The ASPIRE Youth Financial Education, Savings and Investment Program In St. Kitts & Nevis

"Children form their earliest money habits by the age of seven," shared Davinia Tomlinson founder of Rainchq and author of Cash is Queen — A Girl’s Guide to Securing, Spending and Stashing Cash during a WINN Media SKN's Island Tea interview. And it’s true. Our views on money and the financial habits we practice are informed by what our parents and caregivers modeled for us, cultural norms around money, and if we're lucky, the financial education we received in school. Until 2024, a structured financial education, savings and investment program for children in the Eastern Caribbean Currency Union did not exist.

Achieving Success Through Personal Investment, Resources and Education, (ASPIRE), is the first national financial education and government-funded savings and investment program for youth in the Eastern Caribbean Currency Union (ECCU).

The program, launched on September 13, 2024 by the Government of St. Kitts & Nevis, promises to give young citizens residing in the country the “tools, knowledge, and opportunities to build a bright financial future.”

Enter ASPIRE: A Financial Education, Savings & Investment Program for Youth

Our views on money... are informed by what our parents and caregivers modeled for us

- Melisa Boutin, CFEI®, Founder of the Financial Eduction & Financial Wellness Platform Your Money Worth App

This initiative came nearly one year after the release of the Eastern Caribbean Central Bank’s inaugural Financial Literacy and Financial Inclusion Survey. It found that adult financial literacy in ECCU member countries is low and only 50% of adults can pay for a major expense without borrowing.

Here’s how the Government of St. Kitts & Nevis' new youth financial education program will work.

The ASPIRE program has three components: savings, investments and financial education. Each eligible student will get $500 in a St Kitts-Nevis-Anguilla National Bank savings account and $500 in Eastern Caribbean Securities Exchange-traded shares from the St. Kitts-Nevis-Anguilla National Bank and St. Kitts-Nevis Cable Communications Ltd. The financial education component will be integrated into the school curriculum and implemented during the second term of the 2024-2025 school year.

3 Pillars: Savings, Investing and Financial Education

Citizens of St. Kitts & Nevis, ages 5 to 18, who are residents of the country and enrolled in school are eligible to participate in the program. Parents can sign up youngsters for ASPIRE and view more details about the program at aspire.gov.kn.

Who Qualifies for the ASPIRE Program?

Age

• Be between ages 5 and 18 (including those who were 18 years old on December 13, 2023).

ASPIRE Eligibility Criteria

Citizenship

• Be currently residing in St. Kitts & Nevis.

Residency

• Be a citizen of St. Kitts & Nevis by birth or descent.

In-School Status

• Be enrolled in a primary, secondary or tertiary school or a registered homeschooler.

Parents and caregivers can enroll eligible students in the ASPIRE program online. The digital portal allows you to register one or multiple children, upload electronic copies of required documents and submit the application for review and approval.

If you have questions and need of support with enrolling in the ASPIRE program, visit Aspire's contact page at aspire.gov.kn/#contact-us or contact the Education Planning Unit at the Ministry of Education.

Steps to Enroll A Student in the ASPIRE Program

Parent

• Picture Identification issued in St Kitts & Nevis.

• Proof of address dated within the 60 days

  (e.g. utility bill, lease, bank statement, letter from homeowner/ landlord)

ASPIRE Application Required Documents

Child

• St. Kitts & Nevis Birth Certificate, Passport or Certificate of Citizenship by Descent

At the end of last year, the Prime Minister of St. Kitts & Nevis shared that more than 3,000 students were enrolled in the national youth financial education program. According to a tally on ASPIRE's website, $2.6 million EC has already been funded in accounts for youth participants. 

Over 3,000 St. Kitts & Nevis Students Enroll in ASPIRE

In collaboration with the Eastern Caribbean Central Bank, the Government of St. Kitts & Nevis trained teachers on the new financial education curriculum and prepares to rollout ASPIRE's programming in schools across the Federation, this year.

ASPIRE Financial Education Curriculum Starts in 2025

Get smarter about money and finance

Sign up for free online financial education from Your Money Worth App 🎉

Financial Education & Financial Wellness in One Online Platform.

Get early access. It's free!

Built with ❤️ in Saint Kitts & Nevis 🇰🇳

About Melisa Boutin

Melisa is a Certified Financial Education Instructor, author and founder of the Financial Education & Financial Wellness Platform Your Money Worth App. Melisa is all about driving collective financial wellbeing. Learn more about her here.

_________________