…to help students avoid paycheck-to- paycheck lifestyle

OUTLIERS Zone, a financial wellness institute, on Monday launched its ‘Money Smart Kids’ workshop that will target some 2000 students to provide them with knowledge on how to make financially-smart decisions from a young age.

Chief Executive Officer of Outliers Zone and Financial Wellness Coach, Athalyah Yisrael launched the event at the Herdmanston Lodge on Lamaha Street in Georgetown.
The purpose of the workshop, which is to be held on April 12, 2019, is to equip primary and secondary school children with knowledge of how to budget, save, donate, tithe, invest, and earn a healthy financial future.

It will be held at the National Gymnasium in commemoration of ‘International Teach a Child to Save Day’, which is a campaign that highlights the importance of teaching children about saving, and thus help them avoid the adult “paycheck-to-paycheck lifestyle.”

Yisrael said she was one of those persons who lived from paycheck-to-paycheck, and that she felt she needed to find a solution. “Since Outliers Zone was launched in 2017, we were able to help almost 1000 employees end this paycheck-to-paycheck lifestyle. In 2019, our focus is radical towards children,” she said.

The Guyana Bank for Trade and Industry (GBTI) is assisting with sponsorship of the programme, and Manager of New Accounts Frances Sahadeo said that the earlier persons begin developing prudent financial practices, the earlier will they begin to achieve more.
She pointed out how the bank’s ‘Early Savers Plan’ was developed many years ago with the aim of encouraging parents and children to save from birth, and has turned out to be one of their most successful products.

The benefits of having such an account with the bank include a higher interest rate than the regular savings accounts, the annual rewards programmes and summer camp for children.

“Initiatives such as these should be endorsed and fully supported, and we encourage parents to think of their children’s future. It’s never too late to instill in our children to start practising sound financial patterns at an early age, so that when they grow older, it will be instilled in them,” Sahadeo said.

Meanwhile, the workshop will host the primary school students from 09:30 to 11:00 hrs, and the primary school childrn from 13:00 to 15:00 hrs, with tickets costing $500 and $600 respectively.

“This nominal price covers the cost of the workshop delivery and materials. Each child will also be entered into a draw to win one of our 4-Chamber (Save, Invest, Spend, & Donate) piggy banks worth $8,995.00,” Yisrael disclosed.

She thanked GBTI for its support, while encouraging parents, companies and schools to participate. “Companies can purchase tickets for schools of their choice, while parents and schools can purchase tickets for students. Sponsors will receive exhibition space to display and/or sell products at the event.”

She said ‘Outliers Zone’ is dedicated to helping companies provide financial wellness training for their employees to help them end the living from paycheck-to- paycheck cycle, and start a sound financial base.