Teach high school students financial literacy, says Terrelonge
KINGSTON, Jamaica— Member of Parliament (MP) for St Catherine East Central, the Jamaica Labour Party’s Alando Terrelonge, is calling for financial literacy to be taught in Jamaica’s high schools.
Terrelonge made the call on Tuesday during his contribution to the 2024/25 State of the Constituency Debate in the House of Representatives. He noted that many Jamaicans, including university graduates and civil servants, struggle to manage money effectively.
“This issue often stems from financial literacy gaps in early education, with many people lacking exposure unless they study or work in finance. I strongly believe that equipping our youth with financial skills as soon as they enter high school would change their futures for the better,” Terrelonge argued.
He noted that countries like Norway and the Netherlands have seen the benefits of early financial literacy education. “Norway, for instance, integrates financial literacy into school curricula with support from the national bank to give students a solid grounding in personal finance. The Netherlands takes a consumer-focused approach, helping young people understand credit and debt through interactive tools from early adulthood. In both cases, the result is a population better equipped to manage finances responsibly, reducing financial hardship and fostering lifelong skills,” said Terrelonge.
He said that as Jamaica’s economy continues to grow “through the comprehensive and prudent fiscal plans of the government”, every Jamaican must be ready and equipped with the necessary financial tools to manage their wealth creation.
“I propose we implement similar initiatives here, starting with high school students. By teaching concepts like budgeting, saving, debt management and compound interest, investing in stocks and bonds early on, we can empower our youth to avoid common financial pitfalls and strengthen their economic wellbeing. By making financial literacy a national priority and embedding it into our educational system, we are not just giving individuals the skills to manage money but building the foundation for a financially resilient Jamaica,” the MP posited.
