The National Youth Commission (NYC) has launched its official website and a new Financial Literacy Programme aimed at equipping young Caymanians with the knowledge and skills needed to manage their finances confidently. This programme underscores the NYC’s commitment to empowering young people by fostering education, leadership and financial independence. The NYC has also launched its official website, serving as a central hub for all their programs and resources, including the financial literacy initiative, to enhance accessibility for youth. This platform will enables the NYC to connect more effectively with young people, provide timely updates, and encourage greater engagement with NYC’s diverse initiatives.
The Financial Literacy Programme is built around the McGill Personal Finance Essentials course, an internationally recognized curriculum taught by professors at McGill University. Available online and free to registrants, the course covers crucial financial topics, including budgeting, saving, debt management, investing, retirement planning, real estate, and cryptocurrency.
Young Caymanians aged 14-25 can apply for the NYC Financial Literacy Programme through the newly launched NYC website, www.nationalyouthcommission.ky.
Steps to Complete the Programme:
- Register for the Course
- Eligible candidates must first register for the McGill Personal Finance Essentials course at www.mcgillpersonalfinance.com.
- There is no prior application required with the NYC at this stage.
- Complete the Course
- Successfully complete the online course and pass all module tests with a minimum score of 80%.
- Submit the Certificate of Completion
- Upon completion, submit the certificate of completion to the NYC for verification.
- Verification Process
- The NYC verify the candidate’s Caymanian status and confirm eligibility.
- If all requirements are met, the candidate will be approved to proceed.
- Final Examination
- Take the in-person final exam at the Youth Services Unit’s Intergenerational Hub (IGH)
- A minimum score of 80%is required to pass.
- Awards Ceremony
- Attend the quarterly awards ceremony at the IGH to receive a certificate and a KYD 250 cash award.
The NYC, which comprises of 16 members representing youth, public sector, and private sector falls under the Ministry of Youth Sports and Heritage and is facilitated through the Youth Services Unit.
Expressing his support for the initiative, Minister for Youth, Sports and Heritage, Hon. Minister Rankine noted, “I am incredibly proud to see the National Youth Commission launch the Financial Literacy Programme. By equipping young people with the tools to manage their finances effectively, we are investing in their future success and the long-term prosperity of our nation. I look forward to seeing the positive impact this programme will have on the lives of our youth.”
Johann Moxam, Chairman of the NYC, expressed his enthusiasm for this initiative, stating: “Financial literacy is a key pillar in preparing our youth for a successful future. By launching this programme, we aim to provide young Caymanians with the tools and knowledge necessary to make informed financial decisions and secure their financial independence.”
Stephen Price, Chair of the Financial Literacy Programme committee, emphasized the long-term impact of the initiative: “This programme is a game-changer for our youth. We have secured funding to provide up to 1,200 awards of KYD 250 to young Caymanians who successfully complete the course and final examination. Our goal is to create a generation that understands the principles of financial responsibility and wealth building.”
