April 1 marks the start of financial literacy month
NASSAU, BAHAMAS – The Central Bank of the Bahamas (Central Bank) announced on Wednesday that it has relaunched its award-winning national financial literacy campaign, “Get Money Smart Bahamas,” in observance of Financial Literacy Month.
The institution has joined forces with the Clearing Banks’ Association (CBA) to promote financial education and wellness this month with a special focus on personal finance and banking.
Participating banks include Bank of the Bahamas, CIBC FirstCaribbean, Commonwealth Bank, Fidelity, RBC Royal Bank, and Scotiabank Bahamas.
The campaign will focus heavily on teaching consumers more about banking topics that directly affect their financial well-being and preparedness including cybersecurity, digital banking, and the loan application process. It will highlight mortgages, providing the basics about how to qualify, how to pay a mortgage off quickly, and whether you should refinance, depending on your current stage along the mortgage journey.
The campaign will also tackle debt management, offering tips and strategies about understanding debt, using it efficiently, and liberating yourself from financial strain by becoming debt free. Social media users can ask questions about money-related concerns by connecting with Get Money Smart Bahamas on Facebook and Instagram at @GetMoneySmart242.
“Financial Literacy Month is a great time to focus on financial education,” said Governor John Rolle. “ As our economy evolves, it will become even more important for Bahamians to commit themselves to their personal financial freedom. We need early and extensive financial education to permeate all communities, regardless of socioeconomic standing, so that future generations are prepared to be responsible for their financial futures. Take action, even if it’s in small ways.
Visit getmoneysmartbahamas.com, start tracking your spending, take an online budgeting course, or decide to live on less than you earn and save the difference each month. By taking small, purposeful steps like these, you can control your financial life and gain more financial freedom.
In December 2018, the Get Money Smart Bahamas campaign was recognized as the Platinum Winner of the Summit International Marketing Effectiveness Award for “Education Marketing.” The Marketing Effectiveness Award recognizes and rewards innovative and leading-edge creative work that uses strategy and results-based effectiveness to create solutions for today’s marketplace. The campaign was developed and executed by Blue Orchid Advertising & PR in partnership with Colina Financial Advisors Limited (CFAL).