BASSETERRE, St. Kitts – ‘SAVE and invest today… enjoy tomorrow’ is the theme for this year’s Financial Information Month, which officially begins today (Oct. 1).
Every year, member states of the Eastern Caribbean Currency Union (ECCU) celebrate October as Financial Information Month, a period geared toward spreading sound financial knowledge.
Since 2001, the Eastern Caribbean Central Bank (ECCB) has collaborated with public and private sector agencies, financial institutions and the media to provide and promote a regional financial education campaign.
In his address to the Federation signaling the opening of the month, Minister of Finance Hon. Dr. Timothy Harris lauded the central bank and its affiliates for the appropriateness of this year’s theme. He said it underscores empowerment through saving and investment, adding that the significance has never resonated more loudly than it does now during these challenging economic times.
“Admittedly, the environment in which [our parents and grandparents] operated fifty years ago was quite restrictive, so that it was very normal to save money in and under their beds, under the earth, through ‘partner hand’ arrangements. While some of these practices do still exist to varying degrees, the modern environment in which saving, spending and investing are carried out is much more complex and sophisticated,” he stated.
The Finance Minister said the complexities and sophistication of the marketplace must therefore be understood by all citizens, and he commended the ECCB for its work in this regard.
Knowledge gained throughout the month, according to Harris, would provide the necessary competence and confidence for individuals to deal with their personal finances.
A list of events and projects has been slated for this month, and in the words of Harris, the events have the potential for a “far-reaching exposition of rich ideas”.
Discussions with community groups and businesses, daily tips on money management and investing and news articles on financial matters will start the ball rolling.
Projects designed for schools will also carry the message to the public. These include a primary school short story contest, High School Mentorship Programme and presentations at Parent-Teachers Meetings.
The excitement is expected to last throughout the entire month, with special promotions such as the Everyday Financial Heroes Programme, which is being carried out in collaboration with LIME and SKNVibes.
Street banners, t-shirts and water bottles will be distributed to promote the theme of prudence in spending, saving and investing.
Harris concluded his opening remarks by urging the populace to take advantage of the numerous opportunities that will be shared throughout Financial Information Month and to convert them into lifelong skills.
