Financial capability books competition launched

Tista' taqra bil- Malti.

The inculcation of basic financial capability principles at the primary cycle of formal education is likely to have beneficial long-term impacts in preparing tomorrow’s adults to be more financially capable and active citizens.

Minister of Education and Employment Owen Bonnici and Minister for the Family, Children’s Rights and Social Solidarity Michael Falzon launched a competition on the writing of financial capability education fun books for primary school teachers.

Representatives from ĠEMMA, a project about financial literacy from a social aspect and the Directorate for Learning and Assessment Programmes were present for the meeting.

The competition is targeted at two categories of pupils;

– Students aged between 5 to 8 who are in Years 1 – 3;

– Students aged between 8 to 11 who are in Years 4 – 6.

Bonnici explained, “This project will create an educational tool for teachers and students to learn about financial aspects in a fun and entertaining way. The MFCS has consulted Education Officers to discuss the parameters of this competition for the creation of these educational tools, so that once written it will be of benefit for the students. Financial literacy is a cross-curricular theme in our syllabi. It is part of the learning outcomes that all students should master during their schooling experience.”

DOI/Jason Borg

Falzon stated, “the Financial Capability Education Fun Books competition launched by the Ministry and ĠEMMA, together with the Ministry for Education, is an important step forward as it is directed to provide primary schools teachers with the resources that allow them to introduce to pupils important financial capability life skills at a very early age. The competition ensures that emerging and established authors are encouraged to apply their talents and creativity to write books on financial capability that, whilst being educational, are also fun, engaging, and captivating.”

DOI/Jason Borg

He emphasised that is essential to educate children from very young ages, especially if the children live in a disadvantaged environment, where they have few resources to education and literacy education.

David Spiteri Gingell, ĠEMMA Team Leader within the Ministry for the Family, said that the launch of this competition is one other of a series of activities that ĠEMMA has worked on with the Directorate of Learning and Assessment Programme, with an essential focus on primary schools – with activities presented both at Skolasajf, within primary schools, as well as activities targeting primary students. These included an interactive educational play called ‘ĠEMMA Ftit’, a poster competition, an e-education game, among others.

Those participating in this book competition are to write on one or many of the following key life skills that the Strategy for Retirement and Financial Capability sets out that Maltese citizens must acquire to be financially capable. These are:

– managing a debt;

– budgeting; building a safety net;

– planning for the future;

– understanding basic investment;

– understanding basic consumer rights.

Participants writing a financial capability education fun book are to entwine in the story cross-curricular references to one or more of the following;

– inclusion;

– healthy living;

– diversity;

– Maltese traditions;

– mathematics.

The author of a book may, but is not obliged, to submit accompanying drawings to the text. Any drawings are to incorporate the ĠEMMA character (honeybee). The books can be written in Maltese or English. The person who comes in first place will receive €3,000, second place €2,000 and third place €1,000.

The competition closes on the 30th September 2020.

The rules of the competition can be downloaded from the website.