GREAT BAY--Minister of Education, Culture, Youth and Sport Melissa Gumbs has highlighted the importance of early financial literacy following a recent Money Week classroom engagement, where students were introduced to practical lessons about currency, budgeting, saving, and the difference between wants and needs.
The Centrale Bank of Curaçao en Sint Maarten (CBCS) has rolled out the educational project “Money Week” to primary schools in Curaçao and Sint Maarten this week. With this initiative, the CBCS aims to make children aware of the value of money, saving, and making financial choices at a young age.
During this week, all primary schools will receive a number of cash boxes containing play money banknotes and coins of the Caribbean guilder. Teachers can use these cash boxes during math lessons to cover money and financial topics in a playful and practical way. The opening of Money Week took place in Sint Maarten at the Oranje Primary School. There, CBCS Sint Maarten interim director Dwayne President and Minister of Education Melissa Gumbs jointly delivered a guest lecture to the children of group 5 at the school.
As part of the activity, students were presented with a Money Box containing models of the Caribbean guilder notes and coins. The session also introduced students to the shared currency used within the monetary union of St. Maarten and Curaçao, giving them an opportunity to become more familiar with the region’s banknotes and coins in a hands-on way.
Minister Gumbs said students were quick to identify many of the animals featured on the bills and showed a strong understanding of basic financial concepts during discussions in class. One of the most engaging parts of the session focused on distinguishing between wants and needs, with students discussing everyday expenses such as rent, food, groceries, and internet service.
The discussion also encouraged critical thinking about spending priorities. Students debated whether items such as a PlayStation 5 should be considered a want or a need, while also exploring the idea that even necessary items can vary in cost and practicality. In one example, students considered whether owning a car is a need, and whether that necessarily means needing a luxury vehicle.
Minister Gumbs said she was especially encouraged by the students’ awareness of the importance of saving. During a budgeting exercise involving how to divide 1,000 guilders among expenses, several students immediately identified savings as an essential category.
According to the Minister, the session demonstrated that students are already thinking seriously about money, responsibility, and financial decision-making at a young age.
She also underscored the value of using manipulatives and hands-on tools in the classroom, noting that students benefit from being able to touch, handle, and physically interact with learning materials rather than relying only on screens or passive instruction.
Minister Gumbs said these types of practical learning experiences are important in helping children develop a stronger connection to the concepts being taught, while building life skills that will serve them well into the future.
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