Fiji Gets Serious About Financial Education

Financial literacy proponents are developing and launching financial education programs and initiatives at an exceedingly swift pace in communities throughout the world.  Both developed and developing countries are exhibiting remarkable growth in their available resources for individuals and families to become more financially empowered.

Fiji is one of those countries.  Not only is Fiji witnessing many new financial education initiatives within its borders, but monitors are now being dispersed into many of the nation’s educational districts to observe the success of those programs in schools. The Ministry of Education Fiji and the Pacific Financial Inclusion Programme are jointly carrying out a training program for more than thirty retired teachers who will examine the Fiji Financial Education (FinED Fiji) project.  One of the unique elements of this initiative is that the observation will be conducted by retired teachers, as they are best positioned to really understand education, including its challenges and successes.

FinED Fiji was kicked off officially in April following the Ministry of Education’s national teacher training program that was conducted over the course of a year. The FinED Fiji initiative is reaching nearly 200,000 students in Fiji, who are receiving education on a range of personal money management topics. The program is deemed progressive for many reasons, including that it integrates the teaching of financial topics into existing academic subjects, rather than requiring a separate class for students to attend.

But while the FinED Fiji program is widely regarded as an important development in financial capability among the nation’s citizenry, what many believe is even more significant is the current review and evaluation being conducted by the retired educators.  As they analyze the successes and limitations of the program, their commentary and recommendations for improvement will guide future program modifications and enable financial and other resources to be devoted specifically to the program’s elements that are characterized by the greatest success.

Many financial education industry observers are closely watching Fiji’s efforts, which are serving as a role model for other countries similarly focused on developing and monitoring financial literacy programs aimed at arming their populations with the best tools and resources for financial education and empowerment.  Fiji’s comprehensive approach is likely to be espoused by other countries as financial literacy rises higher and higher on national political, social and legislative agendas.