Building lifelong healthy financial habits starts long before adulthood, and one major Barbadian financial institution is working to give young people a head start on smart money management. The Barbados Public Workers’ Co-operative Credit Union Limited (BPWCCUL) recently launched its annual Before the Bell Rings Back-to-School Financial Literacy Workshop, an event dedicated to introducing core financial concepts to children and teens aged 7 to 16. Held on Thursday at the credit union’s Belmont Road branch in St Michael, the 2024 workshop welcomed 70 young participants from across the island.
According to BPWCCUL Marketing Officer Khadija Millar, the initiative serves two key goals: to lay a strong foundational understanding of personal finance for children, and to complement the credit union’s existing Back-to-School Loan promotion for families. “We structured the workshop specifically to include children of parents who have applied for our back-to-school loan, and we’ve also formed an official partnership with the government’s One Family Programme, which connects vulnerable households across Barbados with critical resources,” Millar shared in an interview after the event.
Unlike abstract classroom lessons on finance, the workshop centers entirely on practical, actionable skills that children can incorporate into their daily lives right away. Core topics include creating a basic budget, building consistent saving habits, and learning how to distinguish between non-essential wants and necessary needs — concepts that even young children can apply to their allowance, gift money, and back-to-school shopping. “Getting an early start with these fundamentals makes such a difference. By learning how to set money aside for future needs, prioritize spending, and make intentional choices at a young age, these kids carry that knowledge with them for life,” Millar explained.
To ensure all lessons matched participants’ developmental levels, organizers split attendees into two age-based groups with tailored activities and curricula. For the 7 to 10-year-old group, sessions leaned into playful, interactive learning, including hands-on presentations, educational games, and guided group discussions that made money management feel approachable and fun. Older participants, aged 11 to 16, engaged with more advanced content through a structured financial challenge, collaborative group discussions, and a open question-and-answer session designed to deepen their understanding of long-term smart money habits.
Millar emphasized that this age-based segmentation was a deliberate, critical part of the workshop’s design. “Younger kids learn best through play and interaction, so we built their activities around that. For teens, we can dive a little deeper into how budgeting and saving work in real life, while still reinforcing the same core fundamentals that apply to every age,” she said. Overall, the event’s organizers hope the lessons and skills taught at the workshop will stick with participants as they grow into financially independent adults.
Kyle McCollin, BPWCCUL’s Loans Recovery Officer who led sessions for the 11 to 16-year-old group, echoed that sentiment, noting that early financial education is an investment in young people’s long-term success. “Today we come together to learn, grow, build smart money habits for the future,” McCollin said. He also extended gratitude to parents and guardians who encouraged their children to attend, highlighting that adult support plays an irreplaceable role in helping young people build the confidence to make sound financial choices. “Your support plays a vital role in helping them develop the knowledge and confidence to make wise financial decisions,” he added.