The National Bank of Belize (NBB), as part of its aim to promote financial inclusion in the country, launched its Financial Literacy Campaign 2023 last Thursday.
Set to coincide with Education Week, NBB’s Marketing Manager Shary Medina and Marketing Officer Keana Hulse kicked off the Campaign with a child-friendly presentation to 96 standard-three students at Sacred Heart Primary School in the Cayo District.
“The bank wants the students to understand that when they become financially literate, it builds a foundational relationship with money, which is a lifelong journey of learning,” NBB’s Marketing Manager Shary Medina explained. “The Financial Literacy Campaign will help students develop the necessary skills to be knowledgeable in the fields of saving, budgeting, spending, and investing now and in the future. Financial literacy is also a cornerstone of ensuring financial inclusion for all Belizeans.”
As Medina explained, financial literacy is a core objective of Belize’s National Financial Inclusion Strategy (NFIS). As a result, Thursday’s presentation, while launching the Campaign, was viewed as an important step towards augmenting the next generation’s capacity as it pertains to managing personal finance.
Among other key financial concepts shared, the NBB representatives underscored the importance of having sufficient “savings.”
According to the NBB’s May 11th press release, the children were given the opportunity to partake in activities pertaining to personal saving and budgeting. As part of NBB’s “Giving for Saving” initiative, Medina and Hulse also gave each student a piggy bank. “The activity was the first practical step for each student to learn the importance of saving money of their own, whether it is from their allowances or gifts,” the release stated.
The NBB representatives reminded that the country’s NFIS states, “Financial education is a key element in promoting financial inclusion because of the impact education has on a person’s financial literacy and, in turn, on his or her financial capability and financial well-being.”
The release ended, “The National Bank of Belize believes that every Belizean, especially our younger generation, must become financially literate so as to make sound financial decisions in the future. NBB plans to continue the Financial Literacy Campaign at other schools throughout the country of Belize within the new school year ahead.”