Growth & Jobs | Financial Literacy Session sparks children’s determination to save

For 14-year-old Crisanya Reynolds, one simple piece of advice transformed the way she thinks about money.

“I learned that you can’t say you want to save your money but still walk around with it because, at the end of the day, you’re going to spend it,” she said with a smile. “That happens to me many times.”

The lesson came during a financial literacy presentation facilitated by the JN Foundation at the Kingston Young Men’s Christian Association (YMCA) Summer Camp, where campers as young as six years old were encouraged to build healthy financial habits through practical lessons on budgeting, saving and investing.

Leading the interactive sessions, Rose Miller, financial consultant with the JN Foundation, helped the younger children to understand the importance of money and highlighted some of the ways money is used, as well as the necessity of having a savings account. She also challenged the older children to rethink how they manage even small amounts of money. “If you’re taking out the money you’re going to save first, you will always have money saved up,” she told the campers. “But, if you’re going to spend first and then try to find something to save, guess what? You’re not going to find anything.”

How to Save from Lunch Money

Using lunch money as a relatable example, she encouraged the children to budget by separating their spending money from their savings before leaving home.

“When you get your lunch money, leave the money that you’re saving at home,” she advised. “Unless you’re superdisciplined, it’s very difficult to bring back home the money that you planned to save.”

The advice immediately resonated with Crisanya. Inspired by the presentation, she now plans to leave her savings at home instead of carrying it with her, and hopes to open her first bank account.

“I want to start saving my money more often and stop spending it,” she said. “I also want to open an account so I can save my money there and probably start investing in different companies.”

You Can Graduate to Investing

Beyond saving, Miller encouraged campers to think about long-term wealth creation. Several were intrigued by the prospects of investing in the different companies on the stock market.

“Saving is for short-term needs,” she explained. “Savings will not get you wealth. You have to graduate to investing if you really want to become wealthy.”

Miller advised the children that financial success depends not only on how much money they earn, but also on how well they manage their money.

“I want every single person here to know that you need to be able to manage your money well so that you can achieve your goals and get to the destination called ‘Financial Freedom’,” she said.

The message was reinforced through hands-on budgeting exercises, where campers decided how they would spend a hypothetical lunch allowance by setting aside money for savings and other priorities such as bus fare.

Camp Coordinator Kwame Barnes said partnering with the JN Foundation reflected the YMCA’s commitment to helping children develop life skills alongside recreational activities.

“This summer camp isn’t just about having fun, running up and down and playing sports,” Barnes explained. “It’s about teaching these young people life experiences and life skills. Financial literacy is just one part of what we have planned for them.”

You Don’t Need Lots of Money to Start Saving

The presentation also resonated with 20-year-old Brian Sutherland, a banking and finance student at The University of the West Indies who attended the session.

“One of the biggest lessons was the importance of investing and saving your money, and how important it is to start when you’re younger to build good habits,” he said.

He believes one of the biggest misconceptions among young people is that they need a large income before they can begin saving.

“People think you have to have a large amount of money to start saving and investing,” he said. “But, if you start small, you build the habit from early. Then, when you start earning more money, it’s much easier because you’re already used to it.”

For Crisanya, the experience has already changed the way she views her financial future.

She believes young people need guidance from parents, financial professionals and other trusted adults to help them make smart decisions.

By teaching children to budget, save before spending, and think beyond immediate wants, Miller said the JN Foundation hopes to equip the next generation with the financial skills needed to engender the right attitude towards money, so they can achieve long-term security and independence.