Dear Editor,

“What is your biggest regret in life?” This question, posed by a popular Jamaican content creator, made me reflect deeply. My answer would be: not learning to become financially literate at an early age.

In my youth education was emphasised as the key to success; however, no one prepared me for the financial realities of adulthood. It felt like being tossed into the ocean of responsibility with no tools for navigating financial management.

A 2023 report revealed that 88 per cent of young adults in the US felt unprepared for life after formal education, and 72 per cent believed financial literacy courses could have improved their outcomes. While I found no local data, I suspect Jamaica’s situation is similar.

How many young adults in Jamaica are living paycheque to paycheque or drowning in debt due to poor financial management? As Oneil Madden pointed out in a December 2024 Gleaner article, the issue of borrowing without repayment highlights the dire consequences of financial illiteracy. Many of my peers are caught in this cycle.

While personal responsibility is important, systemic support is equally crucial. The current approach in Jamaica feels unsustainable, almost setting up young people for financial failure. To foster a financially literate generation, I recommend the following:

• Conduct research on young adults and debt to understand how financial literacy — or the lack of it — affects them.

• Integrate financial literacy modules in the curriculum from the primary level.

• Develop engaging, age-appropriate financial literacy content for diverse groups.

Teaching financial literacy early can empower young people to avoid the stress of living paycheque to paycheque and build a more secure future. It’s time we give our youth a head start in life.

Jaemar Johnson

johnsonjaemar@gmail.com