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  • Writer's pictureThe San Juan Daily Star

Students at Bayamón school receive instruction in personal finance

Gedalias Bilingual Academy Director Yolyhalmarie Hernández

By The Star Staff

With the aim of offering financial tools, promoting savings habits and imparting knowledge about credit, priority management, budgeted purchases, among other topics, teachers at Gedalias Bilingual Academy in Bayamón are offering their students a class in finance starting in the secondary grades.

According to the 2021 report “Financial Education Around the World” by the World Bank, in Puerto Rico, only 32% of people are financially literate, which means that seven out of 10 island residents lack an education in personal finance.

“Financial education is vital for making decisions that allow us to move forward and get closer to our goals and well-being,” school director Yolyhalmarie Hernández said. “At Gedalias Bilingual Academy we are very aware of this issue and as a business owner, entrepreneur and mother of three children, it is my moral duty to open the doors so that the minds of these children are directed to what they will find in the real world.”

“These young people are equipping themselves with knowledge to recognize risks and make good financial decisions that will benefit them in their lives,” she added.

The class focuses on introductory concepts of finance, introduction to credit, savings strategies, recording expenses, setting goals and managing priorities. Students are also instructed on the calculation of taxes and interest, sales workshops and budgeted purchases.

“Financial education is not an option. We are training future leaders to not only make money, but also manage it wisely,” Hernández said. “Teaching a child to make money is important, but what they really need is to know how to manage it, because regardless of the sums they generate, they will learn how to multiply them. And that is true success in finance.”

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