Students at Kopkop College were excited to have their BSP savings account opened, following the launching of the BSP school banking and financial literacy training program at Kopkop College on Tuesday May 3, 2022.
The program which comes with the support of BSP’s community Partner, Australian NRL Club, Brisbane Broncos will begin next week and is aimed at helping schooll children understand the life skill of saving money, basic understanding of simple budgeting and practice making decision on the use of their money.
Grade 10 student Isharlyn Tepure who has a small informal business says the BSP school banking ensures she has her own personal Bank Card which gives her the independence to manage her money.
“I think it’s a very good program because it enables those who do not have accounts to save money and teaches us a lot about savings and putting those money to good use.”
The 15-year-old says she learns a lot about the importance of savings from her accountant dad, and with her new Bank account, her goal is to start saving profits made from her sales.
“This small business just started over the holidays and the highest I have saved so far is K205,” she says with pride.
Kopkop College Primary School Principal Mr. Satchell Ben described the program as a great opportunity for Kopkop College students to learn about what it means to save money at an early age.
“In PNG we don’t have a savings culture, meaning we don’t plan for rainy days and we don’t plan for tomorrow and so the focus now is that if we can develop the mindsets of these little ones to start a habit if saving money, we will have future citizens who are self-reliant.”
Parents who turned up yesterday to help their kids open up their BSP Kids Savings accounts have thanked BSP Bank and Kopkop College.
Mom, Sabina Koin who deposited K20 towards her Grade 4 child’s savings account says, “It’s great for the kids to start saving their money because sometimes we parents spend unnecessarily and we don’t think about our children.”
Another mother, Gou Jack said, “My son has his little savings at home but it’s been used unnecessarily and he has asked that I come and help him open his account so he can really start saving. You know in future they won’t rely on us because they have learnt all about savings in school.”
Mr. Ben said due to an overwhelming interest from the whole school they hope to arrange with BSP and have every student open an account and take part in the financial literacy school program.