WELFARE recipients should make an effort to improve their situation by understanding and learning how to save in order to reach their financial goals said the vice presidents of the Brunei Council on Social Welfare (MKM).
MKM Vice President Nur Judy Abdullah said as part of its effort in improve the fidyah scheme, MKM is collaborating with Junior Achievement (JA) Brunei to carry out the “JA More than Money” programme, which teaches the basic financial literacy to children aged eight to 11.
“As part of MKM’s initiative to raise awareness on financial literacy, we teach them so that they could learn about the importance of saving,” she said.
The non-government organisation (NGO) yesterday began a programme on financial literacy as part of its fidyah scheme project for primary school students to educate them on the risk of overspending and the importance of saving.
She added that overspending and the use of credit cards among Bruneians are worrying and one way to overcome this is to educate the recipients especially young people about overspending as well as the consequence of debt.
Nur Judy said MKM does not want its welfare recipients to remain complacent. “The fidyah scheme provides the students with meals at their school canteen everyday. But this must come with some form of education so that they could help themselves.”
Yesterday’s event saw 24 students from Tanah Jambu Primary School participating in “JA more than Money”, which is a board game which introduces the role money plays and the concept of saving, spending as well as earning an income.
“The students who participated were not all under the fidyah scheme…We believed that the knowledge of saving and entrepreneurship should be instilled earlier. We use the board games to keep them interested,” added the Vice President.
She hoped that through this programme the students will be able to building on their understanding of money basics and apply those skills to daily life and recognise the significance of money management.
The programme will run for another two sessions on September 4 and 11 at the MKM Resoruce Centre in Malabau Complex in Serusop.
The Brunei Times