Financial literacy and growing Thailand's GDP
"One of the greatest gifts we can give to another generation is our experience, our wisdom," said Desmond Tutu. When we invest in our children, our future, we need more than literacy and numeracy. We believe that we can teach financial literacy. Oliver
We believe that habits determine destiny, and our first habit is integrity. And the essence of extraordinary life is to live your passion.
It all starts with having the integrity to find your purpose and passion. Confucius said: "Choose a job you love, and you will never have to work a day in your life."
In his autobiography, Benjamin Franklin wrote about a system of the 13 virtues, and because of his discipline, the record shows that Franklin was a success in life, first as a printer and then as one of the founding fathers of the United States. We have developed this idea and created a "13 Habits" resource that could be taught in intermediate and secondary schools. The 13 habits are illustrated in stories, journals and workbooks to engage students with good habits and common sense.
1 Is teaching financial literacy in alignment with the curriculum?
2 Why don’t we teach financial literacy in school?
3 Do schools include financial literacy in their strategic plans?
4 Do teachers have the confidence and competence?
5 Should teachers be trained?
6 Is it important to have resources that engage students?
7 Do universities have a training courses and certification for teachers to gain the confidence and competence to teach financial literacy?
A nation with poor children is a poor excuse of a nation. When we get behind this initiative and support the Success for Students Charitable Trust and give it the necessary funding to do its work, I think we can make a difference. Our children are our future; are they worth investing in? Companies backing financial-literacy education will get a good return on investment. First, their brand is exposed to a new generation of consumers, and second, educating children will lead to significant economic benefits for the Thai economy.
Thailand’s gross domestic product is around US$366 billion (Bt11.36 trillion). When we make it a priority to teach financial literacy, what will be the effect on our GDP per capita? Will it increase? Nobody knows. Is it worth investing in? When we are able to give a helping hand to our youth, that’s worth investing in.
Lucas Remmerswaal, financial adviser, author, teacher and co-founder of a non-profit Success for Students Charitable Trust, wants to engage school students with habits and common sense inspired by Warren Buffett. See http://13habits.org/free-books/.
