School Students Complete Financial Literacy Training

Students from three Belize City schools have graduated from a series of financial literacy classes. The three month program, tailored for young people, provided practical financial management skills that laid the foundation for financial prosperity. The venture was co-sponsored by Peace Work and the U.S. Embassy. Carol Babb, Executive Director of Peace Work, spoke about the program on Channel Five’s Open Your Eyes.

Carol Babb

Carol Babb, Executive Director, Peace Work

“As a result of the pandemic, we have come to the realization that financial literacy is needed now more than ever. We all know that due to the pandemic many persons have lost their jobs, many of them even if they had savings they had to use up their savings, so it is needed. I think we want to start to teach our children from a very young age, the importance of saving. As a teacher I can tell you, the optimum time to teach any new concept, to teach any new idea to student is between the ages of zero to eight, so that it becomes habit forming. So, I want to thank the United States Embassy who has been so supportive of this program. We had like three main objectives. We wanted the children to become financially literate. We wanted them to open a savings account. When I met the students only about two percent of the students had savings accounts. I am very happy to share that we have forty seven percent of students now with savings account. We have challenged them and I told them I am going to come back and check with their principals that they save regularly, at least once a month or whatever they can afford. We have also taught them the value of work.”