.

Education Minister, Hon. Rev. Ronald Thwaites, said he hopes that the infusion of financial information into the school curriculum from Grades four to seven will redound to the personal benefit of students and teachers alike.

“Even if you’re learning Spanish, you can learn about money through the words that you study and through the examples and stories that are told. You can infuse the basics of financial literacy and money management into every single subject,” he noted.

Mr. Thwaites was speaking at the official launch of the project on January 28, at the Mona Visitors’ Lodge, University of the West Indies (UWI).

The Minister said he is hopeful that the financial knowledge gained by students will result in them, along with their parents, making adequate preparation to finance all aspects of their education, particularly tertiary education.

He pointed out that the financial literacy programme will also complement the Junior Achievement programme that provides primary level students with exposure to business practice.

For her part, National Financial Literacy Coordinator, Sharryn Dawson, said the programme aims to teach children about the importance of saving in a way that inspires them and at the same time ensure their financial future.

She noted that the aim is to develop more fiscally responsible young people, “and it is an investment that we know will be worth it.”

The programme will initially be introduced into eight schools and will be infused into the curricula of several subject areas, including mathematics, language arts, social studies, and entrepreneurship and career education.

Ms. Dawson also advised that within the course of the year, the programme will be extended to other institutions.

“The project is not going to remain in the confines of just eight schools, but as we grow we are expecting that more schools will be allowed to join, so that this national agenda can be introduced by the end of the year,” she said.

Ms. Dawson noted that the programme will first see teachers being trained in the rigours of money management, so that they can effectively impart the knowledge to their students.

She further informed that the course consists of two modules, which cover how to earn, save and spend money.

“Students will learn where money comes from, how to legitimately get it, how to keep it, and where to go to save it. They will also understand how to wisely spend some of the money they have earned,” she said.

The project is being sponsored by First Global Bank.

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