Financial Literacy Programme

The Financial Literacy Programme is centred around the McGill Personal Finance Essentials course.

The McGill Personal Finance Essentials is an online course comprised of eight core modules and two bonus modules.  By completing the Programme, it is intended that Caymanians between the ages of 14 to 25 develop their comprehension and confidence in the fields of finance and investing. 

Taught by Professors from the McGill Desautels Faculty of Management at McGill University, the course is free to all registrants and covers the following areas of study:

• Introduction to Personal Finance
• Budgeting and Saving
• Your Money: Today and Tomorrow
• Understanding Debt and Borrowing
• The Art of Investing 
• Retirement Planning
• The Realities of Real Estate
• Behavioural Finance
• Bonus Module: Responsible Investing
• Bonus Module: Cryptocurrencies and Crypto Tokens

The course is available in three-month blocks and can be done at the student’s own pace, providing flexibility around work and study.

Steps of the Programme

Step 1

Registration for the McGill Personal Finance Essentials Course

Eligible Caymanian candidates aged between 14 to 25 must first register for the McGill Personal Finance Essentials course at www.mcgillpersonalfinance.com. There is no prior application required with NYC at this stage.

Step 2

Completion of the McGill Course

The candidate has three months to complete all modules and pass each module test with a minimum mark of 80%.

Step 3

Submission of Completion Certificate

Upon successfully passing the course, the candidate must email their certificate of completion to the NYC for review to .

Step 4

Verification of Caymanian Status

Once the NYC receives the certificate, they will verify the candidate’s Caymanian status. If the candidate meets the eligibility requirements, they will be approved to proceed.

Step 5

Final Examination with Youth Services Unit (YSU)

After verification, the NYC will introduce the approved candidate to the Youth Services Unit (YSU) of the Ministry of Youth via email. The YSU will arrange a date for the candidate to sit the final examination at the Intergenerational Hub, located at 131 Maclendon Drive.

The final exam consists of 80 questions and must be taken in person at the Hub’s designated facility using one of the four available computers. A minimum pass mark of 80% is required to proceed.

Step 6

Notification of Passing Candidates

If the approved candidate successfully passes the final examination, the YSU will notify the NYC of the candidate’s name.

Step 7

Award of Certificate and Cash Prize

The passing candidate will receive a certificate of completion from NYC via email, along with details of the next quarterly awards ceremony at the Hub. To receive the KYD 250 award, the passing candidate must attend the awards ceremony in person.