DEBT HELP
HELP is on the way for Barbadians who continue to run up high credit card and other debts.
It is coming from the Barbados Chapter of Chartered Professional Accountants of Canada (CPA), which is this month introducing a financial literacy education programme for those who see justice in the exercise.
Ms. Felicia Sue, head of the local chapter of the CPA, told The Barbados Advocate that they want to be of assistance to persons in Barbados looking to pursue better personal financial management.
The financial literacy programme is one that delivers educational seminars through a member volunteer network.
“So what this entails is that it is an opportunity for all Barbadian CPAs to give back to their community by sharing our knowledge, our time and experience and at the same time, it is helping us to promote the CPA brand and reputation.”
She recalled that a similar programme was done in Canada where some Canadians faced an identical situation in relation to a high incidence of debts.
“We thought it pressing at this time, although we are not in possession of statistics” to show the magnitude of the problem, Ms. Sue said.
However, she noted that if Canadians did the same thing, then why not Barbados given the current economic situation.
“We want persons here to start thinking about what they are doing and to look at their finances. It is a start and we are offering it free of charge and it is for persons to think about what they do with their finances,” the CPA Head advised. “But once we start it, people are going to start looking seriously at their whole budgeting and financial situation,” Ms. Sue stated.
Ms. Sue said they want to deliver unbiased objective financial literacy education to Barbadians, to improve the overall state of financial literacy here. She said that there is a pressing need for the programme in Barbados.
Such a programme contributes to economic and social development through the work of member volunteers, publications and valuable information online. In April, the focus will be on the youth and adults.
Ms. Sue said that Barbados is the first country outside of Canada to undertake the programme. According to her, the interest and enthusiasm is there.
“CPA Canada is committed to providing the tools, resources and inspiration to enhance the financial knowledge, skills and confidence of Barbadians,” said Nancy Foran, CPA Canada Vice President International. She recently conducted a training programme for CPA members. (JB)