There was a time when practically every primary and all-age school in Jamaica had a savings club. Now, according to reports, this all-important activity has been drastically scaled down over the years.

Perhaps the time has come when it needs to be revived in a big way, even to the point of making it mandatory. It is especially relevant in this time of economic recession.

Every one and more so the young who represent the future, should be mindful about how we manage money. A public education campaign should be launched in the schools where all stakeholders - teachers, parents and students, are trained in the best practices of money management.

'Banking' or 'Savings Day' in most schools was usually facilitated on a Wednesday afternoon, and it was a time-tabled event. Students from the various classes would present their monies to their teachers and have their passbooks updated. It was a proud moment for these students to tender their monies and to check the balances in their accounts. It usually brought a smile to the faces and a flair to their general demeanour. Hence, if it's even for this emotional aspect, the students would have benefited.

It was the general practice that whenever they saved a certain amount, their accounts would be transferred to the parent organisation, and they would be rewarded with a 'proper' bank book. The parent organisation was usually a traditional bank, a credit union or a building society.

Students saved for several milestones by using this method, for example, money to buy shoes and uniform for the next school year, or to assist in sending them to high schools.

Bling culture

Apart from the children learning the value of money and the importance of its proper use, they would learn eventually to be self-assured and independent. Saving money also requires responsibility especially with the explosion of the 'bling culture' among the young and not so young within the Jamaican society.

The gravitation to the 'bling' by boys and girls, men and women in the society is perhaps one of the reasons for the less than enthusiastic support of savings within the school system. Jamaicans on a whole love to look good, and dress to boot to prove a point.

Perhaps there is no other nation on Earth where the women can dress in such an appealing and eye-popping manner. However, for all this there is the need to prioritise, to cut back on the bling, and let more important matters rise to the fore. This should be our focus, and it can be achieved through education. Our children, who we often refer to as 'our future', deserve no less.

www.jamaica-star.com