Dr. Carol Babb Publishes “Jacito Opens an Account at HRCU”
The Holy Redeemer Credit Union celebrated its seventy-ninth anniversary today and did so by launching a brand new children’s book written by former Chief Education Officer, Doctor Carol Babb. It’s the second in a series of publications geared towards teaching financial literacy. News Five’s Isani Cayetano reports.
Dr. Carol Babb, Author/Director, HRCU
Dr. Carol Babb
“The book, ideally, is designed for children, for young people, because I believe, as I mentioned earlier, that if we teach young people, especially during the formative years, good habits, it will not depart from them.”
Isani Cayetano, Reporting
Another instalment in a pair of literary works written by Dr. Carol Babb is presently available. The launch of “Jacito Opens an Account at HRCU” coincides with the seventy-ninth anniversary of Holy Redeemer Credit Union. The series of children’s publications draw attention to the importance of financial literacy.
Dr. Carol Babb
“It’s been a dream of mine. It first started when I got trained by Price Waterhouse Coopers and when they mentioned financial literacy to me, I was like, “What is that?” Now I only know about reading and writing literacy. But when they taught me and other teachers the importance of being financially literate, I saw it as a life skill and I believe that every child, every person in Belize should have financial literacy skills.”
The ability to understand and effectively use various financial skills, including personal financial management, budgeting and investing establishes a relationship with money. Financial literacy, however, is a lifelong journey of learning.
Dr. Carol Babb
“If we truly want to reduce poverty and financial dependence, then we need to teach people to save regularly, to borrow wisely and pay back promptly.”
In October 2021, Dr. Babb, a director at HRCU, introduced “Jacito Learns to Save”. That book sets the foundation for financial literacy, allowing an individual to make informed and effective decisions with all of their financial resources.
Dr. Carol Babb
“I can tell you that financial literacy is like on the upswing, if I may use that word. Just recently, I had a dry cleaner company [that] approached me to do financial literacy for their business. I also had the police department asking me to do it for their women police officers.”
Competence in money management spans all ages. In the world of work, adults also stand to benefit from this type of knowledge.
Dr. Carol Babb
“I keep getting calls all over the country and I think people are realizing the importance of financial literacy. I think after COVID, the effects of COVID, COVID has taught us because we were not financially literate and we were not saving and we did not have an emergency fund, people suffered. And so, we have to be prepared. We shouldn’t wait for another COVID or another disaster, we should ensure that our people have the knowledge and skills to be better prepared for whatever may come.The books are available free of cost from Holy Redeemer Credit Union and so we make it available for our member owners and for others because Holy Redeemer is committed to teaching financial literacy to everyone and anyone who approaches us.”
Isani Cayetano reporting for News Five.
