Growth & Jobs| Savvy savers snag scholarships

On October 31 across the globe, countries observed World Savings Day 2020, and the thrifty habits of three students underscore how rewarding, and also how crucial to one’s development, saving can be. Their diligence and stick-to-it-iveness have resulted in each of them being awarded five-year scholarships by the JN Foundation.

Counting their good fortune are Javonae Latty, Cerona Salmon, and Jonathan Buchanan, who are this year’s JN Schools’ Savers Scholarship recipients for the counties of Cornwall, Middlesex, and Surrey, respectively.

They were among 35 students who were awarded scholarships by the JN Foundation, in recognition of their outstanding performance in this year’s Primary Exit Profile (PEP) examinations. Annually, three participants in the JN Schools’ Savers Programme: one student from each parish and the children of employees of The Jamaica National Group, are awarded scholarships.

“It feels good that I could achieve something as big as this,” said Cerona, a former student at Kensington Primary who is now attending Campion College.

Cerona, who hopes to work in the medical field one day, explained that she saved a portion of her lunch money every day, so that she could always have money set aside for a ‘rainy day’, and be able to purchase gifts for her loved ones on special occasions.

MEANINGFUL

The scholarship award was especially meaningful for Shaine Buchanan, Johnathan’s mother. She was laid off from her job in the hotel industry in March and only resumed work at the end of July with reduced pay.

“I’m very delighted,” she exclaimed. “With everything which has happened since COVID-19, the scholarship will help to finance my son... . I was wondering how I was going to pay his tuition. However, the Lord heard my prayers,” she related.

She is proud that her son has been a consistent saver over the years, a virtue she strived to inculcate in him.

“He believes in being wealthy, therefore, he is building wealth from now,” she noted.

Twelve-year-old Jonathan, who topped his class every year at George Headley Primary School, concurred.

“You don’t know what will happen in the future, therefore, you need to save from now,” he asserted, adding that he hopes to purchase a house when he becomes an adult. Johnathan, who achieved a placement score of 337.9, is now attending Campion College in St Andrew.

Shanna Kaye Wright Vaughn, youth banking officer with oversight of the JN Schools’ Savers Programme at JN Bank, is optimistic about the serious approach which the scholarship recipients have taken towards savings. It will help them to establish a solid financial future when they become adults.

“A habit, whether it’s good or bad, usually doesn’t take much effort. It is based on that reason why we place so much emphasis on financial literacy for children from a tender age. They will have the opportunity to start and maintain a savings habit from now. We have seen the evidence that children who develop a savings habit early, become more responsible about money management later in their lives,” she said.