NEWS

Financial Literacy  A Must For Pupils

For the past weeks many schools around the country have inducted their prefects for the year. With that done many teachers have swung into action with their classes as they
13 Feb 2017 11:00
Financial Literacy  A Must For Pupils
Westpac Bank senior manager Microfinance and Women’s Market, Eseta Nadakuitavuki and DAV Girls’ College headgirl Jessica Fong after the school’s prefect induction on Friday.

For the past weeks many schools around the country have inducted their prefects for the year. With that done many teachers have swung into action with their classes as they aim to complete their syllabus early.

This will give them ample time to conduct revision exercises with the students before they sit for their major examinations.

With the big progress in our education system but what does the future really holds for our children.

Is there anything else we need to do if it means for their future progress?

Then why not the relevant education authorities consider the importance of having Financial Literacy, a compulsory subject to be taught in our schools?

Why? Financial Literacy is a core life skill for participating in modern society.

According to the International Network on Financial Education, children are growing up in an increasingly complex world where they will eventually need to take charge of their own financial future.

It’s a pity today that most of our young adults who have lived independently are now in big debts. Most of them on pay days have become targets of money lenders or the bank bailiffs for the simple fact that they cannot pay back the money they had taken from them.

This is an indicator that most of our young adults do not know how to budget or make wise financial choices for everyday living.

It is also alarming to note that poor financial decisions have a long-lasting impact on individuals, their families and communities.

It is a known fact that the causes of the global financial crunch were complex but the lack of financial literacy was one of the aggravating factors as it led to many ill-formed decisions on mortgage loans.

It is a fact that low level of financial literacy has been associated with a lower level of living, decreased psychological and physical well-being and greater reliance on government support.

Teaching Financial Literacy in schools can make a big difference in a life of a child.

It can empower and equip them- so when they become a young adult they are able to take charge of their lives and build a more secure future for themselves and their families.

National Financial Education and Financial Literacy Programme (Russian Federation) director Audrey Bokarev best sums it up with these words, “We should help schools train and encourage teachers and parents to provide financial education for children and youth in order to equip the next generation with better knowledge and skills to make effective and responsible choices and decisions in the complex reality of the 21st Century.”

 

 

Feedback:  leonec@fijisun.com.fj

 


Get updates from the Fiji Sun, handpicked and delivered to your inbox.


By entering your email address you're giving us permission to send you news and offers. You can opt-out at any time.




Five Squares Mad March


Fijisun E-edition
Total
Subscribe-to-Newspaper
Fiji Sun Instagram
Subscribe-to-Newspaper