KINGSTON, Jamaica— Alando Terrelonge, Member of Parliament for St Catherine East Central and a representative of the Jamaica Labour Party, has called for the inclusion of financial literacy as part of the core curriculum in Jamaica’s high schools. Speaking during the 2024/25 State of the Constituency Debate in the House of Representatives on Tuesday, Terrelonge emphasized the importance of equipping young people with financial knowledge to better manage their future financial responsibilities.
Terrelonge explained that many Jamaicans, even those with university degrees or employed in government positions, struggle to manage their personal finances effectively. According to him, these challenges often stem from a lack of early education in money management. He argued that if financial literacy were taught from an earlier age, it could dramatically improve the financial well-being of individuals and society at large.
The MP pointed to successful examples in other countries to highlight the potential benefits. He referenced Norway’s initiative, where financial literacy is integrated into the school system with the help of the national bank, providing students with essential skills in personal finance. Similarly, in the Netherlands, young people are educated on topics like credit, debt, and financial decision-making through interactive programs. These countries have seen positive outcomes, including a more financially responsible populace and a reduction in financial hardships.
As Jamaica’s economy progresses with sound fiscal policies, Terrelonge stressed the need for citizens to be better prepared for wealth creation. “Introducing financial literacy early can help create a generation of young people capable of making informed financial decisions. If we start teaching budgeting, saving, investing, and debt management in high schools, we can give our youth the tools they need to navigate their financial futures more effectively,” he said.
Terrelonge’s proposal aims to build a foundation of financial resilience in the Jamaican population, ensuring that individuals are empowered to handle their finances with confidence and responsibility, thereby fostering a more financially secure and prosperous nation.
