Dear Editor,

Prime Minister Dr Andrew Holness’s recent off-the-cuff remarks on fiscal discipline have unleashed a torrent of sharp critiques and fiery rebuttals from all walks of life. While the manner in which he chose to voice his thoughts may have caught many off guard, they serve as a stark reminder of the pressing need to cultivate financial literacy and discipline within our own society.

It’s no surprise that many will point to the deep-seated socio-economic inequities that currently afflict 90 per cent of the population, a reality compounded by empty promises paraded under the banner of prosperity. This imbalance fuels frustration, sparks heated debate, and demands our immediate attention.

Indeed, “Fiscal discipline caan nyam,” but the Government’s responsibility is to ensure that its citizens are adequately — and equally — exposed to wealth and resources. It may seem like an unattainable ideal — nothing more than a pipe dream — but at its essence, the Government exists to serve the people. Its duty stretches far beyond political rhetoric: it must actively create opportunities, bridge the economic divide, and ensure that prosperity is not a privilege for the few but a right for all.

Every financial decision we make today has far-reaching implications, shaping not only our own economic well-being but also the stability and prospects of future generations to come.

Reckless fiscal choices can set the stage for generations to inherit foreseeable struggles and hardships, while wise stewardship paves the way for lasting prosperity. The question isn’t just how we spend, but what kind of financial legacy we leave behind.

Jamaica is already burdened — some might even say recklessly so — by excessive spending on imported goods and services while remaining woefully inefficient in exports. This glaring imbalance is a critical weakness that must be strategically addressed if we ever hope to attain developed-country status.

Two years ago I penned an article for The Gleaner and Western Mirror, urging the need to immerse our young, tech-savvy generation in financial literacy and discipline from the early childhood stage by adjusting the national standards curriculum (NSC) to incorporate financial literacy. By nurturing their restless, inquisitive minds, we can equip them with the tools to navigate an increasingly complex economic landscape and secure a future of financial independence.

I firmly stand by this: Financial literacy must be a non-negotiable component of our school curriculum. It is not a luxury or an afterthought — it is the bedrock upon which we will build a financially empowered nation. Singapore has made financial literacy mandatory, so why not take a page from its book?

Let’s take to heart the timeless wisdom of an old Jamaican proverb: “When a dog has money, he buys cheese; when he is broke, he begs for cloth.” A fitting reminder that true financial prudence isn’t about fleeting indulgence but about preparing for the storms before they arrive.

Dujean Edwards

Lecturer of behavioural sciences

University of the Commonwealth Caribbean

dujeanedwards@gmail.com