Introduction to Financial Literacy in Schools
The National Financial Literacy Expansion Programme has recently added seven more primary and six secondary schools to its roster, marking a significant step forward with nearly 500 students participating. Launched as part of the initiative’s pilot phase, the program is gaining momentum and is set to advance into the third term. David Simpson, the National Coordinator of the Ministry’s financial education program, reported enthusiastic feedback from educators and students alike.
Positive Responses and Future Plans
The introduction of financial literacy in classrooms has been met with applause from school principals and teachers, highlighting the keen interest students have shown in understanding monetary systems and the practical uses of money. Simpson shared that the response underscores the importance of embedding financial education early on, with the hope that as these students mature, the seeds planted now will flourish into sound financial habits. Looking ahead, the goal is to roll out the program across all educational levels and schools over the next few years.
Expanding Financial Education and Community Impact
This educational initiative is a collaboration between the Ministry and the Barbados Workers’ Union (BWU) Co-operative Credit Union Limited. Alana Cadogan, the CEO of the initiative, stressed the importance of early financial education as a cornerstone for future success and financial independence. The program aims not just to teach, but to embed vital money management skills like saving, investing, and budgeting from a young age. Meanwhile, Peter Cox, principal of St Leonard’s Boys’ School, and Keneita Naitram, a teacher at Wilkie Cumberbatch Primary School, both emphasized the program’s practical applications and its necessity in both home and school environments, heralding it as a crucial step for the community and the nation at large.