Students benefit from FHC financial literacy course

Several young people as well as their parents got a crash course in financial literacy and entrepreneurship during one of eight sessions of The Re-Birth Project.

A sponsor of the programme from its inception, First Heritage Co-operative Credit Union Limited (FHC) saw its Chief Executive Officer, Roxann Linton, and Juven Montague-Anderson, assistant general manager- marketing, communications and member experience, explaining the importance of being financially responsible.

The Re-Birth Project, which is an annual eight-week life-changing, interactive, behaviour-modification programme for at-risk youth, ages 12-16, seeks to equip students with skills, actionable techniques and information they can use to better navigate life's challenges without succumbing to delinquency.

These youth and their parents were given a chance to interact with the representatives from the nation's largest open bond credit union and to understand the need to save, to budget and to spend responsibly. Linton reminded the group that they are never too young to make wise financial decisions, and encouraged the parents in attendance to support them as they grow up.

Financial planning

Explaining that financial planning involves more than just budgeting and investing, but more a thinking process that helps people achieve their goals, Linton emphasised the need to be balanced. She went on to share the benefits of having a financial plan in order to increase financial security, to make better use of money to achieve goals and, ultimately, to reduce the risk of falling into debt.

FHC also outlined many of the steps needed to create a financial plan, such as determining your financial status, developing financial goals, identifying saving and investment options, evaluat-ing alternative spending habits, making the plan, working on it, and finally sticking to it.

"That session was awesome and informative," said Evelyn Taylor, a mother who accom-panied her son. "He's always wanted to open a savings account, but I didn't know where to start. I am grateful for that session because it helped me and my son understand how to better manage our finances. Now he is even more excited than before, because he got to open an account with FHC. And I am very proud of him," she said.

Her son was among some 20 young people selected to participate in this year's staging of the programme, which seeks to help participants see the need to make decisions that contribute to their overall development and well-being, but at the same time, ensure that they secure the best possible outcome for their future.

The project over the last five years has worked with students from the Norman Manley, Tivoli, Gaynstead and Ardenne high schools in Kingston.