KINGSTON, Jamaica – Alando Terrelonge, Member of Parliament (MP) for St. Catherine East Central, has proposed a groundbreaking initiative aimed at addressing the financial challenges facing Jamaicans. In his address to the House of Representatives during the 2024/25 State of the Constituency Debate, Terrelonge called for the integration of financial education into the high school curriculum to help young people better manage their finances and build stronger financial futures.
In his speech, Terrelonge highlighted the widespread financial struggles faced by many Jamaicans, including educated professionals and government employees, due to a lack of foundational financial knowledge. He argued that this issue stems from the absence of formal financial education in early schooling. “Our youth are entering adulthood without the crucial skills needed to manage personal finance,” Terrelonge stated. “If we start teaching these skills in high school, we can give them the tools to avoid the pitfalls that many adults face in managing their wealth.”
Drawing comparisons to successful programs in other countries, Terrelonge pointed out that nations like Norway and the Netherlands have made financial education a priority. Norway has incorporated financial literacy into its national curriculum, supported by the central bank, while the Netherlands focuses on practical financial concepts like debt management from a young age. Both countries, Terrelonge noted, have seen significant improvements in the financial behavior of their citizens.
The MP emphasized that as Jamaica’s economy grows and evolves, it is crucial to equip the next generation with the knowledge to navigate an increasingly complex financial landscape. “If we want to secure a brighter economic future for our country, we need to start by teaching financial literacy in schools. This will ensure that as our youth grow into adults, they are well-prepared to make informed decisions about budgeting, saving, investing, and managing debt,” Terrelonge explained.
By embedding financial literacy into the educational system, Terrelonge believes Jamaica can foster a generation that is financially savvy, reducing the country’s reliance on external financial assistance and promoting a more resilient economy. He concluded by stressing that financial education is not just an individual benefit but a collective one that will help strengthen the nation as a whole.
