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Posted: Saturday 7 October, 2017 at 11:19 AM

PM Harris: Financial Literacy plays critical role in decision-making

Prime Minister Dr. the Hon. Timothy Harris
By: Jermine Abel, SKNVibes.com

    BASSETERRE, St. Kitts – IN a statement to kick off October as Financial Information Month, Prime Minister Dr. Timothy Harris has informed that it is important for Kittitians and Nevisians to strive and successfully manage their personal finances. 

     

    He explained that “financial literacy therefore plays a critical role in our decision-making in building strong and resilient households that provide for all family members”.
     
    Dr. Harris stressed that “it is an important life skill that benefits many individuals in making decisions that are difficult. For example, taking a student loan, buying a car or saving for retirement”.
     
    In recent years, many have called on citizens and residents to take action when it comes to dealing with their finances.
     
    It was noted by Dr. Harris that it is becoming increasingly important for people to learn to develop “basic personal financial skills such as preparing a proper budget and creating a savings plan to support their future endeavours” very early in life.
     
    Financial Information Month is a regional campaign geared towards enabling citizens across the region to realize their financial potential throughout their lives.
     
    The month is recognized in the eight-member state of the Eastern Caribbean Currency Union (ECCU).
     
    This year, it is being recognized under the theme: “Retirement Planning: Making Your Golden Years Golden”, and the Federation’s Finance Minister wants people to be cognizant and prepared for retirement.
     
    A number of activities have been planned to recognize the month, including a Financial and Business Primary School Quiz, Community Outreaches and a Retirement Planning Symposium.
     
    “The activities will raise awareness about the financial planning tools available to help people to plan for the best retirement so that they can enjoy a good quality of life during their Golden Years.”
       
    To this end, the Prime Minister has urged persons to take advantage of the “Financial Fair”, where partnering agencies would display goods and services to the public and assist individuals to make informed decisions for a successful retirement plan.  
     
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