BAHAMAS: Junior Achievement Turks and Caicos launches new youth program

#TurksandCaicos, May 07, 2018 – Providenciales – Research by Gallup shows that two-thirds of adults around the world are financially illiterate.  Financial literacy is the possession of the set of skills and knowledge that allows an individual to make informed and effective decisions with all of their financial resources.  To help combat the global prominence of financial illiteracy, JA (Junior Achievement) Worldwide and HSBC Holdings, plc (HSBC) are relaunching the JA More than Money program to elementary students in the Turks and Caicos.  The first of which will be students attending the Precious Treasures Primary School

Designed specifically for elementary students, ages 8-12, the JA More than Money program introduces students to financial literacy and entrepreneurship, including social studies learning objectives focused on money-management skills, goods and services, and global markets.  The updated program features online digital resources, further enhancing and building upon the skills taught in the classroom.

“Finance today is more complicated than it’s ever been.  Checking and savings accounts are only a small part of what it means to be financially literate, and the options for saving, investing, and borrowing can be overwhelming,” said Angela Musgrove, local JA representative.  “That’s why programs like JA More than Money can have such a profound impact, by not only equipping students with basic financially literacy and money-management skills, but also empowering them to succeed in today’s evolving, global economy.”

Through hands-on activities and new, kid-friendly characters serving as symbols for financial literacy and entrepreneurship concepts, the program teaches students a practical approach to starting a business and making smart decisions about managing money.  Upon conclusion of the program, students are able to identify the role of money in everyday life, understand the basic steps to starting and running a business, analyze the advantages and disadvantages of borrowing money, and explore the opportunities of global markets.

The updated curriculum also reflects new trends in financially literacy and entrepreneurism, which show that the most successful millennial entrepreneurs are distinguished by a desire to positively affect their community and the economy.  According to HSBC’s 2017 Essence of Enterprise Report, 25 percent of entrepreneurs in their 20s say that having a positive economic impact was a factor in their decision to go into business and 23 percent say they wanted to have a positive impact in their community.  The JA More than Money curriculum fosters these aspirations by introducing the foundations of entrepreneurship to students at an early age, including why businesses are important and what their impact is on society.

“One of the key advantages of this program is that students benefit from experiencing different perspectives and from meeting adults who have jobs to which they may aspire,” says JATCI Deputy Chairman, Cathrice James.  “The program is largely run by HSBC volunteers, who bring their real-world experience and financial knowledge to our students.”

HSBC is one of the largest banking and financial services organizations in the world and they believe education is the key to prosperity.  For nine years, HSBC Holdings has partnered with JA to sponsor and implement JA More than Money, contributing $14.2 million (USD) since its original launch in 2008.

Locally, there are 3 volunteers who support the JA More than Money program. JATCI is open to more volunteers and sponsors to keep the program going. If you are interested in becoming a volunteer or becoming a sponsor contact info@jatci.org for more details.