The Department of Education has launched a financial literacy programme for primary school students to give them the skills to make informed decisions about their money.
It is being delivered through the virtual family banking app, My First Nest Egg, which offers quick daily lessons to help children build a strong financial foundation.
The programme was launched on Thursday, 14 November, at the Teachers’ Resource Centre in The Valley with speeches, a demonstration of the app, and a question and answer session.
Chief education officer Bren Romney told attendees the initiative marks a significant step in equipping students with the knowledge and skills they need to succeed in the 21st century.
“Financial literacy is not just about numbers and budgets, it is about empowering individuals to make informed decisions about their money,” he said.
“By introducing these concepts at an early age, we are laying the foundation for a future generation of financially responsible citizens.”
He said the programme will provide pupils with an understanding of basic financial concepts such as saving, spending and investing, as well as positive money habits like budgeting and avoiding debt.
Romney said the programme will be piloted over the coming weeks then rolled out across all government primary schools in term two.
“We believe that by fostering financial literacy in our young learners, we are investing in their future success,” he said.
Invest and thrive
Dee-Ann Kentish-Rogers, Minister of Education and Social Development, told attendees the Ministry of Education has been trying for a “very, very long time” to incorporate financial literacy education in schools.
She said the partnership with My First Nest Egg has now provided the government with platform to roll out a programme.
It will begin in primary schools, the minister said, but will eventually be moved to secondary schools across Anguilla as well.
She explained that young people develop their financial habits at home and often do not have the opportunity to develop positive habits through education.
“This programme is intended as an early intervention to equip young students with the ability to understand what is saving, what is managing your expenditure, and also what is investing,” she said.
“So that we’re equipping the next generation of young persons with the skills not only to survive, to balance budgets, but also to invest and to thrive.”
Annie Shoen, co-founder of My First Nest Egg, said she is very excited to be rolling out the app with teachers and students in Anguilla.
She said she and her business partner founded the company because they have “a passion for giving every single child a secure financial future”.
Shoen encouraged teachers to speak to the founders if they see something that they would like expanded, or working materials they would like included, on the online platform.
“Our goal is to support you all. You are on the front lines. You are doing the work. We are here to support you, and however we can support you, is what we want to do,” she said.
Financial partner
Liberty Co-operative Cooperative Credit Union offered itself as the government’s long-term financial partner in providing the platform, training and the roll-out.
Managing director Vanessa Connor explained that the organisation had initially planned to use the app to educate its customers, but realised there was potential for a wider reach.
“We’ve been embarking on a plan to ensure that every member is aware of the importance of financial empowerment, financial literacy,” she said.
“We wanted to see how we could get this to the very young, and when I reached out to My First Nest Egg, it was basically for us to launch this as a programme within Liberty.
“But after having gone through a couple of the discussions with them and understanding their mission… we felt as though it needed to be a much further impact than just within Liberty’s membership.”
She said she contacted the education minister who embraced the idea and said that it was also a passion of hers, so it became part of a larger plan for the government’s schools.
Liberty Co-operative Cooperative Credit Union was established in Anguilla in 2017 and now has about 4,000 members.
The event included prayer, the national anthem and a rendition of the national song performed by members of Orealia Kelly Primary School.
To watch the launch in full click here.
